Original Message:
Re: BUYING RESALE (by R P.):
kimyn2 wrote:Jayjay I am looking into buying a resale TS @ Pueblo Bonito at Cabos San Lucas every year asking for $1,500 with maintenance fee of $550/yr. I know you are an expert of on resale TS, please give me some tips on what to look for before buying resale. I know there is maintenance fee, exchange fee involve. How do we know if their maintenance fee is paid to date, is there any special assessment coming up? how much is the closing cost? and which closing cost is legitimate? Is there anything else that you know in addition to what I mentioned here. Thank you.
You must do your due diligence before purchasing any timeshare and that includes finding if maintenance fees are paid up to date and that there are no liens on the property. You can sometimes do this by calling the resort. You can also ask the resort about possible future special assessments. If the resort won't give out that information then ask the seller for proof of ownership and proof maintenance fees are paid to date. If they are on the up and up, they shouldn't mind at all doing this.
You can research (top left hand corner) for legitimate closing companies and related costs.
I don't know about Pueblo Bonito resorts, except that from what I've gathered most are gold crowns. It doesn't sound like a bad deal and the maintenance fees are reasonable, but be aware of rising flight fares now and in the future.
Just be sure of what you want and how much you're willing to pay. I assume you've researched and compared the different prices on the internet for the week you're looking for.