Timeshare Banking

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Reselling Your Property and other Timeshare topics.

How do I explain “banking” to my buyer?

Timeshare Banking

Explain “banking” to your buyer by answering that if they did not plan to use the specific week that they owned or if they wanted to exchange the timeshare for something elsewhere, they can “bank” it with the resort's exchange company. Usually you will have a couple of years for a “banked” property in which to request an exchange against it. Make sure the owners understand that if they “bank” their property, the exchange company has the right to book someone into that spot. “Banking” can lead to major misunderstanding between sellers and buyers in a resale because it is sometime misconstrued that the “banked” week is still available when actually a successful exchange must be confirmed before they are able to use the week.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Timeshare Tip Site? Request a Tip Now!


Guru Spotlight
Susan Sayour