Archives

Cooling-Off Period

Also known as rescission period, this is the amount of time given to a timeshare buyer in which they can cancel their purchase or rescind their contract to purchase. When going through the process of canceling the purchase of a…

Club Membership

This type of ownership has no underlying deed. This can make the transfer of ownership a lot easier, but some people prefer knowing they hold an actual deed for their vacation ownership. WorldMark by Wyndham uses a membership approach to…

Closing Costs

Closing costs are the costs for employing a closing company for holding escrow, performing title search, rewriting the deed, recording the deed and executing resort specific transfer documents. We always recommend using a Licensed, Bonded, and Insured closing company. Closing costs…

Check-In Time

Check-In Time is the earliest time of the day you can check-in for your reservation. Due to the fact that many units are turned over to a new owner the same day someone checks out, there is a time period…

Check-In Date

The Check-In Date of your reservation is simply the date that your reservation will begin. For many week based ownerships, each week number begins and ends on the same day, exactly 7 days apart. Common check-in dates are Friday, Saturday…

Campground Membership

A type of timeshare that caters to travelers who prefer campgrounds. A membership campground is a private campground and/or RV park open only to members. Members typically pay a one-time membership fee and annual dues (membership fees) for the right to use the campground. A membership…

Bonus Week

A bonus week can be given at a presentation or from a trading company trying to entice you to either buy a timeshare at a presentation or trade with a certain exchange company. When purchasing at a presentation, the agent…

Bonus Time

A feature of WorldMark by Wyndham timeshares that allows owners to pay a very low cash fees for short-term, short-notice stays. As a WorldMark owner, you can pay 4.8 cents per credit (minimum of $30) that you would normally use…

Biennial

A biennial timeshare can be used every other year, as opposed to the more popular every year timeshare. In this case, odd or even years are assigned to the ownership. Biennial timeshare ownerships are simply ownerships that allow usage every…

Combination

A timeshare combination is when an existing owner purchases another timeshare and combines it with their existing ownership. Some clubs offer lower maintenance fees when ownerships are combined together, further motivating owners to consolidate their timeshares into one account. Combination can only…