Because the timeshare market is swarming with gray areas and doubtful business practices, it is essential that potential timeshare buyers perform due diligence before purchasing. pigeon forge timeshare what is a timeshare?. The Federal Trade Commission (FTC) outlined some basic due diligence actions in its timeshare brokers "Timeshares and Getaway Plans" report that needs to be perused by any potential purchaser.
For those looking for a timeshare residential or commercial property as a trip choice rather than as a financial investment, it is quite likely that the best deals may be found in the secondary resale market rather than in the main market developed by trip home or resort developers.
Timeshares are based upon the concept of fractional ownership in a property. For instance, if you buy one week at a timeshare condominium each year, you own 1/52nd part of the system. If you acquire one month, you own 1/12th of the unit. Other buyers purchase the staying fractions. There are 2 general schemes: Deeded: You buy an ownership interest in the property.