The "lock-out" feature allows a large timeshare unit to be split into smaller sized units in order to use the the property in a variety of ways.
For example, a 2 bedroom lock-out can be use as either a 2 bedroom or two, 1 bedroom units. Also, when exchanging a lock-out with an exchange company like RCI or Interval, the exchange company will often give 2 weeks exchange for your one week lock-out unit
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With our lockout unit we are able to stay for 2 consecutive weeks if we only use half of the timeshare. We own a 2 bedroom, so we get an extra week of vacation if we only use 1 bedroom. We really like the flexibility and both sides of our timeshare have a full kitchen.
True, And the best part of owning a L.O. unit is its ability to cover its own costs by renting one side of the unit to cover the cost involved in with ownership of your unit.
If I buy a two bedroom lockout and use half, can I bank the other half? Or will my exchange company not allow that. Must I either use the second half or rent it out instead of losing it.
Shunsneeker... ..Sorry I just had a 2 martini lunch...anyway you can bank your unused half of your lockout, rent it out or stay for two consective weeks if you use half of the time share unit. The versatility of a time share lockout makes it easier to use and give you a better vacation value with all the potential options.
What about the personal side of lockouts? Do people find it is a little "too close for comfort" sometimes? It sounds like having a neighbor that is practically in your living room, I'm not sure I'd want that when I'm looking for privacy on vacation! Especially if they have annoying kids, watch loud tv, or have loud sex, parties, etc...
Has anyone else here stayed in a lockout while the other half was occupied? Any colorful stories, or would you just say it was fine?
Its just a door that locks from both sides of the timeshare unit and has its own kitchen, bathroom and entrance. Its nice to have if you need seperate living spaces for two families.
Really confused about the No Closing Cost options...
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Originally Posted by TAI_Staff
Correct.
There are NO ther fee's or hidden costs.
When a PLATINUM listed property is sold through Timeshare Adventures, the buyer pays only the purchase price for the property and the seller receives exactly that amount. There are no other fee's whatsoever, to either seller or buyer and the closing is professionally performed by our attorney.
I'm trying to figure this out...I know the original answer was given a long time ago but on the website it says
"does not include paying recording fees, resort transfer fees, taking curative action to clear title, a title search or title insurance, courier fees, or other third party charges or fees. The attorney charges an administrative fee of $25.00. In order to qualify for this option, a seller must be able to produce a legible (scanable) copy of a recorded deed showing title in his name. Otherwise, the attorney will attempt to obtain a copy for a fee of $100.00 plus the attorney's out of pocket costs (usually less than $25.00)."
So which is it? The buyer writes a check for the asking price and the seller gets a check for that same amount but the seller has to pay out of pocket for these other fees??
optional waiver of the resort’s first right of refusal,
attorney supervised preparation of contract (if needed), deed or other transfer, closing statement,
obtaining and analyzing an estoppel (account status) report from the resort,
recording or properly filing the instrument(s) of transfer (usually a deed),
releasing escrowed funds to seller, resort, mortgage holder, et cetera.
So, the items you've quoted that are not included are things that, depending on the timeshare resort/developer, county/state/area, and the needs and/or request of the buyer, may or may not be required. The costs associated with these things, if required and/or opted for vary greatly and could be paid by either buyer or seller or split between the two.
So, with our Platinum Ad Listing we absorb the usual closing costs and perform the closing promptly and professionally.
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I am wondering if timeshare sellers and buyers find theirselves dealing with these possible extra costs frequently or rarely? It must really be an advantage to have an attorney handy when needed. How often lately have these extras become issues?
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"does not include paying recording fees, resort transfer fees, taking curative action to clear title, a title search or title insurance, courier fees, or other third party charges or fees. The attorney charges an administrative fee of $25.00. In order to qualify for this option, a seller must be able to produce a legible (scanable) copy of a recorded deed showing title in his name. Otherwise, the attorney will attempt to obtain a copy for a fee of $100.00 plus the attorney's out of pocket costs (usually less than $25.00)."
Lock-Out Feature 
Lock Out Unit 
Lockout question 
..Sorry I just had a 2 martini lunch...anyway you can bank your unused half of your lockout, rent it out or stay for two consective weeks if you use half of the time share unit. The versatility of a time share lockout makes it easier to use and give you a better vacation value with all the potential options.
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