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| Q. What is a banked week? |
Ans. If you are unable to use your timeshare on a given year you have the option with some resorts to bank your week if your resort does not offer this you can use a Service like RCI or Interval International to bank your week. With a banked week you are trading your week for the use of a week later.
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| Q. What is a point system? |
| Ans. Points are offered annually and can be redeemed for daily stays, weekend getaways, full week stays or other products. Additional points can be purchased but usage varies from resort to resort. |
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| Q. What is a Five-Star resort? |
| Ans. A resort rating given to a top timeshare resort. |
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| Q. What is a Gold Crown resort? |
| Ans. The rating given to a top resort in the RCI network |
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| Q. What is red, white-yellow, and blue-green time colors |
| Ans. A color system used for rating the desirability of a timeshare week. Red is considered the most desirable followed by white and yellow. Blue and green are considered off-season. |
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| Q. What is involved in buying a timeshare? |
| Ans. When purchasing a timeshare you have to consider a few things. How are you going to pay for the timeshare? And who will do the Closing on the timeshare. Most resale companies can help you with both of these. When you agree on a price with a seller your property will go into closing with the closing company. After the closing company gets your paper work they will require full payment for the amount of the timeshare that is being purchased which will go into an escrow account. The timeshare closing company will handle paying off any loans the seller might have on the Vacation property or timeshare, and file all the paperwork with the resort. Typically, it can take 3-7 weeks to complete the entire transaction depending on the resort. Once everything is completed you can begin to enjoy your new timeshare. |
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| Timeshare Renter's Fact’s |
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| Q. What is involved in renting a timeshare? |
| Ans.
Renting a Timeshare can sometimes be a little difficult if you are looking for a specific week and resort it might take some searching. However if you are looking for a great deal some timeshare owners are just looking to get back their Maintenance fees and Taxes they have to pay for the use of the week. If they are unable to go it is a waste of your money. Most one bedroom timeshares will rent out for $725.00 to $1,200.00 but are often negotiable depending on the seasons and holidays. If you were to rent a Hotel you would be looking at $200 a night in most cases and could possible save yourself $300 to $750.00 for the week. Rooms that you will get at these resorts are usually much nicer than a typical hotel room. Most will come with a kitchen, living room, bedroom and sometimes a washer and dryer. (And in rare cases your kitchen will come with a dishwasher.) |
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