Newbie with estoppel question

[Xpat]

I am new to TUG and have been learning a lot reading on this forum. I'm about to buy resale but have some doubts on the estoppel that I've received from the agent. I have asked for an estoppel and they have supplied me with an "estoppel request form" which they say they sent to Wyndham, was completed by Wyndham and sent back to them. There is no Wyndham stamp or signature on the document.

This seems unusual to me as I thought all Wyndham/Worldmark estoppels are provided via a "Vacation Ownership Interest Details" form. I received such a form in a recent Worldmark transaction with a different agent. I called Wyndham to verify this and they confirmed that estoppels are only provided by Wyndham using that form.

Am I being misled and should I absolutely insist on the Wyndham form? Thanks in advance for your help.

 

[vacationhopeful]

There are a TON of Wyndham resales on the secondary market. Unless, you think you can NEVER match this "deal" again, request it on the correct form -- remember, Wyndham Vacations is not the "same" company as Worldmark, but check the addresses and let your gut answer your question.

I have brought many items from the "big" timeshare re-sellers. Most are not a surprise; one TS, I totally refused, when I read the buyers contract --- I never pay until I get the written contract/paperwork.

 

[Roger830]

It seems unlikely that a large company with sophisticated computer systems would fill in someone elses form. It should have the account number. You could call Wyndham and ask them to verify the info.

 

[Bigrob]

It seems unlikely that a large company with sophisticated computer systems would fill in someone elses form. It should have the account number. You could call Wyndham and ask them to verify the info.

Wyndham will not verify the info to a 3rd party.

 

[Roger830]

Wyndham will not verify the info to a 3rd party.

I should have known better.

I called last week inquiring about the progress on my closing. I had the deed for 3 weeks. They don't have my name anywhere and when I gave them the number on the estoppel it didn't help. My estoppel copy showed Dec fee overdue, I asked if MF was up to date. "We can't give you that info," was the reply.

Wyndham has nice resorts, but it reflects poorly on them their minimal support for resales.

 

[Vacationfuntips]

Wyndham Estoppel Letter - Example

The SELLER needs to request the Estoppel letter from Wyndham. It comes on Wyndham letterhead (see below for an example).


(Logo) WYNDHAM Vacation Resorts

Vacation Ownership Interest Details:

The information on this form is current as of: (Date) xx/xx/xxxx

Information regarding your account with Wyndham Vacation Resorts, Inc., was requested by owner.

Owner Information:

Contract number: xxxxxxxxxxxx
​

Account Holder: Owner Name

Your Ownership Information:

Your vacation ownership interest consists of xxx,xxx points in Wyndham (property name). This is a Annual or Biannual ownership interest and is allocated xxx,xxx points for Each year (s). You currently have xxx,xxx CLUBWYNDHAM Plus points available to use during the current use year. The use year for this contract ends on (Date) XX/XX; If your buyer is an existing CLUBWYNDHAM Plus owner the use year and this account will be adjusted to the existing membership.

Your Loan Information:

There is no balance on your account

Your CLUB WYNDHAM Plus Assessment Information:

Your annual/biannual ClubWYNDHAM Assessment Fee payment amount is $xxx.00. Currently, the CLUB WYNDHAM Plus due is $0.00 and the next due date is (Date) xx/xx/xxxx. Your buyer's assessment rate may vary from the disclosed amount based upon their overall ownership interest within Club Wyndham or existing club enrollments.

How to Transfer with Wyndham:

A deed for your ownership interest has been recorded. This deed is on file with the county of __________. If you need a copy of the deed, please contact the local county recorder's office. In the event you wish to transfer ownership interest and you have identified a buyer, you will need to have a new deed prepared and recorded in the county where the property is located. Once completed, to update the transfer in Wyndham's records, please remit a copy of the newly recorded deed along with a processing fee of $299.00, payable to Wyndham Vacation Resorts. Address all correspondence to: Wyndham Vacation Resorts, Inc., Attn: Title Services, 6277 Sea Harbor Drive, Orlando, FL 32821.


Cynthia T.

 

[Xpat]

Thanks for your replies. Wyndham confirmed the estoppel is always in the format described by Vacationfuntips, and that it is only provided to the seller, even if the seller has given POA to an agent. This was inconsistent with what the agent was telling me so I decided to not go ahead with the transaction due to refusal to provide the right form.

 

[Roger830]

Thanks for your replies. Wyndham confirmed the estoppel is always in the format described by Vacationfuntips, and that it is only provided to the seller, even if the seller has given POA to an agent. This was inconsistent with what the agent was telling me so I decided to not go ahead with the transaction due to refusal to provide the right form.

Thanks for posting that info.

I have a deal inprocess with an estoppel dated Dec 5. It's comforting to know that the seller is active on the other end. He has more leverage with Whyndam then me to push the closing.

 

[Bigrob]

I should have known better.

I called last week inquiring about the progress on my closing. I had the deed for 3 weeks. They don't have my name anywhere and when I gave them the number on the estoppel it didn't help. My estoppel copy showed Dec fee overdue, I asked if MF was up to date. "We can't give you that info," was the reply.

Wyndham has nice resorts, but it reflects poorly on them their minimal support for resales.

I have twice had to go back to sellers to get money from them because Wyndham refunded the maintenance fee payments that kept the (transferred timeshares) current to them, then hit me with back maintenance fees. Sometimes I don't know what Wyndham is doing.

 

[Vacationfuntips]

For my last purchase, I used my estoppel letter when I called Wyndham because I was billed for 1 maintenance fee that I was not expecting. Wyndham made an error and double billed the monthly maintenance fee.

I had my estoppel letter in hand, with the date that payments were current until. Wyndham was able to verify. They had the document in their system - since it was requested by the seller. After a call over to Wyndham, I received a credit back on my next credit card statement that I had set up with auto pay (which saves me the $8 billing statement fee per month and shows that I make timely payments - no late fees ever!).

Everything turned out in the end perfectly! Wyndham could not dispute the maintenance fees that were already paid by the seller in advance. I received a credit card refund for the money owed back to me with the double billing.

I was told from the Wyndham agent that it gets confusing sometimes when owners have more that one Wyndham timeshare ownership in their timeshare portfolio.

Mistakes do happen, so have something in writing to help protect yourself. An estoppel letter can help with that!

Cynthia T.