Post reply

Are you confusing two very different issues? (by KC):

vienl wrote:

I think they make money also on transfer fees because the amount they asked me to pay is way over the amount the timeshare company requires to transfer the title !

Closing company fees specifically cover the preparation and recording of a new deed in new owner name(s) and notification to the resort of the change in ownership. Closing company fees should not cost more than $300.

"Transfer fee", on the other hand, refers very specifically to the fee which is charged directly by (some, not all) RESORTS to internally process the change in ownership in their owner / billing records. It's a gratuitous, greedy and completely unnecessary charge imposed for merely changing the name and address of the person to receive all future maintenance fee bills. Some resorts charge NO transfer fee at all (...and none EVER should, but they do it because they CAN). Many resorts charge $75-100 for a "transfer fee". Wyndham now imposes a $299 transfer fee to process ownership changes. Legacy Vacation Club (the new name for bankrupt and "reinvented" Celebrity Resorts) charges $200. Any such "transfer fee" is always completely separate from (and entirely unrelated to) those fees charged by a closing company for the preparation and recording of a new deed. The closing company has nothing to do with imposing "transfer fees" (although they MAY collect and pay them to the resort at buyer or seller request --- with additional funds from the buyer or seller ) . A "transfer fee", if imposed at all, is EXCLUSIVELY a RESORT - imposed charge.