# Need some help buying a resale from Redweek



## Soumak (Dec 6, 2022)

Hey Guys,

First time buyer of timeshare. I'm buying a worldmark timeshare through resale at Redweek. I'm buying 20,000 pts with Award Date of October. The contract that I signed with redweek said that I would reimburse the current owner for Oct 2022 as this was already paid.

here is the exact wording:
Special Instructions: Seller has requested an updated Estoppel. Buyer shall receive the points that will be awarded in October, 2022. Buyer to be responsible for the 2022 maintenance fees and taxes. Seller has paid the 2022 fees and taxes and provided proof of payment. Buyer will reimburse Seller for said 2022 fees in the amount of $1,745.51 at closing.

NOTE: Seller must continue to keep the monthly fees current with WorldMark until the transfer of ownership has been completed. Buyer will reimburse Seller for any 2023 fees paid. Seller must provide proof of payment in order to be reimbursed for the 2023 fees.

however, i got the contract from worldmark and this is what i'm seeing:




I'm not understanding why there is a Remaining Balance and the annual billing is 01/01/2023 yet october 2022 and october 2023 is already paid.

Maybe i'm making a big deal about nothing but just want to understand.


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## markb53 (Dec 7, 2022)

Looks like the seller is asking you to reimburse him/her for all of last year’s maintenance dues and all maintenance dues for this year until the sale closes and the account is transferred to your name

How many credits are currently available without borrowing. I would hope that the 20000 credits from last year are still available since you are being asked to pay for them. 

How much is the seller asking in payment other then the reimbursement


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## Soumak (Dec 7, 2022)

markb53 said:


> Looks like the seller is asking you to reimburse him/her for all of last year’s maintenance dues and all maintenance dues for this year until the sale closes and the account is transferred to your name
> 
> How many credits are currently available without borrowing. I would hope that the 20000 credits from last year are still available since you are being asked to pay for them.
> 
> How much is the seller asking in payment other then the reimbursement


Hey Mark. I paid $4700 + redweek fees + title fees ect for 20000pts awarded in October. Seller is asking for Oct 2022 - Oct 2023 fees and taxes and seller will not use any credits. currently there is nothing due for the principal and 40,000 credits are available (see image below).

I'm thinking I just need to ask Redweek for proof of payment for Oct 2022 - Oct 2023 and verify that did indeed take place and that my next due is Oct 2023.


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## markb53 (Dec 7, 2022)

Soumak said:


> Hey Mark. I paid $4700 + redweek fees + title fees ect for 20000pts awarded in October. Seller is asking for Oct 2022 - Oct 2023 fees and taxes and seller will not use any credits. currently there is nothing due for the principal and 40,000 credits are available (see image below).
> 
> I'm thinking I just need to ask Redweek for proof of payment for Oct 2022 - Oct 2023 and verify that did indeed take place and that my next due is Oct 2023.
> 
> View attachment 69830


According to that document there is nothing overdue so last years Membership Dues must have been paid. It looks like the seller is paying monthly and a payment should have been made on 12/1/2022. As long as you are comfortable with what what you are paying then everything looks good to me. $4700.00 for 20,000 credits seems like a reasonable price for a Redweek sale.


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## rickandcindy23 (Dec 7, 2022)

Closing and title fees should not be all that much.  What is Redweek charging?  This is not the same as a deed.


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## Soumak (Dec 7, 2022)

it wasn't too bad. i think 


rickandcindy23 said:


> Closing and title fees should not be all that much.  What is Redweek charging?  This is not the same as a deed.


not too bad. it was around $700
$275 deed closing and transfer
$99 admin fee
$299 resort transfer fee
$25 estoppel fee


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## samara64 (Dec 7, 2022)

You will be paying the monthly fee to Worldmark. Tell the seller that you will take the monthly MF once account is in your name.

I never see buyer paying MF to seller in advance unless the seller has prepaid in advance.


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## markb53 (Dec 8, 2022)

samara64 said:


> You will be paying the monthly fee to Worldmark. Tell the seller that you will take the monthly MF once account is in your name.
> 
> I never see buyer paying MF to seller in advance unless the seller has prepaid in advance.


My understanding of the sales contract the buyer is getting 20,000 credits that the seller received on 10/1/21 that will expire on 10/31/23. These have been fully paid for by the seller and the seller is asking the buyer to reimburse last year membership dues since the buyer will get use of those credits. I suppose the seller could have just raised the price and included the credits. I have seen fully loaded contracts sell for $.40 a credit all in. Which in this case would be $8000.00


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## jhoneybairstow (Dec 9, 2022)

hello, I need also some information regarding buying a resale form Red-week or should I another platform.​


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## Soumak (Dec 9, 2022)

jhoneybairstow said:


> hello, I need also some information regarding buying a resale form Red-week or should I another platform.​


Redweek is fine. its my first time buying so i'm just new to all the terminology and payments dates/times. just don't make assumptions and ask questions and you will be fine.


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