Newbie: Questions on TS prices and selling getaways?

Hello. I'm totally new to the timeshare scene. We were planning on buying a timeshare in Florida for about $5500 with an Interval Gold membership. But I saw on a few sites where the resale timeshares cost around $100 or $200 with maintenance fees of $400-$500 per year. So here are my questions:

1. Resale Timeshares that are for $100 to $200...are they the real deal? How do you tell what is legit and what is a "scam"? What are the safe websites to use to purchase resale timeshares?

2. Some of these timeshares offer the Interval Gold membership. I hear the getaways for a 1-bedroom for a week can be around $299. Is that true? If not, what is the average getaway price for a 1-bedroom for a week?

3. The salesperson at the timeshare we went to said that you can even SELL your getaways for a higher price. Thus, if we pay $179 for a one week getaway in the Caribbean (he showed us print-outs), we can sell that for $1500. Is this true? Has anyone ever sold a getaway? Is it even allowed?

Thanks for answering my questions.

JB

If you are dealing with sales person [Developer] and their mouth is moving they have probably lied to you or just clueless or both! You are over paying so back off like it seems your doing by asking questions. Buy resale and at this time there are so many good deals out there.

If resort is sold out many good resorts will have a resales dept on site. These sales people are better because of the connection with the resort. You still pay a little more and do get some perks and some times this is best way to go. We bought our second unit last year from our resort resales dept because of some of these perks. We spent $5000 because we were already owners instead of the $6500 non-owners would pay and had two years added on our II account. Also had about $800 in discounts at the resort and we used all or gave some away. Also had 16 bonus days which is less than normal owner bonus time.Also had the maintenance fee paid for one year{$884.00} by resort resales so this was another savings.

We looked at timeshare forums for about a year but since the building we wanted was one of the two buildings most asked for we never found a good deal so resales dept worked for us.

You didn't say where in Flordia but if it is Orlando area timeshares are a dime a dozen. Trade value bad because of over building unless your buying in a top resort like Disney or major hotel chain. I doubt this is the case with such a low maintenance fee!

You can find great deals on e-bay because many of these $1.00 bids are because some owner went stupid and paid these post card companys few thousand dollars to take their timeshare and now these people have their profit and just want to get rid of the timeshares.

One of your questions was about the getaways and I think your talking if you join II. The salesman has lied to you because you can not rent out a getaway for profit. You can get guest cetificates for family or friends and they can pay the cost and that is it.

When you buy a timeshare that deals with II you can join and If you want you can spend more money and become a gold member which gives you few perks. Any owner being a member of II can join the gold membership for a fee.

Many owners including myself are gold members and it just hasn't been worth the extra money unless you plan on a few getaways a year and most people may take one. Also the getaway list gives you most locations in off season so unless this work for you there isn't much chance to use them. We like many others not renewing the gold membership in 2010 as we have never used the getaway. Many of the discount coupons are only good at places we wouldn't shop or eat anyway so this is a waste for us too.

I will say some nice resorts pop up on the getaway list and you can get them for much less than owner trying to rent one. I have seen many on Redweek that want thousand dollars or more for the week and you can get it for half their price. Have also seen resorts that are on the Redweek exchange on the getaway list and you can save mega bucks on II. Many of the getaways in places like the Caribbean offer studio's most of the time on a getaway so unless its just you and the wife its useless to you.

Hope this helps you and I would say not to buy the unit from a developer but buy resale and check bargan basement area's on these forums.

Remember even if it cost you a little more money buy a timeshare that you would enjoy going to each year and exchanging just a plus.

PHILL12

jamesb758 wrote:

...I hear the getaways for a 1-bedroom for a week can be around $299. Is that true? If not, what is the average getaway price for a 1-bedroom for a week?

...The salesperson at the timeshare we went to said that you can even SELL your getaways for a higher price. Thus, if we pay $179 for a one week getaway in the Caribbean (he showed us print-outs), we can sell that for $1500. Is this true? Has anyone ever sold a getaway? Is it even allowed?

Phil gave you some great information, but I want to elaborate a bit. As Phil said the inexpensive Getaway deals are mostly for off-season short-notice travel. Somehow I think II has raised it's prices, though you can probably get a great deal on Cape Cod in Jan/Feb. Even Getaway's for Palm Springs, CA in the MIDDLE OF THE SUMMER are going for $230, $330, and $430 for studio, 1 BR and 2 BR units respectively.

As for re-selling a getaway. You cannot. It is prohibited by II. If II discovers that a getaway was resold, the reservation will be cancelled. And besides, you not going to find too many $200 deals for the Caribbean except maybe last minute weeks during hurricane season.

James, Mike is right about the pricing on getaways!

Mike I hate to admit it and maybe its all these pills I'm still taking after two knee surgeries in four months with knee replace last month but I didn't have the prices to list on here!

PHIL