Owning timeshare allows you to prepay for your vacation accommodations in advance, providing your family with a lifetime of luxurious vacations at today's fixed, low rate. Timesharing (also called vacation ownership) enables individuals on a variety of budgets to enjoy annual, week-long vacations at premium resort properties without the exorbitant costs and hassles of outright ownership. The main difference between traditional real estate and a timeshare property is that ownership of a timeshare is shared by multiple individuals who each have an interest in the property and can use it during specific times each year. Timeshare owners also split maintenance costs for the property, making it a much more affordable way to vacation than outright ownership.
Simply put, a timeshare resale refers to an interest in a timeshare property that is being resold by the current owner. Compared to the alternative (purchasing from a developer), by owner timeshare resales are much more affordable. In fact, in almost all cases, resale timeshares are priced between 20% to 70% less than the identical resort timeshares. Why? Sales of resort timeshares occur primarily through resort-funded timeshare sales presentations which include free giveaways to attract attendees. In order to cover administrative costs for the presentation and marketing expenses for the incentives, resort timeshare prices are inflated. If you buy timeshare resale, on the other hand, you pay only the actual fair market value of the property, making timeshare ownership even more cost effective! At Sea Club V Beach Resort, we offer an extraordinary selection of discounted timeshares. Browse our inventory of timeshares for sale by owner and start saving today!
Yes buying resale doesn't alter the concept of timeshare ownership. Owners share the cost of maintaining their units as well as the common grounds of the resort property by paying a maintenance fee typically ranging from $500 to $850 annually. When pooled together, these low fees pay for beautification, capital improvements and general wear and tear upkeep of the property and grounds.
Yes. You just have to join your home resort's exchange company or an affiliated independent timeshare exchange company for a nominal fee. The largest and most prominent independent exchange companies include Resort Condominiums International (RCI) and Interval International (II). These two companies handle 95% of all timeshare exchanges and are affiliated with over 7,500 resorts around the globe. The concept of timeshare exchange is quite simple. By exchanging your timeshare, you trade your week at your resort for another timeshare owner's week at another resort, enabling you to travel the world with the purchase of a single property. The process of timeshare exchange is also quite simple. Owners deposit their timeshare weeks with an exchange company, and can then select from thousands of comparable weeks deposited by other timeshare owners within the exchange network!
A deeded timeshare resale property is similar to traditional real estate in that you will own the timeshare indefinitely. Accordingly, the deeded property can be sold, rented, given away, donated or even willed to your heirs. With a purchase of a unit week at Sea Club V you will have a deeded property in perpetuity. Leased timeshare resale properties and RTU (right-to-use) timeshare resale properties are the same thing. Leased timeshare ownership enables you to use a specific week at the property for a set amount of time, typically ranging from 20 to 99 years. When the lease matures, the right to use the property terminates, and the timeshare interest normally returns to the resort.
Fixed, floating and flex are terms used to refer to the three types of timeshare weeks which you can own.
Fixed week ownership allows you to use a timeshare unit for a specific, fixed week annually for as long as you own the timeshare. Weeks are identified by a unique number starting with the first full week of the year (week one) and continuing through the end of December. A fixed week will typically start on a Friday, Saturday or Sunday depending on the resort. View our timeshare calendar for an idea of what weeks might suit your needs as a timeshare owner.
Floating week ownership is a little more flexible. Depending on the resort's availability, you may use your timeshare week at any point during the year. We recommend that owners who choose floating weeks make their reservations with the resort well ahead of time so as to avoid disappointment.
Flex week ownership is similar to floating week ownership, however, you must choose from a predetermined set of weeks within a particular season. Seasons are commonly designated by demand (see next question). Due to competition among existing owners for prime weeks, availability may vary.
The points system is one of the newest forms of timeshare ownership, and, yes, you can purchase points memberships directly from current owners on the timeshare resale market. This system enables the owner to prepay for an allotted number of annual points that can be used for their vacations. The more points purchased, the more flexibility offered when wishing to travel during high season. Likewise, more points may mean a larger unit or a more desirable destination or resort. Another advantage of the points system is that owners can enjoy more flexible usage options. Points owners are not required to use all their points at once. Instead, they can book single night stays or week-long getaways depending on how many points they have. While flexibility is a major advantage to the points system, it's important to keep in mind that satisfaction is largely based upon resort availability. Sea Club V does belong to the Points Program through RCI Points. You can upgrade your deeded week to Points by contacting the front office of Sea Club V. A one time administration fee to upgrade is customary.
Banking or Deposit Depositing a week of timeshare into an exchange system or inventory pool. Biennial Use of a timeshare week every other year. Owners are often referred to as either odd or even year owners. Developer The company owning the resort. Responsible for constructing the accommodations on-site and selling the product. Exchange Company The system that allows timeshare owners to trade the accommodations they own for comparable accommodations or travel-related services. Most resort companies are affiliated with an exchange company. Many resort companies offer an internal exchange mechanism that allows owners to exchange to resorts within their company's portfolio of resorts. Fixed Week A type of timeshare ownership in which usage rights attach to a specific week of the year each year in perpetuity. Floating Week A type of timeshare ownership where the use rights are subject to the owner reserving his or her week within a season purchased (winter, summer, etc.) or sometimes throughout the year. A year-round float is most often found in resorts with similar seasons, like Hawaii or the Caribbean. Fractional Ownership Leisure real estate sold in intervals of more than one week and less than whole ownership. Fractionals are usually associated with the luxury segment of vacation ownership, offering greater services and amenities. Home Owners Association (HOA) The group of owners that administer the rules and regulations of a resort. Creation of an HOA is often required by state laws. Home Resort The resort location where a new purchaser owns his or her week or designated as the home resort in a club or points-based program. Ownership is usually tied to this home resort and generally involves priority reservation rights in that location.
Interval or weekly interval Vacation ownership as measured by a set number of days and nights of annual use, usually one week. Lock-Off A type of timeshare unit consisting of multiple living and sleeping quarters designed to function as two discrete units for purposes of occupancy and exchange. The unit can be combined to form one large unit or can be split or locked-off into two or more separate unites, allowing the owner to split the vacation into multiple stays or bank all or a portion for exchange purposes. Maintenance Fee A fee that timeshare owners are required to pay, usually on an annual basis, to cover the costs of running the resort, including daily management, upkeep, and improvements. Points A currency that represents timeshare ownership and is used to establish value for seasons, unit sizes, and resort locations. Points are used by some developers for both internal and external exchange. Points Conversion Program An offering whereby owners of a timeshare interval(s) pay(s) a fee to convert their interval for the equivalent in points. Rescission Sometimes called a cancellation or cooling off period. A period of time during which a consumer has the right to cancel a purchase contract and obtain a full refund of his/her deposit with no penalty. Dictated by state statute and company policy, rescission periods vary from state to state, but range on average from 5 to 7 days. This is another example of the strong consumer protections built into the timeshare sales. Resale A vacation ownership interest that is sold on the secondary market by the original purchaser to a third party. Right to Use A timeshare owner's right to occupy a unit at a resort for a specified number of years and having no real estate interest conveyed. Timesharing A term used to describe a method of use and/or shared ownership of vacation real estate where purchasers acquire a period of time (often one week) in a condominium, apartment or other type of vacation accommodation. Timeshare is also known as vacation ownership. Trading Power A term used for the value assigned for exchange purposes to a member's deposited vacation time. Trial Membership A product offered after the initial sales tour consisting of travel-related products and services packaged with an opportunity to experience the resort developer's primary vacation ownership product within a defined period. Sometimes called a sampler program. Vacation Club A term used to describe various types of timesharing and usually involving use or access to more than one resort location and other vacation and travel services. However, the term is used for many different purposes, including clubs which may have nothing to do with timesharing. Vacation Ownership A term often used to describe resort timesharing.
This calendar will help you plan your vacations and make travel arrangements. At most resorts, the check in days usually fall at the end of the week on Friday, Saturday or Sunday. It is a good idea to verify the check-in date with other resorts if you are using RCI or Interval. You may also want to download our printable yearly calendar with week numbers to keep as a reference.
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