Redweek Full Service is the WORST!

[HeidingOut]

I've complained about this before. I'm sure that posts can be found here. But, I found a great deal on a timeshare I wanted to purchase last week from Redweek. I immediately reached out and requested Estoppel and gave them a number I was comfortable with for the purchase. Received a reply back fairly quickly asking if I was a professional realtor. I said no but if they could please send the Estoppel to confirm the details so I could begin the transaction. The realtor replied and asked if she could proceed with a formal offer, and she listed all of the additional fees. Again, I said sure. If the Estoppel matches what you have written in the listing, please consider it a formal offer (but on approval of Estoppel). Still nothing.

The realtor just emailed me to tell me I can make a backup offer but that the timeshare is under contract. I realize this worked to the seller's benefit (THIS TIME). But, Redweek should have a copy of Estoppel in hand before listing. This is just standard par for the course. I don't understand how a company that specializes in timeshare sales can be this incompetent when it comes to actually selling timeshares. When I emailed the realtor back and complained about how unprofessional the transaction was from my perspective. And, I shouldn't have to ask for Estoppel 3 times without ever getting a copy over the course of 7 days. She just apologized and said oops my mistake! Let me know how else I can help you.

I urge sellers to handle their own transactions, or at least, go with a company that has a clue. I assume this is why others have stepped in with competing websites to fill this gap. But, I'm still utterly shocked at Redweek's continued incompetence.

 

[TheTimeTraveler]

Not sure it is incompetence or not. I would have structured an offer subject to "review of Estoppel".

Language such as this avoids sending the Estoppel out to anyone unless there is a bonafide offer on the table.





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[dioxide45]

An estoppel generally isn't available or provided before an offer is made. You make an offer, find a closing company and the closing company obtains the estoppel. If the estoppel doesn't match the contract, then the contract can be cancelled and all moneys refunded.

 

[vacationtime1]

Not sure it is incompetence or not. I would have structured an offer subject to "review of Estoppel".

Language such as this avoids sending the Estoppel out to anyone unless there is a bonafide offer on the table.





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The point is that Redweek scared away a potential buyer.

Not a good thing for the seller who hired them.

 

[dioxide45]

The point is that Redweek scared away a potential buyer.

Not a good thing for the seller who hired them.

I think the buyer had incorrect expectations.

 

[vacationtime1]

I think the buyer had incorrect expectations.

Why is that? What makes the potential buyer's request "incorrect"?

It may not be how you would do this (or how I do this either), but it is what this potential buyer wanted. The request was not unreasonable, and by not answering it, the potential buyer walked.

 

[dioxide45]

Why is that? What makes the potential buyer's request "incorrect"?

It may not be how you would do this (or how I do this either), but it is what this potential buyer wanted. The request was not unreasonable, and by not answering it, the potential buyer walked.

See post #3

The buyer lost out because they didn’t understand how most timeshare transactions work.

Your don’t do an inspection on a house before submitting an offer.

 

[vacationtime1]

See post #3

The buyer lost out because they didn’t understand how most timeshare transactions work.

Your don’t do an inspection on a house before submitting an offer.

You don't get to quote yourself as an authority. See my post #6 which is equally valid or invalid.

I have always structured my own offers as you describe, but I don't claim to have a monopoly on the correct procedure.

The bottom line is that Redweek scared away a potential buyer when they could have easily answered his request.

 

[dioxide45]

You don't get to quote yourself as an authority. See my post #6 which is equally valid or invalid.

I have always structured my own offers as you describe, but I don't claim to have a monopoly on the correct procedure.

The bottom line is that Redweek scared away a potential buyer when they could have easily answered his request.

Redweek doesn’t have the estoppel. They don’t request it prior to listing. They don’t even get it for verified listings. As an owner selling my week I would not want the estoppel for my week to be sent to anyone who asks for it.

 

[dioxide45]

I’ll also add that providing the estoppel ahead of time can allow the buyer to circumvent Redweek and go directly to the seller with an offer.

The op also urges sellers to handle their own transactions. I have yet to see a situation where you would get an estoppel ahead of making an offer on a DIY listing.

 

[Venter]

If I may interject with my little knowledge about the process.

I thought that it was always reasonable to ask for the estoppel to confirm that all the details in the add was correct. Especially on Ebay where I don't want to start a process rife with errors and long processing times where you can be held hostage. The few times I bought I asked for an estoppel before starting the buying process and sending any money. I would not want to go through the hassle of starting the transfer process and finding out the details are wrong and then having to wait to get my money back. Most of the times the sensitive owner information was redacted from the estoppels I received. I wonder how Redweek verified the information was correct and how solid that information is. I always thought an estoppel was the gold standard in verifying a deed.

Maybe in this case I would have made an offer without the estoppel, but would definitely ask for one before sending any money and starting the process if my offer was accepted. Again, I would rather walk away than deal with some of the pitfalls later.

From what I gather from reading posts here on tugg resorts now require a fee(some of them large) to provide an estoppel. If you are motivated to sell it should therefore be easy to acquire and then send a copy to prospective buyers. Agents should be able to do the same as I have found in the past.

 

[The Colorado Kid]

I feel like an estoppel is the Carfax of a timeshare resale purchase

 

[vacationtime1]

Redweek doesn’t have the estoppel. They don’t request it prior to listing. They don’t even get it for verified listings. As an owner selling my week I would not want the estoppel for my week to be sent to anyone who asks for it.

I feel like an estoppel is the Carfax of a timeshare resale purchase

If Redweek doesn't have the estoppel, their "verification" process on sales listings is a total joke.

 

[dioxide45]

If I may interject with my little knowledge about the process.

I thought that it was always reasonable to ask for the estoppel to confirm that all the details in the add was correct. Especially on Ebay where I don't want to start a process rife with errors and long processing times where you can be held hostage. The few times I bought I asked for an estoppel before starting the buying process and sending any money. I would not want to go through the hassle of starting the transfer process and finding out the details are wrong and then having to wait to get my money back. Most of the times the sensitive owner information was redacted from the estoppels I received. I wonder how Redweek verified the information was correct and how solid that information is. I always thought an estoppel was the gold standard in verifying a deed.

Maybe in this case I would have made an offer without the estoppel, but would definitely ask for one before sending any money and starting the process if my offer was accepted. Again, I would rather walk away than deal with some of the pitfalls later.

From what I gather from reading posts here on tugg resorts now require a fee(some of them large) to provide an estoppel. If you are motivated to sell it should therefore be easy to acquire and then send a copy to prospective buyers. Agents should be able to do the same as I have found in the past.

Estoppels for ebay listings seems to be different. In most cases the person listing is also doing the closing. Or they have a closely related entity doing the closing. So they have already requested an estoppel. I don't know how easily an owner can request an estoppel for their timeshare week. I suppose it happens, but isn't something an owner would need to verify a listing. The deed is in fact more of a gold standard than an estoppel as timeshare companies have made mistakes on estoppels.

As long as you are using a trusted closing company with escrow, there is no issue with sending money prior to seeing the estoppel.

 

[dioxide45]

If Redweek doesn't have the estoppel, their "verification" process on sales listings is a total joke.

They can, and do, verify with a copy of the deed.

 

[vacationtime1]

They can, and do, verify with a copy of the deed.

That doesn't confirm that MF's are paid, that there is no loan, etc. I understand that there will be an estoppel during the escrow period (if demanded), but they are offering no more protection (or "verification") to a buyer than an eBay seller doing in-house closings. Caveat emptor.

Added: given that the eBay seller likely has the deed also

 

[dioxide45]

That doesn't confirm that MF's are paid, that there is no loan, etc. I understand that there will be an estoppel during the escrow period (if demanded), but they are offering no more protection (or "verification") to a buyer than an eBay seller doing in-house closings. Caveat emptor.

Added: given that the eBay seller likely has the deed also

Verification is just verifying that the owner owns what they are trying to sell or rent. It is up to the closing company to determine if there are past due fees. If there are, they can collect them as part of the escrow process from the seller in order to close and complete the transfer.

 

[rickandcindy23]

I would guess that RW is very overwhelmed and has way too much business on the resale end of things. What a shame because they could do so much better. If hiring more people fixes things, then good. If the current number of people is enough, then I would say they are incompetent.

It's not tough to request an estoppel, except places like Wyndham charge $175 per estoppel.

 

[HeidingOut]

I think the buyer had incorrect expectations.

Well, I've purchased multiple timeshares over a decade. I've always received a copy of estoppel in the first 24 hours. Maybe I am a newbie. The point is that the buyer requested a document and it was an official offer pending approval of Estoppel. I shouldn't have to request it 3 times.

 

[CalGalTraveler]

The OPs expectation may be a result of the system she bought from in the past. It is not wrong, it is just different.

MVC/Vistana provide Estoppels for free. Hilton Grand Vacations charges $79 (If I recall correctly) for an estoppel. It is part of the ROFR process. It sounds like Wyndham is similar (and more expensive $175 - yikes!) than HGVC. It prob. won't be long until MVC charges.

For HGVC, you cannot run ROFR without paying the estoppel fee twice if you have one available upfront because the processes are intertwined. Maybe they won't provide an estoppel unless you can show a sales contract - who knows? As DIY we wouldn't have an estoppel to give without paying extra fees so you should have a bone fide contract in place with "subject to review of estoppel" to initiate the process.

Redweek would be in the same position.

What I have seen brokers do and I have done DIY prior to estoppel is to provide a screenshot from the portal with the property information and our contract and name blacked out. Not perfect but it puts the sale in the right direction.

As a seller, I believe the lack of responsiveness by Redweek full service to an offer presented by the OP is of greater concern. However if I didn't want to do DIY, Redweek is the only game in town unless you want to pay a small fortune to a broker.

 

[CalGalTraveler]

BTW..DIY is great and very easy if you use LT Transfers or Resort Closings since they handle all the paperwork. However with all of the scare messages on buying Timeshares and scams. some new resale buyers opt for a broker assisted sale to avoid being scammed and may be afraid to do DIY.

TUGers should promote that DIY is not risky to buyers as long as you use a 3rd party like LT for escrow transfers.

However until buyers hear this message and are less nervous, I would much prefer Redweek Full Service - delays and all - over $1500 broker minimum commission to attract nervous buyers. If you have a $6000 property to sell that's a 26% commission. And the broker promotes your listing in the same places you can DIY such as Redweek, TUG etc. and uses a third party closing company - same as DIY so the value is limited unless you have a difficult to sell deed.