Is This A Good Deal?

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

I saw this ad posted on Craigslist, and I am trying to figure out the pros/cons of it. I am new to the whole timeshare experience, and don't even know enough to know what questions I should ask this person. I have a couple of questions about the ad, that I would like to figure out, before I even start talking to them, maybe someone on here can help me out.

- Why would someone give away a timeshare for free?
- What is a 'RED' week?
- I went onto the RCI website, but could not determine what 'an affiliate plus cruise' is.
- Can I buy this timeshare in Georgia (for week # 21), and exchange it for a vaction place in Panama City, Florida, during the middle of the Summer, or is there a restriction on the location/date that I can exchange for.

"Loreley Condominiums located in the beautiful North Georgia Mountains. Two bedroom/two bath unit. On the main floor is the master bedroom, bath, living/dining room combination with fireplace and kitchen. The loft has twin beds and a bath. Paid $6,500. for this timeshare in 1989. It is week #21 which is a RED week and is interchangeable anytime and any where RCI has an affiliate plus cruises. The 2009 maintenance fee is paid. Selling price is FREE-however, the Recipient will pay the deed transfer fee of approximately $250. "

Sorry for all of the questions, I really do need to figure out how these things work. Thank you for all of your help. The ad is listed in blue font.

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Hello and to timeshareforums!

People give away timeshares all the time. Sometimes they can no longer afford them or can't figure out a way to use them to their benefit. Sometimes they have tried to sell them through various channels and have had no success, so they give them away to get out from under the annual maintenance fees. Just because it is free doesn't mean it will work the way you think it would.

First rule of timeshare ownership.

Buy resale.

Seems you are already on the correct track with that.

Rule number 2:

Buy where you want to go, most of the time, at least 3 out of 5 years. If PCB summer is where you want to go. Buy there. Buy the unit size you need and the week &/or season you want.

Rule number 3:

If you are going to buy a resort to exchange buy a tried and true trader in a system that has good to great availability in the areas you would most likely travel to OR a points system meeting the same criteria. Learn how to deposit early enough &/or request early enough to insure you will get what you want.

RED is the designation RCI uses for high demand seasons.

As to the ad specifics. We are talking Georgia mountains for Memorial Day. Most schools systems are still in session. While it may be "red" times in RCI there are various shades of red. This is more pink. I haven't met anyone in all my years on these boards for timesharing that had the Georgia Mountains as their desired trade location. I'm sure it's lovely. I'm also sure it is not a super hot trader. Curious as to whether the 2009 week is banked and if the seller will transfer the week. If not banked that's a loss right there we are currently at week 14. Also the MFs are not stated. What are the annual dues?

Ignore the cruise, etc affiliates. You can do better going thru different channels than using a timeshare thru RCI for a cruise. It is meaningless fluff.

IMHO if you want to trade you will need to spend a little money to get something that is a tiger trader in RCI. +/- $3k. It's a good investment if that is what you want. Please note that the exchange companies can do what they want and the game changes constantly.

So spend some time here. Read, read some more. Ask questions.

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

I think it's a great deal if you want to vacation there and if the week falls when you want to vacation.

Please feel free to ask lots of questions here.

Sue