Questions about buying resale

[WanderingCrab]

I see a sticky about renting and another about selling, but I'm looking for advice about buying as I have never done this before.

I've located a Redweek listing that interests me, however before I make contact, I'd like to be a bit more informed about the process and what I should ask and look out for.

I'm planning to ask about verification as to the # of points, annual usage,etc. However, how do I verify these are actually true before moving forward?

Is there a way to ensure that the current owner is up-to-date on their maintenance fees, etc? How do I ask for these things?

Honestly, any advice about the process is appreciated!

 

[Passepartout]

You would ask to be provided with an 'estoppel' letter from the resort that will show all those things.

 

[Eric B]

There are a few pages on the tug2 site with advice on a variety of subjects. The one on buying is at http://tug2.net/timeshare_advice/timeshare_purchase_checklist.html. The rest are worth looking through at your leisure as well.

 

[WanderingCrab]

Thank you both!

 

[WanderingCrab]

I emailed the broker for the listing I was looking at and asked for the estoppel letter from the resort. Their response was that they could not share the owner's information. Is this right? Is there another way to approach this?

 

[vacationhopeful]

It is called "White Out" ... tell them to redact the owners' personal information .. like the last name and street address, not city & state BUT leave everything else to verify "what you are buying" and the city & state to be sure it is the same "item" is actually being SOLD to you.

 

[DeniseM]

Or, they may not have an estoppel, and don't want to bother to get one. In which case, you move on.

 

[Mosescan]

Use a TUG tested and approved broker like Judi Kozlowski or Seth nock and you should have no issues. Both come highly recommend by people here.

 

[WanderingCrab]

Thank you! What about a redweek full-service listing? Are they trustworthy?

 

[DeniseM]

You will want to read this current thread about Redweek full-service listings: https://www.tugbbs.com/forums/index...dweek-full-service.270077/page-3#post-2113656

Regarding "trustworthy" - The best thing you can do to ensure a smooth and legal transfer is to use a reputable title transfer company. They can walk you through the process and recognize issue that may be a problem. I use LT Transfers - they also provide a purchase agreement and request an estoppel letter to verify what you are buying. 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