If you've ever dreamed of owning a vacation getaway, consider a timeshare. Timeshares offer a smart and affordable way to purchase property in your favorite vacation spot. By buying into a timeshare, you can lock in the price of your annual vacation and, with some, you might even build equity.

Understand Timeshares

When you buy a timeshare property, you buy a certain amount of time to use the property each year, splitting the cost of a vacation home with many other people. Timeshare properties are often a part of a larger community with amenities such as swimming pools, recreation rooms, or gyms. They can also be stand-alone homes or condos. Understand the types of timeshares

There are two main kinds of timeshares: fee simple and right-to-use. With a fee simple timeshare you purchase a piece of property with other people, own it, and build equity over time. Ask the seller if you can visit the timeshare before you purchase. If you're thinking of spending a week there every year, you better make sure you like it.

Right-to-use timeshares are generally less expensive. You purchase the right to use the property, but a developer owns it. When your contract is up you need to renegotiate terms with the owner.

There are fixed and floating right-to-use properties.

* Fixed timeshares: With a fixed property timeshare, you will use the same property each time. Make sure that the timeshare is available when you regularly go on vacation each year, especially if you don't have much flexibility in choosing your vacation time.

* Floating timeshares: Floating timeshares offer great flexibility. You're entitled to a certain number of days a year, but those days can change from year to year to fit your schedule. You're guaranteed a similar timeshare property every time you vacation, although you'll often have different accommodations.

Many large hotel companies also offer timeshare services, including Marriott, Hilton, Worldmark, and Bluegreen.

Research timeshare location

Research the location of the timeshares that interest you most. Do you want to visit the area year after year? Also look at the prices of comparable accommodations in the area to find out how much you'll save on your vacation over time.

Understand Your Timeshare Rights

Timeshare programs are almost always governed by a set of legal documents known as the codes, covenants, and restrictions (CCRs). CCRs establish the rights of property owners and govern how the timeshare will be managed. Before you buy, read the CCRs carefully and make sure you understand them, including the requirements relating to fees, charges, and restrictions on usage.

Know your timeshare payment requirements

Payment for timeshares usually consists of an up-front purchase cost and an annual fee to cover property maintenance.

Understand timeshare maintenance fees

Annual maintenance fees, assessed by the management company, can cover expenses such as cleaning the pool and paying taxes, utilities, and building up financial reserves. They can also cover housekeeping expenses and ensure timeshare units are stocked with basic necessities such as dishes, sheets, and toilet paper. Fees can vary. Make sure you understand what the fees cover.

Get through timeshare paperwork

The timeshare buying process depends on the type of ownership and local regulations. For deeded timeshares, title for the property will have to be transferred to your name and recorded with the appropriate government agency. Many owners sell their timeshares through a broker or management company that can complete the paperwork for you.

You can also use a special timeshare closing service to handle all the logistics of closing the sale between you and the seller of the unit you are purchasing. Ask the seller if he or she is using this service.

Find Timeshares on eBay

Once you know what type of timeshare you want, go to the Real Estate portal and click the link to the Timeshares Homepage.

* Timeshares Finder: Use the Timeshares Finder on the Timeshares Homepage to find item listings for timeshares by state, type of timeshare, week, number of bedrooms, number of bathrooms, and price range.

* Categories: The Categories list will help you narrow down listings by type of timeshare. You'll find links to Attractions, Theme Parks, Beach, Ocean, Tropics, Mountains, Skiing, Lakefront, and more.

* Keyword search: Search eBay listing titles for specific words. For example, if you want to find a Florida timeshare, type "Florida timeshare" (without quotation marks) into the Search box. Click "Search title and description" to expand your results. Visit eBay's Search Tips page for more tips on searching with keywords.

If you can't find exactly what you want, try shopping eBay Stores, tell the eBay Community what you want by creating a post on Want It Now, or save a search on My eBay and eBay will email you when a match becomes available.

Buy Timeshares With Confidence

Before making your purchase, make sure you know exactly what you're buying, research your seller, and understand how eBay and PayPal protect you. Know your purchase

Carefully read the details in item listings.

* Figure delivery costs into your final price. If you spend a lot of money, make sure the seller will insure the item when it ships.

* If you want more information, ask by clicking the "Ask seller a question" link under the seller's profile.

* Always make sure to complete your transaction on eBay (with a bid, Buy It Now, or Best Offer). Transactions conducted outside of eBay are not covered by eBay protection programs.

* Never pay for your eBay item using instant cash wire transfer services through Western Union or MoneyGram. These payment methods are unsafe when paying someone you do not know.

Know your seller

Research your seller so you feel positive and secure about every transaction.

* What is the seller's Feedback rating? How many transactions have they completed? What percentage of positive responses do they have?

* What do buyers say in their Feedback? Did the seller receive praise?

* Most top eBay sellers operate like retail stores and have return policies. Do they offer a money-back guarantee? What are the terms and conditions?

Buyer protection

In the unlikely event that a problem arises during your transaction, eBay and PayPal are there for you.

* Pay safely with PayPal: PayPal enables you to pay without the seller ever seeing your bank account or credit card numbers. In fact, PayPal protects buyers 100% against unauthorized payments from their accounts. Plus, with PayPal Buyer Protection, your purchase can be covered up to $1,000.

* eBay Security & Resolution Center: Visit the Security & Resolution Center to learn how to protect your account and use eBay's quick and efficient resolution tools.