# Bought my first timeshare! Now what?



## 89MustangGX (Aug 13, 2010)

Hello again,

After a lot of research and what I think was good advice, I felt good about buying my first timeshare...so I went ahead and pulled the trigger.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=370416961827

That's it! A 2BR LO Annual in Tahiti Village in Las Vegas.

I was pretty well satisfied with the info on the resort (even though I have never seen it, I have a friend who bought from the developer and owns there). I was also pretty well satisfied with the info I found through searches on the seller, selling company, and closing company.

I think I did well on the price -- I am glad I found TUG!

So I went through the automated webpage and paid on the 11th. I got an electronically signed contract in my email and an automated confirmation email that payment was recieved.

I also fired off an email to the seller and TCS asking to confirm it was all complete and request for a copy of the estoppel letter (based on research here).

Now is where I start to get a little nervous.

What happens next and when should I expect it to happen?

Do I just recieve info in the USPS mail? Will there be actual signing of documents and mailing/faxing back? Will there be phone calls?

When do I get the actual deed?

When do I recieve info from the resort? Or do I recieve anything from them? Maybe a welcome letter or something?

Can someone please walk me through what I should expect next and calm my nerves a little? I felt pretty confident before, but now I am feeling a little naive and would like some reassurance on this journey. I am admittedly young and this would be only my 2nd property purchase.

Thanks!

Adam


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## terden (Aug 13, 2010)

89MustangGX said:


> Hello again,
> 
> After a lot of research and what I think was good advice, I felt good about buying my first timeshare...so I went ahead and pulled the trigger.
> 
> ...



I've bought 3 timeshares on eBay. Each took a minimum of 6-8 weeks for everything to complete, including deed transfer, registration with the resort, etc. Don't panic. It just takes some time


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## foreverloves (Aug 13, 2010)

I just bought from the same place (same seller on ebay, not the same resort).  I'm still in process, but here's what I can tell you so far:

Paid my fees, received confirmation (via email) that fees were paid.  I asked a few questions after closing, seller was a bit slow to answer, but did answer what I asked.  

Received a letter from Timeshare Closing Services yesterday confirming the escrow was opened and everything was paid and ready.  In fact, they also called me to confirm this as well.  Basically, my deed is being prepared to send to the county recorder. The estimate for this is about 4-6 weeks to record.  Once they record it, I should receive a copy of it, as well as confirmation that the resort has received it and noted me as the new owner. 

I asked the seller to make a reservation for me for next year. I forwarded the information to them (the dates we wanted) and was told it would take about a week to find out if we can get that date.  One question is if we have to prepay our MF in order to get the reservation, and they are supposed to let me know.  

I would expect you to receive a letter from TCS just stating that they have your funds in escrow and are proceeding.  Depending on deed preparation and the time to record, you should be wrapped up in about 2 months or less.  That's what I'm expecting - and if you read his feedback, it seems he tends to close fairly quickly.  

Good luck with your purchase!  We are new owners at Royal Dunes (Hilton Head Island) in a terrific (and pretty long!) Gold season!


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## Conan (Aug 13, 2010)

Your seller gets his inventory from one of those Timeshare Relief-type companies where the same under-informed people that paid thousands to buy their timeshares now pay another $3,500 or so to be rid of them.

Your seller you'll find is 100% honest but only about 85% competent, so be sure to read closely and make sure the deed you get is the property you bought, and the floating week window and maintenance are as advertised and paid to date.  If there's any problem they'll make it right, or if they can't you'll get your money back.


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## kasteer (Aug 13, 2010)

Same here (Daytona Beach resort though)...  Same company, same timeline, same request for a week next year, etc...  Everything seems to be going well so far.  Received the letter saying paperwork was sent to county already.  Just waiting now...



foreverloves said:


> I just bought from the same place (same seller on ebay, not the same resort).  I'm still in process, but here's what I can tell you so far:
> 
> Paid my fees, received confirmation (via email) that fees were paid.  I asked a few questions after closing, seller was a bit slow to answer, but did answer what I asked.
> 
> ...


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## MichaelColey (Aug 13, 2010)

The ones I've bought took closer to 4 weeks.  A lot depends on the turnaround times from the county/state recorder and the resort.  That particular seller is very good about keeping you informed at each step along the way.  The hard part is the waiting.  I know you're probably chomping at the bit to get started.


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## 89MustangGX (Aug 13, 2010)

Thanks for the insight everyone.

I guess I should expect the process to take anywhere from 4-8 weeks.

When should I start seeing paperwork arrive and things like that? Same timeframe or sooner?

Adam


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## SPG900NY (Aug 13, 2010)

You will probably get the paperwork pretty quickly. I also used TimeShare Closing Services and had zero problems. The longest part was once the papers were signed and I was waiting for the resort to issue my deed. I think it took 8 weeks all told, but everytime I requested an update, the folks at TCS got back to me very quickly.

No worries. And congrats!! Wife and I LOVE being timeshare owners! We don't know how we'd ever go back to hotels for vacations.


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## BoaterMike (Aug 14, 2010)

I bought in late spring from the same seller and used the same closing company.  Our closing actually occurred in early June (should have been late May)  but took about 5-6 weeks for the closing company to send to the management company, document processing handled by management company and contracts returned to us.   

I tried to stay on top of things during the process.  For example, it was two weeks from the time that the closing company said it was mailed until it was received by the management company.  (Took the long way from Orlando to Fort Lauderdale).   I also learned that 2010 maintenance fees were not paid, even though we paid them at closing.   A couple of phone calls and a fax easily took care of the matter.  

Be patient, yet closely monitor the process.  Stuff happens.  

Mike


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## RedDogSD (Aug 14, 2010)

You got a great resort at a great price. I used to watch all TV auctions on EBay and $1000 was the minimum they sold for. So, congratulations. I hope you stay there. It is my favorite resort in Vegas. You will soon get a deed that you will notarize, and then it will record and you will be an owner within 6 weeks. Enjoy.


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## foreverloves (Aug 16, 2010)

I received a letter acknowledging my payment to TCS and reporting to me that the docs were being prepared to send to the county for recordation.  The letter stated that I would not receive further information unless I called - until the deed was transferred. It's only been a few weeks (maybe 3?)


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## 89MustangGX (Aug 17, 2010)

It's been about a week since I emailed the seller and TCS looking for confirmation of everything being in place and just needing to process, and also asking for the estoppel letter.

I decided to call, and the seller (I didn't speak with him, I spoke with someone else) seemed nice, said everything was going fine. I then called TCS and they said they mailed the paperwork to me yesterday to sign and notirize. So I was satisfied with that. 

BUT, I forgot to ask about the estoppel letter. Who should I ask for that -- the seller or TCS?

And is the lack of communication typical with these guys or is it indicative of a problem?

Adam


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## BoaterMike (Aug 17, 2010)

89MustangGX said:


> And is the lack of communication typical with these guys or is it indicative of a problem?
> 
> Adam



For the transaction that I recently completed with the same seller and closing company, I initiated about 90% of the communication via email or phone.  I take it that they are dealing with a lot of transactions at one time.

Mike


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## 89MustangGX (Aug 18, 2010)

BoaterMike said:


> For the transaction that I recently completed with the same seller and closing company, I initiated about 90% of the communication via email or phone.  I take it that they are dealing with a lot of transactions at one time.
> 
> Mike



Ok, good to know.

So -- still wondering -- do I request estoppel letter from the seller or the closing company?

Adam


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## theo (Aug 18, 2010)

*My $0.02 worth...*



89MustangGX said:


> So -- still wondering -- do I request estoppel letter from the seller or the closing company?



The closing company may already have obtained an estoppel letter from the resort (...there is really no guarantee nor legal requirement [at least to my knowledge] that they did or do so, however).

The seller would surely not be the best or appropriate entity to ask, since if there are indeed any unpaid fees or related financial issues, the seller would likley be the last entity to willingly volunteer that info to you. 

One potential wrinkle with some (...not all, but certainly many...) eBay purchases is that the mega-sellers and their closing entity are often either very closely affiliated or sometimes even the very same people, just "wearing different hats" for different parts of the transaction. This "relationship" is why you often "inherit" a particular "mandatory" closing entity in many eBay timeshare transactions, with no option to select and use another, third party (... and potentially more objective and thorough) closing entity of your own choice. 

I do not profess to know whether this possibility is the case in your particular instance. Even if it is, that doesn't mean that all is not well or won't go smoothly. It simply means that the "fox" may be administering details of the "henhouse", so some measure of "objectivity" can very well be missing along the way. 

In any case, if you really want an estoppel letter, hound the closing company. They may try to charge you an extra fee for their efforts if they haven't already obtained that info (likely $75 or so), but it's your call as to whether or not you want to demand that estoppel letter or not.


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## 89MustangGX (Aug 18, 2010)

I called the closing company today, and was told they would look into it and see if they had a copy of the estoppel to send me and they would call me back. Much to my surprise, they actually did call me back, but it was to say they did not have a copy on file. They claimed to have verbally verified all info.

I didn't push the issue much, because they do seem to have a reputation for making things right if there is a mistake, and they gaurantee the title is clear, but I was a little put off that they did not offer to get one for me. I could be expecting too much, but I thought it would have been nice.

Anyway, my papers should be here any day now...

Adam


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## lrbarone (Aug 20, 2010)

*Just got my paperwork!*

Hello,  I just got my wydham paperwork last week for my first timeshare, after purchasing from the same seller on e-bay.  Fairfield Glade in Crossville, 126K floating points.  Process was 9 weeks from payment to final paperwork from Wyndham.  I do have a question.....The usage was supposed to begin in 2011, but my Wyndham paperwork says my usage begins 08/09/10, with 41,850 points remaining in 2010.  I could probably go check out the resort with those points, but since it is so close to the end of the year, what would all of the TUGGERS recommend I do with these points?  Would it be too late to convert to maintenance fees?

What do you guys think?


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## foreverloves (Aug 20, 2010)

When did you purchase?  We're using the same seller and closing company.  Got a letter about a week ago saying that they had our info and we were waiting for deeds to be recorded, but haven't heard.  It's only been about 3 1/2 weeks, so I'm not worried yet, but just wondering when we'll see our deed recorded. I know it will take longer for the resort to acknowledge the purchase and us as new owners.  There was no ROFR, so I'm thinking it should go quickly.


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## 89MustangGX (Aug 20, 2010)

Bought on August 10, actually paid on the 11th I believe.

10 days so far.

I got the deed paperwork yesterday -- signed and notarized and mailed back today.

The seller is listed on this paperwork -- can I use that to begin obtaining info from the resort, or do I need to wait for everything to go through first?

Adam


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## laura1957 (Aug 21, 2010)

BoaterMike said:


> For the transaction that I recently completed with the same seller and closing company, I initiated about 90% of the communication via email or phone.  I take it that they are dealing with a lot of transactions at one time.
> 
> Mike



That was my experience also.  Twice I received completely wrong paperwork - once another clients paperwork, and once with my name but the wrong resort!!  Once they supposedly mailed their only copy of something to me - but I never received it.  It miraculously appeared in my mail weeks later 
  Mine took at least 3 1/2 months and I constantly was calling/emailing - but at the end I did receive what I paid for.  Months afterward when I was notified that there was still something missing in the paperwork they took care of it immediately.  That was about 2 - 2 1/2 years ago


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## theo (Aug 21, 2010)

*Account info is generally released ONLY to actual, current  owner...*



89MustangGX said:


> The seller is listed on this paperwork -- can I use that to begin obtaining info from the resort, or do I need to wait for everything to go through first?



Until such time as the resort receives notification of a lawfully completed change in ownership (most likely achieved by resort receipt of a copy of the newly recorded deed from the closing company, if the closing company is on the ball), the resort is not going to tell you much of anything at all about the account or ownership at issue.


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## 89MustangGX (Aug 21, 2010)

Ok, thanks for the additional info.


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## foreverloves (Aug 21, 2010)

89MustangGX said:


> Bought on August 10, actually paid on the 11th I believe.
> 
> 10 days so far.
> 
> ...



I've been longer than this, but thinking it might have to do with it being a South Carolina transaction?  Maybe I can call next week just to find out what the status is.  TCS isn't really forthcoming with info.


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## 89MustangGX (Aug 26, 2010)

Update:

Called TCS today and verified that they recieved my paperwork yesterday. They say they are sending the deed to be recorded at this point and that the process should be about 4 weeks.

Adam


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## Cheryl20772 (Aug 26, 2010)

lrbarone said:


> Hello,  I just got my wydham paperwork last week for my first timeshare, after purchasing from the same seller on e-bay.  Fairfield Glade in Crossville, 126K floating points.  Process was 9 weeks from payment to final paperwork from Wyndham.  I do have a question.....The usage was supposed to begin in 2011, but my Wyndham paperwork says my usage begins 08/09/10, with 41,850 points remaining in 2010.  I could probably go check out the resort with those points, but since it is so close to the end of the year, what would all of the TUGGERS recommend I do with these points?  Would it be too late to convert to maintenance fees?
> 
> What do you guys think?


Congrats on your great new purchase  

Conversion of points to maintenance fees is done during the first 3 months of the use year.  This also requires a transaction fee. Check page 389 in the members directory.


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## 89MustangGX (Sep 8, 2010)

89MustangGX said:


> Update:
> 
> Called TCS today and verified that they recieved my paperwork yesterday. They say they are sending the deed to be recorded at this point and that the process should be about 4 weeks.
> 
> Adam



I called again today to check status and was told they are waiting for the seller's signature on paperwork to come back to them, then they can have the deed recorded.

Based on my last conversation I thought everything was square and the deed was going to be recorded -- now it sounds like a couple weeks later they are waiting for another signature.

Am I going backwards here? Thoughts?

Adam


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## foreverloves (Sep 10, 2010)

That sounds sort of odd compared to what happened with me.  In my case, I heard from TCS after about 3 1/2 weeks with my deed.  I actually knew it was filed before I heard from them because I checked online with the county recorder and found it (and printed it!).  I then contacted TCS and said, "Hey, I have the deed, where's my copy?" and it was sent the following week along with the info that was sent to the resort.  The resort, after over 2 weeks, hadn't done anything with our ownership, so I phoned them and they immediately transferred our ownership to our name and we now have an account with them.  Hooray!

When I saw my deed, it had been prepared using a POA, so the original seller wasn't listed.  VI and TCS had everything all prepared.


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## 89MustangGX (Sep 10, 2010)

Congrats on getting yours through!

I think I'd better call back next week. They definitely got my paperwork over 2 weeks ago and I verified that with them -- why would they have held off on the deed and not known about a signature issue?

Do you think something is wrong?

Adam


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## 89MustangGX (Sep 25, 2010)

I came home yesterday to find my new deed in the mail!

All the info on it looks correct to me too!

So now it's just a matter of the resort actually transferring ownership. I suppose I will give them a call on Monday. They were very responsive to my earlier questions, I'll give them another chance to wow me with their customer service.

Should I expect to get some type of info packet from the resort with rules and regulations and benefits and features and stuff (like some type of new owner packet)? Or do I need to request that? Or is that uncommon and unheard of? I think I would like to have something like that to look over if possible.

Adam


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## DeniseM (Sep 25, 2010)

With a resale, I've never gotten more than a one page "welcome," letter.  If you ask, they might send you some info., but sometimes they tell you to get it from the previous owner.  Do they have a website for owners?


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## MichaelColey (Sep 25, 2010)

DeniseM said:


> With a resale, I've never gotten more than a one page "welcome," letter. If you ask, they might send you some info., but sometimes they tell you to get it from the previous owner.


That's been my experience with my recent purchases.  I've found more information about my resorts here than anywhere else.


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## 89MustangGX (Sep 25, 2010)

DeniseM said:


> With a resale, I've never gotten more than a one page "welcome," letter.  If you ask, they might send you some info., but sometimes they tell you to get it from the previous owner.  Do they have a website for owners?



I will probably call and ask on Monday.

They have a website that you can log in for reservations and paying MFs and presumably more info, but you need an account to get in -- so I haven't been in yet.

Adam


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## pkyorkbeach (Sep 26, 2010)

The resort did not tell me when the transfer occured.  When I called, gave them my name and week I was in the system.  That is how I found out.....


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## DeniseM (Sep 26, 2010)

pkyorkbeach said:


> The resort did not tell me when the transfer occured.  When I called, gave them my name and week I was in the system.  That is how I found out.....



In a few weeks, you will probably get a welcome letter from them, as well.  I don't think they ever call to notify you.


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## talkamotta (Oct 1, 2010)

89MustangGX said:


> Hello again,
> 
> 
> I think I did well on the price -- I am glad I found TUG!
> ...


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## 89MustangGX (Oct 5, 2010)

I agree -- TUG has been a great help and I should become a member.

As an update to my situation, I contacted the resort last week and they reported that they had not recieved/processed the deed. I contacted them again today and got the same. BUT, they indicated that if I sent over a copy of everything they would process it. So I attempted to fax all day and could not get their machine to accept it. I did call and ask about emailing, which was acceptable, so I scanned and emailed copies of everything.

Now more waiting...

Adam


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## 89MustangGX (Oct 8, 2010)

FINALLY!

I went the last mile on this transaction myself by sending in copies of the deed after contacting the resort management company, and they were very quick with processing.

I am officially transferred as of Oct 6. I logged into the website and was able to see all of my info and it's all correct.

Rules and other info are in the mail on the way to me.

Total time start to finish was almost exactly 2 months. Glad it's finally done!

Thanks for all the help and support everyone!

Adam


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## BoaterMike (Oct 8, 2010)

89MustangGX said:


> FINALLY!
> 
> I am officially transferred as of Oct 6. I logged into the website and was able to see all of my info and it's all correct.
> 
> ...



Congrats, Adam, it's a good feeling, isn't it?  Lots of gained in the first purchase, at least I know it was for me. 

Mike


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## 89MustangGX (Oct 25, 2010)

One more chapter to add to this:

After doing the final legwork myself and getting the transfer completed, I just got a letter from TCS. Letter is two parts -- first part is the normal congrats on your purchase deal. The second part, is them wanting me to sign a POA for my voting rights (and maybe other stuff -- who knows?) at the timeshare.

Seriously?

I'm not going to sign this, but I wasn't even expecting it. I hadn't seen this mentioned by anyone else, is this new?

Adam


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## DeniseM (Oct 25, 2010)

No - it's standard with most timeshares.  They want you to designate the board to vote for you.


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## 89MustangGX (Oct 25, 2010)

DeniseM said:


> No - it's standard with most timeshares.  They want you to designate the board to vote for you.



I should make it clear, this isn't the proxy voting for not attenting the meeting (which I recieved from the timeshare itself). This is an actual Power Of Attorney form from TCS, they want me to sign giving my voting rights (and maybe other rights???) to TCS (It actually specifically names a person there).

Adam


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