Post reply

Re: sELLING MY TIMESHARE (by Carrie S.):

phill12 wrote:

candicek7 wrote:

Can I still sell my timeshare if it is not paid off yet? How do I go about doing this? Thanks.

======================================== Phill12 Candicek, its hard enough to sell a timeshare now days without debt added on! I would say the short answer would be no!

...

I think the short answer is yes. This is just like selling your home. To clear title, you must pay off all related debts in escrow. If the selling price is lower than the debt, the seller pays the difference into escrow. If the selling price is more than the debt, the difference is paid to the seller at the close of escrow.

You absolutely must have an escrow company and title insurance for this transaction. You need to be sure escrow instructions are written properly.

This is like any other property change of ownership in the short run, just as it was when you bought it.