Posted by Rob FL on November 18, 1998 at 21:37:14:
I live in Orlando and work at a title company that insures literally thousand’s of time shares every year. I have never bought one, but on the deals that I have seen by others, the only one that makes money on these is the developer of the timeshare. What a great idea. Take a condo worth 80K and sell off 52 separate weeks in it for say average 4K each. 4,000*52=$208,000 for an $80,000 condo. Also remember, you have to pay an annual maintenance fee and maybe a mtg payment on your timeshare. If those fees are higher than the cost of a week hotel stay than you probably made a bad deal. Also how many times in your life do you want to goto to Disney World (I know that sometimes you can transfer your usage rights to other places in the world, like a timeshare in Colorado or something)
There are ways to unload your timeshare unit and maybe get back your initial investment. If you want more info, email me and tell me what time share complex it is in.