Is it worth buying timeshares?

January 10, 2014 by  
Filed under Time Share Information

Buying a beach front property or a vacation villa may be easy for rich and wealthy but not for common middle class people. The introduction of timeshare concept gave hope to those people who could not afford to buy a brand new vacation home. That is one of the reasons why the timeshare industry has grown by leaps and bounds ever since its inception in the United States. One of the aspects of a timeshare property that attracts most people is that they can have a wonderful vacation home without having to worry about its upkeep and maintenance. But at the same time people have many misconceptions about timeshares. One of the biggest misconceptions is that they compare timeshares to regular real estate property and consider it as an investment option. But in fact it should be thought as an investment in your dreams i.e. vacationing at a place where you want to go every year. Investing in real estate could reap profitable returns but if you invest in a timeshare it may not be guarantee in fact you may end up losing money.

But what if you still want to buy it and you expect no profit from it but neither loss also at the same time. There is always one question in the minds of those people who are planning to buy timeshares. Is it really worth buying a timeshare? To answer this question you have to go through an analysis of various factors. An analysis should consider factors like comparable rent of alternative accommodation, appreciation of the timeshare property and your finance rate. How do you do it? Here is a simple calculation.

Consider the worth of your investment as profitability. The profitability should be a measure of the comparable rental rate, rate of appreciation and your finance rate. If the sum of all these is a negative number then, assume that you are losing money in your investment. The rental rate is the ratio of the rent of that vacation property to the buying price of that timeshare. Suppose if corresponding rent of that vacation timeshare is $1,000 and the buying price is $10,000 then the rental rate is 10%. Now if we include the annual maintenance cost, membership and all other miscellaneous expenses, if it comes around $500. So the actual saving in rent will be $500 now and the rental rate will be the ratio of $500 to $10,000 which gives us 5%.

Now if we assume the annual appreciation of that property is 10% and the rate of our finances is 16%. If we add rental rate and appreciation and subtract the finance rate you will end up with a negative percentage which means you are losing 1% every year compared to rent. But this formula is only a rough calculation of the profitable of your investment and may not be accurate. This is just to give you a start up. The depreciation rate may vary and so as the finance rates. The maintenance fees and other fees may also vary with different locations. Some resorts have charge reasonable maintenance fee and other fees but some exorbitantly high fees. So, this is also should be a factor in deciding which resort to choose, it is not a smart idea to pay unusually high fees when you don’t know whether you can utilize the property year after year and you may think of renting out the unit which is not a profitable proposition too.

Another good idea is to add up the cost of your timeshare for the entire year i.e. all fifty two weeks and see. For the above investment it may be around 520,000. But, does the timeshare property cost that much if somebody wants to buy it as a real estate property. The extra money goes into the pockets of real estate developers who are selling the timeshare. So carefully weigh in all the factors discussed above before buying a timeshare property.

Tips for Timeshare Buyers

January 10, 2014 by  
Filed under Time Share Information

Every individual waits for that time of the year, a much deserved time off from the hectic activities of day to day life. And when the time comes you keep wondering where to go? Where to stay? Etc. And each time you think I should have planned it out before itself. Smart people plan their vacations long before they actually go out for one. And even smarter people buy timeshare property for vacations to have a peace of mind and a place where they love to enjoy and cherish most beautiful memories in the comfort of your home like atmosphere. Everyone wishes to have a timeshare property at their favorite vacation place. While it may be easy to buy for some, but for some it may be their lifetime savings or hard earned money. So, nobody would like to invest their money in a losing proposition. Here we discuss some of the important things that you have to remember while buying a timeshare.

The first thing to do before buying any timeshare is to understand the types of timeshare. There are basically two types of timeshare plans. A deeded plan, in which you actually buy a piece of real estate property and own it along with other owners but, you can use it only according to the timeshare agreement. A fixed unit, fixed week, deeded timeshare allows you to own a specific timeshare at a specific time each year. A floating time agreement allows you to be flexible about the dates that you can use your timeshare. But reservations may be only first come first serve as many owners would like to go for that option. Right to use timeshare or a non-deeded timeshare is a leased timeshare. Again it is classified into fixed unit and floating time just as in the case of deeded timeshare. You no longer have rights to the property after the lease expires.

Before investing in a timeshare do your homework about the location first. Do a good research about the location, whether you can go there on a yearly basis. Also it wouldn’t hurt if you research the prices of other alternative accommodations in that place. If you are paying for the timeshare then why buy timeshare if an alternative costs you less. But at the same time you should weigh in your comfort factor also. The alternative accommodation might not provide you with the same comfort as the timeshare accommodation. So, it all depends on what criterion is important to you, cost or comfort.

Always find out your timeshare rights before buying. Your rights may be violated in some cases. In most of the cases the timeshare properties are governed by legal documents known as Covenants, Codes, and Restrictions. It establishes rights for real estate property owners and governs how the timeshare should be managed.

Also important thing to consider before buying a timeshare is to decide whether you want to buy it for vacation purpose only or as an investment. If you want to buy it as an investment you should rethink. Timeshares are not one of the most lucrative properties for reselling. Generally timeshare properties don’t have good resale value and the resale is also difficult due to competition from the original seller himself.

While you may think that the cost of buying a timeshare is simply the cost of buying only the real property. You may be wrong. Because you should always calculate the total cost of time share which includes mortgage payments, maintenance fees, taxes, travel cost, closing cost, broker commissions, financing charges etc. That will definitely raise your hair. Compare the cost of alternative accommodation with the total cost of owning a timeshare now. Go with whichever is cheaper.

Also do not forget to read each and every document carefully before signing any agreement. Never ever believe on promises made by word of mouth. Request everything in written. Also find out about the reputation of the seller and whether he is a licensed timeshare seller. Also never accept properties with unfinished facilities, if you do so take a written commitment from the seller that they would be finished within a specific time frame.

Timeshares Explained

January 10, 2014 by  
Filed under Time Share Information

A time share is a name given to a piece of property shared among number of owners. This involves use and cost of maintaining the property. Although the majority of the timeshare properties are condominiums resorts but it will not be a surprise if you find a hotel timeshare or a motor home timeshare or a cruise timeshare or a campground. The choices are increasing by the day. The idea of a timeshare property originated in Europe in 1960s when the property rates were skyrocketing and it was impossible for people to afford a full time vacation house. But by sharing the ownership the burden of maintenance and other costs on single person were greatly reduced. These also boosted the fortune of real estate developers as they were able to successfully market and sell the properties to a greater number of people. But a key point to remember in timeshare properties is that a timeshare is owned by a number of people who have no relation to one another like a standard home ownership.

A technical definition of timeshare property is that an owner has specific time to share you own in a property. But as more and more properties are being converted into timeshare, flexible timeshare options cannot be ruled out. The flexible timeshare offers owners the option of choosing more than one timeshare destination and also more than one specific time of a year.

Timeshare properties are usually found in warm destinations like Florida where people like to vacation a lot. They can also be found in cold weather areas near ski resorts. The timeshare properties are typically furnished in full and usually have one to three bedrooms, multiple bathrooms, a kitchen and a living room. It may not come as a surprise if you find timeshare properties with indoor or outdoor pools. They have become a common feature of most timeshare properties nowadays.

The typical duration of a timeshare ownership unit is one week. Depending on what time of the year you own the timeshare the price may vary. For example, a timeshare property in the month of April in Florida will be much higher than in August. So the rates may vary with varying season and demand. Some resorts give color coding to different seasons depending on the demand. For example some resorts term high demand season as red season meaning the prices of the timeshare will be highest in that season.

Timeshares can usually be inherited to your children like any other real estate property. Timeshare offers not only a great vacation but also great investment. Most people rent their timeshare to others when they do not use their timeshare. This has a double advantage. You earn rent also along with appreciation of the property with passage of time. Timeshare properties are exchangeable and tradable with other properties in most of the cases. While it may be easy for the owners of the red season timeshares to exchange their unit with other owners in any season it might be impossible for owners of low season timeshare owners to get a high season timeshare unit in exchange.

Timeshares can be purchased through financing also but mostly the resale properties purchased from individuals are paid in cash. The cost of maintenance, management and cost to maintain common areas like pools and tennis courts are paid by timeshare owners. Fees may vary and always make sure to find it out before buying a timeshare.

There are many types of timeshare properties. A fixed unit, fixed week, deeded timeshare allows you to own a specific timeshare at a specific time each year. A floating time agreement allows you to be flexible about the dates that you can use your timeshare. But reservations may be only first come first serve as many owners would like to go for that option. Right to use timeshare is a leased timeshare. You no longer have rights to the property after the lease expires.

Tips on selling your Timeshare

January 10, 2014 by  
Filed under Time Share Information

Many people would agree that reselling a timeshare is not as easy as buying one. You get loads of invitations in mails; get courtesy calls and emails to attend a timeshare presentation. They offer you bounties and favors in return for attending a presentation. Why all this? To convince you buy a timeshare. Buying is as easy as making a simple enquiry and many companies come knocking to your house to sell a timeshare. But, have you ever wondered is selling a timeshare as easy as buying one? The harsh truth is “no”. Reselling a timeshare can be a real pain in the neck. That is why many experts advice not buy timeshare as an investment. It is never going to rewards you with the returns of a real estate property. It is an investment in your life, dreams but not for financial returns. True that many people buy timeshare with the intention of vacationing only but certain unforeseen circumstances may force some timeshare owners to resale their timeshare unit. So this article is exclusively for those people and may also benefit others also who are contemplating selling their timeshares due to reasons such as change of taste, family has grown and you no longer want to go to the same location etc.

1. Check with the timeshare developer who sold you the timeshare. Sometimes the developers offer the original buyer an option to resell their timeshare back to the developer. If not find out if your timeshare is associated with a licensed broker handling timeshare resale.

2. You have to be realistic in your expectations. Do not expect wonders. It is a bitter truth that timeshare properties do sell at less than their original price. Not only that, it may be difficult to resale as well especially if it is in a not so popular destination, is a small unit for example a studio and if the time of use is in an off season. It might be a challenging task to sell a timeshare like the one discussed above. But in case of a property which is located in popular vacation destinations, is reasonably big and offers usage during peak season might sell easily. But again even if the property sells it might sell at 30-50% less than its original price. So be prepared mentally about that, think that it is like your car which depreciates with each passing year.

3. Make sure you do your home work first. Research the market well to know about the prices. Also know what you are selling by thoroughly studying all the documents. Try to ascertain whether your property is a deeded property or right to use one. Some right to use property values decrease considerably when they approach their expiry. Knowing all these facts makes you knowledgeable about your timeshare and helps you in reselling the property with confidence.

4. List your timeshare with a real estate agency. There is no dearth of online and traditional brokers. But do enquire whether there is any upfront fee for listing the advertisement or commission on sale of property. You may not want to go with a broker who charges very large upfront fee or commission. You can also list your timeshare in classified ads offered by many timeshare developers. The latest trend that is catching up is to list your timeshare for auction on sites such as e-bay which lest you develop your own ad campaign with your own ideas.

5. Do not fall prey to scammers who might dupe you by offering quick resale of your timeshare. Never believe their promise to resale it quickly as we have discussed in detail earlier how touch it is to resale a timeshare. There is no guarantee whatsoever that your timeshare might resell in a specified time period.

6. Also do not commit to any offer on phone. Do make decisions in haste. Take your time to make a decision and to come to a conclusion whether to accept the offer or not. Also request the offer in writing and also obtain written contract.

Information On Timeshares In Orlando

January 10, 2014 by  
Filed under Time Share Information

Orlando is the world’s most popular family vacation destination. Blessed with one of the longest white sandy beachfronts of the world and safest bathing beach Orlando offers unlimited excitement and fun. It is a paradise for vacationers and especially children. Dotted with theme parks it offers a complete experience to the visitors. The popular destinations of Orlando are:

* SeaWorld
* Downtown Disney Marketplace
* Orlando Convention Center
* Epcot Center
* Disney’s Animal Kingdom
* Disney’s Pleasure Island
* Disney’s Magic Kingdom
* Walt Disney World Resort
* Disney – MGM Studios
* Prime One Outlet Mall
* Universal Studios
* Church Street Station
* Citrus Bowl
* Kennedy Space Center

Also Orlando offers vacationers with a plethora of amenities like beaches, boating, live entertainment, golf, water skiing, restaurants, shopping area, grocery stores, auto rentals, hairdressers, best medical facilities, innumerable resorts, top class hotels and what not. There might not be many people who have not visited Orlando but yes there are some people who cannot afford expensive Orlando. The timeshares provides an ideal choice to those people who want to come to Orlando year after year with families and friends. Some of the best names in the business are Westgate Timeshare, Marriott Vacation Club, Hilton Ground Vacation Club and Disney Vacation Club. The best thing about timeshares is that it not only gives you accommodation but also gives you discount on many entertainment places, theme parks and also restaurants.

No other place in the world offers such outstanding theme parks and facilities as Orlando. Orlando has seven theme parks, three water parks and ninety other attractions. And from world class shopping malls to theaters to fine restaurants, Orlando has everything one needs for a perfect vacation trip. Not only that many departmental stores are located near theme parks for visitor’s convenience.

Coming to the climate, summers are very hot and hum in Orlando. The winters are mild with temperatures keeping around Sixty to Seventy Fahrenheit. The rains lash Orlando from June to September with prevailing hot temperatures. So vacation should be planned accordingly because weather is a factor to be considered. And remember to take light clothing when going to Orlando for the summers.

Orlando is well connected to the rest of the nation and the world by air. Orlando International Airport serves many international and national destinations. It is fifteen miles from central Orlando. There is another airport located thirty five miles north from Orlando by name Sanford Orlando Airport. Also one can travel by train if traveling within U.S. There is an Amtrak station which provides service from Orlando to neighboring cities and to many other states of the country. There is a bus service also within Orlando which connects different parts of the city and suburbs. It also provides free service on some routes.

So, one doesn’t need to think of what to do in Orlando with so many world class theme parks and exceptional facilities. Also the availability of wide variety of transportation choices makes it an ideal choice for visitors to go to Orlando year after year. Also availability of reasonably priced timeshares is another reason to go to Orlando. Many big companies and resorts sell timeshare ensuring the safety of your money and offering the best services. Do you need to know more to get ready for your next vacation to Orlando?

Risks involved in buying Timeshares

January 10, 2014 by  
Filed under Time Share Information

Buying Timeshares can be rewarding for many people. It might a money wheel for some. Last but not the least; it can be a profitable investment for many. But the story doesn’t end here itself. While many people may reap the rich benefits of timeshares there are several others for whom the timeshare investment was nothing more than a mere fraud and dream resorts turned into nightmares. Thus investing in a timeshare should always be done with high alertness and caution. Before signing a contract or a check always weigh in both the benefits and the risks involved. If proper precautions are not taken these money spinners can turn into money losers. Always read the finely written statements before signing a contract.

The timeshares are basically classified into deeded and non-deeded plans. In a deeded plan, an individual buys an ownership in a piece of real estate property. The owner usually gets the title of the property and the property is also inheritable to the heirs of the owner. Where as, in a non-deeded plan or right to use plan, an individual buys a lease, a club membership or a license that lets you use the property for a specific amount of time each year and for stated number of years. But in both the cases the cost of the unit is directly proportional to the season of the year and length of time an individual wants to buy. The rights of the timeshare owner ceases after the lease expires in right to use timeshare.

Every individual takes adequate care while making a major investment. And this applies in the case of buying a timeshare also. You must read all the documents carefully and understand fully what you are getting for your investment before signing any agreements or paying any fees. A professional advice might also be critical involving big timeshare investments. So take expert advice from people who have bought timeshare before or your attorney. Here is a checklist of what all people should consider before buying a timeshare property.

If you are buying a timeshare from a timeshare resale company verify that they are licensed brokers. Easy way to verify this is by asking the license number of the broker. Then you can verify that with the State Department which deals with these kinds of transactions and know about the history of the broker. Be vigilant when you are buying a timeshare from a non-licensed firm, your money would be at stake as the non-licensed firms wouldn’t have much to lose, so greater chances of fraud exist.

Keep in mind that timeshares are for personal recreational use and do not expect profit or loss. A resale of timeshare may or may not reap good return.

If you are buying a right to use timeshare watch out, if the sponsor declares bankruptcy, you may lose your rights.

If you are buying a timeshare in a property where the facilities have not been fully installed take a written commitment from the seller that they will be finished in a specific amount of time.

Any claims made by the seller about the returns on the investment in timeshare should be questioned because the future value of a timeshare depends on many factors.

Do not get impulsive when buying a timeshare. Read each and every paper thoroughly. Take adequate time in researching, analyzing and making a decision to buy a timeshare.

Never believe in the word of mouth, neither on phone or face to face. Request everything in writing especially the promises that were made orally.

Try to find out whether the exchange program will be guaranteed or not. Sometimes it isn’t. So make sure to find it out before buying. Buying a timeshare without an exchange program is not worth the money because you will get bored going to the same property every year and also you will not have the flexibility of schedule if you don’t have exchange facility.

Checklist for buying Timeshares

January 10, 2014 by  
Filed under Time Share Information

Many prospective buyers are stuck when it comes to deciding what important factors that one should consider when buying a timeshare. The buyers today are much more informed than the buyers of few years back. They are more knowledgeable about what they are buying and have done their homework before taking a major step. But still many buyers get confused when asked if they have a checklist of things to consider before buying a timeshare. The following paragraphs 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 you are buying timeshare through a broker make sure that he is licensed. Also find out his reputation in handling timeshares and the success rate. And do not hesitate to ask any questions related to your timeshare. Some of the good questions to ask are:

* What is the maintenance fee of the resort and do they keep raising it every year, if yes how much?
* What are the chances of getting a best timeshare like in a desired week?
* By what date you should make the reservation at the earliest?
* Are there any extra benefits accompanying your timeshare?
* Do the timeshare company has bonus week program?
* Can you exchange or trade your timeshare without joining an exchange company?

Also try to enquire from the broker about the point system. Some reputable firms sell the timeshares for more if they have points system. Ask him if this is reasonable or you are better of buying a resale. Also the factors that determine the cost of timeshare units are demand for a particular week may be high so the price may be high, also demand for a particular location may be high. The size of the unit also affects the price, the bigger units are easy to trade in and exchange hence they are in more demand. Also the reputation of the firm owning the timeshare resort is an important factor.

See the unit before you buy, in many cases the descriptions provided by the timeshare company or the re-seller turns out to be misleading like the location, size of the unit etc. If you cannot see it, if your family members or friends lives near the location tell them to go and see the unit. Also try to get references. When you go and see the unit ask the neighbors what they think of the amenities and the management. You can also enquire from them:

* What they think of the resort?
* Time since they have been vacationing in this resort?
* Are dates easy get without much problems?
* Is the management company good and are they satisfied?
* How about the maintenance fees and other fees? Do they have a good record or they raise it too frequently?
* Is it easy to make reservations and exchanges?
* Are developers planning on improving the property in near future?

Do your homework to find out the prices in the area you are buying. Internet can come handy for checking the prices for example auction sites such as eBay and bidshare.com.
Keep in mid 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. If you are buying a new timeshare through a timeshare company read everything carefully in fine print before signing any contracts. While buying a resale timeshare ask the seller why they are selling it because there can be an underlying problem in their reason to sell like problems with management company or inconvenience. You can get a feel of the potential problems that you may also have to face and can decide whether you may be able to handle it or not. Also make sure that there are no past dues on maintenance fees and property taxes, it will add up to your cost. If you take care of all these important factors you should be able to make a smarter decision in buying a timeshare.

Does it make sense to buy a vacation timeshare?

January 10, 2014 by  
Filed under Time Share Information

Many people have a question when thinking of buying a timeshare. Does it make financial sense or does it make sense at all to buy a timeshare? Well the answer can be both yes or no depending on who is buying and for what purpose it is being bought. In this article we will discuss why it makes sense to buy a timeshare. One of the most traditional answers could be that you own it, but when you rent something you don’t own it. Timeshare industry has grown by leaps and bounds since its inception in this country and many notions that people had earlier have been clarified. Timeshare is no more a small business. Big hotels and resorts are into timeshare business now. It is estimated to be a Five billion dollar a year industry worldwide and approximately two million Americans have timeshares. You might be wondering what lured so many people in America alone to timeshares. Here are some reasons.

Consider this fact you pay rent to stay in a hotel. You pay the rent for staying in a hotel for a week. Suppose it is $900. If you consider a period of 30 years, multiply the cost of living in a hotel for 30 years with $900. It will be $27,000. You spend that much amount and only get a suite with only a bathroom. Now consider this, if you buy a timeshare for $10,000 which has a maintenance fee of $450 annually. The cost for 30 years will be $10,000 plus 450 multiplied by 30. The answer will be $23,500 which is $3,500 less than renting a hotel suite. But here is the interesting fact. You still get to own your timeshare property which will earn some money if not the original price. So your actual expenditure on your vacation will be way less than renting a hotel suite. Then who can ignore the comfort of a home in a timeshare property. A typical timeshare unit has two or three bedrooms, more than one bathroom, a kitchen, a laundry room and a pool plus not to forget all the resort facilities.

Does it make sense now? It does because it also saves you from the hassle of planning your vacation each year because you know when you have to go in turn offering you a guaranteed vacation every year.

How many hotel rooms can accommodate large families and friends? With a timeshare vacation you can invite who ever you want and can host reasonable size gatherings.

A timeshare is like money lying safely in your bank. You can sell it whenever you want. Not only that if you buy a deeded plan, the timeshare gets inherited to your heirs also.

Compare the timeshare with buying a vacation home. You don’t have to worry about upkeep and maintenance also. The management company will take care of everything. You just have to pay the maintenance fee for that. But what a pleasure you can live like you are living in a hotel and still get a feel of your home and have to do nothing.

Apart from these benefits, timeshare companies offer you so many discounts like bonus weeks, discounts on airfare, car rentals, attraction tickets, restaurants and much more.

How to Handle Timeshare Presentations & Sales people

January 10, 2014 by  
Filed under Time Share Information

Have you ever attended a timeshare presentation? I wish you would never attend one. It is traumatic experience sitting through a timeshare presentation. Compare it to buying a used car from a dealer; this is even more frustrating experience as more money is at stake here. What is a timeshare presentation? It is nothing but a sales pitch by the timeshare companies to force people into buying their timeshares. It begins with an invitation offering you an expensive free gift in return of attending the presentation. Now you go to the presentation thinking that there is no harm in attending and you get a free gift also in return, but you realize that you have made the biggest mistake of life only when you sit through the painful presentation.

The expensive gift turns out to be a gimmick and you are subjected to sheer pressure tactics of selling. The presentation usually last for ninety minutes and may go on and on in some cases. After the presentation, the salesperson will encircle you and will ask you if you have any questions. They go to the extent of literally pressurizing you. They want you to either make a commitment or sign a paper before leaving the presentation. When you say constant no to him, the manager will approach and offer you a good deal. Sometimes it becomes very hard to resist the temptation after being offered such great deals. But you have to go mentally prepared to say no to them at any cost. Tell them clearly that you have already spent your precious time and can’t spare your time further. Say that you have an appointment with somebody and you have to leave immediately. And do not forget to take your gift before leaving the presentation after all that was the reason why you attended the presentation.

The salesperson and the managers would do their best to convince you to sign some papers by offering many offers, but you should stick to your resolution to not to fall into the trap by constantly saying into your mind that “no, I can’t afford to buy a timeshare” and “will I be able to make payments every month”. Politely say “no” to any offers however attractive it may look. Also say them that you need time to decide, take their contact number or fax number and tell that you will notify them about your decision. Also tell them that you would not tolerate any courtesy calls or emails.

You can also tell them that you already have a friends or family members in that timeshare location and you don’t need to buy a timeshare. Also another reason you can give them to escape is that you just came to the presentation for the free gift or you can also say that you just wanted to educate yourself about timeshares and it is too early to make a decision about buying a timeshare. You can also say that you are not one of the frequent vacationers and would be able to vacation year after year and even if you go for a vacation you don’t like to go to the same location every year. Also say that you are not in the financial position to invest in anything now or in near future. Thus we have seen it all depends on our mental setup to sit through a presentation and still survive it.

Know your Timeshare Rights

January 10, 2014 by  
Filed under Time Shares

One of the biggest reasons why many people fall into the trap of scammers and frauds is that they do know their legal rights when buying a timeshare. It is always a good practice to know your rights when you are signing any contract or agreement. As with any other industry timeshare industry is also prone to unscrupulous tactics by some people. Everyday you hear a story of somebody being duped into buying a timeshare and the property doesn’t even exist or in some cases, is not up to the standard and what they were promised. We here these horror stores and we should learn from these. Here are few things that you should remember while buying a timeshare.

To understand our rights let us understand different types of timeshare plans first. They are basically of two types. A deeded and title timeshare and the second one are right to use also as called license to use timeshares. A deeded and title and ownership means the buyer owns the timeshare and acquires a specific facility for a specified length of time each year, for a specified number of years (generally 40 years) and a deed. A right to use timeshare means the buyer has the right to acquire all the above mentioned things except the deed i.e. title. A deeded timeshare is inheritable whereas a right to use timeshare is like a lease which expires after certain number of years.

Timeshare industry has also acquired the reputation of used car industry in terms of selling tactics they use. It starts off with an invitation to a presentation offering you an expensive gift. When you actually go there it turns out to be a pressure selling session of a used car dealer who doesn’t want you to go out unless you sign a paper. And the expensive gift also turns out to be a mere gimmick. And the people have to go through the trauma of sitting through the presentation which goes on for two hours also sometimes, full of pressure selling tactics. But as per the law the people are supposed to be informed about the length of the time they have to sit before receiving a free gift. Also they must be informed about the physical condition of the facility. The timeshare companies are also legally not permitted to misrepresent the market value of the timeshare property. They are also not supposed to misinform you about the resale or exchange potential of the timeshare property.

The law also prohibits the timeshare companies from not including the oral promises that were made before the purchase of the property in the written contract and also including any kind of fees that were never ever mentioned orally. The rules may vary from state to state. Some states also have a cool-off period usually of two weeks to allow you to cancel your contract should you change your mind.

Apart from these rights one should also consider things such as do you really want to buy the timeshare? Did u check out the facility? Did you contact the better business bureau? Did you talk to existing owners in the timeshare property? Do you plan to rent it? Do you plan on reselling it? Do you plan on exchanging vacation sites frequently? The answers of all these questions should be found out before making a final decision about buying a timeshare.

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