where to buy? how to watch out!

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

Hi
I am looking for my first timeshare - as red and tradeable as possible, probably "points" vs. "weeks" -- Being EXTREMELY new, I am not sure where to feel comfortable buying. Is there a "checklist" of due dillegence to make sure you're not getting taken advantage of -- I've heard the term escrow -- I assume you put your money in escrow, you get the deed, make sure it's good, then release? Are there TS brokers that are more reliable than others, websites? Thanks much,

I do have an opportunity to buy Westgate Vacation Villas from a trusted friend for 3k but the MF are 700 per year, which is too high, IMO. I'm looking for something in the 300-500 max range, any higher and it approaches what I might be able to get a halfway decent hotel for, especially when you add in the $300 give or take for RCI swap and annual fee.

Ken LaVoie
Winslow.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Yes there was a checklist a few years ago- but there may be a few more things to check into now. The basics are to check for ownership and any claims about the resort ownership. STAY AWAY FROM WESTGATE !!! Don't take that even if they pay you to. Look for a low MF, low price, good trade power and quality management.

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

Before you buy try renting first.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

If you know a place where you want to spend 70% of the next 20 years to vacation there, you should look there first. Unless people told you it is an easy trade, than you can looking for different choice or a mini system one.

More likely, you will go there few times, and decide you want to be other places. Than you need to figure out how much you willing to pay per year, and what kind of quality you want to stay with.

Watch eBay, and find out those renting site for a while. Just like you have now own a unit and can not use them and need either sell them or rent it out. After a while, you will get a feeling how to get rid of something at what cost in case you can not use it.

Then decide what is the cost you plan to spend for travel lodging using TS, at what quality level. Than minus that cost with 200 (exchange rate) and times some safety faction (for chance you over estimate or a SA come up), to get the reasonable range you can afford, that is the MF range you can spend.

With the quality in mind, you can find the group of resort chains in that range.

With the MF in hand, you can find where to buy.

Than it is up to you to determine how much you are willing to spend with the quality you like.

You can not control trading power. An exchange company can easy maneuver that. You usually can not control the MF, however, your best hope is to find out the range you willing to spend, and the quality you want, and you believe is reasonable with that amount the resort can be maintained. There are a lot of stuff involving in TS, so the MF may look high than if you live in a condo.

Jya-Ning