Original Message:
Re: selling time shares without using a title company (by Carvan A.):
anisew wrote:hi everybody i'm a memeber of redweek, and i look at some of the commets that you guys post and i'm seeing the one were people are talking about that ibd company. Well just wanted to share some news with you most timeshares that you sell dont need a title company. what you have to do is call were you own at and ask them how can you sell your own time share without a title company. I did it with one of my timeshare and the deal went through just fine... It saves money and you are cutting the middle man out. Its just like selling real-estate were you dont need that agent....
With due respect, your analogy comparing the role of a title company with that of an real estate agent is totally wrong. These are separate and distinct functions. An agent represents one party, typically the seller, whereas a title company in effect represents both. The title company using an attorney examines the title of the property being sold and identifies any outstanding assessments, liens, and impendiments in the title. These are pointed out to the buyer who expects them to be cured prior to closing. The title company then issues a title policy to the buyer assuring them (insuring) that there are no unpaid assessments etc other than those disclosed.
It is true that you don't need an agent to sell a residence, for example, where the buyer and seller negotiate their own deal without a third party. But, the buyer of residential real estate is a fool to acquire real property without a title policy. Sure, I have sold real estate without title insurance but I sure wouldn't buy real estate including a timeshare without a title policy. I am aware of horror stories of those novices who purchased timeshares without a title search and later learned there were unpaid maintenance fees for prior years.
I think what you are trying to say is that an individual can buy a timeshare without a formal closing, without a third party escrow agent, and without a title policy. I agree that can be done and the buyer is a fool.