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

jayjay wrote:

That would be lying as the loan will not have been paid off. The loan wouldn't be paid off until after the sale of her timeshare should she even make enough money from the sale to pay off the loan balance in the first place.

You're comparing apples to oranges concerning home resales and timeshare resales. Fincncial corporations handle home loans, balances and pay offs. There's no such entity in timesharing. She will have to pay off her loan and then sell the timeshare with a legitimate clear title.

carries25 wrote:

You can always sell a ts with a loan on it. Just say you will give clear title in escrow, and pay off the loan in escrow. Be sure to use an escrow company and specify you want to transfer a clear title. Home resales are done this way.

Jayjay, The entire purpose of escrow--including title insurance--is to transfer purchase funds and convey clear title. Part of conveying clear title is to pay off any amounts--loans, taxes, maintenance fees, etc.--that cloud a title. That's why is is so necessary to use an excrow/title company to handle a ts sale.

In housing resales, you don't have to require clear title, title insurance or using equity, either, but it's very important to ensure you end up with a clear title. No one pays off their mortgage to go in to excrow. It is paid off in escrow whether the purchase price covers it or not.