TUG Member has not paid closing fees for "FREE" Timeshare--THEY PAID TODAY!

[icydog]

I was giving away two Wyndham Timeshares for my 80+ year old neighbor. All she wanted was to be out from under the Maintenance Fees.

The first timeshare closed without a hitch.

The second one, Governor's Green--78,000Wyndham Points, is ready to close but the "buyer" hasn't paid the $530 in fees necessary to close this timeshare! ($199 mandatory transfer fees to Wyndham are included in this figure). This timeshare cost my sweet neighbor well over $10,000. Why would someone fall off the face of the earth rather than pay this small amount for these points? I'm so upset because my neighbor got two past due bills from Wyndham....while we wait....!

I hope it's just a fluke and they are just on vacation and haven't seen the emails from LT or from me!

 

[vacationhopeful]

Immediately reoffered the deed as a freebie with closing costs by taker. Send an email to the former 'taker' IMMEDIATELY letting them know ... you are moving on as they care not responding to your or LT Transfers.

 

[DeniseM]

Are you using a closing company or doing it yourself?

 

[dioxide45]

Are you using a closing company or doing it yourself?

From the OP, they are using LT Transfers.

 

[DeniseM]

Missed that - I think you need to help your neighbor call the buyer. If the buyer changed their mind, she wants to find out ASAP, so she can find another taker.

 

[silentg]

Check with the LT transfer company and the resort too. The new owner may have paid, and the resort didn't record it yet. We gave away a timeshare and we got the Maintenence bill after the closing, we sent it back with a note that we no longer own the week. Hope that is true in your case. Good Luck!
Silentg

 

[VacationForever]

If LTT did the closing and contract indicated buyer pay closing, LTT would not have proceeded without first collecting the fees from the buyer.

 

[DeniseM]

Based on previous transactions with LTT, the buyer has to send a check to LTT, so they would know if it has been paid or not.

 

[icydog]

If LTT did the closing and contract indicated buyer pay closing, LTT would not have proceeded without first collecting the fees from the buyer.

This is indeed the case. The first timeshare (Wyndham Kingsgate) closed, no problem. I am going to have to call Wyndham and let them know the timeshare is now in someone else's name.

The problem is with the Governor's Green property. Since the deed hasn't been recorded she is still on the hook for the maintenance fees, isn't she?

At the onset, all her fees were paid and we had an Estoppel from Wyndham.
Now, it seems, they are asking for two months in arrears!

 

[icydog]

Missed that - I think you need to help your neighbor call the buyer. If the buyer changed their mind, she wants to find out ASAP, so she can find another taker.

I'll have to find out their phone number from LT. I never had it. Or maybe it's in my PMs. Thanks for suggesting that.

Immediately reoffered the deed as a freebie with closing costs by taker. Send an email to the former 'taker' IMMEDIATELY letting them know ... you are moving on as they care not responding to your or LT Transfers.

Thanks! Isn't this a sad occurrence. Why put us through all this?
I'm still hoping they were/are away from email for a few days.

 

[VacationForever]

This is the case.

The first timeshare closed and that's the case with that one. I am going to call Wyndham and let them know the timeshare is now in someone else's name.

The problem is with the Governor's Green property. Since the deed hasn't been recorded she is still on the hook for the maintenance fees, isn't she? At the onset all her fees were paid and we had an Estoppel from Wyndham. Now, it seems, they are asking for two months in arrears.

Did you ask LTT if the $530 was collected and forwarded to Wyndham?

 

[VacationForever]

For systems that collect MF monthly or quarterly, the ad/agreement needs to be clear if the buyer will be responsible for the MF starting from mm month, and ensure that the estimated monthly fees are added to closing $ for reimbursement as owner on record is responsible until the transfer.

 

[dioxide45]

If LTT did the closing and contract indicated buyer pay closing, LTT would not have proceeded without first collecting the fees from the buyer.

LTT only collects a non-refundable $50 deposit up front. At the time they send the deed out to the seller, they send the buyer a full invoice of all costs minus the deposit. So if the buyer falls through, LTT will keep the deposit and the buyer will be out their $50.

 

[VacationForever]

LTT only collects a non-refundable $50 deposit up front. At the time they send the deed out to the seller, they send the buyer a full invoice of all costs minus the deposit. So if the buyer falls through, LTT will keep the deposit and the buyer will be out their $50.

Yes, hence OP needs to know where in the process it broke down. I did not read that $50 was paid or $530 was paid. $530 might have been what it took for closing, recording and transfer but if 2-3 months of MF were not included in the figure, OP's neighbor would be responsible for the MF otherwise it would not transfer.

 

[DeniseM]

I'll have to find out their phone number from LT. I never had it. Or maybe it's in my PMs. Thanks for suggesting that.

Isn't their phone number on the purchase agreement?

 

[dioxide45]

Isn't their phone number on the purchase agreement?

Sometimes for a simple TUG giveaway, there is no contract or purchase agreement, just a "handshake".

 

[DeniseM]

If you use LT Transfers, you must have a purchase agreement - they require it.

 

[dioxide45]

If you use LT Transfers, you must have a purchase agreement - they require it.

Does LTT have a standard purchase agreement that they will provide if you don't have one yourself? It seems that a lot of people that do their own sales and giveaways on TUG use LTT, I wouldn't see them all having their own purchase agreement templates.

 

[VacationForever]

Does LTT have a standard purchase agreement that they will provide if you don't have one yourself? It seems that a lot of people that do their own sales and giveaways on TUG use LTT, I wouldn't see them all having their own purchase agreement templates.

I have done it both ways. Used my own on one and in a separate sale, used LTT's template.

 

[DeniseM]

LTT has their own template, and I always use it, for convenience.

 

[dioxide45]

Good to know. I think, while the risk is low, if closing on a Florida property, you may want to use your own? I suspect the LTT template doesn't take in to consideration the rescission period for Florida, even on resales?

 

[DeniseM]

I don't have my own purchase agreement, or any FL timeshares, so can't advise on that. If I was using LTT - I would ask them.

 

[am1]

I was giving away two Wyndham Timeshares for my 80+ year old neighbor. All she wanted was to be out from under the Maintenance Fees.

The first timeshare closed without a hitch.

The second one, Governor's Green--78,000Wyndham Points, is ready to close but the "buyer" hasn't paid the $530 in fees necessary to close this timeshare! ($199 mandatory transfer fees to Wyndham are included in this figure). This timeshare cost my sweet neighbor well over $10,000. Why would someone fall off the face of the earth rather than pay this small amount for these points? I'm so upset because my neighbor got two past due bills from Wyndham....while we wait....!

I hope it's just a fluke and they are just on vacation and haven't seen the emails from LT or from me!

With those fees for such a little contract it does not seem so free. I would not purchase it but if the sucker "buyer" already agreed to then they should honor that.

Have you considered giving it back to Wyndham? How much our the fees for it?

It does not make it right but maybe that is why the new owners have not responded.

 

[icydog]

THE NEW OWNERS HAVE SENT PAYMENT THROUGH PAYPAL!

 

[icydog]

With those fees for such a little contract it does not seem so free. I would not purchase it but if the sucker "buyer" already agreed to then they should honor that.

Have you considered giving it back to Wyndham? How much our the fees for it?

It does not make it right but maybe that is why the new owners have not responded.

I wasn't going to reply since the new owners have PAID for this timeshare, but I will.

I brought this two Wyndham Timeshares to Tug so that fellow Tug Members could take advantage of a great deal. I could have gone the Ovation route but decided there might be Tuggers who'd want a Wyndham contract for free. I'm doing this for my elderly neighbor and neither she nor I are making a cent on this transfer.

The fees are as follows
$199 to Wyndham
$331 to LT Transfers (including PayPal fees)

I do not think that's even in the ballpark of what someone would pay Wyndham, is it?

I'm sure there may be Tuggers who can close a contract for free, but I'm not able to do that. I need a closing company since I'm not conversant with the steps necessary to close on a property.

But I think $331 (AI) for LT to close this contract is a reasonable amount, don't you?


This will make me think twice before offering another timeshare for free on Tug. It's a shame that my efforts, and my neighbor's generosity, have been met with this kind of response!