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Originally Posted by J1ceasar
Actually timeshares will not be thought of as investments but can be a good deal if you look into the corporation offering them and their history the first thing you should ask is what their maintenance fees are and how much is their reserve. Then you have to ask if is it a Time limited timeshare like a 99-year lease or a point-based system or a real deed system. The only timeshares that have ever gone up are the ones that are on the islands in the Caribbean has any other ones most wanted for trades. By the way there are two major trading companies so you can use your weeks almost anywhere with enough time in advance we had four weeks in Puerto Rico for many years that cost us less than $300 per week for maintenance now compare that to the average of about $2,000 per week for a full one-bedroom suite that's currently being offered and you'll find out that we have saved quite a lot. Of course if you're 65 or older how many times more are you going to be going away? As for the shills I can't speak from any recent experience but it's commonly done in art auctions timeshare presentations and many other places by the way the best place to buy a timeshare is either on eBay or a place called tug t u g where you have owners reselling systems often for zero dollars just to get out of the maintenance fees that they can't afford anymore. Lastly unless your children are well off I definitely would not give them timeshares in your wills unless you discuss it beforehand. The only legitimate two ways of getting out of a timeshare is selling it, going into bankruptcy, or offering it back to the corporation. Excuse me three ways
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I think a timeshare is a horrible product. I wouldn't ask the salesperson any questions. Read the contract yourself. Why would you care what the maintenance fee is today? It can double or triple in a few years after you buy it. Most timeshares can not even be given away and you may need to pay thousands of dollars to get rid of it. But, it is important for any potential heir to know that, if you inherit a timeshare (or anything else), you can refuse to accept the inheritance. So, as a potential heir, do not sign your name as a co-owner to a timeshare. And, if you inherit a timeshare and you don't want it, you can provide a legal notice to the executor that you are rejecting the inherited timeshare.