So you’ve done your research regarding timeshares. You know that you can save money buying on the resale market instead of purchasing directly from a developer. You have spent hours perusing timesharing forums and websites. You are well-versed on the difference between points vs. weeks, and your friends have even started emailing you regarding their timesharing questions. But before you take the plunge into timeshare ownership there is one more step I encourage you to take - try before you buy.
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With most timeshares focusing on middle-class family vacation needs, a former timeshare developer named Rob McGrath saw a niche market in the luxury timeshare market, and decided to launch clubs targeting affluent families that want the benefits of second home ownership. These clubs, known as Destination Clubs, basically use the same model as a timeshare. In exchange for a one-time upfront membership fee, and annual membership dues, a member is able to access a roster of luxury vacation homes around the world, which can be booked based on availability and reservation priorities.
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If you have decided to purchase a timeshare you may be unsure what types of questions to ask before becoming a time share owner. While everyone will have their own personal preferences regarding location, amenities, time of year, and perks, the following checklist is a good starting point for anyone new to timeshare to be sure to cover all of the bases. If you are unsure of any of the terms listed below you may want to refer to the following Timeshare Glossary, or click on the links included in the checklist (they will open in a new window).
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If you are interested in becoming a timeshare owner, you need to be aware of the timesharing scams and lies being told by timeshare salespeople. A timeshare salesperson will promise you the sun, moon, and stars in order to get you to walk out of a presentation as an owner, but they will rarely make good on the perks they are offering during the sales pitch. If you do decide to purchase directly from a developer at a presentation, be sure to get everything in writing including bonus weeks, estimated value, accessibility, resort amenities, and other special offers. Remember, if it sounds too good to be true, it probably is. Keep reading to discover the Top 5 Timeshare Lies.
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A friend of my recently came across a company called IBD Marketing and was in contact with them regarding selling an RCI affiliated timeshare unit in Orlando, Florida. After offering them a sum about 3k higher than what they had assumed they would be able to sell their timeshare for, they called me for assistance. I was unfamiliar with their organization and decided to do some investigating before giving my friend the go ahead to try to list and sell with them. My first search was a simple Google query for “IBD Marketing”, and I have to say I was mildly shocked when I realized that the first 10 listings were all negative commentary on the company, and not one of the links was to the actual company website itself! That was only the beginning of the bad omens…
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