The exchange and resale of a Welk Timeshare property are important to the process. Timeshare contracts often contain an opportunity to exchange the property. But this type of transaction is very difficult, if not impossible, for the following reasons:
- There is little turnover
- The professional will often propose an exchange only and does so in his or her own network, which limits the possibilities
- The contract imposes few commitments on the timeshare holder
The resale of a timeshare property
Enjoying a timeshare property is determined by those who own timeshares. But people who do own them can pass it down to their heirs, donate it, or sell it. They also have the right to lease it, during the periods when it is yours to stay in. The resale of a timeshare property is tricky, as supply is larger than demand and many constraints are involved, including occupancy dates.
The main advantages of owning a timeshare:
- Attractive prices
- An attractive investment, if rented during periods of high tourist seasons
- An opportunity to go on holiday abroad (if the property is abroad)
- Involves a minimal investment
Owning a timeshare has many disadvantages as well:
- Rental charges could raise the price of the timeshare, especially if it is considered a luxury residence
- It is difficult to resell
- There is an absence of surplus-value
- There is no tax exemption
Pitfalls to avoid
Timeshares have a bad image, especially because of questionable business methods. However, there are ways to make a timeshare one of the best decisions you have ever made. Here are a few tips before you consider purchasing a timeshare property.
- Read the co-ownership rules (use of the building)
- Pay attention to the use of public facilities
- Carefully consider the balance sheet of the previous year
Difficulties related to purchases abroad
If you sign a contract in the US, then know that US law applies. If you own a timeshare in Spain, Spanish law applies, and so on. Unscrupulous companies try to benefit from the fact that reselling a timeshare is difficult, so they may add hidden fees into the contract. This is why it is very important to read the contract a few times and have a lawyer do so as well. Good to know: to sell a property in timeshares, owners must pay all expenses.