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Process to purchase a SVO unit

luv_maui

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I thought I remember some process to follow to purchase resale a SVO. Would somone please point me to the link
 

DeniseM

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You can buy a resale nearly anywhere, and the process is pretty much the same for any resale. Is there something in particular you are wondering about, like buying on ebay?

FIRST - Click on the ADVICE link in the red bar, and read some of the articles about how to buy on the resale market.

1. Check out the reputation of the ebay seller on TUG - BEFORE bidding.
2. Use the link on ebay to ask the seller all your questions before you bid.
3. If you win the auction, do not pay upfront - ask for the estoppel letter first to verify all the details.
4. If the details do not match - you have the legal right to walk away from the deal with no consequences.
5. Use a reputable closing company to handle all the details - that means checking out the sellers closing company before you bid.

You don't have to buy on ebay - you can also buy in the TUG Marketplace, Redweek, Myresortnetwork, etc.

You can also use a reputable broker - see the ratings forum which is a sub-forum of Buying Selling Renting. That will cost you more, but they will walk you right through the whole process.
 
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vacationtime1

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Starwood uses a "Resale Information Sheet" instead of a true estoppel, although it does contain all of the salient details: season, size, first use year, etc.

Starwood will only release the Resale Information Sheet to an escrow company. My own practice is not to fund the escrow until I have seen it as well as an unsigned copy of the proposed deed to me (it is easier to "fix" a mistake in a deed before it is signed and recorded).
 

luv_maui

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You can buy a resale nearly anywhere, and the process is pretty much the same for any resale. Is there something in particular you are wondering about, like buying on ebay?

FIRST - Click on the ADVICE link in the red bar, and read some of the articles about how to buy on the resale market.

1. Check out the reputation of the ebay seller on TUG - BEFORE bidding.
2. Use the link on ebay to ask the seller all your questions before you bid.
3. If you win the auction, do not pay upfront - ask for the estoppel letter first to verify all the details.
4. If the details do not match - you have the legal right to walk away from the deal with no consequences.
5. Use a reputable closing company to handle all the details - that means checking out the sellers closing company before you bid.

You don't have to buy on ebay - you can also buy in the TUG Marketplace, Redweek, Myresortnetwork, etc.

You can also use a reputable broker - see the ratings forum which is a sub-forum of Buying Selling Renting. That will cost you more, but they will walk you right through the whole process.

1) How exactly do you check out an ebay seller on TUG? Is 100% positive feedback not necessarily safe?

2) is "Timeshare Closing Services" a reputable closing company? What issues should one be aware of or should one altogether avoid ebay auctions with this closing company?

3) so Starwood doesn't use "estoppel" letter but uses a "resale information sheet"?
 

K2Quick

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1) How exactly do you check out an ebay seller on TUG? Is 100% positive feedback not necessarily safe?

Check out the TUG ratings board:
http://tugbbs.com/forums/forumdisplay.php?f=56

I would evaluate an ebay only partially on the ebay feedback rating. A lot of the feedback ratings are distorted because a lot of the bad transactions are completed after the time at which the buyer can leave feedback - hence, only the good feedback can be left. Some sellers also pump up their feedback ratings by buying things on ebay. There are a few ebay sellers (redweeks4less a good example) who have 99% ebay feedback ratings who have horrible TUG ratings. In my personal experience with that seller, I think the TUG rating is closer to the truth.
 

DeniseM

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Many companies are not rated, so you can also search for them on TUG by name - put this in your google search box:

"NAME"site:tugbbs.com

For possible issues to be aware of, read some of the "buying resale" articles on the TUG advice page.

There is a sample Resale Information Sheet in the Starwood Owner Resources Sticky at the top of this forum.
 
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