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New to timeshare ownership- help please!
Hello to all,
My wife and I just sat through a Wyndam presentation on timeshare ownership yesterday. We have absolutely no experience with timeshares. While the points ownership program seemed to make sense for our family, I was very uncomfortable with the "one time offer-but it now approach" they took. After 5 hours and 3 escalations to higher level sales staff we finally left- I do not spend that kind of money without serious consideration and research, which of course they did not want me to do. I learned quite a bit during our time there though. After leaving, a quick check on eBay and some reseller websites confirmed what I suspected; buying through the developer is a very expensive path to timeshare ownership. Having determined this, the next question is how to go about securing a property on the secondary market in a safe, protected manner.
This is what I have figured out so far (experts, correct me if I am wrong please):
Maintenance costs matter and seem to vary from property to property
Buying a part of a desirable property is a good idea from an RCI “trade” standpoint
The points program seems better than a locked in week/facility arrangement
Questions for those of you in the know (I am sure that this sort of question has come up many times before so I apologize for my novice-level questions).
Which are the most desirable (easiest to trade) properties? We live in NC so were looking at Myrtle Beach ownerships but I am not sure that the facility you intend to stay at needs to be a consideration in which one you buy.
What is the safe process for buying second-hand? Is escrow recommended? What other fees and steps should be expected? Are there steps and safeguards I need to use to keep from getting scammed?
Are there any downsides to a resale purchase? Are there resellers that are recommended from a reputation standpoint?
What about all these “extra charges” they talked about during the presentation
RCI enrollment fee
RCI yearly fee
Plus partners enrollment
Anything else we need to consider before we take this step?
Thanks in advance to any of you who have the patience to help out a family just starting down the timeshare ownership path.
Regards,
Larry Nelson
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