Timeshare FAQ
Buy timeshare
1. What closing costs does the buyer pay?
2. What are the average closing costs when buying a resale timeshare interest?
3. Are there additional fees involved in the purchase of a timeshare?
4. What is a transfer fee?
5. What is a maintenance fee?
6. Are there any other fees or charges associated with owning timeshare?
7. Will I get title insurance?
8. Is the property deeded?
9. How soon after closing can I use my timeshare?
10. Since I have not seen the resort in person, how do I know it's a good property?
11. Can a purchase be financed or is all cash required?
12. If I buy timeshare through resale, can I ever sell it?
1. What closing costs does the buyer pay?
The buyer pays all closing costs, which average approximately $725 on resale purchases of $10,000 or less. Additional fees relative to usage and maintenance fees may result from negotiations with the seller.
2. What are the average closing costs when buying a resale timeshare interest?
On purchases of $10,000 or less, the average closing costs are typically $725 paid by the buyer.
3. Are there additional fees involved in the purchase of a timeshare?
Transfer fees and maintenance fees may also apply at the time of purchase. All fees will be disclosed in the buying/selling process by our knowledgeable resales specialists.
4. What is a transfer fee?
A transfer fee is a fee the property management company charges to update their records with new owner information.
5. What is a maintenance fee?
Maintenance fees are assessed and paid annually by each vacation owner to cover the day-to-day operational costs of the timeshare resort. Some of the items covered by maintenance fees include pool care, landscaping, housekeeping, utilities, reserves, insurance, etc. These funds allow the association to keep the resort in top condition for year-round enjoyment by the owners.
6. Are there any other fees or charges associated with owning timeshare?
Each timeshare resort or company has various annual fees or dues. These will be discussed during the sale process.
7. Is the property deeded?
It depends on the type of property you've purchased. Many properties (right-to-use or lease) do not provide a deed. Some vacation clubs do not provide a deed; instead they share what is called "Owner Beneficary Rights". Your resale specialist can explain this in detail relative to the specific inventory purchased.
8. How soon after closing can I use my timeshare?
That is a term of negotiation between the buyer and seller.
9. Since I have not seen the resort in person, how do I know it's a good property?
Our extensive online profiles are designed to give you an in-depth view of each timeshare resort. Our timeshare sales counselors are familiar with each of our core properties and would be the best source of information about an individual resort.
10. If I buy timeshare through resale, can I ever sell it?
Yes, you can sell your timeshare at any time.
