so are you looking to buy a time chair
well you're in luck they're real easy to
buy
i'm going to tell you how to go about it
right after this
[Music]
hello and welcome to destination time
share i'm jeremy
and we are now into tip number 17 of my
25 timeshare tips of vlogmas
and i just want to let you know on this
channel i like to provide my knowledge
tips and advice to help you get the most
out of your timeshare ownership
so if that's what you want to see be
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on a single video
let's jump into this how to buy a
timeshare
okay so timeshares are actually real
easy to buy as long as you have
the cash now you can purchase directly
from a developer
essentially go to a timeshare resort or
they often always have some type of
telesales as well so you can
simply call up the developer or if
you're visiting a resort
go to one of those sales presentations
one of those wonderful sales
presentations
get yourself a free gift too you can
certainly buy a timeshare from the
developer
pretty easily now if you're probably
watching this you're probably looking
for ways to maybe
buy a timeshare on the timeshare retail
market the secondary market
that is flooded i mean literally flooded
with
timeshare resales obviously you have
supply
and you have demand and unfortunately
there's a lot more
supply than there is demand that makes
it good for you if you're looking to buy
a resale time share
now there are certain perks that do not
come with a lot of timeshare
resale purchases from the major
developers but we won't get into that
today
i'm just going to give you a few places
that you can go to
find a timeshare to purchase
now these places are probably going to
be similar to what you would have seen
if you saw my
how to sell a timeshare video if you
want to see that click on that
right up there the first one i'm going
to recommend here is
redweek.com you can go there and browse
ads just kind of get a general idea of
what they might have
but in order to see the full listing and
to contact owners
you do have to become a member so do
take that into consideration with
redweek.com now the next one is the
tug marketplace timeshare users group
they have a marketplace there
you can go there and search for resale
timeshares
reach out to owners there are also a
number of brokers out there as well
but feel free to reach out and make an
offer
for a time share next one i'm going to
mention here
is one that specializes in marriott
resales and that is ownertrades.com
number of listings out there as well
where you can go to
purchase a timeshare and another one
myresortnetwork.com
plenty of timeshare resale listings out
there
to look at now there are some other ones
that you probably see advertised in a
lot of places
these are big things like sell my
timeshare now
or even timeshares only what i've kind
of run into them with
i have actually made some offers on
timeshares through them
but they have extremely exorbitant
closing costs associated with their
timeshare resales
you do need to take that into
consideration when making offers
that their closing costs might be six
seven eight
even a thousand dollars to close on a
time share which in my opinion is
extremely high
and i'm going to give you a tip in a
little bit here on what to do how to
find
closing companies to help close on your
timeshare purchase
but yeah so just keep that in mind when
making offers there they do have
very high closing costs now the other
place you can go and this is actually
where we purchased
a few of our timeshare weeks and that is
simply ebay ebay is flooded
with timeshare resales whether it be
marriott vestana
hilton diamond i won't mention westgate
there are just so many timeshares out
there available for
sale on ebay and a lot of them run
even they don't even get sold on ebay
they end up with
zero bids but feel free to go out check
out some of the auctions on ebay
just keep in mind that they will quite
often have within the terms of their
sale
how much the closing costs are and
who will do the closing you usually do
not have the ability to pick your own
closing agent through a resale purchase
on ebay okay so now you have a time
share you want to buy you've made an
offer that seller has accepted your
offer
the next thing you probably want to do
is sign a contract
that is usually the best thing to do in
any type of
financial and real estate transaction
just a simple resale contract to
purchase that time share it lays out the
cost
when your first usage will be and
essentially
what type of unit you're buying so you
know that you are now under contract
for that specific unit and if something
doesn't quite happen exactly the way it
should
you then potentially have reason to get
out because it is not per the terms of
the contract
now another thing to keep in mind is to
you want to make sure you
verify your resale purchase so you might
be buying a two-bedroom grand vista in
orlando
platinum season well how do you really
know that it's a two-bedroom grand vista
orlando
in platinum season the way you do that
is with an estoppel
that is something that the time share
developers make available
to essentially closing companies and to
sellers that kind of lay out and specify
what the details
of the time share are that that owner is
trying to sell so that's called an
estoppel
be sure to ask your closing company for
one you want to see a copy of it as well
just to kind of verify for yourself
that what you're buying is what you're
getting
that estoppel or some form of it from
the developer
or management company will also specify
if there are any outstanding
loans or any outstanding maintenance
fees
so you want to be careful you're not
buying a timeshare that has a mortgage
on it
and in most cases you can't buy a
timeshare that has a mortgage loan
because they won't transfer it to you
anyway so you want to make sure that
you're not buying a timeshare that has
outstanding fees that
when they transfer to you if it gets
transferred to you you're not
responsible for them
so last but not least we'll talk about
the closing company this is a company
that essentially specializes usually in
time
share resale transactions much like a
home and you have a title company or a
closing agent
that will help transfer the deed and the
title of
a residential home to you this
is kind of the same thing for a time
share transaction
they essentially take care of drawing up
the deed
making sure that they get the funds in
and holding them
in escrow while the transaction is in
process
and then notifying the developer or
management company
that hey this has been transferred into
your name you're now the owner
let them start using it so then the
developer can go into their system
and update you as the owner of record so
you want to make sure you're going out
and finding a closing company
that is pretty reliable and does a good
job has a good track record
of timeshare closings okay so there
you go how to go about buying a
timeshare keep in mind it is very
easy to buy and very hard to sell
so make sure you know what you're buying
and you buy what you want because
it might not be easy to get rid of later
if it doesn't work out for you
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