Frequently
asked Questions About Timeshares & Leaseholds
The
following is general information associated with
time share and leasehold ownership. If you are uncertain
of anything or wish to know if something applies
to your property in Calabria, send us an e mail
here.
What
is a time-share?
Time-Share is a descriptive term for a type of ownership.
It is also known as interval ownership. Basically,
rather than buying the entire dwelling unit, you
simply purchase a "share" or part of that
unit. Your "share" is defined as a specific
period of time during which you may live in the
unit. The primary advantage of a time-share is affordability.
Time-shares were created during the 1960's when
property in popular destinations became prohibitively
expensive.
What
type of time-shares are available in Badolato?
Badolato's time shares are a Right-to-Use Agreement
which is a time limited lease agreement. You have
the right to use a property for 20 years. When the
lease ends, you have an automatic renewal option
for another 20 years. (most Right-to-Use Agreements
are 10 - 15 years making ownership in Badolato even
more advantageous.
Are
there any hidden costs?
In addition to the one time purchase price, the
only other cost is the yearly maintenance fee which
is applied depending on the number of weeks that
you choose to own. This fee is clearly stated on
each property and is used to upkeep the pristine
condition of each villa and apartment as well as
administrative fees. While most time shares raise
this cost annually, ours is adjusted every 4 years
based on cost of living.
How
will I know if it's a good deal?
Compare, compare, compare! Remember that Badolato
time shares are sold in one month blocks. (most
others are sold in 1 week blocks). Compare it to
other resorts and areas. Are the costs similar to
those at the other resorts? Are you getting what
you want out of the deal? Have you checked on the
price of a similar vacation without the timeshare
agreement? Have you spoken to some of the owners
at the resort you're interested in? If you've done
all your homework and you're satisfied with the
answers to all of these questions, then you'll be
sure that you've found a good deal.
Can
I trade my time or unit with other time-share owners
to get different dates or even different locations?
Yes, in most cases you can. This may be done informally,
through an agreement with another owner, or it may
be done through an agency that specializes in these
trades. There are lots of options! Since we are
currently offering new villas at a rate of about
1 per month, we will offer flexibility for the next
5 years regarding when you choose to vacation.
What
happens when I want to sell my unit?
First, contact us here.
We will publicize your unit and price to prospective
clients. There are also many agencies that specialize
in time-share resales throughout the world. We will
forward that information to you. There are probably
realtors in your area that already specialize in
time share resale.
Time
Share & Leasehold Terminology
Accrued Weeks: Timeshare weeks that
have accumulated from prior year or years, and
are available for use in the current calendar
year.
Bonus
Time: This allows you use of your timeshare
resort in addition to your regular allocated time
on a space available basis.
Closing
Costs: With Badolato timeshares and
leaseholds you do not incur these costs.
Deed:
A "fee simple" ownership interest providing
title to your timeshare.
Developer's
Price: This can be either the estimated
developer's current or market price, or the full
retail price of the timeshare.
Exchange:
Trading timeshare weeks at one resort for timeshare
weeks at another resort or trading a specific
week at one resort for a different week at the
same resort.
Fixed
Time: If you purchase a timeshare for
a fixed time, you are guaranteed that week each
and every year at your resort. Badolato times
shares offers one month for the price of one week.
Floating
Time/Flex Time: Timeshare ownership
can be purchased using a system whereby the owner
purchases a variable unit and or week during each
year of ownership, instead of a fixed week.
Floating-time or flex-time owners must obtain
their unit/week by calling the resort, and requesting
the week of their choice.
Maintenance
Fees: These fees are established and
collected to maintain the Timeshare Resort, pay
insurance, utilities, refurbishing, taxes, etc.
These fees vary from resort to resort and with
the type and size of the timeshare unit purchased.
Usufruct
(Right to Use): This type of timeshare ownership
gives you occupancy rights for a specified number
of years.
