In North Carolina, all deeded timeshare purchases are administered by the North Carolina Real Estate Commission. It is important to understand the distinction between deeded timeshare and right-to-use timeshare. A deeded timeshare means that you own the property outright, a 1/52 share, perpetually usable. Right-to-use timeshare (also known as undeeded timeshare) is a lease arrangement, and after a certain time period, the developer resumes ownership of the unit.
Owning a timeshare interval confers rights to use a particular unit for the same time increment annually, usually a week. Major resort companies like Marriott, Sunterra, Worldmark, Bluegreen, and Hilton now offer points systems. These offer some advantages over the older week-based system. Points can be redeemed for various lengths of stay, which means that you don't have to spend an entire week at a resort. It is possible to purchase more points to augment timeshare exchange opportunities, and often, especially in the case of RCI Points, points can be exchanged for vacation necessities such as airfare.
In North Carolina, as elsewhere, there is a wide range of properties from which to choose, with amenities ranging from sparse to lavish. Most timeshares are fully furnished, and annual maintenance fees apply. These fees go toward the upkeep of the resort grounds and facilities.
Resorts promote timeshare properties aggressively, offering free weekends and other inducements in exchange for attending timeshare presentations. While resort tours can be extremely helpful in determining whether or not a particular resort is right for you, remember that you have the option to buy resale units/weeks/points. It is quite possible to save a staggering amount of money simply by buying timeshare from an owner rather than a resort sales company. Resale buyers often 50%-70% off the original asking price. There is a lot of North Carolina timeshare currently available on the resale market. Additionally, a lot of owners rent their timeshares out if they are unable to take a yearly vacation. North Carolina timeshare rentals are typically much cheaper to rent from an owner than from a resort, as the owner is usually seeking to only recoup maintenance fees.
If you do choose to buy from a resort, keep in mind that the timeshare cooling-off period in North Carolina is five days. This means you only have five days to cancel your purchase, should you reconsider it! If you are stuck with a property you won't use, it is possible to donate timeshare to a worthy cause. Many charities can accept timeshare donations, though not all do.
We hope you found this timeshare information useful.