Post reply

Re: first american title "redweek recomended" (by KC):

jayjay wrote:

ken1193 wrote:

To correct just one mistaken point in the quote cited above, I do know from my own very recent personal experience that Timeshare Transfer will NOT handle closings for timeshares which are located in any one of several different states within the U.S. I included Vermont as just one specific example, but TT actually has a list clearly posted on their web site of the states for which they WILL handle closings. jayjay has posted the URL for the TT site, where the states are listed.

In checking their website they have now included the states that they can do closings. This must be something new as that note was not included on their website when they handled many of my closings. They handled closings for me in North Carolina, South Carolina and Louisiana (a difficult close as I bought from someone out of the U.S.) and those states aren't currently listed. There must have been some legal issues that arose from the states not presently listed. My closings were a few years ago

Timeshare Transfer

Complete Timeshare Closing Service $300 For properties located in the following states: Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Iowa, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nevada, Pennsylvania, Tennessee, Texas, Utah, Virginia, West Virginia and Wisconsin

As you can now clearly see for yourself, there are actually MANY states (more than half the states in the U.S., in fact) where TT WON'T handle closings. Among all six New Englad states, for example, Massachusetts is the ONLY state for which TT WILL handle a closing.

There are various reasons for this development in timeshare closings in different states in recent years. I know the story / reasons in a number of those states, but I doubt anyone is really interested in those details. Sometimes it involves a "property transfer tax" imposed by the state; a situation in which TT doesn't want to get itself involved. In other instances (SC, for example) the law actually requires involvement of a SC bar member attorney. But no matter. Just knowing where TT will and will not handle closings is certainly sufficient info for anyone interested in this subject.

Just one additional point of information about TT "complete" closing service for $300. That figure does NOT include TT obtaining an estoppel letter from the resort (that costs an additional $50). While not legally required to achieve closing, an estoppel letter is always a good way for the buyer to get written, objective confirmation that the seller has no unpaid bills at the resort). Also, if the resort charges a "transfer fee" (as many do, typically $50-100, or more), that fee is also NOT included in the "complete" TT closing service fee of $300. In short, "complete" is somewhat "relative" here.