When buying a resale timeshare, it is important to make sure that you are buying from a safe and reliable service. One way to ensure that you are getting the product that has been offered to you as a buyer is an Estoppel letter. An estoppel letter is just one easy step you can take to make sure you aren’t stuck with an account you didn’t want.
Why Obtain an Estoppel Letter
Whether or not your are working with a BBB accredited agency to buy or sell your timeshare ownership, it is a good idea to obtain an Estoppel letter. This ensures that the seller of the property is indeed the owner of the property, and confirms many of the ownerships attributes such as available usage, week number, unit size or view for example. With timeshare scams on the rise in the past few years, it pays to be cautious about your purchases.
The Better Business Bureau has concluded that timeshare fraud is one of the leading scams in the United States. As a consumer, it is important to do your research about who you are buying from and
what it is you are buying. When you ask for an Estoppel letter, it confirms that the seller truly owns the property that are selling the ownership, and that they have represented the ownership correctly.
Estoppel letters are just one way of avoiding costly scams. To be sure that you are getting the deal you want and the property you need, make sure you are using a credentialed and trusted broker for you buying and selling needs. If you are buying a timeshare, you should not have to pay anything to find a timeshare that fits the needs of you or your family.
If you are trying to sell your timeshare, it is important to know that you should not have to pay any upfront fees before the company even puts your ownership on the market. An honest broker will not take any upfront fees, instead, will work to get your property sold for you and then take a commission. This gives the broker incentive to sell the property rather than sitting on it and letting the seller pay the maintenance fees.
If you would like a free consultation about buying or selling a timeshare, feel free to contact us.