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Starwood Estoppel

SOS8260456

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I rec'd my closing documents, but a copy of the estoppel from Starwood was not with them. When I requested it, I was told by the attorney that they were not allowed to provide the buyer with a copy because there is confidential information about the seller on it. I said I had never heard of such a thing. I can see maybe an account number which I told her to black out if that was a problem, but she insisted that is why they are the 3rd party escrow agent. That they have verified on the closing statement that all fees are current and the unit numbers, etc and that they would be held to that if there were any problems.

This is the first timeshare in a long time that we have spent any significant money on, but when we did purchase a lot way back before the "crash" we always saw the estoppel. Of course, these were all Wyndham contracts. The attorney's office said that Wyndham does it differently and that if it had been a Wyndham contract then they would have no problem allowing me to see it.

We left it at she is going to contact the seller to get permission to release the estoppel to me.

Is my thinking off here?
 

Weimaraner

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I received one of those from my closing company just yesterday. :) Was thrilled that I was able to compare it with the example document on TUG.
 

SOS8260456

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They ended up sending it later this afternoon. Everything is in order.

I knew there shouldn't be a problem. Thanks for confirming it.
 

Captron

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Just a question because I don't know (but have been told)...

Starwood will not send their form to the seller or purchaser directly but it must be sent to the closing company.

Accurate? or Not?
 

DeniseM

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Just a question because I don't know (but have been told)...

Starwood will not send their form to the seller or purchaser directly but it must be sent to the closing company.

Accurate? or Not?

Yes, although I don't know why.
 

VacationForever

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In various resale purchases that I had made thru eBay sellers I have never received the estopel / resale information sheet despite asking from the seller and closing company. Instead I called Starwood directly and they were very helpful each time and read the information to me, including whether MF is current, what is the next available use year, seasons etc.
 

jarta

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Yes, although I don't know why.

There are thousands of resale transfers Starwood has to process each year. My best guess is even the more unprofessional closing companies have a better chance of presenting reliable and accurate closing documents and deeds to Starwood than DIY sellers. A DIY seller without a closing company is more likely to pocket the money and walk away - leaving the buyer with a defective transfer and no recourse and Starwood with a headache it did not create. Salty
 

Renny30

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I called Starwood directly and they were very helpful each time and read the information to me, including whether MF is current, what is the next available use year, seasons etc.

I forgot I did this. When I received the estoppel I called Starwood to verify everything on it was correct, because the estoppel was from April and I was buying in September and I'm from NJ and I don't trust anybody. :) They were willing to confirm everything.
 

aeroflygirl

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Fredm

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I have a question. If I read the estoppel correctly, it is for the Westin Princeville villas and it states, "Membership in the Starwood Vacation Network (SVN) must transfer with owner...".

I thought that Princeville was a voluntary resort and that membership in SVN did not transfer???

You are correct. The example estoppel is wrong. I have not seen one completed incorrrectly in a long time, but it was a fairly common mistake a few years ago.
 
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aeroflygirl

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You are correct. The example estoppel is wrong. I have not seen one completed incorrrectly in a long time, but it was a fairly common mistake a few years ago.

So if you purchased based on the attached estoppel and insisted on SVN membership, would they let you in? If not, what would happen?
 

VacationForever

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So if you purchased based on the attached estoppel and insisted on SVN membership, would they let you in? If not, what would happen?

The first paragraph clearly states that they have no liability for inaccurate information. No they will not let you in if the resort is voluntary, regardless.
 

Fredm

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So if you purchased based on the attached estoppel and insisted on SVN membership, would they let you in? If not, what would happen?

The header paragraph states that neither the association nor management company has responsibility for any inaccuracy.

The fact that it stated SVN membership entitlement incorrectly does not change the governing documents (or rights granted by deed) which dictate said rights.

That said, Starwood has made mistakes in the past and chose to honor a couple I know of, when pressed.
So, there is no clear cut answer to your question. It depends on Starwood's good will.
 

jarta

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I believe Starwood would offer to buy the deed for your out-of-pocket cost and make you whole. Salty
 
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