Page 12 - Time Share News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Of people had beach front homes and condominiums in the mountains and they would use them a few weeks a year. and then they would pay the maintenance and taxes for the whole year. time-share is like an airline ticket. you don't buy the whole plane. you buy a seat. you can go anywhere in the world at any time and stay as long as you want or the least amount of time you want. and when you leave, you let someone else worry about it. >> what do you envision in the future for this hotel? >> we are not going to have the wealthy people staying here, although they are more than welcome. we are not goi...

Understand it. make sure you understand the t of the contract. it is a long-term commitment. make sure you understand what costs are involved, maintenance fees, things of that nature. also, ask if there is an owner's club or some type of an association almost like a homeowner's association. because what it does, it lends credibility and protects you as time-share owner. by the way, don't get hustled by a slick salesperson. i mean no disrespect because when you are buying this make sure they explain to you exactly what you are buying and explain to you all the costs, make sure there is no hidde...

Do with it? he says i'm going time-share it. i said what's that. he explain the concept to me. i fell in love with the concept. i didn't sell the property and i decided to do it myself. >> did you know what a time-share was at that time. >> no, sir no. i built 16 villas in the back of the orange grove. >> those 16 villas turned into the largest time-share company in the world. two decades later his time-share empire was still standing n. 2004, david and his wife jackie decided to take on another project, building themselves the largest home in america: most people would say why? why? >> why bu...

People who walked away from their home or more importantly filed bankruptcy and discharged the debt but they never realized the home was never transferred out of their name. that's the big issue in america today. the lenders are starting to move on that now because they recognize people can't rebuild their own dreams and get new homes and at the same time they can't sell the home. it also talks about like i interviewed david siegel who basically is the largest time share owner in the world. he bought the las vegas hilton. i give tips to people if you're going to buy a time share, buy a home se...

Out for. one of the things is watch the ha sell. sometimes -- no disrespect to the men and women who share time share, they put herds of people into a room and they just hammer them for hours. and by the end, they put this contract in front of them and they're signing it and saying what did i just sign here? that's why, steve, in most states there's a cooling off period where you could sign it but you have to right to resnd because of the high pressure sales. there is closing costs, what kind of assessments, what kind of taxes are you paying, what kind of association fees are there. you have t...