Original Message:
Re: selling time shares without using a title company (by Carvan A.):
jayjay wrote: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....I never bought title insurance on any of the 9 timeshares we owned, but I did contact the resorts asking if the seller WAS the owner and if they had any liens or past due maintenance fees. This is really all one needs to do and it's called due diligence .... really no need for purchasing title insurance
I personally do not consider a call to a resort "asking if the seller WAS the owner and if they had any liens or past due maintenance fees" to constitute "due diligence". A title search requires a visit (or call) to the court house and examining a title is a legal function. As has often been said, "The person who represents himself in a legal matter has a fool for an attorney". Typical title insurance on the sale of a timeshare is $130-$150 based on my experience. This is a small price to pay for peace of mind especially when one pays >$15,000 to a developer.