Seven Tips For Success : Buying a Timeshare Resale

By John McIver

Most people know that when buying a timeshare, great care should be taken. However, even more care and research should be used when buying a timeshare resale. Timeshare resales cost much less than buying directly from a resort developer, but you should still keep your best interests at heart. Being informed about your timeshare will lead to a positive experience.

1. It is a very good idea to actually see the timeshare you are buying. Some timeshare resellers may “talk up” their timeshare. If the reseller says that the timeshare is in a beautiful place, be sure to check it out. A timeshare, even a resold timeshare, is a great investment. It is important to make sure that you are buying what you want.

2. Timeshare resales often have very appealing prices. Sometimes, these prices can cause the buyer to overlook crucial questions. Be sure to ask about maintenance fees and property taxes. If these have not been paid up-to-date, then the timeshare will cost significantly more than the base price. It is very important to know the whole cost before you decide to buy a timeshare.

3. Some timeshares are affiliated with an exchange company. If the timeshare you are purchasing is affiliated with an exchange company, make sure to find out if this membership can be transferred. Doing this can help you to avoid unnecessary hassles in the future. If the timeshare you are purchasing is a point-system timeshare, find out if the points are transferable. Finally, if there are any additional bonuses with the timeshare, find out if they can be transferred.

4. The seller often pays to advertise the timeshare, while the buyer is stuck with the closing costs. Be informed and find out all of the charges that you will be responsible for upon the closing of the sale. This is important because some buyers do not know how much they are paying when they decide to buy the timeshare.

5. Visiting the timeshare can solve this problem, but it is important to be aware of it. Timeshares can sometimes be located in a facility that has only been partially remodeled. Other timeshares have not been touched at all. Paying an extremely high price for an old, worn-out timeshare is never a good idea.

6. Timeshares have different times that they can be used. Knowing when you can use your timeshare is very important. Some timeshares are odd-or even-year-use timeshares. If you buy one of these timeshares, it may be another year or two before you can actually use the timeshare you purchased. If there is a lease on the property, make sure to find out how much time is left on the lease.

7. Last, but certainly not least, find out why the timeshare is being sold. Too many buyers simply overlook this crucial information. Some resellers don’t want it anymore, but other resellers may have discovered a problem with the timeshare, or an inconvenience. It is important to know these issues so you can decide whether or not you yourself want to deal with them. If the reseller tells you the negative aspects concerning the timeshare, and you are still fully confident in its success, then it will be a good investment.

Timeshare resales can be complicated business. It is important to be as informed as possible when purchasing a timeshare because it is often a very large investment. The more investigating you do, the more informed you will be. Being informed is the best way to ensure that you have a positive timeshare resale experience.


About the author:
John McIver enjoys writing about timeshares and timeshare resales. Learn more at http://www.sellmytimesharenow.com. Read More..

The 10 worst mistakes you can make when selling your privately owned small business

By The 10 worst mistakes you can make when selling yo

Thinking about selling your business? You are not alone. CNN Money reports that 35 million baby boomers are expected to retire between 2000 and 2020. If you are approaching retirement or soon will be, chances are you’ve considered putting your business on the market for one of the following reasons:

• You feel burned out;

• Industry conditions have changed;

• You are facing health issues;

• Your business has matured and plateaued;

• Your business is doing well;

• It’s a good market for the sale of a business.

In the end, no matter what your scenario or reason for selling, your objective is to get the most money for your blood, sweat, and tears. Here are ten mistakes not to make when selling your privately owned small business:

1. Not Knowing Your Business’s True Market Value:
Different buyers will have different perceptions of value and some will pay far more than others. Unless you know your business’s range of value you are handicapped in the process. Knowing value is always the best starting point when you plan to sell your business.

2. Having Customers, Employees and Others Know that you are Planning on Selling:
Keeping the entire process completely confidential is essential, otherwise you create the risk of losing employees, customers, and vendors. This will negatively impact both value and marketability.

3. Stating an Asking Price:
Putting a price on a business creates a ceiling. If you are able to find that “value added” buyer who will pay a premium for your business, a stated price may result in a lot of money left on the table.

4. Providing Seller Financing:
There are a number of lenders who will finance buyers wishing to purchase privately owned businesses. Your objective should be to get “cashed out”. If you do provide any financing, it should be a small percentage of the sales price.

5. Allowing the Buyer to Control the Process:
If you allow interested buyers to dictate “what” and “when”, you will find that you end up going through lots of processes (such as due diligence) numerous times rather than only once, which should be done solely with your prevailing buyer.

6. Not Having Multiple Buyers Involved in the Process:
There is an old saying in the mergers and acquisitions industry: “one buyer is no buyer.” This simply means that with three or four buyers competing for your business you are more likely to end up with the best possible transaction regarding price, tax
structuring, getting cashed out, and having a low litigation risk profile.

7. Not Understanding Essential Tax Issues:
After tax dollars in the sale of a corporation can vary between 45% and 85% of the sales price based solely upon tax structuring issues. This means that you need to understand the process before you start the process.

8. Neglecting Your Business While Trying to Sell the Business:
Psychologically, once you decide to sell your business there is an inclination to slow down or spend time on the selling process to the detriment of the business. If you do this, earnings will suffer and it will lower your business’s value, negatively influencing
marketability.

9. Handling the Process Without Professional Help:
If you are struggling with the decision to hire a professional to help sell your business, consider these gruesome war stories about people who
have traveled this path alone and ended up:
• Paying more in taxes than they might otherwise have had to;

• Sold far below their true range of value;

• Financed the buyers and ended up not getting paid;

•Spent time and money during the process and still did not get
their businesses sold;

•Ended up with poor legal documentation resulting in legal problems.
Typically, the sale of a privately owned business involves a large
percentage of the seller’s net worth. Don’t begin your learning
curve at ground zero.

10. Paying Front End Fees to Merger and Acquisition Firms or Brokers:
If you elect to get professional assistance you are advised not to pay brokers and others front end fees other than the necessary fees to close the transaction. Many firms in recent years have collected substantial sums of money from clients without ever
selling their business. Ultimately, how you sell your business is just as important as how you run it. Do your research and carefully consider engaging the services of an experienced, proven professional with a stellar reputation.


About the author:
Barry Evans writes about san diego merger and acquisition firm. Learn more at http://www.acquisitionservicesgroup.com. Read More..