Q. What is a timeshare?
A. A timeshare is a vacation ownership without
the cost of owning a property year round. You pay for the time you use
each year. You may use your home resort every year or exchange it for thousands
of other affiliated resorts all over the world. A timeshare also
allows you to stay at five star and gold star resorts for very discounted
prices.
Q. What is a fixed or set week?
A. A fixed or set week is used at the same time
every year.
Q. What is a float week?
A. A floating week is time that can be used anytime
of the year based upon what is available at the resort.
Q. What is a banked week?
A. A banked week is a week of time deposited
with one of the exchange companies to be saved or used at a different resort.
Q. What does exchanging mean?
A. Exchanging is when a timeshare week is traded
with other timeshare owners for a one-time use. Exchanging
can be used to go to resorts all over the world.
Q. What is deeded property?
A. A deeded property is owned for life and may
be willed to someone.
Q. What is a leased property?
A. A leased property is owned for a specific
number of years and only the remaining time can be willed.
Q. What are maintenance fees?
A. Maintenance fees are an annual fee paid to
the resort to keep the property in good condition and improve the property
regularly.
Q. What is a point system?
A. Point systems are sometimes used instead of
weeks. Points can be used for daily stays, weekend getaways, full
week stays or sometimes used at other affiliated resorts. Additional
points can be purchased but usage varies from resort to resort.
Q. What is red, white, and blue time?
A. These colors are used for rating the desirability
of a certain time of year. Red is considered the most desirable time
of year followed by white and then blue for off-season.
Q. What is a bi-annual timeshare?
A. A bi-annual timeshare gives a week that can
be used every other year. Maintenance is normally paid accordingly.
Q. What do II and RCI stand for?
A. II and RCI are the two most used exchange
companies. Interval International (II) and Resort Condominium International
(RCI) handle 98% of all exchanges made world wide. II and RCI are
where weeks are saved or traded for other locations.
Q. What is a Five-Star resort?
A. Five-Star is the highest rating given to a
resort affiliated with Interval International.
Q. What is a Gold Crown resort?
A. Gold Crown is the highest rating given to
a resort affiliated with Resort Condominium International.
Q. What is a lock-out unit?
A. A lock-out unit is a timeshare unit divided
into two separate living spaces with two separate entrances. Many times
this unit can be used as a one bedroom unit for two weeks or a two bedroom
unit for one week. A lockout can sometimes exchange one week for
two weeks.
Q. Will I need a Real Estate broker to sell my
timeshare?
A. No! Real Estate agents are great for selling
homes, but do not have a very good success rate with timeshares.
Realtors charge an appraisal fee, which is not necessary, and also commissions
on the sale. They have no way to ‘show’ the properties and do not
advertise them except for on a list. The properties need to be marketed
aggressively on a world-wide basis. When we are contacted, our buyers
can search all the properties available without any pressure and without
any commissions.
Q. Does my resort offer a resale program?
A. Most resorts do not offer a resale program.
The resorts priority is in the new units where the most money is made.
The more owners the resort has that do not use their time, the more time
available for the resort to rent out.
Q. Should I get an appraisal on my property before
I sell it?
A. You do not need to have an appraisal
to sell your property and Complete Timeshare Services does not recommend
it.
Q. Who handles the closing? Do I need a lawyer?
A. We work only with licensed and bonded title
companies. The title company handles the closing process from start to
finish and a free and clear title is always guaranteed.
Q. Can I use my timeshare and advertise it for
sale at the same time?
A. You can use your timeshare as long as you
haven't accepted an offer for the sale. You can use your property until
it is sold unless you would like the property to be available for rent.
CompleteTimeShares, Inc.
Your All In One Vacation Property
Marketplace.
CompleteTimeShares Services,
Inc. - Toll free 1-800-584-4007
|