Offer accepted...now what?

[Hokie4Life]

We made an offer on a timeshare and it was accepted. We've received the purchase contract from the seller's realtor. There were a few mistakes in the document that I've communicated to them. Besides correcting mistakes, what should our next steps be? Are there any "gotchas" that we should look out for? We're nervous yet excited about this purchase.

Thanks in advance.

 

[vacationtime1]

Two essentials:

1. Get an estoppel -- a document generated by the timeshare (NOT the seller) -- telling you what unit, what season, whether MF's are current, etc. This is the document that verifies the sellers' representations about what you are actually going to get. The escrow/transfer agent can get this for you (it will cost $50-100 and is absolutely worth it).

2. An independent escrow company. The seller's realtor may have a preference and they may be okay, but if in doubt, it's your money, you are probably paying the closing costs, and you should be able to choose the transfer agent. LT Transfers has an excellent reputation on this board (I have never used them).

 

[Hokie4Life]

Well, we hit a snag. The seller's realtor misread my original offer email. The difference is around $100 so the seller's agent has to go back to the owners with our actual offer. Kind of annoyed but still hoping things work out.

 

[slip]

Would you like to say what you are purchasing? That may bring up more specific questions so others may help more.

 

[taterhed]

Well, we hit a snag. The seller's realtor misread my original offer email. The difference is around $100 so the seller's agent has to go back to the owners with our actual offer. Kind of annoyed but still hoping things work out.

well, if it's a $10,000 timeshare then it's silly to argue, if it's $100 timeshare then you do have a problem.

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[taterhed]

"I'll take wastegate for $500, Alex... ".

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[bogey21]

Over the years I probably bought (and later disposed of) 35-40 Weeks. Never once did I ask for an estoppel. I did my own due diligence and never once got burned. Why no estopel? I always thought they were superficial. Maybe I was naive. Maybe things have changed and it is not so easy anymore...

George