All new timeshares provide some sort of financing, there is very little conventional financing that is available for timeshare resale's under $5,000. Nonetheless, on the whole cost savings more, than makes up for the lack of financing. Regardless there are two alternatives that may be available to the buyer but only with the help of the seller. The first one is seller financing and the second is to take on the existing loan.
Let's talk about seller financing: a fair guideline for both the seller and the buyer would be a down payment of 30% with and interest rate of 10% for a term of 36 months.
If you are about to assume a timeshare loan, you can expect to take on an interest rate anywhere from 12% to 18% with 3 to 7 years left on the loan. This is still a great opportunity for a timeshare owner!
Timeshare Frequently Asked Questions
If you buy a timeshare, what do you own?
Are there fees attached to Timeshare ownership?
Are Timeshares furnished?
Can you do a preview tour?
Can Timeshares be passed down to family members?
Can you explain what rescission is?
Who takes care of my Timeshare property?
What are points?
How do I know my vacation property will have something for everyone?
Can you explain what an interval is?
What are timeshare exchanges in general?
How do I join an exchange company?
How do I make an exchange?
What is the priority for fulfilling my exchange request?
When should I deposit?
How flexible should I be for exchanges?
How do I decide on an exchange vacation request?
What kind of membership and exchange fees can I expect?
Explain the difference between the exchange seasons?
What is an internal exchange from say - RCI?
How long does it take to confirm my exchange?
What do buyers look for when purchasing a timeshare?
How do buyers get financing for a timeshare?
What should I tell a prospective buyer?
How can I entice prospective buyers?
How do I explain a deeded Timeshare to buyers?
How do I explain “banking” to my buyer?
How do I get the best buy for exchange purposes?
Which is better for buyers, fixed or floating?
What’s with the names and colors?
Can you suggest color choices?
How do I make sure as a buyer I will not be scammed?
How do I calculating the total cost of a timeshare?
Should I use a broker?
What should I know about commissions?
What kind of upfront listing fees would I encounter?
What should I know about net listings?
What should I consider if I do a net listing?
What does the term “ten year savings” apply to?
Do I really need an escrow company?
What is an average price of a “Red” timeshare?
How do I donate my timeshare and what are the tax benefits?
What kind of Fort Lauderdale, Florida Vacation is available?
What are some standard priced for resorts in Fort Lauderdale, Florida?
Can you give me a sample of what a Myrtle Beach resort would be like?
Are there any golf resorts at Myrtle Beach
What are some Oahu vacation resorts that are available?
Can you give a couple of suggestions to stay in Tahoe?
Got and ideas for a Las Vegas vacation getaway?
What is a good Williamsburg vacation spot?
What are the top ten resort areas at this time?
What are some of the up coming timeshare destinations?
Where can I still find some good deals?
How do I find a timeshare for retirees?
What is the cost when buying a Timeshare?
What are some types of Timeshares?
Should I buy from a Timeshare developer?
Should I buy a resale timeshare?
How do I find a Timeshare?
Do you have any “noteworthy tips?”
What would be the conditions when accepting the free timeshare vacation?
What should I do before I accept a vacation offer?
What are some guidelines for buying prices?
What is available out of the US?
What is bonus time?
What are timeshare points?
What are the advantages of buying points?
What are the advantages of a points club membership?
What are the disadvantages of Points Club Membership?
What methods are there for buying points?
Are there small point clubs available?
What should I consider before choosing a Point Club?
Can my points expire?
Will my Points ever go up or down?
What is a Use Year, and when does it begin?
What if I don't have enough points to make a reservation?
Do I need to report income from my timeshare to the government?
What will be in my timeshare contract?
What are some of the owner’s responsibilities and liabilities?
How do you earn points after you buy?
What can timeshare ownership offer over a span of several years?
How do you decide in choosing weeks to use your base property or traveling elsewhere?
What about tax deductions for my timeshare?
How should I evaluate a management company?
Is a management company necessary?
What is generally covered in my maintenance costs?
Will I ever need an appraisal on a timeshare?
What are some yacht timeshare amenities?
What does a cruise line timeshare offer?
What will I find for children's activities at timeshares?
What Timeshare fitness programs are available?
What are San Antonio timeshares like?
What will I find a Las Vegas timeshare offering?
What information is available for an Oahu timeshare?
What can I expect out of an Aruba timeshare vacation?
What’s up with Colorado timeshares?
Are day trips offered by timeshares?
What about the heart of New York timeshares?