Verifying Timeshare Ownership
Written by: Traver
When looking for timeshare rentals and timeshare resales on the Internet many people find themselves asking the question, how can I verify the person I am in contact with really has the unit they are advertising? It is totally understandable the person looking to rent a timeshare would ask this question as they are considering renting from a complete stranger. This post will outline some of the steps that can be taken by renters and buyers to ensure they are going to receive the timeshare they have paid for.
The easiest way to verify ownership of a timeshare is to contact the resort directly, most of the time owners are willing to divulge enough information for the interested party to contact the resort and verify ownership. Since each resort has a different privacy policy this may or may not be an option as some resorts may not be able to legally disclose any ownership information. Some resorts require you to call their reservations office for verification while others would rather have you contact the sales office, as long as you find a working number for the resort someone can point you in the right direction when you explain the situation. Once the renter and owner agree upon an amount for the rental the owner can then contact the resort to place a reservation in the renter’s name. It normally takes about one week for the owner to receive the confirmation from their resort. Since the renter will be a guest, most likely visiting the resort for the first time, there should be in depth instructions regarding check in and the number that a renter can use to verify their reservation. Once again resorts will vary in this area; some will issue a unique reservation number that renters will need use confirm their reservation while others will simply use the occupants name and other personal information to verify identity. It is always a good idea for renters to pay only a portion of the total timeshare rental amount upfront until the resort can verify the reservation is in their name. We also recommend that both parties sign a rental agreement contract outlining all terms of the rental such as, usage dates, resort name, price, number of bedrooms and bathrooms, cancellation policy and so on. When purchasing a timeshare you can use the same methods to verify ownership with the resort, however it is always a good idea to use a certified timeshare closing agency when purchasing a timeshare, the one that we recommend is Timeshare Title. The closing agency adds an added level of protection for the buyer and seller, the agency will verify the ownership with the resort and confirm all information given by the buyer is correct and accurate before any money is exchanged. If it is found that the person trying to sell a timeshare is not an actual owner all funds for the purchase of the timeshare will be returned to the buyer, this is possible because the funds used for the transaction are held in escrow by the closing agency until the transfer process is complete.
We would like to hear from any renters or buyers who have gone through this process and the methods they used to verify ownership. Also if you are a timeshare owner what are some of the methods you use to give renters peace of mind when they rent a timeshare that you own.
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Posted: May 29th, 2009 under Timeshare Rental, Timeshare Resale.
Tags: timeshare purchase, verify timeshare
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