Report Abuse

[Q=dennish144] Please ask for a neutral party to complete the transaction. There are closing companies who do this at a nominal cost. This is not a simple exchange of funds for a deed. There is likely a right of first refusal, assurance of a clean title, etc. I am in the midst of a timeshare purchase right now and the closing fees will be about $700. I did put up an earnest money deposit with the closing agent, an attorney in this case. Check with Redweek, they probably have a closing service you can trust.[/Q] I agree wholeheartedly with recommendation to utilize a neutral third party "closer" for timeshare resale transactions. Unfortunately, this is sometimes not an available option (eBay mega-resellers, for example, usually require a buyer to use and pay [b]their[/b] "internal" closing services, or some other specific entity with which they have a "very close" working relationship (...call me a cynic, but the word "kickback" somehow comes immediately to mind). RedWeek would almost certainly recommend First American Title, which they utilize in "full service" transactions. There is nothing wrong with First American Title, but there are certainly many other options available (if / when the buyer actually has any say in the matter of choosing the closing entity). Legal Timeshare Transfers in Georgia, for one example, will handle all details of a closing, including escrow of funds, preparation and recording of new deed, etc. for under $300 (but LTT does [b]not[/b] offer or conduct title searches or title insurance). I have successfully used LTT at least a half dozen times (as both buyer and seller) over the past decade and I have always found them to be competent, friendly and with excellent communications throughout the transaction process. For the record, I have [b]no[/b] affiliation with LTT other than as a satisfied repeat customer. I am not "advertising" LTT, just mentioning my personal experience after having done business with them multiple times during the past 10 years.