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Timeshare Closings... (by KC):

judithf35 wrote:

I'm thinking about selling my timeshare and have read many comments about title companies. However I have one question, do I contact the Timeshare title company prior to listing my unit or do I contact them once I have a buyer? Thank you

A well informed timeshare buyer should want to select his / her own closing company, so you as the seller should not attempt to select or dictate the closing company to handle the transaction (unless you, as the seller, intend to pay the closing costs --- not usually the case). Identification of a closing company is usually initiated AFTER a willing buyer and a willing seller have agreed to terms of purchase / sale. The closing company will also handle escrow of the transaction funds.

There is no point in contacting a closing company until such time as a willing buyer and seller have agreed to purchase and sale terms, since the closing company will require payment in full (by either the buyer or the seller) before any further processing ($300 is a representative fee). Closing co. handles funds, deed prep & recording, resort notification, but they DON'T engage in negotiations between buyer and seller; sale details should be fully resolved BEFORE hiring the closing company.

P.S. Timeshare closing entities usually are NOT "title companies". SOME closing companies MAY offer title insurance (but at considerable additional expense). Closing entities which literally ARE "title companies" may insist upon title insurance for the transaction. In several decades of timeshare purchases & sales, I have never bought title insurance, but the personal choice of your future buyer might be different, depending upon the dollar amount of the transaction.

The big challenge for you in the current sour market conditions will be finding a willing buyer; the closing company part is easy. Good luck.