Fred Griffin Florida Real Estate, Licensed Florida Real Estate Broker (Fred Griffin Real Estate)

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Rainmaker
6,553,909
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

The con is trying to sell one to be released from the continuing obligations. 

Jan 30, 2020 05:53 PM
Ambassador
4,204,828
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I know people who love them and I also know people who could no longer afford the monthly fees and tried to sell - with no success.

They are next to impossible to get rid of once you sign on the dotted line and get past the 72-hour time-frame in which to rescind the Contract!

Jan 30, 2020 10:02 PM
Rainmaker
1,216,669
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Depends on if you own the property and want to operate it like one or you're thinking of buying one for your own use.

Please clarify.

My Dad ran a time share for years and my sister owns a time share membership for 20 years and loves it. 

Buying one read the fine print about service fees, maintenance fees and exit fees.

Jan 30, 2020 07:25 PM
Ambassador
2,584,607
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Usually, the overpromise - undeliver factor comes into play as a high pressure sales team convinces you to that you need one and to buy one NOW! Maintenance and yearly fees can go up and you have no control over that. Just my personal experience Fred.

Jan 30, 2020 05:13 PM
Rainmaker
520,651
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

They are perfect for those who like to travel and have flexible schedules. Just be sure to buy one that is in the upper tier and belongs to one of the top exchange networks like rci. Lower end timeshares won't belong to any. With a good exchange network you can trade your time for time somewhere else all over the world and some of the resorts are incredible. If you can't use your time this year you can bank it for future use. The downside is they are impossible to sell.

Jan 31, 2020 04:16 AM
Rainmaker
1,876,366
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

My Mom had three time shares and loved the whole concept of "banking" her time. She purchased the least desirable weeks and then would bank them for great spots she wanted to visit. She always ended up with both. One of the ones banked was close to home over the Christmas weekend and it made a great family weekend get-away Fred Griffin Tallahassee Real Estate 

Jan 30, 2020 06:53 PM
Rainmaker
883,287
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

They are identical to those who prefer to rent when buying is an option.

PRO:The option to change your mind or resond to circumstance without loss  is always at hand.

CON: One  exits the situation with the same pocket lint in which they entered.

Jan 31, 2020 06:19 AM
Rainmaker
986,042
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

No Pros. All CON(s)

You don't really own anything.

The maintenance fee is perpetual 

Next to impossible for you to sell

Trading is an artform

 

Jan 31, 2020 08:07 AM
Rainmaker
2,635,087
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Having or taking the "time to share" slows down making one look at the continued usefulness of keeping or disposing of the share. Not easy to do

Jan 31, 2020 06:35 AM
Rainmaker
1,717,234
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

There is no pros. Everyone I know tries to get out within the first 2 years & just chocks it up to a bad mistake. I often wonder if they get these people to sign on the dotted line in a bar after 3 drinks.

Jan 31, 2020 05:40 AM
Rainmaker
956,941
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Timeshares are a bit like playing Blackjack where the dealer always wins. 

I have never owned one but, over the years, have had people contact me to ask if I could sell their timeshare. Since I don't handle them, I politely declined and shared some resources they could try.

I have had 2 out of state clients offer to give me their timeshares here on the beach free and clear, no strings attached. Of course, I did not accept but it's pretty bad when you can't even give them away.

There was a good discussion here a few weeks ago when a student asked a similar Q. One comment interested me because it stated that fractional ownership is a better way to go. I am not very familiar with that concept and went back to see who posted it to contact them for more info but the student who posted had deleted the Q. It might be worth investigating fractional ownership to see if that would be a viable alternative for your friend.

 

 

Jan 30, 2020 10:14 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Back in school Fred?

 

The only pro that I know is for the con-man who is selling them.

Jan 31, 2020 12:01 PM
Rainer
111,487
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

I would suggest you go to the Timeshare User Group website.  Those are people who actually use timeshare.  They will give you more useful information than "No pros."

Those people use timeshare.  They will tell you the good and bad of the different types of ownership.  They will tell you which companies are good or bad.

Jan 31, 2020 04:10 PM
Rainmaker
640,713
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

Pros are when you get rid of them. Con is they don't get used and fees continue to rise and you'r stuck paying forever or until the "pros" occur.

Jan 31, 2020 01:40 PM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am not an expert but will say I would not invest in timeshares.  

Jan 31, 2020 12:53 PM