Looking for advice on buying a timeshare on secondary market

[trackncc]

Hi all, looking for some wisdom please...

• We have a young family (2 kids ages 3 and 5).
• My work schedule is pretty crazy. I run a non profit for kids. Its hard to plan well in advance for when I can take time off. I can pencil something in a month in advance but the concept of knowing for sure I would be free on any certain week 6 months or more in advance just isn't possible.
• We live in KY and since our kids are young right now most of our vacations would be in the smokey mountain area for the next couple years. When the kids get older then we would venture further away.
• I have friends with a time share through I think Wyndham (its either wyndham or RCI). They talk about "last call deals" where you can get a whole week for fairly cheap but you can only book it like a month out. To us that's actually the most attractive feature of a timeshare since my schedule is crazy and our vacations cant be planned incredibly far in advance anyways. We have seen a couple time share presentations (one for Wyndam and one for Blue Green). Of course they want an arm and a leg and have high pressure tactics. The only comforting side is I have peace of mind that everything is official if I bought through there.
• Can folks point me in the right direction on how to have peace of mind buying on the secondary market (where to buy from, what to look for) and particularly any pitfalls to watch out for. I feel like in one of the timeshare presentations they were saying that folks buying on the secondary market didn't get any of the "perks" like access to the last calls. Is that true?

 

[Passepartout]

First, ANY RCI (or Wyndham) TS has access to Last Calls. Resale TSs are exactly the same as those bought retail except the price. ALL timeshares are used. even those bought from the developer. Someone slept in the bed the night before and as soon as you check out, someone will take your place. You can buy on the secondary market from eBay, the TUG Marketplace, or Bargain Deals subforum of this very forum. They all are legitimate, when properly closed and transferred (like real estate, which they are). You can negotiate who does the transfer, but there are TUGgers who do this for a very reasonable price and guarantee it's done right. www.lttransfers.com

Now just a tiny tidbit of caution. Last Calls are cheap, but know that you will seldom find a top-rated resort available during high demand season. Most Last Calls are 2nd or 3rd tier properties during shoulder or off season. You'll never find a Disney or Hilton. Unlikely to find a week at a beach in Summer, or a ski resort in January. Think beaches in winter and 'mud weeks' at ski resorts.

I short, I don't think that access to Last Calls is enough of a draw to buy in and subject yourself to maintenance fees forever.

Jim

 

[jbiza]

Hi all, looking for some wisdom please...

... The only comforting side is I have peace of mind that everything is official if I bought through there.

You can buy resale & still have peace of mind, as when done properly, (as suggested here on TUG & using 1 of the recommended closing companies many of us here on TUG have used), you will have a recorded deed in the county recorder of deeds evidencing your legal ownership.

With RCI, (which is actually an Exchange Co. that one may have an option to use with their T/S, but it does not directly sell T/S), you will have an official RCI membership & account upon submission/approval of the member application form to RCI & payment of appropriate fees.

Actually , with a resale purchase, it may be MORE comforting knowing that one own´s their T/S & DIDN´T pay the exhorbitant developer price.

 

[TXTortoise]

You’re inability to pre-plan, as noted in point #2 above, would suggest you might be better off just renting as needed.

This may be particularly fruitful if renting close to Checkin, when owners may be dropping rental price to fill the unit.

 

[wdinner]

There are a few company's - primarily Marriott that does have some different rules for TS purchased via the resale market. But in general, the comments given above are good advice. In general - and there are exceptions - the primary reason for purchasing a TS is that you 1. Really want to go there every year or 2. Can plan way in advance and request transfers a long time in advance. Otherwise it is much better to save your money and look for a last minute TS rental (TUG is a good place) or check VRBO or similar.

 

[TXTortoise]

There are a few company's - primarily Marriott that does have some different rules for TS purchased via the resale market.

All Marriott week sales are now resales, even through Marriott as broker, (Other than some Caribbean locations and Europe) and I don't think our OP is ready for a Points discussion. ;-)

Trackncc, you might want to answer this profile to help focus on your needs...
https://tugbbs.com/forums/index.php?threads/what-to-buy-questions-for-newbies.208742/

 

[theo]

You’re inability to pre-plan, as noted in point #2 above, would suggest you might be better off just renting as needed.

I agree. Planning / scheduling will become even more complicated when the youngsters soon reach school age. Renting eliminates some of the uncertainty, advance planning and the long term commitment (and the ever-increasing costs) of timeshare ownership.