Original Message:
Re: selling time shares without using a title company (by KC):
anisew states (only partly correctly), quoted only in pertinent part:
>> 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<<
Sorry, but you are incorrect on several counts here, as has already been partially made known to you:
First, the parasite company under discussion here (IBD Marketing) is not any form of a title company in the first place -- they are nothing more than a high priced advertiser with no ability (and no or legal authority) to be involved in any way in any closing. Entities involved in closings are called closing companies. A title company is something else entirely, being an entity which offers and sells title insurance (which not all closing companies can offer) and likely some attorney review. Title insurance is expensive and *legally* unnecessary in ANY state, and perhaps not cost effective for a very low priced timeshare. Title insurance alone (without closing costs) generally costs around $150 -- $300.
Second, it depends entirely upon the individual state as to whether you can "close" on a timeshare sale on your own (i.e., without a closing company). Some states (South Carolina is one example) overtly and specifically require an attorney to handle the closing. Most don't. In ANY scenario, a new deed must still be *properly* prepared and approriately recorded for the new buyer to take legal ownership.
Third, many resorts decline / refuse to get involved in resale matters in any way, shape or form, so contacting your resort to sell is only occasionally an option at all. Exceptions include resorts which have a resale office on site or an affiliation with the resale office of a management company owning several different resorts. Such resale offices are certainly a stastistical minority in the overall timeshare industry picture today.
You have undoubtedly described your own experience in your "shared news" regarding selling a timeshare, but I submit that your observations are an incomplete portion of the bigger picture of various state law requirements, closing companies, title companies and title insurance. With all due respect, it might have been better (and certainly much more correct) to simply state that "....no one needs to pay a marketing company in order to find a buyer for their timeshare....". After that correct statement, the devil is in the subsequent details.