Buying a timeshare - Help!!

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

Hello,

I'm going to be purchasing a timeshare from my boss. We are both located in Michigan, but the property is in Orlando. I've agreed to do all the legwork since in exchange for getting the property at a great price. Anyways, I was referred to a title company called "TIMESHARE TITLE & MORE", located in Orlando. I've spoken with the manager there and everything seems legit. Just wanted to get some feedback from others as to whether or not they've worked with them or knew of someone who worked with them.

In all, the process seems pretty simple. Can't wait to finally become an owner!!

Thanks in advance for the feedback!

[Arkansas Winger Senior Member Find all posts View Profile Close Arkansas Winger]

I don't know what you are referring to as a great price, but I would caution you to check what weeks for that resort have sold for on ebay. It is quite possible a great price is no where near what you and you boss believe it is.

A lot of sellers have no idea of what the real value of their timeshare is. Checking true value now could save hard feelings between you and your boss in the future.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

The one company in FL which gets more referals from the members here is Timeshare Transfer. www.timesharetransfer.com They are discussed here in this thread thread

I'm going to be purchasing a timeshare from my boss. We are both located in Michigan, but the property is in Orlando. I've agreed to do all the legwork since in exchange for getting the property at a great price.

Are you getting a great price?? How have you checked? Since most people buy their TS from the developer, they have no idea of what is a fair resale price of their TS. Your boss may think he is giving you a great price but it may be thousands more than the TS is worth. Just to get an idea check the TS on www.redweek.com and see what prices the TS is being offered for sale. Remember that the prices on redweek are the asking prices and the sales prices are often much lower than the asking price.

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

I hope the OP doesn't end up sorry for posting... the only request was regarding the closing company (Bill has posted a good link). But since the OP is buying from the boss, more advice than asked for may not be welcome...

To the OP, we can't control ourselves, we are an overly helpful group

Oh, and [SIGN]Welcome to TS4Ms[/SIGN]

[Guest Close Quarterbore]

Any thread that starts with "Buying a timeshare" and "Help!!" is sure to get these responses...

I will add that you would be wise to look at EBAY and see what the same or similar units/weeks sell for on there.

Good Luck & Welcome to the site!

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

Thanks for the info...

It's week 30 @ the Sheraton Vistana. I checked a similar sale post on www.redweek.com @ found a comparable room in wk 31 for 3x's what I'm paying for it [$1k + closing fees (roughly $400) + maintenance fees for 2007]. I would be able to use it this year. He's definately not trying to rip me off, but thanks for the warning and web link. I plan on contacting the title company that was referenced first thing in the morning. Thanks again and hope to become an active contributor to the board once my feet get wet!

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Sounds like a decent deal for about $2K total and use of this year. Not sure if you got a 2 bedroom or not. If you got a studio I would not take it.

[Guest Close Quarterbore]

Hey, we tend to assume the worst sometimes but that does sound like a good deal! My father owns at Vistina and I think they bought back in 1984 or so... That was where my father learned his lesson paying wholesale (I might guess they paid $10,000 or quite a bit more).

Vistina has been a good trader for my father and he has gone all over the country with it.

Good Luck!

[bnoble Senior Member Find all posts View Profile Close bnoble]

For a summer week, that does seem to be a very fair price. Perhaps even more than fair.

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

It's a 2 bedroom unit in the Falls section. I'm aware that it's one of the "older" sections, but I trust his taste. Plus, as was mentioned before, it's in the middle of Summer which is perfect for my family (wife & 2 kids; 2 & 5)!

Thanks again for the feedback!

[Sydney Contributor - Bronze Find all posts View Profile Close Sydney]

It's a 2 bedroom unit in the Falls section. I'm aware that it's one of the "older" sections, but I trust his taste. Plus, as was mentioned before, it's in the middle of Summer which is perfect for my family (wife & 2 kids; 2 & 5)!

Thanks again for the feedback!

Great deal! What a good boss.

[1950bing Senior Member Find all posts View Profile Close 1950bing]

You will most likely be looking for a new job. After you find out that you have agreed to a lifetime of ever increasing fees and very little chance of ever getting close to recovering what you paid your boss I'm sure it will bring a lot of stress in your life. You will blame him for your purchase and you and the business will suffer.In the end, you will have a new job and still will be stuck with a worthless t/s. After you do all the math, it will prove to you that you made two big mistakes in your life. Have you asked yourself, wonder why the boss wants to get rid of the thing ? Maybe it is because he knows the real value. Tell him, no thanks and keep your job and the relationship you have with him and the company.

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

You will most likely be looking for a new job. After you find out that you have agreed to a lifetime of ever increasing fees and very little chance of ever getting close to recovering what you paid your boss I'm sure it will bring a lot of stress in your life. You will blame him for your purchase and you and the business will suffer.In the end, you will have a new job and still will be stuck with a worthless t/s. After you do all the math, it will prove to you that you made two big mistakes in your life. Have you asked yourself, wonder why the boss wants to get rid of the thing ? Maybe it is because he knows the real value. Tell him, no thanks and keep your job and the relationship you have with him and the company.

??? Have you read this thread? Find the OP a better deal on a Vistana fixed summer week. And congratulations on your 11th post.

To the OP: It sounds like you are planning to enjoy this timeshare yourself. If you are planning to trade it, you may want to brush up on Orlando trading power vs. Starwood preference before taking the plunge.

[katiemack Super Moderator Find all posts View Profile Close katiemack]

You will most likely be looking for a new job. After you find out that you have agreed to a lifetime of ever increasing fees and very little chance of ever getting close to recovering what you paid your boss I'm sure it will bring a lot of stress in your life. You will blame him for your purchase and you and the business will suffer.In the end, you will have a new job and still will be stuck with a worthless t/s. After you do all the math, it will prove to you that you made two big mistakes in your life. Have you asked yourself, wonder why the boss wants to get rid of the thing ? Maybe it is because he knows the real value. Tell him, no thanks and keep your job and the relationship you have with him and the company.

cbecerrajr, Ignore the "man behind the curtain"....the sourness and lack of help is obvious....Vistana is a great resort, your family will enjoy the use. There are so many things you will do with that week to create so many memories and if you should decide to do exchanges, you will get great advice here on how to do that! Be sure to check with us on how to get the max out of your ownership.


And to 1950bing,

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

On the brighter side....You didn't get hit by a car, or die of cancer, and your hubby hasn't left you!!!.....

You will most likely be looking for a new job. After you find out that you have agreed to a lifetime of ever increasing fees and very little chance of ever getting close to recovering what you paid your boss I'm sure it will bring a lot of stress in your life. You will blame him for your purchase and you and the business will suffer.In the end, you will have a new job and still will be stuck with a worthless t/s. After you do all the math, it will prove to you that you made two big mistakes in your life. Have you asked yourself, wonder why the boss wants to get rid of the thing ? Maybe it is because he knows the real value. Tell him, no thanks and keep your job and the relationship you have with him and the company.