Am I allowed to rant about trying to purchase a Regal Vistas resale from am TUG member???

[BJRSanDiego]

I bought 5 timeshares: 1 with Redweek, 3 with eBay, and one through Tug Market place. I am listing this in the order of how the transaction went, from least to best. On the first and last, I wrote a definitive offer letter spelling out price, down payment, closing company, first year of use, first year of maintenance fee, etc.

The Redweek purchase was the most difficult. Even though it was assisted by a licensed broker on the sellers part, (in my opinion) either the buyer and agent didn't read my offer letter completely before accepting and then wanted to change the terms that they agreed to (they wanted me to pay a year's MF for the year before I got first use).

The three ebay purchases went well. In each case I had really screened the seller. I made sure that they had sold hundreds and hundreds of timeshares and that their satisfaction rating was essentially 100%. I did that because I thought that if there was a problem, these sellers would make things right. In one case, there was an issue but the seller stepped up and fixed it.

The best closing was through the Tug marketplace. Both the seller and buyer (me) pretty much knew what we were doing and what had to be done. We used LT Transfer and they were very good at communication and keeping things moving.

So, if I were to buy another TS, I wouldn't hesitate to use the market place. In my case with the Tug seller, I presented a fair and well documented offer which was accepted. I had the seller's phone number so, while we used email for a documentation trail I always had a back up way of reaching him. My seller was responsive, but if they had gone "quiet" I would have just called them. Also, after acceptance of my offer, I sent the seller a down-payment check and started the ball rolling with LT Transfer. I think that from offer to deed recording was perhaps 4 weeks ??

I think that the original poster may have been better served by making an offer, contingent upon receiving a correct/confirming Estoppel and upon acceptance, and sent a down payment (Consideration). But the whole thing is like buying a house or a car in that until a formal offer is made, and is accepted, and Consideration is made, there is no contract or commitment of either party. The buyer can say they're interested and the price is okay, but until there is a formal offer/acceptance/consideration there is no contract and either party can walk or change terms, etc.

 

[Misslady]

This was me. I probably put the ad up before I was ready to sell but I listed it above ebay market price and expected it to take a few months to a year to sell. I was upfront that I had 2 weeks and wanted to sell one but keep the other. One was a week 29 and the other a week 30. Everyone asked if the price was negotiable and I said for the most part no because at this time if I sold one, I sold one and if not, I was happy to keep it.

The OP didn't make a specific offer but did say she was leaning more toward one week than the other but didn't specify which and wanted to see an estoppel before making an offer. I contacted the resort who said that I had to have a closing agent make the request. I contacted LT who said they charge $50 for estoppel requests. I wasn't keen on spending $100 without an offer but did I tell the OP I would do it. Life and finances got in the way (I was sick, my son 15yo was clipped by a car and had a broken ankle that was complicated by being near one of his growth plates), I am dealing with 2 estates of relatives that died this year, I work retail and despite feeling unwell I had major medical problems in Feb and May each requiring long times off, November and December are the busiest months, and I have MF's for a dozen timeshares. In the meantime I was made an offer at my original asking price who was willing to commit to a contract subject to the verification through an estoppel. I accepted and removed the ad.

My communication sucked but until I had an estoppel I didn't really have anything additional to relay to the OP since that was a condition of any offer on her part. At that time I wasn't really in the mood to talk about my personal circumstances or my terrible habit of procrastination.

I did give a full explanation of rci points and specifically about massanutten points so if nothing else the OP has a better knowledge of the product than she would have gotten from most other sellers.

I still have a Woodstone points that I will be looking to sell but will wait to list that to I have it better prepped to sell. With my luck if I do that it will take 1-2 years to sell that one, especially since the DVC announcement and there are RCI points owner looking to bail.

And no I wasn't selling on ebay. I was looking to sell without any money out of pocket from me which I was able to do.

What am I missing. You gave me a price of $3,000 and I came back and told you I would take week 29. You explained everything in detail I thanked you for it and was ready to move forward. The last time I emailed you, you said you were ill and waiting to get the estoppels for Masanutten and that was it. You never communicated anything else to me. How was I supposed to know what was going on if you didn’t tell me? I thought once you received the estoppel from Massanutten approving the sale I would send the money and we would sign the papers then. If there was more that needed to be done you should have let me know. I have no doubt in my mind you didn’t know I was a serious buyer and wanted it. You didn’t communicate any of this to me and if you wanted me to pay the fees or whatever that was no problem but you NEVER communicated and of that. Also, why wasn’t I given the courtesy before selling to someone else? This was my first resale I didn’t know. No thank you,I do not want Woodstone I’m only interested in the Regal Vistas. Sorry for all you have been going through and I hope you son is doing well. Also, Thank you for coming forward and telling your side and hopefully everyone reading this will understand why I have decided to just go with the developer. I‘m experienced enough for resale and never want to experience anything like this again. Sometimes peace of mind is priceless. And for the record I didn’t do anything wrong and didn’t deserve to be ghosted like that.

 

[silentg]

Buying from the developer isn’t the answer. You will spend way too much. I suggest you try again with another TUG member that might be selling or giving away a week that you want. Good Luck! Most of us are just timesharing because we enjoy it. To me, it’s a vacation that I don’t consider a business. Luxury at less cost. Also, most resorts have a list of owners who want to sell their timeshares, consider a for sale by owner?

 

[Misslady]

tug is a great resource and as @DaveNV pointed out most show up on eBay - I have gotten 1 from tug marketplace and it’s been a slow process…I am assuming because it is a smaller company compared to my eBay purchased contracts. After deciding what I wanted and where I searched the forums for info on eBay sellers. Using others tugger experiences and found one I would be willing to work with. 2-3 went phenomenally well and closed way faster than expected…caveat being that I paid for a closing, which was again fine by me as it’s a well known on tug2 with decent reviews.

I don’t want to be another read before you make a decision comment with out telling you what to look for but google searching eBay sellers + tug
seemed to work far better than the search forum button

An estoppel is not something generally offered, nor should be expected, before an official offer is made and escrow opened.

As a new member there was information that was recommended I read which I’m sure was offered to everyone. I used that as a guideline however I was told buy the seller they were waiting to receive it from Massanutten. So if it’s not something that could have been obtained I should have been made aware of that. I was given a chance at all. Everyone says something different but estoppels are ALWAYS offered on ebay. So I’m assuming it should be expected. If the seller wanted me to but the money in escrow I would have gladly done that but I didn’t know about that and it was requested.

 

[Misslady]

Oh good. But are you searching their listings as well? I would be in your shoes.


Sent from my iPhone using Tapatalk

Yes, I turned to reedweek after being ghosted.

 

[Misslady]

See Reply #15 above. I think this may be your Seller.

Dave

Yep that’s my seller and hopefully everyone why I don‘t want to try my had at resale anymore. Too disappointing. I was ready to go just waiting on the seller who never mentioned and of that stuff to me. I just needed to know what the next moves were. I can see if I tried to cut a deal or something but I agreed to everything they said and I still missed out.

 

[Misslady]

I bought 5 timeshares: 1 with Redweek, 3 with eBay, and one through Tug Market place. I am listing this in the order of how the transaction went, from least to best. On the first and last, I wrote a definitive offer letter spelling out price, down payment, closing company, first year of use, first year of maintenance fee, etc.

The Redweek purchase was the most difficult. Even though it was assisted by a licensed broker on the sellers part, (in my opinion) either the buyer and agent didn't read my offer letting completely before accepting and then wanted to change the terms that they agreed to (they wanted me to pay a year's MF for the year before I got first use).

The three ebay purchases went well. In each case I had really screened the seller. I made sure that they had sold hundreds and hundreds of timeshares and that their satisfaction rating was essentially 100%. I did that because I thought that if there was a problem, these sellers would make things right. In one case, there was an issue but the seller stepped up and fixed it.

The best closing was through the Tug marketplace. Both the seller and buyer (me) pretty much knew what we were doing and what had to be done. We used LT Transfer and they were very good at communication and keeping things moving.

So, if I were to buy another TS, I wouldn't hesitate to use the market place. In my case with the Tug seller, I presented a fair and well documented offer which was accepted. I had the seller's phone number so, while we used email for a documentation trail. My seller was responsive, but if they had gone "quiet" I would have just called them. Also, after acceptance of my offer, I sent the seller a down-payment check and started the ball rolling with LT Transfer. I think that from offer to deed recording was perhaps 4 weeks ??

I think that the original poster may have been better served by making an offer, contingent upon receiving a correct/confirming Estoppel and upon acceptance, and sent a down payment (Consideration). But the whole thing is like buying a house or a car in that until a formal offer is made, and is accepted, and Consideration is made, there is no contract or commitment of either party. The buyer can say they're interested and the price is okay, but until there is a formal offer/acceptance/consideration there is no contract and either party can walk or change terms, etc.

The price was already listed and I agreed to it. The question was which week and I thought we had to get a right to resale from Massanutten. If the seller never said I need a down payment or escrow payment or any of that. I didn’t know and it wasn’t communicated. All I wanted to do was pay the money and sign the papers. I didn’t know any of the between stuff. I only too a email for the seller to say I need you to send whatever dollar amount and are you will to pay the fees of whatever they were. I wasn’t given a chance because again I DID NOT KNOW NOR WAS IT COMMUNICATED. It was my first resale and the only one I was interested in. I want the timeshare to use not to sell or rent so I know exactly what I Want and it doesn‘t go up for sale often.

 

[Misslady]

An estoppel is not something generally offered, nor should be expected, before an official offer is made and escrow opened.

What offer was I supposed to make when the sale price was clear. Was I supposed to negotiate? I was willing to pay what the seller was asking for. I’m confused.

 

[dayooper]

What offer was I supposed to make when the sale price was clear. Was I supposed to negotiate? I was willing to pay what the seller was asking for. I’m confused.

Because the estoppels costs money. If a buyer backs out, the seller is out the money spent as a new buyer will need the most up to date and the seller will have to pay again.

I really hope you don’t go the developer route. It’s way overpriced and you can get so much of a better deal on the resale market. This one didn’t work out, but resale is generally pretty easy. You gotta do what you gotta do, though.

 

[Misslady]

Buying from the developer isn’t the answer. You will spend way too much. I suggest you try again with another TUG member that might be selling or giving away a week that you want. Good Luck! Most of us are just timesharing because we enjoy it. To me, it’s a vacation that I don’t consider a business. Luxury at less cost. Also, most resorts have a list of owners who want to sell their timeshares, consider a for sale by owner?

I understand what you’re saying about the developer. But after reading some of the comments on this post my peace of mind is priceless. The seller spoke up but talked in circles and I still don‘t understand how or what went wrong. Evidently I was supposed to set up some escrow but they never mentioned that. There is a wealth of information on TUG and I have learned so much. I have been a Vidanta owner for over 20 years because I too enjoy the luxury at less cost and after 20 years I have decided I wanted a change. I’ve been searching since September almost daily so I know what’s out there and there is a lot but I it’s not for me I’m looking for something specific. The way the ball was dropped on this just left a bad taste in my mouth because I still didn’t get a valid explanation and I don’t want to subject myself to that again. At least I have this experience to compare the developer experience to so I know what I’m getting into. Seem’s to be a bit much when dealing with resale especially if you’re not a guru.

 

[dioxide45]

What offer was I supposed to make when the sale price was clear. Was I supposed to negotiate? I was willing to pay what the seller was asking for. I’m confused.

I guess the contradiction here between both sides is that you say you made a clear offer, but the seller is saying that an offer wasn't going to be made until you were able to review the estoppel. It seems like there was a lack of communication between buyer and seller. Not trying to point fingers here, though the seller is saying their communication wasn't good. A question I do have is, did you also try to reach out via direct DM in the forums since it seems that you knew who the seller was in the forum?

The OP didn't make a specific offer but did say she was leaning more toward one week than the other but didn't specify which and wanted to see an estoppel before making an offer.

What am I missing. You gave me a price of $3,000 and I came back and told you I would take week 29. You explained everything in detail I thanked you for it and was ready to move forward.

 

[Misslady]

Because the estoppels costs money. If a buyer backs out, the seller is out the money spent as a new buyer will need the most up to date and the seller will have to pay again.

I really hope you don’t go the developer route. It’s way overpriced and you can get so much of a better deal on the resale market. This one didn’t work out, but resale is generally pretty easy. You gotta do what you gotta do, though.

How was I supposed to know that? The seller didn’t say anything. If I knew I could order it I would have. It was for me anyways so the seller should have told me what I needed to do. Again I don’t know enough to buy resale and I thought the seller would communicate anything that needed to be done on my end. Again I didn‘t know but most important the seller didn‘t communicate any of this or even give me a chance. I would have preferred to buy resale but what I want doesn‘t come around often. Thing is I was so serious in buying and I’m here right now (after paying full price since I’m not and owner) and have a review set up for tomorrow. I know the developer is overpriced but buying resale has left a bad taste in my mouth as well as trust issues, If I couldn’t trust a seasoned TUG user then who.

 

[theo]

An estoppel is not something generally offered, nor should be expected, before an official offer is made and escrow opened.

I agree. Moreover, an estoppel (which costs a seller money out of his / her pocket to obtain) is really just an account snapshot of a moment in time. That "moment", in order to be current and accurate, should be very shortly before actual closing --- not an immediately fulfilled demand in response to a potential buyer's initial inquiry.

 

[silentg]

If it were me, I would wait a bit, before buying, you will get a better perspective if you don’t buy because of a bad experience. Just seems like a misunderstanding between you and the seller.

 

[Misslady]

I guess the contradiction here between both sides is that you say you made a clear offer, but the seller is saying that an offer wasn't going to be made until you were able to review the estoppel. It seems like there was a lack of communication between buyer and seller. Not trying to point fingers here, though the seller is saying their communication wasn't good. A question I do have is, did you also try to reach out via direct DM in the forums since it seems that you knew who the seller was in the forum?

No I did not reach out in the forum because the emails were going very well. The last email the seller sent was they were under the weather and was waiting on the estoppel for Massanutten. At that point there was nothing more to discuss. The price was already listed at $3,000 I said I would take week 29 and as far as I knew once they estoppel or right to sale was granted from Massanutten the seller would tell me what the next step was. What’s the contradiction? The seller knew I was knew because I asked a few questions and they explained in detail. I thanked them and asked how do we proceed. I have went back and reread those emails and I just had my daughter read them and I just don;t see he were I dropped the ball. If you want to read them you can read them too because I want to understand the miscommunication.

 

[Misslady]

I agree. Moreover, an estoppel (which costs a seller money out of his / her pocket to obtain) is really just an account snapshot of a moment in time. That "moment", in order to be current and accurate, should be very shortly before actual closing --- not an immediately fulfilled demand in response to a potential buyer's inquiry.

Well guess what. The beginners information need to be changed or updated because that’s where I go it from so direct your expertise to the administrators.

 

[DeniseM]

Yes, I turned to redweek after being ghosted.

Just to clarify - buying on Redweek is buying resale. Unless you buy directly from the resort, you are buying resale, no matter where you see the Ad.

Buying a timeshare can be overwhelming at first, but don't be afraid to ask questions, and don't be afraid to bow out, if it's not going well for any reason. One thing that can really help is having the assistance of a reputable title company, because they know how things should go and what needs to be done. Early in the purchase process, I recommend contacting a title company for assistance. The usual practice is that the person who pays for the title transfer gets to choose the title company, but some resale companies want to use their own affiliated title company, because it's part of their profit.

This is the title company I use - they are Tuggers, they get high marks on TUG, and they are efficient and inexpensive - usually less than $200.
L.T. Transfers
www.lttransfers.com
readylegal@gmail.com
706.219.2709

 

[Misslady]

If it were me, I would wait a bit, before buying, you will get a better perspective if you don’t buy because of a bad experience. Just seems like a misunderstanding between you and the seller.

Everyone seems to be stuck on the estoppel. I just asked if they had one. If the seller felt some type of way about it then they should have said that. That was not a make or break for the sale at least not only end. If that was for the seller it’s a shame to ghost someone over a $50 or $100 estoppel when they had no issues paying the asking price for the listing. Why put the blame on me for asking if they had one? It was a bad misunderstanding for me because I was the one who lost out for no reason at all.

 

[Misslady]

Can someone explain this to me please? When a timeshare in being resold is it the buyer or seller that set‘s everything up? Who responsibility is it to do what? In this case I was the buyer. Since I’m the one paying am I supposed to set up an escrow account and hire a closing lawyer? What is my role?

 

[theo]

Can someone explain this to me please? When a timeshare in being resold is it the buyer or seller that set‘s everything up? Who responsibility is it to do what? In this case I was the buyer. Since I’m the one paying am I supposed to set up an escrow account and hire a closing lawyer? What is my role?

There is no single, universal, one size fits all answer or situation in resale timeshare transactions.

Buyers and sellers generally work the transaction details out between themselves in a private sale. In many eBay transactions however, the reseller is often not the timeshare owner at all, but a third party entity. In such instances, the closing entity (and costs) are very often pre-determined and not further negotiable, whereas in a direct owner-to-buyer transaction, with no such "middleman" involved, those details are usually open to discussion and negotiation and, ultimately, mutual agreement. Also, fwiw, estoppels are frequently either unavailable or fraudulent in eBay reseller transactions --- some eBay resellers simply fabricate their own worthless documents, if or when necessary.

For what it's worth, I believe that private sellers on either TUG or RedWeek tend to be knowledgeable and trustworthy. I say that after a fair number of years of dealing with both timeshare-related sites as a seller, a buyer and a renter. Although you are clearly displeased with how your particular TUG experience unfolded, your situation appears to have simply been one of unfortunate timing and very poor communications (...on both sides), but certainly not reflecting any ill intent by the seller.

P.S. Buying developer-direct and paying an obscene price in a knee jerk reaction to your disappointment would be a real waste of money and not at all in your best interest.

 

[Misslady]

Just to clarify - buying on Redweek is buying resale. Unless you buy directly from the resort, you are buying resale, no matter where you see the Ad.

Buying a timeshare can be overwhelming at first, but don't be afraid to ask questions, and don't be afraid to bow out, if it's not going well for any reason. One thing that can really help is having the assistance of a reputable title company, because they know how things should go and what needs to be done. Early in the purchase process, I recommend contacting a title company for assistance.

This is who I use - they are Tuggers, they get high marks on TUG, and they are efficient and inexpensive - usually less than $200.
L.T. Transfers
www.lttransfers.com
readylegal@gmail.com
706.219.2709

I know. I deleted the redweek account. I don‘t trust them either. As fa as the resale I though I had, I did ask a lot of questions and the seller answered them satisfactorily and in detail. I was extremely please and even more comfortable moving forward with the purchase. I didn‘t know I anything about contacting a title company I thought the seller had everything set up and all I would have to do is sign the papers and send the money. After all the valuable information and detailed explanations the seller gave me nothing was mentioned about how we were going to move forward with the sale. I thought they had to wait for the paperwork from Massanutten. I read in a few forums that Massanutten had the right to refusal a sale and before it could be complete they had to approve it. What do I know. All I know is resale isn’t as painless as I thought.

 

[Misslady]

There is no one size fits all answer. Buyers and sellers generally work these details out between themselves in a private sale.

Welp there it is. Perfectly said. Communication Is important.

 

[DeniseM]

Can someone explain this to me please? When a timeshare in being resold is it the buyer or seller that set‘s everything up? Who responsibility is it to do what? In this case I was the buyer. Since I’m the one paying am I supposed to set up an escrow account and hire a closing lawyer? What is my role?

First of all - you don't need a lawyer - you can use a timeshare title company for a fraction of the cost (see my suggestion in post #42.) Hiring a lawyer is more cost and more service than you need.

Generally, the terms are negotiated between the buyer and seller, and a lot of times, the most experienced person leads the way, simply becuase they know what needs to be done.

After you agree on the price, the next step is usually to sign a purchase agreement, the title company can provide one. All the terms are laid out in the purchase agreement and if you want an estoppel letter, that can be stipulated in the purchase agreement. Then the title company will request the estoppel letter and also make sure the estoppel agrees with the purchase agreement and the deed. That's why I would get a title company involved as soon as you agree to the price. They will move things along, as needed.

I have never bought a timeshare for so much money that I thought it required escrow, however, I don't know how much your timeshare costs. I know that Redweek can provide escrow, so that may be a good option for you.

 

[bogey21]

Because of my age I am now out of TimeShare ownership but during my heyday I probably bought, sold and gave away at least 50 over the years. When prospective deals got complicated or off the rails I walked away and moved on. It happened many times. For a myriad of reasons some deals are just not meant to happen. Reading all this reinforces my way of thinking...

George

 

[Misslady]

If it were me, I would wait a bit, before buying, you will get a better perspective if you don’t buy because of a bad experience. Just seems like a misunderstanding between you and the seller.

You’re right. We’ll see what happens.