Too Good to be True

[Smitty1 Junior Member Find all posts View Profile Close Smitty1]

Hi Guys

I thought I would drop you a line to ask your opinion on this - I have never owned a timeshare only a house.

I was looking into getting a cottage when a buddy said why not a timeshare a lot cheaper and you can alternate vacation sites - I know there are a few in my area - so I decided to check out there websites.

This resort is a gold crown member in the RCI family.

So I noticed on one website they have a special on for just this month that you only pay the yearly maintenance fee and the condo is yours for that week - you sign a 25 yr lease and you own it for that specified week - of course it is off season - not a big deal - still lots to do in the area even during off season.

I have asked them 3x - "I only pay the maintenance fee is that correct?" - they said yes and if I want I can join with RCI for a $90 fee per year and then be able to switch weeks when possible.

It sounds too good to be true - I have been looking at "used" condos in the same resort I am looking at and they are selling for around $5K - but they are summer dates - but they still are paying the maintenance fee same as me.

Any tips or suggestions you can give me with this one - have you ever heard of this - I am going to stay one night in early April to see what the place is like - I have talked to people that have stayed there before and it is a really nice place.

thanks for your help
Smitty

[shaggy Moderator Find all posts View Profile Close shaggy]

What is the name of the place? shaggy

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Don't take the off season week unless you will want to use it, off season. Some resorts - very few - have modified maintenance fee plans so the high season owners pay more but most don't. The value differential is seen in the cost of the deed, as you have noticed.

You can join RCI, but don't expect much with an off-season week. We can give you more detailed advice if you let us know which resort and week you are thinking about taking, and what you are likely to want to trade it for.

It is a smart move, and not uncommon, for resorts to "give away" off season weeks. Owners often default, it's good to find new ones to pay the maintenance fees. It's great if you'll use it, but can become a liability if you won't.