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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What is an off property timeshare consultant?
To keep it short and sweet – these are the people lurking around hotels, shopping malls, resorts, and calling you on the telephone to that try to convince you to attend a timeshare presentation. They are known as an OPC’s, or off property consultants, and tend to be some of the best salespeople in existence. The OPC I encountered during my stay in Vegas was very successful in coercing my husband and I into attending a “brief” presentation for some property down the street in just a matter of minutes. After a few words about a great, new, up-and-coming area along the strip, and the promise of two Lance Burton tickets, we were in the van, on our way to make the worst purchase of our lives.
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If you have exhausted all of your other options for getting rid of your timeshare including selling on the web, auctions sites like eBay and Craigslist, donation to charity, and giving it away, a timeshare foreclosure may be your only option. The time share foreclosure process is somewhat similar to a home foreclosure, in that eventually the property will eventually be returned to the lender and sold at a sheriff’s auction to the highest bidder. Being armed with information, and knowing how this process can affect you and your future purchasing/lending power is a key part of a successful foreclosure. This post will help to prepare you for what may lie ahead, and provide information regarding credit score changes you may experience as a result of a timeshare foreclosure.
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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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