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Frequently Asked Questions

Q. What is a timeshare?
A. Vacation property ownership without the up-front cost of owning a property year round, you pay for the time you use. You may use your home resort every year or trade to thousands of other affiliated resorts worldwide.

Q. What is a fixed week?
A. A set time that can be used annually

Q. What is a float week?
A. Vacation time that can be used anytime of the year based upon availability.

Q. What is a banked week?
A. A week of timeshare deposited in one of the many exchange companies to be saved or banked for use at a later time.

Q. What is exchanging?
A. The act of trading vacation time with other timeshare owners for a onetime use.

Q. What is deeded property?
A. A property that is owned for life and may be willed to someone.

Q. What is a leased property?
A. A property that you own for a pre-determined number of years.

Q. What are maintenance fees?
A. An annual fee paid to maintain and improve the property.

Q. What is a point system?
A. 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.

Q. What is red, white-yellow, and blue-green time?
A. 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.

Q. What is a bi-annual timeshare?
A. A property that can be used every other year.

Q. Who are Interval International (II) and Resort Condominium International (RCI)?
A. The two largest exchange companies. They are responsible for 98% of all exchanges.

Q. What is a Five-Star resort?
A. The top rating given to a resort in the Interval International system.

Q. What is a Gold Crown resort?
A. The top rating given to a resort in the Resort Condominium International system.

Q. What does lockout mean?
A. A timeshare that is divided into two separate living spaces with two separate entrances. A lockout will usually exchange one week for two weeks in a smaller unit.

Q. Do I need a Real Estate broker to sell my timeshare?
A. No, but most brokers charge an appraisal fee and take 20% to 40% commission of the sale. This leaves the seller very disappointed. The real problem is that they don't actually advertise or expose your property to anyone. A buyer must call them to inquire about purchasing and the broker usually will sell the property that they are getting the highest commission on. This only serves their interests. When a buyer contacts us, they are able to search our entire inventory complete with asking price on our website. This allows the buyer to shop for the best deal without any commission or pressure sales tactics.

Q. Will my resort resell my property?
A. Most resorts don't even offer a resale program. If they have new units to sell they will focus on them because they make a much higher profit.

Q. Do I have to have an appraisal to sell my property?
A. No. You cannot appraise a weeks worth of time. The term "appraisal" came about years ago by Real Estate companies so they could charge a fee to advertise timeshares.

Q. Who handles the closing? Do I need a lawyer?
A. It is your choice if you want to use legal counsel, however most buyers pay the closing costs.

Q. Can I use my timeshare and advertise it for sale at the same time?
A. As long as you haven't accepted an offer. You can continue to use your property unless you would like the property available for a potential buyer.


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