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The ONLY Licensed Timeshare
Company in the State of
Washington,
dealing exclusively in the secondary market.
WE GET OUR INVENTORY FROM
FORECLOSURES FOR FAILURE TO MAKE CONTRACT OR MAINTENANCE FEE PAYMENTS.
ALL OF OUR PROPERTIES ARE
PART OF THE RCI OR INTERVAL INTERNATIONAL
EXCHANGE SYSTEM GIVING YOU MORE THAN 5000 RESORTS WORLDWIDE!
WE SELL ONLY PROPERTIES THAT
ARE FREE AND CLEAR!
Marcus Talley
Director and president of Resort Properties, has been involved in the vacation industry
since 1985. In 1987, Marc transferred to Leisure Time Resorts where he was the sales
manager. In the early 1990s, he worked in sales for both Resorts West and Trendwest
Resorts. Starting in 1990, he took a position with Western Finance of Conroe , Texas as
their National Sales Manager. Since that time he has focused on selling timeshare
foreclosures on the secondary market.
Bill Stephan
Has lived in Bellevue for the past 45 years. A graduate of the University of Washington,
Bill spent the next 30 years in the entertainment and restaurant industry. He co-owned Pier
70 Restaurant and Chowder House, Saratoga Trunk, Papagayo's Cantina, and several other local
nightclubs & eateries. Bill entered the timeshare industry in 1995 and has worked for
Sunterra Pacific, Pahio Resorts and most recently with TrendWest Resorts. He has traveled
extensively visiting many of the timeshare resorts in the west, Hawaii and Mexico.
Exchanges and Resort Ratings
There are two major exchange companies out there; Resort
Condominiums International & Interval International. RCI has more resorts to exchange with,
II has, some say, a higher quality of resort overall. My opinion is there are six of one,
half a dozen of another.
The Exchange Companies have designated special awards or
ratings to signify excellence and have set-up rigorous qualifications for the resorts
to adhere to in order to receive those awarded ratings.
RCI has
designations of Gold Crown (the best, expect luxury) and Resort of International Distinction
(just a step below a gold crown) and Standard ( just what it sounds like, don't expect a ton
of amenities). If it is a standard resort, no designation is made in our descriptions.
Interval International has only one rating of excellence- 5 Star! These include the
Marriott and much of the Sunterra resorts. The rest of their resort affiliates are something
less than a 5 star so it is difficult to gage what to expect at many of their resorts.
Finding out the true quality is simple; Either join
www.tug2.net and enter the "Rankings and
Reviews" pages to see what other timeshare owners say about their recent visits to resorts,
or order a rankings and reviews booklet from www.timesharing-today.com and, again, see how
other timeshare owners rate resorts. You can also enter the message board at Timesharing
Today's website and ask if someone has been to that resort recently.
1, 2 & 3 Bedroom Deeded Properties / RCI
& II Exchanges Worldwide
North America /
Mexico
/
Hawaii
/
Europe
/
Asia
/
Africa
/
Australia
RED Weeks / WHITE Weeks / BLUE Weeks / RCI Weeks /
RCI Points
POINTS at Sunterra, Fairfield and WorldMark by Trendwest
Golf Courses / Beach Fronts
/ Ski Areas
For those viewers who are new to the world
of Interval Ownership, we offer the following Glossary of Timeshare Terms to help you
understand the variety of terms used in timesharing.
Find the Timeshare Term you
are looking for in the columns below and click on the link. Your browser will take
you to that term for a full definition. If you cannot find the term you are looking
for, please email us or call our toll free number. Our licensed agents stand ready
to help you to understand the timeshare concept.
Exchanges ● Terminology ●
Week
Chart ●
Most Asked
Questions
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Absolute: Used
primarily in auctions indicating the minimum amount necessary to purchase a property.
For example: If the absolute price shown on an auction property is $1,000 any bid of
$1,000.00 or more buys the property. See also "Reserve".
[ Return to Term Table ] |
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Amenities:
Features that add to the value of the property such as swimming pools, tennis courts,
golf courses, boating, full kitchens, laundry facilities, etc. The more amenities a
resort offers, the greater the increase in value and desirability of the property.
[ Return to Term Table
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Check-In Date:
The assigned date and day of week the interval week begins; usually Friday, Saturday, or
Sunday. The check-in day begins the seven-day interval week. [Example:
If the interval week begins on Friday, the week ends on the following Friday]. The
interval owner (or renter) need not check in on the specific check-in day; however, late
check-in does not extend the interval week beyond the scheduled check-out day. [ Return to Term Table ] |
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Check-In Time:
The assigned hour an interval week begins; usually 3:00 PM, 4:00 PM, or occasionally 5:00
PM prevailing time. The interval owner need not check in at the precise time;
however, late check in does not extend the interval week beyond the assigned check out
time. Check-out time is normally 10:00 AM or 11:00 AM prevailing time on the
seventh day following check-in. [Example: check-in on Saturday at 4:00 PM and check-out
on the following Saturday at 10:00 AM].
[ Return to Term Table ] |
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Closing Costs: Those costs associated
with the closing process; usually including: deed preparation or transfer of equity for
right-to-use properties, recording costs, escrow fee, and administrative fees.
[ Return to Term Table ] |
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Deeded Property:
True property ownership with deed recorded in the county where the property exists.
This type of property has the same rights of ownership accorded to it as other deeded
real estate. The owner may sell, rent, bequeath, or giveaway the property.
[ Return to Term Table ] |
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Escrow: A special secured account
used to hold funds from the buyer and the seller related to closing of purchase and/or
sale of a property.
[ Return to Term Table
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Exchange: The process of trading an interval week at one resort for
an interval week at another resort or trading a specific week at the home resort for
another week at the same resort. The exchange system allows an interval owner to
trade their week with other interval owners thereby allowing each owner to travel and
vacation throughout the world.
[ Return to Term Table ] |
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Exchange Company:
A company or organization that accepts interval weeks on deposit from it's interval
members to establish a pool of weeks from which other members may select the resort and
vacation times of their choice. When a member deposits their week with an exchange
company, the company compares the week the depositor is asking for with weeks deposited
by other members and provides a suitable match based on availability and value.
Factors affecting the "trading value" are: the
resorts' rating, the time division;
i.e., prime time versus low time, the size of the unit desired, etc. [ Return to Term Table ] |
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Fee Simple: The preferred type of real estate
ownership. This type of interval ownership is the opposite of
Right-to-Use or lease ownership and continues forever.
The owner holds a deed in his/her name and the ownership of the property can be
bequeathed to heirs. [ Return
to Term Table ] |
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Fixed Unit:
Unlike a floating unit, a interval owner who owns a fixed
unit at a resort will always vacation in the same physical unit each year he/she
vacations at that resort. This type of ownership is particularly important if you
have purchased, for example, an ocean-front property with the ocean at your door step and
are not willing to vacation in an ocean-view unit. A fixed unit property assures
the owner that he/she will always have the exact location and the exact unit they have
purchased. [ Return
to Term Table ] |
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Fixed Week:
Referring to the interval calendar, the purchase of a fixed week property assures the
owners that they will always have the same week each year; i.e., week 26.
Alternatively, an owner of a floating week may choose
another week within their time division or may elect to upgrade or downgrade to another
time division to meet their annual vacation schedule. Upgrading to a higher time
division usually incurs an additional cost.
[ Return to Term Table ] |
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Floating Unit: Unlike a
fixed unit, interval owners of a floating unit at a resort may
not vacation in the same physical unit each year they vacation at their home resort.
Interval owners may request a specific unit and, if available for that particular week,
the resort normally will honor the request.
[ Return to
Term Table ] |
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Floating Week:
The purchaser of a floating week has the flexibility of scheduling their vacation
interval with yearly variations in accordance with the resort's guidelines.
Typically, resorts will accept requests for specific weeks by the interval owner as soon
as the annual maintenance fees are paid. Therefore, the earlier the
maintenance fees are paid, the better the chance that the owner can pick a specific
interval week. [
Return to Term Table ] |
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Interval: An assigned
period of time. Based on the interval calendar wherein the fifty-two weeks of the
year are numbered sequentially: Week 01 through Week 52 or Week 53. A specific
interval week is a seven day period encompassing one of those fifty-two weeks.
[ Return to Term Table
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Interval Calendar:
An annual
calendar depicting the fifty-two or fifty-three weeks of each calendar year showing
starting days of Friday to Friday, Saturday to Saturday, and Sunday to Sunday, check in
dates. CENTURY 21 TRI-Timeshare has furnished an interval calendar within this
website which can be printed from your browser. Click here to access:
Interval Calendar.
[ Return to Term Table ] |
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Lease: Some states
and some foreign countries do not allow deeded ownership of timeshares.
Alternatively, a lease ownership or Right-To-Use ownership grants the leasor the right to
use the property for a specified period of time; usually from 20 to 99 years.
Ownership of the physical property is held by the resort developer or management company.
[ Return to Term Table ] |
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Lockout Unit:
Typically, a unit which has the capability of being divided to create two separate but
complete sections. If an owner buys a lockout unit, he can divide the unit and
either stay in one half of the unit and rent the other half or rent both halves to
different parties. [
Return to Term Table ] |
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Maintenance Fee:
A fee paid annually to cover the costs of maintaining the grounds, units, and facilities
of the resort and the management thereof. These fees vary from resort to resort and
with the type and size of the unit purchased.
[ Return to Term Table ] |
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Maximum Occupancy:
The maximum number of persons an interval unit will accommodate; usually from 2 to 10
persons. Maximum occupancy is typically expressed in conjunction with "private occupancy" referring to the number of persons the
unit will sleep privately and the number of bedrooms within the unit. For example:
a 2 bedroom unit with a sleeping capacity of 4 persons and a maximum occupancy of 6
persons would typically have a double bed in each of the two bedrooms and a pull-out sofa
in the living area; thereby allowing four persons private sleeping arrangements and two
persons less than private sleeping arrangements. Configurations of units vary from
resort to resort. [
Return to Term Table ] |
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Odd or Even Year
Usage: Use of the
property is restricted to either odd years (2001) or even years (2002). Obviously,
the ownership of this type of interval is valued at one-half the value of a full
ownership property since the use is restricted to one-half of the annual usage.
[ Return to Term Table ] |
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Points: Programs offered to interval owners by
resorts which allow the owners choice and control over when and where they vacation or
for how long or short they stay. Points are a symbolic unit of measure having
no intrinsic value separate and apart from interval ownership
Points Based Programs Currently available in
timeshare include:
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Private Occupancy:
See "maximum occupancy". [ Return to Term Table ] |
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Resort Ratings: A system of comparison
of resort quality, amenities, and location. The three foremost rating systems are
Resort Condominiums International (RCI), Interval International (II) and Timeshare Users
Group (TUG).
RCI and II rate their affiliated resorts based upon a
predetermined criteria of exacting standards of quality and services provided by the
resort as well as the availability of amenities at or near the resort. RCI uses the
Gold Crown designation for their highest quality resorts and Resorts of International
Distinction for second-level resorts. II designates their top resorts as
5-Star resorts.
TUG or Timeshare Users Group rates resorts on a
scale of one to ten based upon the evaluations of TUG members who have stayed at a
specific resort. CENTURY 21 TRI-Timeshares encourages any new timeshare owner
to join this outstanding organization which offers unbiased reporting on resorts as well
as online resort information, helpful bulletin boards, and lively chat rooms for
discussions of the timesharing concept. Membership fees are a nominal $15.00 for
the first year and $10.00 per year thereafter. Non-members may visit the public
access areas of TUG at: http://www.tug2.net/ to
evaluate this worthwhile organization.
[ Return to Term Table ] |
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Reserve Price:
Used primarily in auctions indicating the asking price requested by the seller. In
the event the highest bid received does not meet or exceed the reserve price, the offer
is conveyed to the seller for acceptance, decline, or negotiation.
[ Return to Term Table ] |
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Right To Use
(RTU): Some states and some foreign countries do not allow deeded ownership of
timeshares. Alternatively, a lease ownership or Right-To-Use ownership grants
the leasor the right to use the property for a specified period of time; usually from 20
to 99 years. Ownership of the physical property is held by the resort
developer or management company. However, during the right-to-use period, the owner
may rent, transfer, or bequeath the remaining years of their right-to-use property. [ Return to Term Table ] |
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Special Assessment: A fee over and above
the annual maintenance fee assessed by the resort pro rata to interval owners. This
fee is, when assessed, is intended to defray expenses related to major repairs and
refurbishing of resort equipment, facilities, and units. [ Return to Term Table ] |
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Time Division: A system of establishing the
value of an interval week typically based upon season. For example: a week 3
(Mid January) purchased at a New England beach resort would not hold the same value as a
mid-summer week at the same resort due to the fact that the season in January is not
condusive to vacationing on the beach. Time divisions are expressed as high
time or red time meaning prime time, white time or medium
time meaning medium desirability, or blue time or low time meaning the
least desirable time.
Some resorts such as Hawaian resorts consider all weeks
as prime time since their tropical climate permits pleasant vacations throughout the
calander year. Additionally, many resorts offer year-round activities, often
referred to as four season resorts, in which the owner may participate in a variety of
seasonal activities.
Other factors which affect the interval week's
desirabilty would be holidays and special local events.
[ Return to
Term Table ] |
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Trading Power:
The assesed value of an interval week when trading or exchanging for another week within
the same resort or at a different resort. In some situations, the owner of a red
week at an RCI Gold Crown resort can trade that week for two or more weeks at a resort
of lessor distinction or for weeks in a lower time division. Supply and demand
rules prevail in this type of exchange and the owners can greatly enhance their trading
power with high demand weeks and resorts. [ Return to Term Table ] |
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Unit Size:
Normally expressed as hotel unit, studio unit, efficiency unit or by number of bedrooms.
Hotel units, studio units, and efficiency units typically are a single room with
sleeping accomodations and perhaps a small built in kitchen and sleep from two to four
persons. One, two, or three or more bedroom units are usually condominium style
accomodations and feature a partial or full kitchen and other living areas. [ Return to Term Table ] |
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Unit Sleeps:
See "Maximum Occupancy".
[ Return to Term Table
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Exchanges ● Terminology ● Week Chart
Most Asked Questions
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