I found these two royal units (2bd/2bth) for sale for only $1!!
Im curious as to whats the catch? I hear so many good things about The Royal Resorts here on TA, what am I missing?
Do you pay maintenance by the month or the year on those things? And do you only get to go for that one week mentioned....
If thats the case spending many thousands (or this case $1) up front, then every month/year and then your airfare on top, i dont get it???
Lucky when we got asked if we wanted to do the timeshare pitch at our hotel saying we are from the UK and package holidays are cheaper than flights it sends them away pretty quick
You do NOT pay maintenance by the month. There is an annual maintenance fee (around $990 per week that you own the contract for).
Look at which weeks they are selling. These are not timeshares but interval ownership. You are purchasing a contract for a specific length of time and for a specific villa in a specific week. Sometimes they are great deals when people can't afford the maintenance due to personal issues and they work out for you.
These are all 2 bedroom, 2 bath villas with living room, dining room, large veranda, full kitchen. Sleeps 6 adults. Look at http://www.royalresorts.com website for more details.
While you can exchange your villa in the exchange pool, there aren't always exchanges available for when you want to go so it's not as easy as it seems. Be sure the week offered is one that works for you. Also, make sure it's not just right to use but that you also are getting the end of contract residual or percentage of sales. Many times people who can't travel for one reason or another sell the right to use (the Caribbean has 7 years left or so and the Islander has 10 or so years left) and they maintain the end of contract residual from the sale of the property. They are then getting out of their week and paying the maintenance fee (don't have to rent it etc) and yet keeping the goodies at the end.
Cheryl
CherylP- what are the "goodies at the end"?? Both of them claim that "you will get back more than you paid in the end"...
Edited: 12 years agoYou need to get the contract (they'll send it to you to look at) and find out specifically. Some contracts have specific residuals attached to them (dollar amounts guaranteed plus a percentage of the sale of the resort), others have other configurations. The Royal Mayan will be sold in 2 years and I'm waiting to see how that works out. The Royal Cancun just sold a few years ago and turned over. Contract owners were offered to purchase 25 year contracts at 1/2 the cost of the new week as one of their perks.
Cheryl
it's a sham. I talked to the guy on the phone. He's not really selling them for $1 it's just to generate phone calls to him so that he can try and talk you into buying one for $4500. That was what he considered a "fair offer"
Me dad always said if it seams too good to be true it usually is lol
All timeshare are a sham, that is why they sell for pennies on dollar on secondary markets.
interval or timeshares are not liquid and if one wants out of their obligation they must give it away for free or near free. So it is quite common to see these available for $1 as it is an extremely difficult sale. also they require Saturday only travel and airfares are typically higher on Saturday and often 50% to 100% higher.
Plus $990 annual maintenance fee on 1 week a year is sky high, You can rent these weeks for the same $990 or less, as their are lots of desperate lessee’s selling their leased weeks
Timeshares work for many people very well as do interval ownership. Steve's points are all valid. It should be a personal decision and be what works for your family. The most important thing you did, though, was your homework to find out what was involved.
While Steve is right, you can rent many weeks for under the maintenance fees, it really does depend on when you want to go. High weeks cost as do villas in nicer locations. So, if you have any preferences, you'll pay for it.
Cheryl
If you are going to do a timeshare look at buying something in Orlando area in a decent resort 2 bedroom unit for $1, as maintenance fees are much lower under $600 and you can easily trade it and get usage of one of the Royals every year in a 2 bedroom unit. Orlando has good trading power and it is actually deeded to you for life, in Cancun they are not and you have a 30 year right of usage
Keep in mind you will need to put a request in 6 months to 1 year in advance, sometimes less. So these are not for everyone but it can work. but then you need to add exchange fees aprox $150 per year and interval or RCI membership fees another $75 a year.