What can I expect now? Help!

We have just made an offer on a Marriott timeshare and it was accepted by the owner via a realtor that the add was placed by. What happens now? I own timeshare through DVC, but bought direct through them. I have never bought resale and don't know what to expect. What is the process?

Any and all information would be helpful.

K

The process is similar to buying a house - all funds and documents should be handled by a timeshare closing/escrow company. Most sellers have a company they prefer to use - this is negotiable, but should have been discussed during negotiations, rather than after you made an offer.

Don't send any money directly to the seller.

Your next step is to find out what closing/escrow company the seller wants to use. If they don't have one in mind, come back to TUG for recommendations. Closing/escrow will cost you in the neighborhood of $350.

BTW - before you go through with this deal, I highly recommend that you post all the info. here so you can get input from experienced Tuggers on your purchase.

Resort?
Season?
Size of unit?
Your goal in buying this week (how will you use it?)

Some things are different than buying a house, Marriott's involvement!

-Your offer to buy must pass Marriott's right of first refusal (ROFR) so after the offer to buy is accepted, it gets sent to Marriott and they have the right to match your offer. If they do, then Marriott buys the TS and you're out. (Take a week or two)
-If they pass, then you close like a house. BUT it isn't your TS till Marriott acknowledges that they have accepted you as the new owner. This can take 1-3 months ( generally about 1 month)

Hope this helps

If Realtor is Strohman don't buy

Had them under investigation for about a yar for a sham and many oothers had bad fortune also.

To add to what Bill said, the closing company will submit the purchase to Marriott for ROFR, as well.

Thank you for all of your responses. The offer I made is for Week 7 Platinum Plus President's week at Marriott Aruba Surf Club. I am a school teacher, so I can only travel during school breaks. We bought (hopefully) this week with the intention of using it. It is a 2 bedroom lock-off with annual usage.

Does the closing company usually ask for a credit card for 10% deposit? I get nervous using a credit card, but I know it will move things along quicker than waiting for one of my personal checks to be overnighted and clear.

Any other advice would be great. Thanks so much!
K

Every closing company is different - have you contacted them?

Who is the seller?
Who is the closing company?

Is your school holiday always week 7?

Have you looked at a TS calendar to see how week 7 can be slightly different with leap year, etc.?

These are the Sat. check-in dates for week 7 for several years:

16-Feb 2008

14-Feb 2009

13-Feb 2010

12-Feb 2011

18-Feb 2012

16-Feb 2013

15-Feb 2014

14-Feb 2015