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The date on an Estoppel

WVBaker

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Granted, I may be the only one who didn't realize the preparation date on a estoppel can come into play but, always check that information contained in same
is still up to date.

It seems during a recent conversation with an escrow and title company, the representative and I were referring to different estoppels for the same unit. When I signed the
agreement of purchase with Redweek, the agent forwarded an estoppel for the unit. Not realizing or noticing that the date of the estoppel was four months prior to my signing.
It was only during a question and answer phone call with the title company was I made aware of this. They had a more recent estoppel which contained different costs and
fees than the one I had.

It was only after several confusing minutes did the individual ask, "what's the date of the estoppel you have". Lo and behold my estoppel was past the six month period
when the information contained in the estoppel was still valid. It seems, according to this title company, an estoppel is only good for six months.

Anyway, always check the date of the estoppel should you request one. Even if it's from a sales agent from a "reputable" company such a Redweek.
 

theo

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It was only after several confusing minutes did the individual ask, "what's the date of the estoppel you have". Lo and behold my estoppel was past the six month period when the information contained in the estoppel was still valid. It seems, according to this title company, an estoppel is only good for six months.

You have certainly offered some very good advice here to always check the date (and the source, I would also add) of any estoppel, but I don't think there is any particular magic associated with the referenced "six months" time period.

Truth to tell, an estoppel is essentially a "status snapshot in time". It may be completely accurate on the date prepared and signed, but could actually become inaccurate mere days later (e.g., if / when a maintenance fee goes unpaid, or a special assessment is suddenly issued, or a week unexpectedly gets "deposited" with an exchange company, instantly changing its' "next available usage" status).

Some "estoppels" are worthless at the very moment they are prepared, such as those which have been "self-generated" (or altered) by a hungry eBay reseller, sometimes basing content on (unverified and possibly incorrect) input from the owner alone.

Tricky waters to navigate sometimes, these timeshare resale matters... ;)
 
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