TIMESHARE RESALES FREQUENTLY ASKED QUESTIONS
Q: What are the costs to purchase the unit week?
A: The purchase price is as noted on the sales list. Closing costs for the purchase are approx. $350-$375 (if more than 1 week is purchased at same time and same purchaser info, the closing cost is charged only once). Annual Maintenance Fees are also due at time of closing, if use is still available for the current year after closing.
Q: What are the annual maintenance fees?
A: For 2016, the annual maintenance fees are $525.94 for the Efficiency and 1 bed/1 bath units, or $620.05 for the 1 bed/2 bath units. Maintenance Fees are set by the Board of Directors at the Annual Meeting in November. Invoices are sent out in December and are due by February 1 of each year. Maintenance Fees cover the costs of all operations of the resort, including personnel and management, housekeeping, maintenance, insurance, taxes, and reserve expenses for repairs and improvements.
Q: What is the difference between “Fixed” weeks and “Float” weeks?
A: Fixed weeks are the same unit and same week of use every year (example: if you purchase unit 209 for week 27, you will have that unit and week every year); Float weeks are flexible weeks and can be reserved no more than 270 days from the first day of the period to be reserved, and no less than 10 days from first day of the period to be reserved.
Q: What other options do I have if I do not want to use my week for any
A: You can place your unit week up for rent in the rental pool (rental fees are subject to commission from management company); you can exchange your week through several available exchange companies, such as RCI, II, or VRI*ety (internal exchange program offered by VRI, our mgmt. company. With RCI (www.RCI.com), or II (www.intervalworld.com) , you must also be a member with their company to exchange time at any of their affiliated resorts and must pay an exchange transaction fee. With VRI*ety, as an owner at a VRI managed resort, you can exchange at another VRI resort with only a small exchange transaction fee – no annual membership required (www.VRIetyexchange.com for more info). You can also let family or friends use your week (or portions of week), but you must notify the resort in writing, in advance, of who will be checking in.
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