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Timeline/Documents Needed to Transfer a Property with HGVC

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Does anyone know what documents HGVC needs and a general knowledge of how the timeline runs for a transfer to be conducted and ultimately closed.
First, what documents are needed?
Second, once they receive the transfer check, should the deal be done or do they at that time typically need more documents? If so, what?
 
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Thanks so much for taking the time to respond. May I ask, did you buy privately or via auction?
Your information is impressively organized!
PS Cute Kitty, tho s/he could be scary if perspectively that size.
 

Nowaker

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Location
Wilson County, Texas
Resorts Owned
HGVC: 41,520 points - Coylumbridge, Flamingo, Elara, Trump, 2x Boulevard
First one - via timesharenation.com using a closing company provided by them (don't remember the name)

Remaining three - privately using LT Transfers.
 

tpdgfmt

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Does anyone know what documents HGVC needs and a general knowledge of how the timeline runs for a transfer to be conducted and ultimately closed.
First, what documents are needed?
Second, once they receive the transfer check, should the deal be done or do they at that time typically need more documents? If so, what?
In order to transfer ownership of a week from a seller to a buyer, the seller needs to sign and deliver a deed to the buyer. The buyer needs to record the deed with the county office which records deeds. For a Las Vegas timeshare week, this would be the Clark County Recorder. If the timeshare week is for a week located at Sanibel or Captiva Islands, Florida, the deed would be recorded at the office of the Lee County Clerk of Courts office. These are examples. There are HGVC timeshares in a lot of different counties in New York, Florida, Hawaii, etc., so the buyer needs to determine this based on the particular county. Each of these offices has its own requirements and fees which need to be satisfied in order to record the deed.

In order to get to the actual transfer of ownership (signing, delivering and recording a deed), most people take a lot of other steps. Normally the transaction begins with a buy-sell agreement signed by the seller and buyer. This agreement sets forth the terms and conditions of the sale (the week or weeks being sold and purchased, price, closing date, type of deed, terms relating to closing, title insurance, etc.). A buy-sell agreement is not legally necessary, but most people would be foolish not to have one. In the case of HGVC-built resorts, HGVC normally has a right of first refusal (ROFR), so HGVC needs to be notified before the transaction goes very far to determine if HGVC wants to exercise its ROFR. I assume there is a form used for this notification, but it has been so long since I purchased one of these weeks that I do not recall if there is or there isn't. I believe HGVC has a very good person named Xiomarra Colon in its Orlando office who is probably the person to ask about the specifics of ROFR. In the case of affiliate resorts, there is no ROFR.

Once the parties have a signed buy-sell agreement which does not violate HGVC's ROFR, the parties need to schedule a closing. A closing is simply the place, date and time where the purchase price is paid and the deed is exchanged. Last year I closed a purchase of a week on Captiva Island by driving to Marco Island, where the seller lived, meeting him at a Wells Fargo Bank on the island, obtaining a cashier's check for the purchase price, handing it to the seller, and obtaining his signed, notarized deed (which I had prepared for his signature and which a bank officer notarized for him). I also prepared a buy-sell agreement, but the buyer never got around to signing it. The transaction happened so fast that neither of us really cared as long as he received my money and I received his signed, notarized deed. It was simple and didn't cost anything beyond the actual purchase price and the cost of obtaining a cashier's check. However, it is not a good idea for most people to close one of these transactions in this manner. I am a lawyer and believe I know enough to protect myself in many situations. For most of you, handling one of these transactions is kind of like performing surgery on yourself. If you haven't been educated and trained to perform a particular surgery, how good would your surgery be, and how much risk do you want to take?

There are many ways to make honest mistakes on deeds that cause problems at the time or years later. If a mistake is made on a deed, it can take lots of work and expense to get it corrected. Further, there are many ways for fraud to occur in one of these transactions. Most HGVC owners are honest, but not all are. I once purchased a week on Sanibel Island from an attorney who had recorded a deed in his name, except his middle initial was different from his real middle initial. I would never have figured that out by myself. I was lucky to have been forced to have the transaction closed at a title company, and the title company, Wilkinson Title in Fort Myers, Florida, found this discrepancy. It also found that he owed the IRS large sums of money, and IRS liens had been filed in the state where he lived. I'm not so sure the IRS lien would have affected my ownership, because I do not believe its lien had been recorded in Lee County, Florida, where the timeshare week was located. But I am glad I did not have to find out the hard way. The title company wanted the IRS to consent to the transaction and release its lien. It would not (and had no obligation to) release the lien unless it consented to the transaction and received the net proceeds. The attorney/seller protested and threatened to back out of the transaction, but ultimately, after months had gone by, he did not do so. The title company performed all of the work necessary for me to get clear title, but the transaction took a long time to close, something like 8 or 9 months. I actually purchased two adjoining weeks in the same unit from two separate sellers. The buy-sell agreements made closing of each week conditioned upon closing of the other week, because I only wanted the weeks if I could buy both. The sellers of the other week eventually became tired of waiting and said they would back out if I didn't complete their transaction. They didn't technically have the right to do that, but I understood how they felt, didn't want to argue, and closed on the purchase from them. The IRS had to be contacted, forms had to be filled out, and then a long time passed before I was told the IRS had consented to the transaction with the attorney and would release its lien.

Aside from this, it is a known fact that cashier's checks can be falsely prepared and forged using the great printers that exist today, bank wires can be faked, and there are probably too many other ways to commit fraud that only a title company can guard against. Further, never assume that because an attorney is involved, the transaction will be handled properly unless the attorney is representing you. And frankly, ordinarily attorneys are too expensive for this type of transaction. So the ordinary buyer and seller should have a title company handle closing and provide title insurance.

The title company will do its best to have a closing when you want it, but most of them have been so busy with the recent real estate boom that they may not be able to handle the transaction as quickly as you would like. And there can be complications, as my Sanibel transaction described above shows. Hopefully, those will not happen very often. But your closing date might be affected by the title company's schedule. The title company may have other requirements. You are normally best served by a title company with an office in the county where the timeshare week is located and which wants to handle timeshare transactions. The title company needs to research county records to determine what exceptions to place in the title policy, the deed needs to be recorded in that county, and possibly other forms and fees need to be filed and paid in that county. You can hire a title company elsewhere, but the likelihood is that a title company from another county (which might be in another state) will probably have to contract with a title company where the timeshare week is located to perform some of what is necessary. Having more than one title company involved seems like a situation which lends itself to greater fees.

Timeshare buyers and sellers tend to live a long way from each other. This can be in different states or even in different countries. Sometimes they don't even speak, read or write the same language. The more of these differences that exist, the longer the transaction may take. I'm lucky to be able to speak, read and write in English, which is the language used for HGVC transactions in the US. If I were Japanese, I guess I would have to be pretty trusting. I can certainly understand why a transaction might take longer for them than for me.

Once you have a deed recorded, HGVC and the resort need to be notified of the transaction so that they know the buyer is now the owner. They are going to want to bill the buyer for maintenance fees and taxes in the future, and the seller would not be very happy to continue receiving bills for these after the transaction has closed. I believe if HGVC manages a resort, only HGVC needs to be notified. For the affiliate resorts not managed by HGVC, the resort itself or its management company needs to be notified. I believe HGVC has an Inventory Activation Agreement which takes care of this (along with a copy of the recorded deed) for resorts where HGVC is the management company. You will have to check with affiliate resorts that are not managed by HGVC to determine how to notify them. To notify HGVC, I believe the activation agreement and copy of the recorded deed should be sent to Ms. Colon or other appropriate person at HGVC. This can normally be done by mail, email or fax. There may also be a fee to do this. It may take HGVC a couple of days or (not normally) up to a couple of months to process this, depending on the work load and whether there are any complications.

Finally, if an affiliate resort is involved, placing the week into the Club is not mandatory, but you may want to do so. This is done via the Inventory Activation Agreement, mentioned above for most resorts, and payment of a fee to HGVC. I am mentioning this because owners at affiliate resorts do not have to be Club members or have their weeks in the Club, but those at affiliate resorts managed by HGVC need to notify HGVC of their ownership because HGVC is the resort manager. If HGVC is not the resort manager, then HGVC only needs to be notified if the new owner wants the week to be in his or her Club account.

My description above attempts to describe three simple actions that have to be taken, but after a person has read all of this, it may not seem so simple. The simple steps are (1) record a signed, notarized deed; (2) notify the resort manager of the change in ownership, which usually is HGVC; and (3) notify HGVC to place the week into the buyer's Club account. There are lots of partial steps and potential problems along the way which make this longer and more complicated than any of us wishes, but usually exist for a reason. My Captiva purchase described above was extremely simple and took several days, but it is too risky and just not feasible for most people, particularly when they may live across the country from each other, or even in different countries. My Sanibel transaction describes one problem which could have been serious if a title company had not been involved and caused many months of delays. I had to be patient for it to work out. Eventually it did work out, and I am glad I was patient because I have enjoyed owning those consecutive weeks in the same unit.
 
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In order to transfer ownership of a week from a seller to a buyer, the seller needs to sign and deliver a deed to the buyer. The buyer needs to record the deed with the county office which records deeds. For a Las Vegas timeshare week, this would be the Clark County Recorder. If the timeshare week is for a week located at Sanibel or Captiva Islands, Florida, the deed would be recorded at the office of the Lee County Clerk of Courts office. These are examples. There are HGVC timeshares in a lot of different counties in New York, Florida, Hawaii, etc., so the buyer needs to determine this based on the particular county. Each of these offices has its own requirements and fees which need to be satisfied in order to record the deed.

In order to get to the actual transfer of ownership (signing, delivering and recording a deed), most people take a lot of other steps. Normally the transaction begins with a buy-sell agreement signed by the seller and buyer. This agreement sets forth the terms and conditions of the sale (the week or weeks being sold and purchased, price, closing date, type of deed, terms relating to closing, title insurance, etc.). A buy-sell agreement is not legally necessary, but most people would be foolish not to have one. In the case of HGVC-built resorts, HGVC normally has a right of first refusal (ROFR), so HGVC needs to be notified before the transaction goes very far to determine if HGVC wants to exercise its ROFR. I assume there is a form used for this notification, but it has been so long since I purchased one of these weeks that I do not recall if there is or there isn't. I believe HGVC has a very good person named Xiomarra Colon in its Orlando office who is probably the person to ask about the specifics of ROFR. In the case of affiliate resorts, there is no ROFR.

Once the parties have a signed buy-sell agreement which does not violate HGVC's ROFR, the parties need to schedule a closing. A closing is simply the place, date and time where the purchase price is paid and the deed is exchanged. Last year I closed a purchase of a week on Captiva Island by driving to Marco Island, where the seller lived, meeting him at a Wells Fargo Bank on the island, obtaining a cashier's check for the purchase price, handing it to the seller, and obtaining his signed, notarized deed (which I had prepared for his signature and which a bank officer notarized for him). I also prepared a buy-sell agreement, but the buyer never got around to signing it. The transaction happened so fast that neither of us really cared as long as he received my money and I received his signed, notarized deed. It was simple and didn't cost anything beyond the actual purchase price and the cost of obtaining a cashier's check. However, it is not a good idea for most people to close one of these transactions in this manner. I am a lawyer and believe I know enough to protect myself in many situations. For most of you, handling one of these transactions is kind of like performing surgery on yourself. If you haven't been educated and trained to perform a particular surgery, how good would your surgery be, and how much risk do you want to take?

There are many ways to make honest mistakes on deeds that cause problems at the time or years later. If a mistake is made on a deed, it can take lots of work and expense to get it corrected. Further, there are many ways for fraud to occur in one of these transactions. Most HGVC owners are honest, but not all are. I once purchased a week on Sanibel Island from an attorney who had recorded a deed in his name, except his middle initial was different from his real middle initial. I would never have figured that out by myself. I was lucky to have been forced to have the transaction closed at a title company, and the title company, Wilkinson Title in Fort Myers, Florida, found this discrepancy. It also found that he owed the IRS large sums of money, and IRS liens had been filed in the state where he lived. I'm not so sure the IRS lien would have affected my ownership, because I do not believe its lien had been recorded in Lee County, Florida, where the timeshare week was located. But I am glad I did not have to find out the hard way. The title company wanted the IRS to consent to the transaction and release its lien. It would not (and had no obligation to) release the lien unless it consented to the transaction and received the net proceeds. The attorney/seller protested and threatened to back out of the transaction, but ultimately, after months had gone by, he did not do so. The title company performed all of the work necessary for me to get clear title, but the transaction took a long time to close, something like 8 or 9 months. I actually purchased two adjoining weeks in the same unit from two separate sellers. The buy-sell agreements made closing of each week conditioned upon closing of the other week, because I only wanted the weeks if I could buy both. The sellers of the other week eventually became tired of waiting and said they would back out if I didn't complete their transaction. They didn't technically have the right to do that, but I understood how they felt, didn't want to argue, and closed on the purchase from them. The IRS had to be contacted, forms had to be filled out, and then a long time passed before I was told the IRS had consented to the transaction with the attorney and would release its lien.

Aside from this, it is a known fact that cashier's checks can be falsely prepared and forged using the great printers that exist today, bank wires can be faked, and there are probably too many other ways to commit fraud that only a title company can guard against. Further, never assume that because an attorney is involved, the transaction will be handled properly unless the attorney is representing you. And frankly, ordinarily attorneys are too expensive for this type of transaction. So the ordinary buyer and seller should have a title company handle closing and provide title insurance.

The title company will do its best to have a closing when you want it, but most of them have been so busy with the recent real estate boom that they may not be able to handle the transaction as quickly as you would like. And there can be complications, as my Sanibel transaction described above shows. Hopefully, those will not happen very often. But your closing date might be affected by the title company's schedule. The title company may have other requirements. You are normally best served by a title company with an office in the county where the timeshare week is located and which wants to handle timeshare transactions. The title company needs to research county records to determine what exceptions to place in the title policy, the deed needs to be recorded in that county, and possibly other forms and fees need to be filed and paid in that county. You can hire a title company elsewhere, but the likelihood is that a title company from another county (which might be in another state) will probably have to contract with a title company where the timeshare week is located to perform some of what is necessary. Having more than one title company involved seems like a situation which lends itself to greater fees.

Timeshare buyers and sellers tend to live a long way from each other. This can be in different states or even in different countries. Sometimes they don't even speak, read or write the same language. The more of these differences that exist, the longer the transaction may take. I'm lucky to be able to speak, read and write in English, which is the language used for HGVC transactions in the US. If I were Japanese, I guess I would have to be pretty trusting. I can certainly understand why a transaction might take longer for them than for me.

Once you have a deed recorded, HGVC and the resort need to be notified of the transaction so that they know the buyer is now the owner. They are going to want to bill the buyer for maintenance fees and taxes in the future, and the seller would not be very happy to continue receiving bills for these after the transaction has closed. I believe if HGVC manages a resort, only HGVC needs to be notified. For the affiliate resorts not managed by HGVC, the resort itself or its management company needs to be notified. I believe HGVC has an Inventory Activation Agreement which takes care of this (along with a copy of the recorded deed) for resorts where HGVC is the management company. You will have to check with affiliate resorts that are not managed by HGVC to determine how to notify them. To notify HGVC, I believe the activation agreement and copy of the recorded deed should be sent to Ms. Colon or other appropriate person at HGVC. This can normally be done by mail, email or fax. There may also be a fee to do this. It may take HGVC a couple of days or (not normally) up to a couple of months to process this, depending on the work load and whether there are any complications.

Finally, if an affiliate resort is involved, placing the week into the Club is not mandatory, but you may want to do so. This is done via the Inventory Activation Agreement, mentioned above for most resorts, and payment of a fee to HGVC. I am mentioning this because owners at affiliate resorts do not have to be Club members or have their weeks in the Club, but those at affiliate resorts managed by HGVC need to notify HGVC of their ownership because HGVC is the resort manager. If HGVC is not the resort manager, then HGVC only needs to be notified if the new owner wants the week to be in his or her Club account.

My description above attempts to describe three simple actions that have to be taken, but after a person has read all of this, it may not seem so simple. The simple steps are (1) record a signed, notarized deed; (2) notify the resort manager of the change in ownership, which usually is HGVC; and (3) notify HGVC to place the week into the buyer's Club account. There are lots of partial steps and potential problems along the way which make this longer and more complicated than any of us wishes, but usually exist for a reason. My Captiva purchase described above was extremely simple and took several days, but it is too risky and just not feasible for most people, particularly when they may live across the country from each other, or even in different countries. My Sanibel transaction describes one problem which could have been serious if a title company had not been involved and caused many months of delays. I had to be patient for it to work out. Eventually it did work out, and I am glad I was patient because I have enjoyed owning those consecutive weeks in the same unit.
You are amazing! Thank you so much for posting such a long and detailed response. I truly do appreciate your time and insights!!
In order to transfer ownership of a week from a seller to a buyer, the seller needs to sign and deliver a deed to the buyer. The buyer needs to record the deed with the county office which records deeds. For a Las Vegas timeshare week, this would be the Clark County Recorder. If the timeshare week is for a week located at Sanibel or Captiva Islands, Florida, the deed would be recorded at the office of the Lee County Clerk of Courts office. These are examples. There are HGVC timeshares in a lot of different counties in New York, Florida, Hawaii, etc., so the buyer needs to determine this based on the particular county. Each of these offices has its own requirements and fees which need to be satisfied in order to record the deed.

In order to get to the actual transfer of ownership (signing, delivering and recording a deed), most people take a lot of other steps. Normally the transaction begins with a buy-sell agreement signed by the seller and buyer. This agreement sets forth the terms and conditions of the sale (the week or weeks being sold and purchased, price, closing date, type of deed, terms relating to closing, title insurance, etc.). A buy-sell agreement is not legally necessary, but most people would be foolish not to have one. In the case of HGVC-built resorts, HGVC normally has a right of first refusal (ROFR), so HGVC needs to be notified before the transaction goes very far to determine if HGVC wants to exercise its ROFR. I assume there is a form used for this notification, but it has been so long since I purchased one of these weeks that I do not recall if there is or there isn't. I believe HGVC has a very good person named Xiomarra Colon in its Orlando office who is probably the person to ask about the specifics of ROFR. In the case of affiliate resorts, there is no ROFR.

Once the parties have a signed buy-sell agreement which does not violate HGVC's ROFR, the parties need to schedule a closing. A closing is simply the place, date and time where the purchase price is paid and the deed is exchanged. Last year I closed a purchase of a week on Captiva Island by driving to Marco Island, where the seller lived, meeting him at a Wells Fargo Bank on the island, obtaining a cashier's check for the purchase price, handing it to the seller, and obtaining his signed, notarized deed (which I had prepared for his signature and which a bank officer notarized for him). I also prepared a buy-sell agreement, but the buyer never got around to signing it. The transaction happened so fast that neither of us really cared as long as he received my money and I received his signed, notarized deed. It was simple and didn't cost anything beyond the actual purchase price and the cost of obtaining a cashier's check. However, it is not a good idea for most people to close one of these transactions in this manner. I am a lawyer and believe I know enough to protect myself in many situations. For most of you, handling one of these transactions is kind of like performing surgery on yourself. If you haven't been educated and trained to perform a particular surgery, how good would your surgery be, and how much risk do you want to take?

There are many ways to make honest mistakes on deeds that cause problems at the time or years later. If a mistake is made on a deed, it can take lots of work and expense to get it corrected. Further, there are many ways for fraud to occur in one of these transactions. Most HGVC owners are honest, but not all are. I once purchased a week on Sanibel Island from an attorney who had recorded a deed in his name, except his middle initial was different from his real middle initial. I would never have figured that out by myself. I was lucky to have been forced to have the transaction closed at a title company, and the title company, Wilkinson Title in Fort Myers, Florida, found this discrepancy. It also found that he owed the IRS large sums of money, and IRS liens had been filed in the state where he lived. I'm not so sure the IRS lien would have affected my ownership, because I do not believe its lien had been recorded in Lee County, Florida, where the timeshare week was located. But I am glad I did not have to find out the hard way. The title company wanted the IRS to consent to the transaction and release its lien. It would not (and had no obligation to) release the lien unless it consented to the transaction and received the net proceeds. The attorney/seller protested and threatened to back out of the transaction, but ultimately, after months had gone by, he did not do so. The title company performed all of the work necessary for me to get clear title, but the transaction took a long time to close, something like 8 or 9 months. I actually purchased two adjoining weeks in the same unit from two separate sellers. The buy-sell agreements made closing of each week conditioned upon closing of the other week, because I only wanted the weeks if I could buy both. The sellers of the other week eventually became tired of waiting and said they would back out if I didn't complete their transaction. They didn't technically have the right to do that, but I understood how they felt, didn't want to argue, and closed on the purchase from them. The IRS had to be contacted, forms had to be filled out, and then a long time passed before I was told the IRS had consented to the transaction with the attorney and would release its lien.

Aside from this, it is a known fact that cashier's checks can be falsely prepared and forged using the great printers that exist today, bank wires can be faked, and there are probably too many other ways to commit fraud that only a title company can guard against. Further, never assume that because an attorney is involved, the transaction will be handled properly unless the attorney is representing you. And frankly, ordinarily attorneys are too expensive for this type of transaction. So the ordinary buyer and seller should have a title company handle closing and provide title insurance.

The title company will do its best to have a closing when you want it, but most of them have been so busy with the recent real estate boom that they may not be able to handle the transaction as quickly as you would like. And there can be complications, as my Sanibel transaction described above shows. Hopefully, those will not happen very often. But your closing date might be affected by the title company's schedule. The title company may have other requirements. You are normally best served by a title company with an office in the county where the timeshare week is located and which wants to handle timeshare transactions. The title company needs to research county records to determine what exceptions to place in the title policy, the deed needs to be recorded in that county, and possibly other forms and fees need to be filed and paid in that county. You can hire a title company elsewhere, but the likelihood is that a title company from another county (which might be in another state) will probably have to contract with a title company where the timeshare week is located to perform some of what is necessary. Having more than one title company involved seems like a situation which lends itself to greater fees.

Timeshare buyers and sellers tend to live a long way from each other. This can be in different states or even in different countries. Sometimes they don't even speak, read or write the same language. The more of these differences that exist, the longer the transaction may take. I'm lucky to be able to speak, read and write in English, which is the language used for HGVC transactions in the US. If I were Japanese, I guess I would have to be pretty trusting. I can certainly understand why a transaction might take longer for them than for me.

Once you have a deed recorded, HGVC and the resort need to be notified of the transaction so that they know the buyer is now the owner. They are going to want to bill the buyer for maintenance fees and taxes in the future, and the seller would not be very happy to continue receiving bills for these after the transaction has closed. I believe if HGVC manages a resort, only HGVC needs to be notified. For the affiliate resorts not managed by HGVC, the resort itself or its management company needs to be notified. I believe HGVC has an Inventory Activation Agreement which takes care of this (along with a copy of the recorded deed) for resorts where HGVC is the management company. You will have to check with affiliate resorts that are not managed by HGVC to determine how to notify them. To notify HGVC, I believe the activation agreement and copy of the recorded deed should be sent to Ms. Colon or other appropriate person at HGVC. This can normally be done by mail, email or fax. There may also be a fee to do this. It may take HGVC a couple of days or (not normally) up to a couple of months to process this, depending on the work load and whether there are any complications.

Finally, if an affiliate resort is involved, placing the week into the Club is not mandatory, but you may want to do so. This is done via the Inventory Activation Agreement, mentioned above for most resorts, and payment of a fee to HGVC. I am mentioning this because owners at affiliate resorts do not have to be Club members or have their weeks in the Club, but those at affiliate resorts managed by HGVC need to notify HGVC of their ownership because HGVC is the resort manager. If HGVC is not the resort manager, then HGVC only needs to be notified if the new owner wants the week to be in his or her Club account.

My description above attempts to describe three simple actions that have to be taken, but after a person has read all of this, it may not seem so simple. The simple steps are (1) record a signed, notarized deed; (2) notify the resort manager of the change in ownership, which usually is HGVC; and (3) notify HGVC to place the week into the buyer's Club account. There are lots of partial steps and potential problems along the way which make this longer and more complicated than any of us wishes, but usually exist for a reason. My Captiva purchase described above was extremely simple and took several days, but it is too risky and just not feasible for most people, particularly when they may live across the country from each other, or even in different countries. My Sanibel transaction describes one problem which could have been serious if a title company had not been involved and caused many months of delays. I had to be patient for it to work out. Eventually it did work out, and I am glad I was patient because I have enjoyed owning those consecutive weeks in the same unit.
Thank you so much for taking the time to share such a detailed response. I very much appreciate your time and efforts in assisting me to understand this process! Your kindness shows!!
 
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