Original Message:
BUYING DEVELOPER vs RESALE (typical scenario) (by R P.):
lisag314 wrote:How can we be sure we are registered as owners with the resort?
lisa, when you find the resale you want to purchase, get in touch with the owner (email). When you have come to an agreement the owner will get in touch with a reliable closing company. The closing company will take care of all the paperwork and hold all monies in escrow until the transaction is complete. The closing company makes sure the transfer of the week is recorded with the county and with the resort (putting it in your name).
Quote:.We're looking to buy even yrs prime week - not sure what "prime" week means? We're leaning towards biannual due to the annual fees being so high otherwise
That's a good strategy if you don't plan to use your timeshare every year. Maintenance fees are high in Florida. As far as prime weeks go, most all of Florida is considered red (or prime), however there's different shades of red in Florida. There's the very busy weeks including holidays, spring break and summer. Then there's less busy times (re: early fall, some spring months and after the first of the year).
Quote:It seems these locations would have high trade value...
Not necessarily since Orlando is over saturated with resorts and it's easy to trade into Orlando with most any timeshare one owns.
Quote:I assume we can join & use RCI??
Sheraton Vistana is affiliated with both RCI and II. You can join either exchange company.
Quote:This is all very confusing and intimidating to me. I see postings that say timeshares are a rip-off and a scam.
Timeshares can be a wise investment in quality vacations if you know exactly what you want, what you're willing to pay and understand the concept of timesharing. When one buys a timeshare with blinders on not knowing anything about timesharing, then yes, it can be intimidating and overwhelming, but if you do your homework (research) then you shouldn't be overwhelmed.
Quote:I look at it as investing in our vacation time over the long haul and leaving something fun and intrinsically valuable to leave our children.
Exactly, timeshares are not a financial investment, they are an investment in quality family vacations.
Quote:Can anyone answer any of these questions and/or offer advice before we take the plunge??? Thank you so much in advance!
There's a forum on Starwood (Vistana's point system) on Tug ( www.tugbbs.com ) with many knowledgabe members that can answer any question you might have regarding the Starwood (Vistana) resorts.
As far as buying from the internet, all but one of our timeshares were purchased via internet ad sites such as Redweek, however we knew exactly what we wanted and what we were willing to pay. When using a reliable closing company, there should be no problems. BTW, the buyer normally pays closing costs but that can be negotiable between buyer and seller.
If you have any further questions, please don't hesitate to ask.