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What is a timeshare? |
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Timeshare
is fractional ownership in a vacation property. A group
of owners share use of the property by dividing the rights
to use the property for specific time periods. Although
the property is usually a residential project such as
a condominium or resort, developers have applied the
timesharing concept to other types of properties, such
as campgrounds and RV parks. Almost all timeshares
are resort or vacation properties.
The timeshare developer divides occupancy of each
of the units into time-based intervals, usually one
week. The
developer then sells these intervals to buyers. Each owner
of an interval receives the right to use a specific unit
for a specific time period. Each timeshare owner shares
the usage of the property along with the other owners. |
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What is the difference
between deeded and “right to use” timeshares? |
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A
deeded timeshare is ownership in real property just
like your home. A “right to use” timeshare
is non-deeded.
It is like a lease where you receive the right to use
the unit for a specified number of years. There also
points based timeshares that can be deeded or non-deeded.
The majority of timeshares sold at Paradise are deeded
for life and that means you can sell the timeshare
unit, give it away or bequeath it to your heirs, just
like any other real estate property. |
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What is
the difference between fixed and floating weeks? |
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In
a fixed week system, your occupancy right is guaranteed
to be the same week and the same unit every year. In
a floating week system, you have the right to use a unit
during a specified season but you must contact the resort
to reserve a specific week during the float period. If
you usually vacation at the same time every year and
are interested in returning to the same location frequently,
a fixed week will suit you best. This way you know the
week the timeshare will be available to you and exactly
what unit you will occupy. The Hyatt High Sierra Lodge
in Incline Village offers fixed week timeshares. However,
if you want to vacation in the same location frequently
but your vacation times change from year to year, a floating
week is a better fit. Most resorts at Lake Tahoe offer
floating week timeshares. |
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How long do
I get to stay at the resort if I purchase? |
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Usually
one week or 7 nights. Timeshares are typically sold in
intervals consisting of a seven-night stay. |
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Can I use
the resort at other times in addition to my week usage? |
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YES.
Most resorts offer additional time to owners at a reduced
rate. This benefit is most commonly known as bonus time. |
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Will I receive
all major benefits that the resorts offer if I purchase
through Paradise Timeshare Resale? |
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YES! All
major benefits transfer to you when you purchase a timeshare
on the resale market. The property's Homeowners Association
benefits and rules apply to all owners regardless of
how the property was acquired. |
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Will I have
to pay any outstanding maintenance fees in addition to
the purchase price? |
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NO! Every
sale is processed through an escrow company and is guaranteed
to be free of outstanding balances. The only additional
purchase expense will be escrow closing costs. |
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Will I receive
clear title on the property? |
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YES! Every
sale is processed through a title and escrow company. |
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Do I have
to pay a maintenance fee on my timeshare? |
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YES. A
timeshare property's Homeowner's Association collects
an annual maintenance fee from the timeshare owners to
keep the property in first class condition. Your maintenance
fee also covers all utilities, insurance, furniture and
deferred maintenance. As an owner, you can actively participate
in your homeowner's association if you wish. |
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Can I exchange
my timeshare to a different resort? |
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YES! Timeshare weeks can be reserved at your home resort or
traded to other resorts for a fee through an exchange company
such as RCI and II. |
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Why should I purchase
a timeshare? |
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Purchasing
a timeshare can divert your lost vacation dollars into
a piece of vacation real estate that will serve your
vacation needs for the rest of your life. You will stop
vacation inflation, which means you SAVE MONEY!
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Benefits
to owning a timeshare: |
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- You will have guaranteed quality
future resort vacations for yourself and others in
your family. You simply cannot put a price on this
precious time together with your loved ones. The
warm memories of your family vacations will last
for a lifetime!
- You will enjoy a higher style
of vacation as opposed to staying in a hotel. You are
treated with the respect of an owner, not a renter.
- You will build your own equity
rather than that of your vacation landlord AND enjoy
some of the finest vacation accommodations available.
- You will have the privilege
of using Bonus Time at your resort, so you can enjoy
mini-vacations in addition to the timeshare week(s)
you own.
- You will save hours of planning. Timeshare
resorts frequently have great activities and tours arranged
for owners. You can relax and enjoy this precious vacation
time with your family and friends.
- You will save money! Timeshare resorts
generally offer accommodations that are much larger than
the standard hotel room. They often have kitchens and
private bedrooms. That kitchen alone could easily save
you $100 or more per day by not dining in expensive restaurants
for every meal. You can stock up the refrigerator just
like home.
- When you purchase a deeded timeshare;
you own it for life just like your home. You can sell
it whenever you want or will it to your loved ones as
a special gift.
- You can rent your timeshare
week and use the extra income to cover your expenses.
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This is the perfect time to purchase
a timeshare and guarantee a fabulous vacation every year.
Simply call one of our knowledgeable timeshare professionals
at 1-800-996-2001 to learn the many advantages of timeshare
ownership. |
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