|
Resale is definitely the way to go.
For closing, make certain that deeds are prepared by local attorneys. I have seen way too many totally invalid deeds on the Outer Banks, prepared by these out of state ''professional closing companies''.
Make sure what you are buying is a deeded property. You can be subject to a lot of monkey business by managment / developer if your ownership is other than deeded. See the thread ''cancellation by Diamond Resorts'' for the things that can happen in non-deeded arrangements.
Fairfield / Wyndham has a history of playing hardball and being unfair to owners. Google the brohaha at Bluebeards Castle in the USVI, for instance. I would avoid them like the plague.
Supply and demand are the key factors in trading. Nice areas can be overbuilt in timeshare and therefore not be that good as traders. Charleston has a much better supply / demand curce than Myrtle Beach although MB is really not overbuilt yet, especilally for the summer.
Strongly consider where it is you want to vacation yourself when you are buying.
I avoid buying any resort that is still in development or with an HOA board that is controlled by the developer or that is still managed by the developer.
Developers have a bad habit of playing games or subsidizing maintenance fees to make them seem smaller while in sales, and then these things catch up with the HOA after the developer is gone. A resort that is owner-controlled rather than developer-controlled and solidly managed is what I look for.
I would recommend going on check -in /out day and look around and ask questions. Particularly ask and look about their refurbishment program and reserves.
There are often good deals on eBay, but also ask if the resort has a resale board.
Points systems favor developers rather than consumers, and that is why developers are pushing them these days. Deeded, fixed weeks are best.
Last edited by Carolinian; 07-21-2008 at 01:51 AM.
|
