posted 04-03-2005 15:41               

I asked the reseller about this and they suggested "an addendum stating that you will not be responsible for fees until 2007" but then came back and said their manager would not sign it.I have asked again for written permission from the current owner for permission to verify the 2005 & 2006 MF have been paid and after 2 days I have not heard anything back, though it is the weekend.

The reseller has offered to let us walk away from the deel without bad feedback. I don't understand their desire to end the deal. I asked them if there is a problem I should be aware of?

Is there some other way I can verify that I will not be responsible for these MF until 2007? Any suggestions?

posted 04-04-2005 14:17               

Good Luck

posted 04-04-2005 20:23               

I have not heard back from the reseller since Friday.

Scott

posted 04-09-2005 20:13               

Follow Dave's advice. Just offer to deduct the 2 year's fees from the purchase price without written confirmation from the resort. If this is an eBay purchase file a Square Trade complaint and a nonselling seller complaint. We honest eBay sellers do not need people like that giving the industry a bad name.

I recently bought one from a seller who guaranteed week 9 usage. Sales was in Dec. Turns out the seller hadn't even closed on the deed from the buyer and as such did not have the control to make such a sales promise. He did void the sale and I got my $ back. The seller was rude, said he wasn't a personal travel counselor and that since the usage was a "throw in" I shoud not be upset about now getting it. Of course his ad emphasized the usage as an incentive.

Tom

posted 04-09-2005 20:49               

Did the reseller have you sign a sales contract that spelled out ALL the details of the sale? If so, first usage and the status of the maintenance fees is spelled out in black in white. The guarantee of a free and clear title must be incorporated into the escrow instructions and what is to happen to your money if a clear title can’t be gotten without a lot of money being paid (like for liens, back taxes, back maintenance fees, and any unpaid extraordinary charges made by the resort) – more money than what you have sent in.

Then a closing company takes over and follows the instructions from the sales contract and escrow instructions. In these instructions an Estoppel letter will be signed by the seller and sent to the resort.

This Estoppel letter will get the current status of all dues, special assessments, and the status of usage for 2005 and perhaps 2006.

This will protect you from most of the bad things that can go wrong.

If some of the above doesn’t sound familiar then the reseller hasn’t a clue what the heck to do selling the timeshare and unless you have this expertise I would walk away (run would be better) from this deal.

The first thing you should have done is to get a fax copy of the deed and check as much information yourself.

The second thing you should have done is to agree on a closing company and who pays those fees.

But to answer your question, the Estoppel letter will make all of this clear. If the seller is delinquent in his fees and other items the closing company must be instructed to pay those items and do everything it can to get a free and clear title.

Title insurance is something you should also get, unless you are buying a $1,500 timeshare – and even there I would ALWAYS get title insurance.

Good luck,

posted 04-10-2005 09:26               

This purchase is through a major eBay reseller. I do have a sales contract and everything is spelled out. My concern was that future maintenance fees still being due would not neccessarily cause the warrenty of a free and clear title to be enforce. I now have a written agreement that we will not be responsible for 2005 or 2006 mf. I am happy with that. I don't plan to own this deed that long.

BTW it is a $260 purchase. Resort transfer and closing more then tripple the purchase cost.

Thank you for all the good advise. I don't feel the need to run from this one. But it is sound advise all the same.

Scott

posted 04-10-2005 09:45               

quote:

---

Originally posted by Leturno:

I now have a written agreement that we will not be responsible for 2005 or 2006 mf. I am happy with that. I don't plan to own this deed that long.

[/B]

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posted 04-10-2005 11:07               

Even with an Estoppel letter and the resort acknowledging that 2007 MFs have been paid there are cases here on TUG of new owners still getting a MF statement months before the New Year demanding payment of MFs! And the resort acknowledged that payment had been made.

The resort can change their mind and just say “Oops” and you must pay.

I would ask for proof of 2007 payment from the seller – copies of checks or credit card statements for 2005, 2006, and 2007.

Beyond that you have done everything that can be done – if you get stung it’s not for anything you forgot to do on your part.

You can type up your own Estoppel letter and send it to the owner, thus bypassing the broker who may charge $50 to do this.

posted 04-10-2005 11:36               

As difficult as it is for sellers to find buyers, and good buyers at that, you do not have to put up with this.

Get it in the contract.

When we sold our weeks I did a sales agreement and included in it that email communications that we had had were included as part of the agreement, so that I was standing by everything I had said, giving that assurance to buyers who did not know me.

Is this the only fish in the sea?

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