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Tuesday, May 29, 2012

How Timeshares Work


A timeshare is a different kind of real-estate purchase. Instead of paying full price for the property and owning it yourself, you pay a share of the price. This share allows you to use the property for a certain period of time every year. The rest of the year, other people who purchased shares get to use the property. How long you get to stay there depends on your share. A 1/52 share will get you one week per year.
Most timeshare purchases are deeded  timeshares. This means that the purchaser is buying an actual share of ownership in the resort. Non-deeded timeshares, also known as right-to-use, certificate or vacation-interval timeshares, are more like a club membership. The purchaser owns the right to use the property for a specific time period but doesn't own any real property. The terms of a non-deeded timeshare can include an expiration date, while deeded timeshares confer permanent ownership.
While a 1/52 share is average, there are smaller shares (1/104, or one week every other year) and larger shares (1/12, which gives you an entire month to use the property each year). Larger shares can usually be split up for use at different times of the year. The specific time of year that a share can be used can affect the price -- a share in the middle of prime tourist season will be more expensive. The specific time when your share can be used is scheduled ahead of time, although it may be possible to trade shares with other people at the same resort or even with timeshare holders at other resorts. We'll discuss timeshare trading in more detail later.
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Details of Participation / Qualification / Terms/ regulations

All timeshares have these terms and regulations. But they differ from different timeshares. But before you go on a timeshare. make sure you read the terms and regulations.
Below is an example of a timeshare agreement.

Attendance to a 90-minutes to 2 hours sales presentation at the Resort's sales center is required. All persons must be between the ages of 25-65 married or co-habitating with the same address in both of their driver licenses . Single ladies qualify as long as they are 30 yrs. of age or older with annual income of 45K or more. Parties must attend the sales presentation together. Combined annual income must be at least $50,000 with a major credit card. Guests must present a major credit card and valid photo ID at the tour reception desk. Not eligible if you have previously toured any timeshare property within the past 12 months. No "group" tours will be accepted, no more than two families occupying the same villa. If you have a reservation with us, we cannot offer another reservation to other friends or relatives of yours, but they can stay with you in your villa if the maximum occupancy allows it. A $375.00 penalty will be split between two or more families related in any way (relatives, friends, neighbors, etc,) travelling together with two or more different reservations. All reservations are subject to availability and based on a first come, first served basis. Failure to attend the sales presentation, or failure to qualify, will result in penalty rate of $300 in addition to the package price paid. This vacation package is non-refundable; however, it can be rescheduled one time upon 72 hour advance notice and is subject to a $25 rescheduling fee. In the event you cannot travel on your scheduled dates, you must give at least 72 hours advance notice of cancellation to avoid “no show” charges. Failure to give 72 hour notice, will result in forfeiture of your vacation package. Should you desire to re-schedule your arrival date, simply let us know prior to 72 hours in advance of this confirmed arrival date, and based upon availability, we will be happy to help you select other travel dates within the next six month period. No refunds for early departures. Offer subject to change without notice. Travel must be completed within one year from date of purchase. This offer is not transferable and is not valid in conjunction with any other offer. In the state of Florida residents of Brevard, Lake, Marion, Orange, Osceola, Polk, Seminole, Volusia, Miami-Dade and Broward Counties are not eligible for the promotion. All other Florida counties are elegible. Calypso Cay Resort owners are not eligible for the promotion. No offer to purchase vacation ownership interest will be valid in any state or other jurisdiction in which registration requirements have not been met.

IMPORTANT NOTE: Participants in the promotion who do not meet the qualifications set forth in the above Details of Participation, including those who fail to attend the sales presentation, will have charged to their credit card a $375 penalty fee. Participants with confirmed reservations who fail to check into their reserved accommodations on the first reserved date or who fail to reschedule their reservations AT LEAST TWO (2) WEEKS IN ADVANCE OF CHECK-IN DATE will forfeit the package purchase price. By making a reservation in response to this promotion, you are agreeing to this policy.

However the only proof they ask for is a Valid Credit Card, (no atm checking or saving cards) your driver license and your spouse driver license.
They do not ask for proof of income nor do a credit check.
You can Bull Shit your whole way through.