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Buying Resale Question

pricecb1

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I’m looking and in conversation with someone on marketplace about buying Wyndham contract resale. I’ve asked about the estoppel but the response was that they did not have that but had a deed which was forwarded to me. Not sure what this means to me and not sure where to go from here. Any suggestions to continue conversation? I’m looking at points addition to add to my existing two contracts. Would this new one be combined and give. The same use date? Thanks for any input for buying resale Wyndham points.
 

Rolltydr

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I’m purchasing my first resale contracts just as you are looking to. I would not pursue a contract without first seeing the estoppel. The estoppel is a document prepared by Wyndham that shows if the maintenance fees are up-to-date and if there are any outstanding loans on the properties. The current owner will need to request the estoppel from the resort and that is a routine item. It should only take a few days for the owner to receive it and then send it to you. If they aren’t willing to do that, I would not do business with them.


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dgalati

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LT Transfers will not start closing without the Estoppel. I also will not buy without seeing the estoppel or ownership letter.
 

VanX

TUG Review Crew: Veteran
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Manage your sequence of events by requiring a review of the estoppel before offering.

Avoid giving an accepted offer first and then having to address the estoppel gaps after.

Remember you shouldn’t buy a car if you can’t at least see it first.

Some sellers are slow to disclose or require an offer and deposit up front. That’s not a great position to be in as a potential purchaser.
 
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