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Timeshare resale process

seinfeld178

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Hi - I am new to this website and a newbie to timeshares overall.

I have agreed to terms with a seller to buy a resale and have a copy of the contract. There is a broker involved in the transaction.


Can anyone point me to anywhere on the bulletin boards that describes what to do next before signing agreement? I couldn't find any details to help me. Thanks!
 

tombanjo

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I don't know if there is a one size fits all post on what to do next, as there are certainly different types of timeshares and therefore different considerations.

In any case, the contract spells out your responsibility as well as the sellers. So no matter what you read online, you need to review and understand what you are signing.

Some considerations

1) If it is ROFR (Right of First Refusal)- that is the next step that must pass. You may be asked to put a deposit down while waiting for ROFR.
2) You should have an estoppel that indicates EXACTLY what you are purchasing and fees, including past due, due and expected future. It should contain points, season and unit if it that type of timeshare.
3) If there is a deed, it is free and clear and if a title search has been done.
4) What is expected that you are paying, the price, and any fees for closing, broker, account set up fees, etc.
5) If it ain't written in the contract, don't expect it to happen. No matter what you agreed in email, in person or on the phone, the contract is what matters.
 
Last edited:

dayooper

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Hi - I am new to this website and a newbie to timeshares overall.

I have agreed to terms with a seller to buy a resale and have a copy of the contract. There is a broker involved in the transaction.


Can anyone point me to anywhere on the bulletin boards that describes what to do next before signing agreement? I couldn't find any details to help me. Thanks!

What are you buying? If it’s a system, there are individual forums here on Tug for most major systems and they will be able to answer most questions. They can also give a rough timeline to what will happen as well. As @tombanjo says above, the contract will tell you what your obligations are.
 

Eric B

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