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Buying a resale from owner

Vjm2122

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New to the site but I am working on buying a resale on a HHI timeshare. I am looking to get advice on what I need to be aware of when buying to make sure its legitimate. I had the owner send me a copy of the original deed to the property and it does have both wife and husbands name on the deed. Also called the Marriot location and they confirmed the name and the type of unit as well as the season owned. Owner said he would get the paperwork together for the sale if I am ready to move forward just want to make sure I am not missing something.
 

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DeniseM

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Here is a critical question: WHO is going to do the title transfer?

Personally, I would ask for a professional title transfer, and pay for it myself, to be sure it is done right. (For $150 - $200.)

This will also protect you from being scammed.

Also, if there is a significant amount of money involved, you should consider using an escrow company. An escrow company holds the funds during the transfer to protect both parties.
 

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The seller wants to go with Dan Zwerner who is on HHI and does these regularly. He does full service for both parties but he cost $900. The seller is willing to do $500 so I think that all sounds good. I just need to check out the laywer first.
 

sts1732

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The seller wants to go with Dan Zwerner who is on HHI and does these regularly. He does full service for both parties but he cost $900. The seller is willing to do $500 so I think that all sounds good. I just need to check out the laywer first.

I agree with Denise. There is just something about working with a person who is already a part of the organization, (HHI) that just makes you wonder, who's he working for. Good luck
 

DeniseM

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The seller wants to go with Dan Zwerner who is on HHI and does these regularly. He does full service for both parties but he cost $900. The seller is willing to do $500 so I think that all sounds good. I just need to check out the laywer first.

You should tell him that you will pay for the title transfer yourself, and choose the title company. $900 is far more than it costs - they are padding the fees.

This is who I use - they are Tuggers and they are inexpensive and efficient:

L.T. Transfers
Lisa Short and Mary Pless
http://www.lttransfers.com/
readylegal@gmail.com
706.219.2709
 

SueDonJ

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New to the site but I am working on buying a resale on a HHI timeshare. I am looking to get advice on what I need to be aware of when buying to make sure its legitimate. I had the owner send me a copy of the original deed to the property and it does have both wife and husbands name on the deed. Also called the Marriot location and they confirmed the name and the type of unit as well as the season owned. Owner said he would get the paperwork together for the sale if I am ready to move forward just want to make sure I am not missing something.

I notice in your profile you indicate that you own at SurfWatch. A caution if your new purchase will also be at SurfWatch:

Some deeds at SurfWatch were sold with "Ultimate Occupancy" provisions during the construction phase, which means that the Unit Number entered into the deed may NOT be an indication of the view type being purchased. (For example the deed for an "oceanside" purchase may contain the number of an "oceanvista" unit, with a stipulation that upon completion of all buildings the ownership will be "oceanside.") The onsite personnel do not have the necessary access to confirm whether Ultimate Occupancy is in play - that information is only available from Owner Modifications (800-443-4391 or owner.modifications~AT~vacationclub.com).

This is a related thread: Ultimate Occupancy Provision at Surfwatch

Note in the Marriott system only SurfWatch (Hilton Head Island) and OceanWatch (Myrtle Beach) may be affected by UO. Build-out is complete at both resorts so interim placements of UO owners are no longer happening.
 
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Vjm2122

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I believe this is for the title transfer, the escrow and all the services rolled into 1. I am waiting on the paperwork to see as the lawyer said it is all spelled out on the letterhead what all the charges are for.
 

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Thanks Sue. I checked with Marriott and they were able to confirm that he did rent his place out last year for the platinum season in an Oceanside and the unit on the deed is an Oceanside as well. Since its been 10 years since they have owned it is this something I would need to still check further into? I tried that site you posted but it does not take me anywhere.
 

DeniseM

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I believe this is for the title transfer, the escrow and all the services rolled into 1. I am waiting on the paperwork to see as the lawyer said it is all spelled out on the letterhead what all the charges are for.

LT will do all the services rolled into one for less than $200 - $900 is way too much.
 

SueDonJ

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Thanks Sue. I checked with Marriott and they were able to confirm that he did rent his place out last year for the platinum season in an Oceanside and the unit on the deed is an Oceanside as well. Since its been 10 years since they have owned it is this something I would need to still check further into? I tried that site you posted but it does not take me anywhere.

The link I posted should take you to another TUG thread that goes into more detail about Ultimate Occupancy. My concern is that in your first post you said you got confirmation from "the Marriott location" - if you mean that you've only dealt with onsite personnel at the resort, then I strongly suggest that you contact Owner Modifications to be completely sure about what you're purchasing. They should be able to help you if you have the deed number and ask them specifically, "is this deed affected by Ultimate Occupancy and if so, what is the owned view type?"

And yes, whether or not Ultimate Occupancy was in play at the time of the original purchase will be relevant through the life of the deed.
 
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SueDonJ

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LT will do all the services rolled into one for less than $200 - $900 is way too much.

South Carolina requires that an attorney be involved in the resale process. I don't know if $900 is still way too much but less than $200 doesn't sound correct. :)
 

DeniseM

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South Carolina requires that an attorney be involved in the resale process. I don't know if $900 is still way too much but less than $200 doesn't sound correct. :)

LT Transfers has an attorney on staff - they are good and inexpensive. (I have used them multiple times myself.)
 
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Vjm2122

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I called the Owner Modification number and the woman there said only the resort itself could answer that question. They just said it would be on the deed if it had that provision. The owner did send me a copy of the deed but again being new to this I am not sure how to really read the deed.
 

DeniseM

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I called the Owner Modification number and the woman there said only the resort itself could answer that question. They just said it would be on the deed if it had that provision. The owner did send me a copy of the deed but again being new to this I am not sure how to really read the deed.

Have you requested an estoppel letter? This is a letter from the Marriott title office that documents what you are buying.
 

DeniseM

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SueDonJ

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I called the Owner Modification number and the woman there said only the resort itself could answer that question. They just said it would be on the deed if it had that provision. The owner did send me a copy of the deed but again being new to this I am not sure how to really read the deed.

That's a ridiculous answer. :( You shouldn't be left in the position of calling repeatedly to get someone who knows what they're doing, when you don't have enough information to know when that's happening!

Ask the owner how the Week is indicated in his/her owners.marriottvacationclub.com account. In my account the details for my UO-affected Weeks show them as "View: Oceanside/Gardenview" (meaning an Oceanside ownership with a Gardenview Unit Number attached to the deed) and "View: Oceanvista/Gardenview" (meaning an Oceanvista ownership with a Gardenview Unit Number attached to the deed.)

If the owner needs help finding the info you can tell him/her to sign in and click on, "Vacation Club Portfolio" under "Managing Your Ownership" in the column on the right, then scroll down to the "Ownership Details" line of the Week in question. If two views are indicated the ownership will be the first of the two; if only one is indicated then of course the ownership is obvious.

The first pages of my original deeds also reference the UO information but I'm hesitant to tell you to rely on what you've received from the owner because it's unknown whether s/he was the original owner, thus unknown whether subsequent deeds/transfers reference UO.

Even with all that I would still want confirmation from someone at Owner Modifications who understands what UO is and why confirmation of whether it's in play needs to come from that office. But see if the owner is willing to check his/her account first, before you go off on another wild goose chase. Good luck!
 

SueDonJ

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The owner or title company usually request it, but they don't prepare it - it is a document prepared by the Marriott title office that proves what you are buying.

MORE INFO: http://tug2.net/timeshare_advice/timeshare_estoppel_letters.html

Denise, there have been enough reports to TUG of SurfWatch (and OceanWatch) resale buyers being surprised after the fact at what they've actually purchased, that I wouldn't rely solely on the estoppel. As you can see by the OP's trials there are even some in the Owner Modifications office who aren't aware enough of UO to answer the question correctly. It's completely wrong that Marriott doesn't do all it can to make these deeds as easy to transfer as those not affected by UO, but errors do happen.
 

Vjm2122

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Sue, The owner did give me a screenshot of his marriott ownership and it shows only the Ocean Side view listed as well as the platinum season and gave me the confirmation # of the week that is already booked for next year. So I am pretty confident that it all checks out.
 

SueDonJ

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Sue, The owner did give me a screenshot of his marriott ownership and it shows only the Ocean Side view listed as well as the platinum season and gave me the confirmation # of the week that is already booked for next year. So I am pretty confident that it all checks out.

That sounds great! I'm glad the owner was willing to answer all of your questions and confirm what you needed to know. You'd be surprised at how many owners aren't even aware that Ultimate Occupancy exists, and, that it can have a huge impact on the comfort level of folks searching the resale market.

SurfWatch is my favorite resort and I'm happy this is working out for you. :)
 

Vjm2122

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UO

I was looking through my fathers deeds yesterday as he owns 2 at Surfwatch. Sure enough on of them has the UO on it stating they are buying a Garden View butt it is to be used for the lifetime off the deed as an Ocean Side. I thought that was strange as thhe Gardens were built last but since they had no more deed left for an Ocean Side this is how they got around it. Also when looking I noticed his closing company was Dan Zwerner as well back iin 06. So he has been doing these for a while as well his price has just shot up to over 1000 since his attorney fee is 750 dollaars.
 
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