selling to a friend

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Original Message:

Re: Re: selling to a friend (by KC):

gregm436 wrote:
A friend is wishing to purchase our timeshare for money. It will be at a reduced price. The TimeShare is paid for. How do we proceed, if we wish to do this process ourselves? Thanks Gm

I suggest contacting LT Transfers (LTTransfers.com) to handle all details (preparation and recording of a new deed, payment of recording fees and "document stamps", notification to the resort after the new deed is recorded (they will provide the resort with a copy of the newly recorded deed). It's a small business, located in Georgia, nice folks, good communications --- and the best price to be found anywhere for competent closing services (most likely under $200 in total cost). For the record, I have no affiliation with LTT other than as a repeat customer who has used them in multiple transactions over the years, as both buyer and seller. I will use them again in the future for any timeshare transactions.

Keep in mind that your resort might also impose a "transfer fee". Most do. It would be wise to find out (from the resort) what that fee amount is; it would also be prudent to reach advance agreement with your buyer as to which one of you will pay it. Btw, if there is a transfer fee, it is NOT included in the LTT (or in any other closing entity) fees. For example, Wyndham currently charges $200, Hyatt charges $700, smaller independent resorts generally charge $100 or less; some don't charge anything. Where imposed, a "transfer fee" is an unavoidable cost, although it's really just a money grab charge for the 30-45 seconds it takes to make a name and address change in their owner database after a new deed is recorded. Transfer fees are "legal larceny" in my opinion, but completely unavoidable when / where imposed.

You can tackle the deed work yourself, but in my opinion that would be "penny wise and pound foolish". You would need to prepare a new deed yourself, in proper format, pay deed recording fees to the appropriate county --- and if you screw up in any details on the deed (the county does NOT review or check what you submit before recording it), it will take unnecessary and avoidable effort, time and money later to rectify errors of your own creation. Leave it to the pros.

Hope this helps you. Good luck.