Frequently Asked Questions

Here is a list of some of the basic frequently asked questions regarding vacation ownership. This information is especially handy to the first time buyer. If you need further assistance in answering your questions contact us or call 1.800.301.9238.

• Do I have to have an appraisal to sell my property?

No! Condo Resort Link does not require an appraisal of your property prior to sale. Many state laws prohibit the appraisal of a timeshare. Also, there are no broker fees or commissions.

• Can I use my timeshare and advertise for sale at the same time?

You can continue to use your timeshare as long as you haven’t accepted an offer. You may also decide to keep it open for potential buyers.

• Do I need an attorney or real estate broker for the closing of my timeshare?

Legal counsel or a broker is not required because Condo Resort Link only works with licensed and bonded title companies. The title company handles the closing process from start to finish and they guarantee a free and clear title.

• Should I let my resort sell my timeshare?

Most resorts do not have a resale department. The ones who do have a resale department typically charge a large percentage of the sale. Condo Resort Link offers you a one-stop-shop so you can get the desired price for your timeshare.

• What are points?

You can purchase a specific number of points or credits, which enables you to travel in specific seasons of the year and to various sized units.

• What are maintenance charge/fees?

Maintenance fees are established and collected by the Home Owners Association or Resort Management Company to maintain the property, pay insurance, utilities, refurbishing and taxes. This way the cost of resort operation is spread among all owners.

• What is red, white, or blue time?

These colors categorize the weeks in a year into desired times for the calculation of trading power in exchanges. Each resort may have different seasons depending on the location etc. Red is the most popular time followed by white and blue.

• What is Gold Crown resort?

A Gold Crown Resort is the top rating given to a resort in the RCI system.

• Who are interval international (II) & Resort Condominium International (RCI)?

RCI is the largest exchange organization in the world, owned by Cendant Corp. II is the second largest exchange company in the world. They are responsible for 98% of all exchanges.

• What is exchanging?

The act of exchanging vacation time with other owners either of the same or different property for a one-time use.

• What is a leased property?

Certain States and Foreign Countries do not allow deeded ownership of timeshares. Alternatively, a lease ownership or Right-To-Use ownership grants the leaser the right to use the property for a specified period of time, usually from 20 to 99 years. The resort developer or Management Company holds ownership of the physical property. For example, all properties in Mexico are leased properties.

• What is a deeded property?

A deeded timeshare has a legal document providing title to your property, which gives you lifelong ownership rights, and has the capability of being willed.

• What is a banked week?

A banked week is a timeshare week deposited with the resort for later use. Most weeks have an expiration of two years from the time it was banked and can be rented.

• What is a lockout of lock-off unit?

This is a unit which has the capability of being divided into two separate but complete sections with an entrance for each division. For example, a 2/2 unit can be split into two 1/1 units. This allows the owner to possibly rent one unit and use the other or have two weeks of vacation time in a smaller unit.

• What is a fixed Week?

Referring to the interval calendar, the purchase of a fixed week assures the owners they will always have the same week each year.

• What is a float Week?

Also called "flex" time, the purchaser of a floating week has the flexibility of scheduling their vacation almost anytime of the year based upon availability. Flex time does differ from resort to resort.

• What is a Timeshare?

A right, shared with others, to occupy a unit of accommodation for a period of time (usually a week) on a regular basis for a number of years.

• What are annual and bi-annual timeshares?

An annual timeshare is used every year and a bi-annual used every other year. For owners who have a bi-annual timeshare, they either go on even or odd years.