Purchasing a Timeshare on the resale market requires some due diligence

Purchasing a Timeshare on the resale market requires some due diligence.  Besides talking to the seller and getting the information on the timeshare, you need the third party verification on the deed of the timeshare and this comes from the Timeshare management.

This document is called an Estoppel Letter.

This is a verification of the actual ownership of a Timeshare Interval according to the Timeshare Resort's records.  These are commonly used by potential buyers to verify that the person selling the timeshare is indeed, actually the owner of said Timeshare, and to identify if the interval has any outstanding unpaid maintenance fees or taxes, as well as to determine if there are any outstanding loans against the Timeshare.

Now, how would you get an Estoppel Letter?

Only the owner of a Timeshare can request an Estoppel Letter (or a Licenced timeshare closing service) by a phone call or e-mail by the owner to the timeshare resort.  The Estoppel Letter is sent to the potential buyer directly from the Timeshare Resort Management.  Don’t accept anything less.

This is the best way to obtain confidence in a sale when considering the purchase of a deeded timeshare in the resale market.  It is a must in Timeshare resale transactions.

Here is what a Windham timeshare letter looks like.  There is a processing fee for transfer.  It is nominal.

Buyer be ware always!

 

  - Current Date Listed Here -

 Name of Company making the Request: (Example: Timeshare Closing Services)

 Name of Owner(s) ______________________________

 Contract Number**** ___________________________

 Member Number _______________________________

 Statement Type (M/A) ___________________________

 PAC (Yes/No) __________________________________

 Monthly/Annual maintenance Fee Amount * (Example 50.55 monthly)

 Current Due on Account: (Example -0-)

 Next Due Date: (Example: April 1, 2010)

 Points of Contract (Example 154,000 Every Year)

 Points Available: (Example: 0 for 2013/154,000 for 2014)

 Use Year of Contract (Expiration Date) (Example: 4/1 thru 3/31)

 Is Property Deeded Y/N __________________________

 Is Account in Collections Y/N _____________________

 Previous Year's Property Tax 2013**_______________

 Active Loan Y/N***_____________________________

 Maintenance Fees apply to current year's points on UDI contracts and to

 next years points on all Fixed Weeks contracts converted to points.

  *Information provided is good thru above date and is subject to change. If Buyer is a current FSP owner maintenance fees may differ from the above amount.

  **Only applicable to Florida Properties. Property taxes are included in maintenance fees on all other properties.

  ***Payoff quotes please call loan services @ 1-888-739-4016

  ****Contract numbers are required to obtain the information from the correct account. * Please allow seven days for the completion of all requests***

 All transfer of ownership requires a $100 processing fee. Please forward documentation to:

 Wyndham Vacation Ownership

 Title Services
 8427 So Park Circle Suite 500
 Orlando FL 32819
 FAX: 407-370-5222