I was just offered a way to get out out timeshare if u keep 10 years but u have to add a week. Is it worth it?
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5k for a 1br every other year.
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They are offering a guaranteed buyback but you have to upgrade.
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I don't understand your proposed transaction but as a general principle I'm not keen on adding costs in order to divest...George
I would definitely want to see that in a contract before I bought anything.
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I assume this is from the developer - Spinnaker .
i am aware from TUG of the Raintree TS organization offering a similar type of program about 5+ years ago.
The original ownership was RTU expiring in 2046. The offer was to allow the ownership to end sooner by
accelerated usage.
1)- It required a payment.
2)- It allowed an earlier end of ownership.
3)- it appealed to owners who liked the resorts and would vacation more but were interested in a limited
time frame of future ownership.
I believe
@T_R_Oglodyte could add details.
Obviously the Spinnaker offer may differ in some details - but it could make sense if your
usage plans in the next 10 years fits the offer.
For them -
1) - they get some cash flow now
2)- they keep you as a happy owner
3)- your future obligation is 15 MF .
For you -
1) -It gives a guaranteed exit strategy
2) - It can give good vacations during a time frame that appeals to you.
3)- Your future obligation is 15 MF
IF - this interests you . I would ask if they would allow some sort of added flexibility or acceleration of usage.
(ie) use 3 weeks one year by paying ahead. I would also review the MF increases over the last 10 years.
As
@Shankilicious says - the details in the contract will determine whether this is a good program FOR YOU.
