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Timeshare Resale Terms and DefinitionsIt is important to know what to look for when choosing a timeshare resale. Here are some important terms to remember:Time Division: When searching for a timeshare resale, the description may refer to high - meaning best time, medium - describing medium desirability, and low - meaning least wanted time to visit the timeshare. Time division refers to the desirability of an interval week depending upon season of the year. For example, the middle of August may not be the most desirable time to visit Florida, just as January may not be a prime time to visit the New Jersey shore. Other states or countries may consider all year too be a "high" time due to pleasurable conditions year-round. Holiday and special events may also make a particular timeshare resale more valuable at certain times. So as a timeshare buyer, expect to pay more or less for a timeshare resale depending on time division. Fixed Unit Vs. Floating Unit: A fixed unit means that you will know what unit number you are acquiring in a timeshare resale. A floating unit does not guarantee a particular unit. You can put in your request for particular units in advance but it is based upon availability. Fixed Week Vs. Floating Week A fixed week means you will acquire a timeshare with the same week available each year. The weeks are broken up according to the interval calendar. For example, if you purchase week number 26, you will have week number 26 each year when you purchase a fixed week timeshare. A floating week allows a timeshare owner to select their vacation week from varying weeks each year. The owner may select weeks, usually after maintenance fees are paid. Each resort location may have different guidelines so it is best to ask in advance regarding resort or management company rules regarding floating weeks. For timeshare resales, if you need a particular week only, shop for fixed weeks. If you have flexibility with your timeshare week, then opt for a floating week for it may be less expensive. Maintenance Fee To maintain your timeshare resale, a maintenance fee is paid annually to a management company or resort owner and is used to maintain the property and the amenities that are included with that property. The fees vary due to many different factors, including resort, type and size of unit, and more. |
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