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What things should you consider before acquiring or purchasing a timeshare?
Answered By Mel Tremaine, Editor
Before you purchase a timeshare, a buyer should realize that it is important to consider the costs in buying an interest in timeshare real estate. It is important that you, as a buyer, should review all the documents and understand all of their rights. Here are some other factors that the buyer should ask himself before purchasing a timeshare:
When is the seasonal demand for property? What are the financial risk and investment potential?
What will be the total costs including maintenance, broker commissions, financing charges and maintenance?
What are the exchange programs with other locations or resorts?
What are the value of gift giveaways and other sales incentives?
Also ask about the State protection and reputation. There are also different types of timeshares to consider which mostly fits under two categories: deeded and non-deeded. Purchasing a non-deeded timeshare gives a membership, license or lease that allows the buyer to use the property for a specific time. These are some of the considerations that a buyer should evaluate before making a decision.
--- permission must be obtained from editor Mel Tremaine to re-publish ---
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