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Wanting to buy a timeshare resale! How to?

[Q=erminiau]Question: if I were to buy a timeshare off someone here on Redweek, what FEES would it entail? Say, I bought it for $3000 off somebody, does that mean I dont have a mortgage? That all I have to do is pay maintenance fees? Do maintenance fees go up every year? Do I have to play closing costs? Transfer Fees? ANY FEES?? Help!!![/Q] The closing fees (about $200-300) would have to be decided on between you and the seller. Most, if not all, resorts charge some sort of a "resort transfer fee" which can range form $100 and up. If it's a Wyndham property, Wyndham will charge at least $299 for a transfer (in addition to the closing fees). Ask for an estoppel letter from the resort to make sure the owner is up to date with his maintenance fees and has his mortgage paid off. As for maintenance fees, it's almost guaranteed that they will increase each year. And they have to be paid whether you use the week that year or not. If I were in your shoes, what I would do is find out what the current maintenance fees are and compare those with what it would cost to rent from an owner. If you see the fees surpass what a rental might cost, then I would recommend you just rent there each year that you want to go there.