Estoppel Questions???

[Great3]

Hello All,

I have a few questions on what information is contained in an estoppel from DVC?

I got a copy of the estoppel from the title company, and it seems to be missing the points information for me to verify. The only thing I see, is a section for Loan and Payoff Information (which information is blacked out by I assume the title company), and Maintenance Fees and Payoff Information.

I thought I read somewhere where the points information on the contract should be included on there? Did anybody else get a copy of their estoppel and see the points information or not?

Normally, I wouldn't think anything of it, but the fact that a lot of lines were blacked out, especially all the loan information, makes me wonder if everything wasn't shared with me. It doesn't matter to me if there's a loan or not, so long as the proceeds from my purchase goes towards paying off the Loan. I see there are outstanding MF's and late fees not yet paid, so hopefully between seller's commission to broker, outstanding loans and MF's, there will be enough for the seller to not have to bring money to the closing table.

If there are outstanding 2019 MF's, than I presume the account got locked, and the seller didn't have access to use the 2019 points, correct (unless they happened to borrowed into 2018 use year and use it all up with their 2018 use year points before becoming delinquent with their 2019 dues)? I really wish the points information got included in the estoppel so I can verify what I am actually getting. Or if it's suppose to be included, and that the title company didn't send me a complete copy of estoppel?

Thanks,
Great3

 

[Great3]

I am guessing nobody seen an estoppel before, I take it? I guess the one good thing out to this estoppel, at least I get to see the MF dues for 2019 and can see it was charged at the subsidized dues rate, so I can be fairly confident I got an Aulani subsidized contract. That's what matters to me most long term. I am fairly confident the points will be correct as the broker said before listing the contract for sell, they always do a points verification at first.

Great3

 

[Best Aunt]

I guess I'm confused by what you are referring to as "Estoppel."

Are you buying resale?

Where are you in the purchase process?

We might be able to compare our old paperwork to yours if we got a little more info.

 

[Great3]

Yes, I am buying resale. Contract signed on Feb. 28th. Submit to ROFR on March 1st. I passed ROFR on March 12th. I was told by broker / title company that they need to wait for Estoppel from DVC before they can draw up closing documents. Now that title company got the Estoppel from Disney, title company is ordering closing docs, which they said I should get next week for closing/signing, so almost done. Yeah!!!

Great3