Saturday, February 12, 2011

Lesson Learned

I believe that things happen for a reason .

I started out in the timeshare business out of necessity in late 1998. I was naive as one can be in the the business...heck, I didn't even realize that all the "resorts" in the Central Florida area where I had recently moved to were indeed, timeshares.

I learned. I learned good and bad, pros and cons, truths and myths. And I had some valuable assistance along the way. And I learned some lessons...boy did I learn some lessons.

I'll share my recent lessons with you all here today. There are two more important questions to ask if and when you are considering purchasing any timeshare...from the developer or on the resale market:

* is the resort under developer guarantee?
* is the resort under developer control?

If the resort is NOT under developer guarantee, the owners will have to make up any budget shortfall. This can be a HUGE financial burden and the cause of many bad surprises.

If the resort IS under developer control, I'd seriously consider another purchase. While I am sure that the vast majority of developers are straightforward, honest, ethical people, there are some that aren't. Some that will appoint their sometimes useless cronies on the Homeowners Association board. Some, that no matter how badly the resort has been mismanaged over the years, legally owe nothing and no explanation to the hapless owners.

Sad, sad cases exist out there. Something has to be done. If the timeshare house is not put into better shape very soon, there might not be a timeshare house around. And that would be sad indeed because, as I've said before, timeshare is a wonderful thing.

Educate Yourself, Open Your Mind, Get Involved, and let's clean house.

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