Hi all. I am considering buying a timeshare from one of my family member who is in dire straits. What are the things that I should look into before buying from him? Thanks for your suggestions.
I would never buy a timeshare from any family members. Moreover, you should never purchase a timeshare just because you want to help out someone. You should always shop around for a timeshare that perfectly fits your particular needs.
Submitted by vacationguy on Thu, 2007-10-11 14:18.
Family member or not, make sure you do everything that you would do when buying timeshare from a stranger. Make sure there is no leftover in the maintenance fee or any other fee associated with the timeshare. Ask your relative/friend to prepare a proper sales deed stating all the details clearly. All these things become more important because, with a family member you need to take extra precautions. This is so because sometimes a hurriedly done deal can leave a bad feeling. Doing it correctly is the key here.
I would never buy a timeshare from any family members. Moreover, you should never purchase a timeshare just because you want to help out someone. You should always shop around for a timeshare that perfectly fits your particular needs.
Family member or not, make sure you do everything that you would do when buying timeshare from a stranger. Make sure there is no leftover in the maintenance fee or any other fee associated with the timeshare. Ask your relative/friend to prepare a proper sales deed stating all the details clearly. All these things become more important because, with a family member you need to take extra precautions. This is so because sometimes a hurriedly done deal can leave a bad feeling. Doing it correctly is the key here.