I got my requal deal written into my developer purchase agreement
David;
It's not that SVO would backstab you BUT they would hold you to the contract and since there are different contracts (1-developer purchase, 2- Four docs for Requal, and 3-Explorer) they do NOT relate to each other. See what I mean? Each is a separate deal. They are not tied together by one contract so SVO will hold you to each agreement individually. This is not a back stab but it is a bunch of NONRELATED contracts.....as they may see it.
DUKE
Given the lack of uniformity in info I received from various SVN salesfolks on my requal attempt, when I finally requalified my SDO with a developer purchase, I was very concerned that I would still be obligated for my developer purchase even if SVO corporate elected to not honor my salesperson’s requal promises. After all, I wouldn’t have purchased my developer unit if SVO hadn’t promised to also requal my SDO.
The boiler-plate language in the developer purchase paperwork is even more onerous on this subject:
Sec. 5(d) Representations, Warranties and Covenants
“You understand and acknowledge that no salesperson, broker or other person has any authority whatsoever to make any representation, agreement or warranty, express or implied, for Us, except those expressly set forth in writing in this Agreement and the documents named in Paragraph 4.”
With language like this in the developer purchase, even if they would have concurrently given me the four requal documents to sign (which they didn’t), I still would have been worried. I bought my developer purchase on the express condition that SVO requalify my SDO property, and I wanted that condition expressly stated in my developer purchase agreement. That way, if SVO didn’t requalify my SDO (or did but at a different StarOption value than agreed), I would be relieved of my obligations under the developer purchase agreement and could just walk away from the deal.
Accordingly, I hand wrote in these terms in my developer purchase document. The exact details are set forth in post #36 of
Duke's sticky.
SVO originally balked at my hand written modifications, and even sent me new purchase docs to sign, but (after the rescission period in my self-modified purchase documents had expired, but before the rescission period of my second non-modified documents had even started), they signed my revised agreement and I was good to go.
With SVO’s express clause that says SVN isn’t obligated to do anything outside of what is written in this purchase agreement, I would never, ever, ever, trust anything SVN salesfolks say unless it was expressly in writing IN THE ACTUAL DEVELOPER PURCHASE DOCUMENT.
I was able to add language to my developer purchase agreement that I felt was needed to close my combined requal/developer purchase deal. Maybe I just got lucky, but it’s what I needed to assure myself, and SVO eventually bought off on it – in writing.
Good Luck,
-nodge
the time timeshares!
