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Friday, April 16, 2010

Smart Checklist for Buying a Timeshare

Many prospective buyers are at loss when deciding what important factors that should be considered when buying a timeshare. As we see it today, a number of owners are trying to get out of their timeshares and one of their reasons is regret seeing that they aren’t optimizing their ownership. In this article, we will provide you with a checklist to make sure that you are not missing the important criterions that should be weighed against the timeshare you are buying.

If buying through a broker, make sure that he is licensed. The following are some of the good questions that you should ask:
* What is the maintenance fee of the resort and do they keep raising it every year? If yes, by how much?
* What are the chances of getting a good timeshare like in a desired week?
* By what date you should make your reservation at the earliest?
* Are there any extra benefits accompanying your timeshare unit?
* Does the company have bonus week program?
* Can you exchange your timeshare without joining an exchange company?

In many cases the descriptions provided by the timeshare company or the reseller turns out to be misleading like the location, size of the unit etc. Thus, see the unit before you buy. Also, get references. You may ask the neighboring units what they think of the amenities and the management.

Meanwhile, you should do your homework to find out the prices in the area you are buying. You can do this through the internet. Keep in mind that if you are buying a resale timeshare unit, it should be as cheap as half the price of the new timeshare unit that developers sell.

The above-mentioned points can be your guide when buying a timeshare. In this way, you can be an informed buyer unlike many of the owners today who end up in regrets and in their efforts to get rid of their timeshares. Remember, before you buy one, some important things must be considered carefully.

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