Why do people buy timeshares?

Michaela said:
I didn't mean to offend anyone. A timeshare has just never been attractive to me. I was single for the better part of 51 years, and travelled a lot for work - so a timeshare was never quite conducive too me.

Anyway, I think the marketing scheme turns me off, greatly. In fact, during the last presentation I attended, I just kept laughing at the salesman like he was a circus act. Then abruptly, he challenged me with a question - which surprisingly, I answered correctly. They were willing to escort my wife and I out of the presentation - along with dinner for two and a carriage ride in Savannah.

I really just never go to the same place and when I do - I book a room on the NC coast for $64 - $89 govt rate.

Michael
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oh no, you absolutely did not offend me. I'm actually on your side. I am the first to state that timeshares are only good for a very very narrow market.

everyone else they can be disastrous.

the marketing scheme can be obnoxious. I went to a presentation in Vegas. what was funny is we kept telling the guy that we already owned one and we were NOT purchasing another. I guess he didn't believe us. Unfortunately my husband was a master at sticking to his guns. guy kept throwing free dinners at us until I finally told dudo he was going to go broke before he got my husband to bend.


It took us almost two years from attending the presentation to purchasing, at the time though there were not many aftermarket retailers and I always say no way would I purchase today with what Disney charges.
 
The HOA fee is not "$700 per year", its $700/ week if you only get the place one week per year. For a fully sold timeshare, 51 others are also paying that fee! People buy these on emotion and regret the purchase soon thereafter.
 
I'll fess up - another happy ts owner here. I own two. One is a floating week that I bought for less than $500 on eBay strictly to exchange, and when I deposit it I also get a second week to use. The other is a points-based system whose locations we like - they have 9 locations and we typically drive up to Quebec at least twice a year and fly to either FL or CA once a year, typically for 4 to 5 days each time.

Between these I typically get about 20 to 25 days in 1 or 2 bedroom units with a kitchen (very important to us), for an annual cost of slightly less than $2,000.

I've done about 30 exchanges over the years both for vacations and for conferences that I've attended for business, in such cities as San Francisco, Boston, New York, Phoenix, Edinburgh, Scotland and Dublin, Ireland plus non-city destinations all over the US, Canada and Mexico. I love planning these trips, and since I'm retiring on October 13th:dance:, I expect to be planning even more. Already have 3 trips set for 2018.
 
I know a lot of people who like their Disney (DVC) purchases. As someone above said buying it second-hand can save a ton of dough. They come with slightly different rights but really not significant for most as the rights you lose, at least with DVC, are the ability to use your points at Disney hotels which are a bad use of points anyway.

Similarly we bought a used Marriott in Hawaii. We were actually at the property, did the obligatory tour for $200 of food/drink vouchers, and did not buy from Marriott for $85k. Instead went on Ebay and bought the same thing for $18k. There are differences though with Marriott. If one paid $85k they could break up their points into different night stays. Buying used we got the traditional one week so much less flexibility.

Of course we haven't gone back since we bought it. Lol. However, with annual fees of only $2k it's become a great investment as we have rented it out each year for between $3,500 and $4,800 with little effort. I think about selling it but it's nice return at these rental rates! Just book spring break and it's quite easy to rent!
 
Philliefan33 said:
Since my parents recently bought a timeshare in Ft. Lauderdale, I was a little concerned about any responsibilities if we inherit. I looked it up on Google, and from what I can gather we can decline to inherit. As long as we don't use it, even once, we can fill out some form and not be responsible for any fees.
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I sure hope that's the case! MIL and her husband have one that they're leaving to 3 of their combined 5 kids (including DH). Now, they're pretty far away from The Big Sleep, so a lot can change in that time, but the thought of having to pay fees on something we don't want... *shudder* Sounds like it's time for DH and I to do some research.
 
Maenad said:
I sure hope that's the case!
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If it wasn't, I suspect there'd be people leaving the time shares to those individuals they don't like, and sticking them with the fees. :LOL:
 
Maenad said:
I sure hope that's the case! MIL and her husband have one that they're leaving to 3 of their combined 5 kids (including DH). Now, they're pretty far away from The Big Sleep, so a lot can change in that time, but the thought of having to pay fees on something we don't want... *shudder* Sounds like it's time for DH and I to do some research.
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I would say it's a liability of the estate/trust of the decedent. So though it probably doesn't automatically attach to the heirs it's still something that needs to be dealt with and not ignored. I believe a lot of timeshare companies will take a deed in lieu of foreclosure which means the heirs can give it back (assuming they have the right to sign documents which is why trust ownership is important for a timeshare). However, that could change. Also, some timeshares have enough value that you can sell cheaply or give away to someone willing to assume the liability.
 
Maenad said:
I sure hope that's the case! MIL and her husband have one that they're leaving to 3 of their combined 5 kids (including DH). Now, they're pretty far away from The Big Sleep, so a lot can change in that time, but the thought of having to pay fees on something we don't want... *shudder* Sounds like it's time for DH and I to do some research.
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You can also turn down the inheritance of a timeshare. when my dad died he and my mom had a timeshare (wyndham I believe) in Aruba. no one (myself nor my siblings wanted it). We simply had an attorney draw up papers saying no one wanted the inheritance (lol, in legal-eese). I think we did have to pay that years remaining property taxes and that was it.

No one really even wanted the responsibility of trying to sell it or get money for it. My parents unfortunately were typical elders, they never turned down an opportunity to collect or keep something. There was so much crap we had to get rid of in the house alone. :nonono:
 
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RenoJay said:
The HOA fee is not "$700 per year", its $700/ week if you only get the place one week per year. For a fully sold timeshare, 51 others are also paying that fee! People buy these on emotion and regret the purchase soon thereafter.
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what's an "HOA" fee on a timeshare? I honestly never heard of it. I have my annual maintenance fee, is it the same.

also not sure about others but with Disney everyone is not paying the same fee. It's based on a variety of issues. Mainly what resort you purchase in at and the number of points you have. So for example. myself and Capjak own at the Beach Club so our fee rate is one thing. If I purchased at Animal kingdom the rate and the annual fee would be some thing totally different.

And our fees are not based on a specific unit. So when I go in a few weeks I'm staying in a studio but when I went in May with my kids I got a 2 bedroom suite and my dues stayed the same. my dues are a little over 125 bucks a month.
 
Im not saying Im buying one, If its a rainy day at a resort that Im at, I might go to the sales pitch to get the freebies. I have no plans to even be on a vacation for a very long time anyway.

But... I read some members bought Timeshares on Ebay at terrific prices, pennies on the dollar. How does this transaction take place? Do you go to a lawyers office like when you buy a home and buy title insurance and all stuff like that:confused:?
 
Blue Collar Guy said:
Im not saying Im buying one, If its a rainy day at a resort that Im at, I might go to the sales pitch to get the freebies. I have no plans to even be on a vacation for a very long time anyway.

But... I read some members bought Timeshares on Ebay at terrific prices, pennies on the dollar. How does this transaction take place? Do you go to a lawyers office like when you buy a home and buy title insurance and all stuff like that:confused:?
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good question BCG, not sure. Disney protects the value of it's brand so you actually can't sell it for pennies on the dollar.

They have this goofy thing called right of first refusal. So basically anyone who makes an offer on your timeshare, if the king mouse doesn't like it, or thinks it's too low, they get first dibs to buy it. all offers have to be approved by the mouse
 
bclover said:
good question BCG, not sure. Disney protects the value of it's brand so you actually can't sell it for pennies on the dollar.

They have this goofy thing called right of first refusal. So basically anyone who makes an offer on your timeshare, if the king mouse doesn't like it, or thinks it's too low, they get first dibs to buy it. all offers have to be approved by the mouse
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Ahhh, so Disney on Ebay is out. Thank you.

OK. guys that got these terrific deals, how did the transaction take place?
 
I bought mine on e-bay, for the price I paid, who cares about title insurance ?
However, I think title insurance was part of the deal, as the title did have to be transfered, but I don't recall hiring a lawyer.
I think the seller provided all that, as it was from a timeshare clearing place.

When I handed back my timeshare, I paid a lawyer $250 to do everything, it was a lawyer the resort said to phone.
 
Ebay, etc...

When you buy a timeshare on Ebay, Redweek, etc... you go through a regular title company. The same for Marriott, Disney, etc... the title company sends the notice of purchase to the timeshare company as they all have right of first refusals (ROFR). Disney exercises their ROFR more than others but it's not a big deal. I have had Westin exercise on a couple different weeks I tried to buy. That's ok. No cost to me except a minimal amount of time. I want a deal that barely makes it through ROFR so I know I didn't get ripped off so I will keep trying a similar purchase until one goes if I want to buy a week. There are some less than reputable dealers so you might check tug.net before buying. In fact, check tug.net for a TON of info on whatever timeshare you buy.
 
Blue Collar Guy said:
Ahhh, so Disney on Ebay is out. Thank you.

OK. guys that got these terrific deals, how did the transaction take place?
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You can buy Disney and others resale. I bought two off ebay others I got from research on Timeshare Users Group - The first and largest online community of timeshare owners providing timeshare resort reviews, timeshare ratings, FREE timeshare advice and FREE Timeshare Classified ads! also redweek.com is a good site there are 100's of resell sites, but be careful you do not want one that has a not so great rep.

All of my transactions had "closing costs" usually around $100-500 which include escrow (i.e. the $$ is held by 3rd party until you get tittle). The process start to finish can take 8 weeks. As I said I bought all of mine resale: WKORV-North Oceanfront (2 bedroom 176,000 staroptions), Sheraton Vistana Villages(2 bedroom 81,000 staroptions), Marriott Grande Vista (includes 3525 destination points option, Marriott reward points exchange for hotel stays) (3 Bedroom every other year, DVC Beach Club 150 points all benefits as "new DVC", DVC Saratoga springs 150 points (limited benefits) and Hilton Grand Vacation Club Flamingo 4800 points per year (all benefits exchange for Hilton honor points for hotel stays etc..). I typically rent DVC for $13 per point ($3900, rent studio side of WKORV $1900 and use everything else. This year spent 2 weeks on Maui, 3 Weeks in Orlando. In 2018 I have 3 weeks booked in Feb for Maui, 1 week on Maui in July and will book 3 weeks in Orlando and possible pay cash through II for other places (II cost usually runs $500 per week in a 2 bedroom in Orlando Marriott in fall, sometimes as low as $350 for 7 nights) Maintenance fees per year are $7450 before rental receipts.
 
LeaveVT said:
I'll fess up - another happy ts owner here. I own two. One is a floating week that I bought for less than $500 on eBay strictly to exchange, and when I deposit it I also get a second week to use. The other is a points-based system whose locations we like - they have 9 locations and we typically drive up to Quebec at least twice a year and fly to either FL or CA once a year, typically for 4 to 5 days each time.

Between these I typically get about 20 to 25 days in 1 or 2 bedroom units with a kitchen (very important to us), for an annual cost of slightly less than $2,000.

I've done about 30 exchanges over the years both for vacations and for conferences that I've attended for business, in such cities as San Francisco, Boston, New York, Phoenix, Edinburgh, Scotland and Dublin, Ireland plus non-city destinations all over the US, Canada and Mexico. I love planning these trips, and since I'm retiring on October 13th:dance:, I expect to be planning even more. Already have 3 trips set for 2018.
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Are all you costs included with this 2000 figure. For example the cost of a premiere membership to the timeshare swapping site which get you earlier access to open dates. how about the fee to deposit the weeks and the fee to redeem the weeks, how about the random resorts that charge for heat and power? or the ones that tack on cleaning fees? 25 days for an average of less then a 100 bucks a day. I find resort add ons ad fees really add up. My SIL sometimes gifts us a "free week" ...How about maintence fees? I find the fee structure a very underhanded way to raise prices on each week of use.
 
Sunset said:
I bought mine on e-bay, for the price I paid, who cares about title insurance ?
However, I think title insurance was part of the deal, as the title did have to be transfered, but I don't recall hiring a lawyer.
I think the seller provided all that, as it was from a timeshare clearing place.

When I handed back my timeshare, I paid a lawyer $250 to do everything, it was a lawyer the resort said to phone.
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braumeister said:
I think there are several companies that specialize in resales of timeshares.

Here's one:
Sell Timeshare | Find Timeshare Sales & Rentals | SellMyTimeshareNOW
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CaliKid said:
When you buy a timeshare on Ebay, Redweek, etc... you go through a regular title company. The same for Marriott, Disney, etc... the title company sends the notice of purchase to the timeshare company as they all have right of first refusals (ROFR). Disney exercises their ROFR more than others but it's not a big deal. I have had Westin exercise on a couple different weeks I tried to buy. That's ok. No cost to me except a minimal amount of time. I want a deal that barely makes it through ROFR so I know I didn't get ripped off so I will keep trying a similar purchase until one goes if I want to buy a week. There are some less than reputable dealers so you might check tug.net before buying. In fact, check tug.net for a TON of info on whatever timeshare you buy.
Click to expand...

capjak said:
You can buy Disney and others resale. I bought two off ebay others I got from research on Timeshare Users Group - The first and largest online community of timeshare owners providing timeshare resort reviews, timeshare ratings, FREE timeshare advice and FREE Timeshare Classified ads! also redweek.com is a good site there are 100's of resell sites, but be careful you do not want one that has a not so great rep.

All of my transactions had "closing costs" usually around $100-500 which include escrow (i.e. the $$ is held by 3rd party until you get tittle). The process start to finish can take 8 weeks. As I said I bought all of mine resale: WKORV-North Oceanfront (2 bedroom 176,000 staroptions), Sheraton Vistana Villages(2 bedroom 81,000 staroptions), Marriott Grande Vista (includes 3525 destination points option, Marriott reward points exchange for hotel stays) (3 Bedroom every other year, DVC Beach Club 150 points all benefits as "new DVC", DVC Saratoga springs 150 points (limited benefits) and Hilton Grand Vacation Club Flamingo 4800 points per year (all benefits exchange for Hilton honor points for hotel stays etc..). I typically rent DVC for $13 per point ($3900, rent studio side of WKORV $1900 and use everything else. This year spent 2 weeks on Maui, 3 Weeks in Orlando. In 2018 I have 3 weeks booked in Feb for Maui, 1 week on Maui in July and will book 3 weeks in Orlando and possible pay cash through II for other places (II cost usually runs $500 per week in a 2 bedroom in Orlando Marriott in fall, sometimes as low as $350 for 7 nights) Maintenance fees per year are $7450 before rental receipts.
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Lol, I know this goes against the grain , but thank you I have a lot of time to kill, I am interested in this buy cheap and rent it out concept.

If I find a bargain I will ask for more advice, ty for the links.
 
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Blue Collar Guy said:
Lol, I know this goes against the grain , but thank you I have a lot of time to kill, I am interested in this buy cheap and rent it out concept.

If I find a bargain I will ask for more advice, ty for the links.
Click to expand...

Timeshares are easy to buy hard to get rid of, recommend spending 6 months learning what you want ins/outs etc... before ever even coming close to a purchase.....

PM me anytime
 
I laugh about some of the interrogations (eh, presentations) for TS we have been to. The best was by "Burnen" (Hey, like burning down the house!) who showed us the hot tub and told me (in front of the DW), "Hey Dan, just imagine you are soaking in the hot tub and you see your wife, you can just wave your hand and the little lady will come running down with another beer" Yeah, that went over big.

But being retired military, I can get a great room in Hawaii (Hale Koa) or in Disney World (Shades of Green) at dirt cheap prices, so why bother with a time share.
 
dtbach said:
I laugh about some of the interrogations (eh, presentations) for TS we have been to. The best was by "Burnen" (Hey, like burning down the house!) who showed us the hot tub and told me (in front of the DW), "Hey Dan, just imagine you are soaking in the hot tub and you see your wife, you can just wave your hand and the little lady will come running down with another beer" Yeah, that went over big.

But being retired military, I can get a great room in Hawaii (Hale Koa) or in Disney World (Shades of Green) at dirt cheap prices, so why bother with a time share.
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once again, they only fit a certain very narrow band of consumer I stayed at Shades of Green once. never again. so definitely if your a more economical type of traveler, they don't make sense. Moi? I did shades of green once. I did the value resorts once. Never again. when travelling I love my creature comforts so having that sunken tub with a tv right inside the bathroom mirror is important to me. ;)
 
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