DVC Purchase - Pending Reservation not Disclosed

[EM Lawrence]

To be honest it sounds to me like you are going to have to advocate for yourself very strongly in this situation. I do no get the feeling the agent is representing your best interest. Read your contract very carefully and be prepared to insist that the terms in the contract are adhered to 100%. Can you speak directly with the title company? I would go straight to them. This whole thing does not pass the smell test!

 

[SmallWorldGal]

Every resale contract I have had ,has had either a closing date in contract or to be closed in certain number of days from effective date of contract( usually when both parties have signed.)
Also could agent be telling you that you might be in default because they would lose commission?
If the documents you received from closing company had a closing date on them, then they should honor that date.
I also feel it would be helpful to others to know name of company which would have a contract with no closing date.

I posted earlier, but it was deleted and I can't seem to format it correctly to let me post it.

 

[EM Lawrence]

This whole discussion makes me curious. Are the people who sell timeshares licensed as regular real estate agents in Florida, or is there a separate body that they must be licensed through?

 

[Sandisw]

I posted earlier, but it was deleted and I can't seem to format it correctly to let me post it.

Just post the link to the business. You can then preview it to see if it shows up. It if comes out with ******, it is in the boards filter and you can not discuss the business specifically.

 

[HeightRequirement]

It's strange that you don't have a closing date noted on your agreement. You can try reaching out to the agent at the title company who you have been working with to verify their understanding of when this contract is supposed to close and ask them for the closing date. Also agree with others, can you name this resale broker so we know who to avoid?

 

[SmallWorldGal]

Just post the link to the business. You can then preview it to see if it shows up. It if comes out with ******, it is in the boards filter and you can not discuss the business specifically.

It keeps saying content can't be submitted. It shows up in preview, but gives me an error when I got to post

 

[HeightRequirement]

This whole discussion makes me curious. Are the people who sell timeshares licensed as regular real estate agents in Florida, or is there a separate body that they must be licensed through?

According to this Florida law firm (https://www.finnlawgroup.com/missouri-texas-virginia-maine-timeshare-licensing/) "an individual needs a real estate license from the Florida Department of Business & Professional Regulation before: 'Undertaking to list or sell one or more timeshare periods per year on behalf of another individual or entity for compensation.'” So OP could file a complaint with that governing body and seek a resolution that way.

 

[Sandisw]

It keeps saying content can't be submitted. It shows up in preview, but gives me an error when I got to post

I am not sure then,

 

[choirfarm]

YIkes. From the BBB site:
Pattern of Complaints
According to BBB files this company has a pattern of complaints that centers around the their advertising claims. Complainants allege they are guaranteed a time frame in which their timeshare will sell or that they are led to believe their timeshare will be sold quickly. Consumers have expressed difficulty in getting a hold of a SMTN representative to voice concerns or that they did not receive a return phone call as promised.
BBB met with SMTN on May 15, 2019 and October 24, 2019 to discuss the pattern and collaborate on ways to eliminate ongoing issues. SMTN is dedicating to addressing customer service issues and to ensuring that consumers receive accurate information when signing up for services. SMTN continues to work closely with BBB to resolve problems that arise and respond promptly to any complaints filed.

Consumers are requested to contact SMTN prior to filing a complaint with BBB at 1-877-815-4227.

Please contact BBB Serving New Hampshire with further questions or problems at (603) 224-1991.

 

[Sandisw]

I deleted a few posts, Please do not get around posting about a business with other information as it could result in infractions.

Board rules require the link. If it is not posting, then you can not mention by name or other searchable information.

 

[bumbershoot]

He says that the sellers weren't aware that they were going to lose points so they made a reservation after contract was submitted and information was pulled from DVC.

What does that even mean?

What a rotten situation. Can you call the title company to talk about it? (no clue if that's a thing you can do or not)

 

[bumbershoot]

Board rules require the link. If it is not posting, then you can not mention by name or other searchable information.

Just want to say, though, that I put the URL into a post and previewed it, and it was NOT asterisked out.

So something is wrong with the dis system; it's not behaving correctly for a banned URL. Might be good to know and check with known-to-be-banned sites, and perhaps make sure the moderators give people some grace until it's fixed.

 

[Sandisw]

Just want to say, though, that I put the URL into a post and previewed it, and it was NOT asterisked out.

So something is wrong with the dis system; it's not behaving correctly for a banned URL. Might be good to know and check with known-to-be-banned sites, and perhaps make sure the moderators give people some grace until it's fixed.

Yes, I am checking on it. However, no one should try to get around a rule that requires a link by then posting other information when a link does not work or show up. as that is a violation of the rules and infractions will be given.

Simply let a mod know so it can be reviewed

 

[bcuinohio]

I am in the closing process of a BLT contract now. I signed the agreement in early January. The paperwork stated that it could not close until after May 2 but no later than May 18. I will be over-nighting the paperwork on Friday. Hopefully I don't run into any issues. I think they had a late April trip planned so I don't know what will happen to those points.

 

[Sandisw]

I have checked with others and it should be working.

www.sellmytimesharenow.com

 

[HeightRequirement]

I have checked with others and it should be working.
www.sellmytimesharenow.com

Thanks for checking into this and providing the link so others are aware of the experience of OP. I have never used this site but have come across them. Just glad it's not one of the DVC-centric brokers.

 

[RhodyKP]

I have checked with others and it should be working.

www.sellmytimesharenow.com

Thank you - very good to know.

 

[LAX]

To be honest it sounds to me like you are going to have to advocate for yourself very strongly in this situation. I do no get the feeling the agent is representing your best interest. Read your contract very carefully and be prepared to insist that the terms in the contract are adhered to 100%. Can you speak directly with the title company? I would go straight to them. This whole thing does not pass the smell test!

It sounds like that's what OP needs to do. If the original contract doesn't have a closing date specified, then someone screwed it up, IMHO. I went back and looked at mine from a couple of years ago. It specifically stated that it must closed on or before a certain date unless it's extended.

LAX

 

[zavandor]

...and my actual points usage still occurring after the reservation...

This is actually not completely exact. The UY of the points you're owed start after the reservation. But if you get the contract now you could borrow 50% of them and book a reservation immediately. So delaying the closing the seller is actually preventing you to use the contract to its full extent. I cannot see how this isn't the seller's fault.

 

[SmallWorldGal]

This is actually not completely exact. The UY of the points you're owed start after the reservation. But if you get the contract now you could borrow 50% of them and book a reservation immediately. So delaying the closing the seller is actually preventing you to use the contract to its full extent. I cannot see how this isn't the seller's fault.

This is my take on this as well. Just because points on that contract aren't useable to me until after that date doesn't mean that the contract is unuseable before then. I could transfer points onto the contract (which was my plan) to then make a reservation with 11 month booking, and this timeline jeopardizes that. It seems like in the agent's mind that my options are to go along with delayed closing or pay the seller more for the prorated points. Considering the circumstances, I dont want to put more money into this, and I don't really want to wait to resubmit to ROFR again either. I feel like both of these plans benefit the seller (who cause the problem) more than they do me.