Frequently Asked Questions
What is a Timeshare?
A timeshare is a period of time which is in most cases a week in a specified size of accommodation villa or a apartment.
What is resale timeshare?
A Resale with regards to timeshare is a week that has been previously sold. If an owner has purchased a timeshare or vacation club membership from a developer and no longer wishes to retain their ownership as outlined within their agreement, they have a number of options available to them. One of these options is to sell their ownership, hence the term Resale.
Why buy Resale timeshare?
For example resale of a timeshare ownership many people in the world.
Many people in the world make the smart financial decision to buy a timeshare via the private resales market as the savings are substantial with up to 80% off the upfront cost.
Families enjoy quality holidays at reasonable prices!
– You have priority Home Resort reservation in your Season
– You have the option to reserve you Home Resort booking in your season 12 months in advance or 13 months, when booking consecutive or concurrent weeks for multiple week members
– You can exchange into 3000 worldwide resorts through Interval International
– You have a 24 day priority window on exchanges to all Marriott Vacation Club resorts via Interval International!
– You can have unlimited Interval International Getaways (including the 55 Marriott Vacation Club resorts) as an Interval International Member
Owning a timeshare in a luxury resort such as a Marriott Vacation Club resort is far cheaper in the long run than renting your holidays. A typical 2 bedroom school holiday week in June in Marriott’s Marbella Beach resort would cost in the region of €2500 for 7 nights when booking on the internet. An average gold season 7 nights maintenance fee is between €900 and €1,000 saving around €1500 per 7 nights.
Most members will cover the initial resales membership cost within the first 5 years of joining and will still own the asset for years to come, which can of course be resold, potentially at a similar price to the original resale purchase price.
Additional nights are available at reduced rates through Interval International Getaways with up to 70% off in over 3000 resorts for Interval International Members and their guests.
What are reasons Resale Timeshare are cheaper than resort prices?
One of the main reasons for resale weeks being available at a lower price than resort/developer prices is due to the costs of marketing and sales programmes incurred by the resort/developer.
Resort sales and marketing is very expensive compared to resales marketing, typically it is known within the industry that at least 50% of the initial price of a timeshare purchased from a resort is allocated to sales, marketing and administration costs.
When you purchase a resale you will pay the current market price depending on current market trends for that property.
Additionally, in some cases, timeshare owners are happy to receive less than they paid originally because they have had their ownership for many years and enjoyed many memorable holidays and achieved good value for money from their ownership.
Does the resort treat owners differently to owners that bought directly?
It makes no difference at all if you purchase a timeshare from a friend, a relative, a broker, a resales company, or the timeshare representative for the resort/brand.
There is no preference given to owners booking or exchanging for those that purchased at the full price directly, over and above owners of resale ownership.
In order to convince you to pay the full price it may be suggested by a sales representative that you will be treated less than professionally by Owner Service, be assured that most certainly is not the case. Owner Services deal professionally with all owners no matter where or how they purchased their weeks.
When purchasing a resale you are simply taking over an existing timeshare membership. You are not buying a copy product or an inferior membership as some salespeople will to try to make you believe.
What are the annual service charge fees?
Service charge fees are the annual charges which you pay when you own a timeshare interest. The annual service charge fees, are the owner’s assurance for the upkeep of the resort in which they own. The fees are usually billed by the management company of the resort in which the owner owns the timeshare interest, or by the owner’s committee. Service charge fees are generally evaluated by the number of units and weeks at any one given resort, coupled with the common areas, facilities and operating costs.
Service charge fees will vary depending on unit size, resort amenities and other determining factors.
What is an exchange/transfer company?
An /transfer company such as Interval International, (I.I.) allows an owner of a timeshare interest, to exchange/transfer (swap) their timeshare for another within their network of resorts worldwide.
Essentially the exchange/transfer company is a timeshare bank, you deposit your week at one location, and take the weeks holiday at a different time of the year (season) and/or a different location worldwide.
Interval International is the exchange company with which Marriott Vacation Club is affiliated to facilitate owners of Marriott Vacation Club timeshares to exchange to other resorts worldwide. Other luxury timeshare brands are also affiliated with Interval International, such as Starwood, Hilton Grand Vacations Club and De Vere Seasonal Ownership.
We can easily register you as a new member of Interval International.
Whether you have purchased a resale ownership, at an up to 70% lower price, or purchased directly from a developer at the full price, all exchanges via Interval International are processed in exactly the same way. It does not make any difference to your wide number of options for exchange, whether you are the original owner or the owner of a timeshare resale ownership.
One of the main attractions for Interval International members are the “Getaway” offers, these are extra holiday weeks which you, as member, can purchase at very low prices. As a purchaser of a resale ownership (for a lower price) you see and have access to exactly the same Getaways, including stays at other club resorts, and other luxury brand timeshare resorts, as a direct purchaser from a resort/developer.
Exchanging via Interval International carries an administration fee per week to exchange into over 3000 worldwide properties.
What do I do if a family member wishes to use my ownership?
If you would like to rent the timeshare that you are purchasing, it is very simple to organise. There are a few ways that you can find a rental for your ownership, which are as follows:
– you can obtain the renter yourself, maybe a family member or friend;
– you can advertise through the media and complete the paperwork yourself;
– you could use a rental company to organise everything, including the necessary paperwork.
– In most cases renting your timeshare week will be very similar to gifting it to a friend or family member. You will need to notify your home resort that a guest will be arriving and using your timeshare ownership.
If you use a timeshare rental company they will organise all necessary paperwork for you.
How long will I own my timeshare for?
The length of the ownership you purchase will depend on resort in which you purchase. For example Marriott’s Playa Andaluza ownership is until 2052, Marriott’s Marbella Beach Resort until 2076, Marriott’s Club son Antem Mallorca until 2078 and Marriott’s V´lle de France Paris until 2081.
How is a timeshare priced from resort/developer prices to resale prices?
A timeshare ownership is priced very similarly both from a timeshare resort to a timeshare resale. The prices are usually determined according to the time of year (season) being purchased, the size of accommodation, unit facilities, resort amenities and location of the resort.
Resorts in which demand is high will hold a higher price both at the resort and on resale, and the resorts which have more inventory to sell will be available at a lower price again in both cases.
How do I do a search to see there is no debt on the timeshare I am buying?
It is impossible for us to do a transfer of an ownership with any outstanding debt on it.
Before the timeshare company will even issue any transfer documentation the ownership must be debt free, with the maintenance fee payments current.
Resort sales people may implicate this as a reason not to buy a resale ownership but to instead buy a membership at full price, be reassured this is not the case.
The money you pay for the resale timeshare is always held in an escrow account with Barclay Bank and will not be released to the seller until the completion of the transfer is confirmed, therefore you have no risk.
What do Resort Fiduciary Serrvices Ltd do?
Resort Fiduciary Services Limited (RFS) was incorporated in 2004, and it’s primary role is providing protection to consumers and purchasers by acting as an independent third party in relation to financial transactions.
For FAB Property Spain SL, RFS are providing Stakeholder Services; RFS will control and administer designated “client” bank accounts, into which monies are paid or transferred into by the purchasers. The account details are shown on the purchase contract. Monies will only be released by RFS to the seller and FAB Property Spain S.L. upon the completion of the whole transaction.
Further details can be found on the Resort Fiduciary Services Ltd website