Need for escrow

Post reply

Note: Please do not post ads in the timeshare forums. If you want to add a timeshare posting, go here.

Original Message:

Need for escrow (by Mike N.):

tmassa7 wrote:
I have a potential buyer, but he doesn't want to pay the escrow fees, saying he can do it cheaper by himself . . .

Am I SAFE selling this way?

IMO, escrow protects mainly the buyer. Is he talking about all the other fees as well, i.e. title search, recording the deed, etc. This can be handled individually if all the proper steps are taken. You need to make sure the deed gets properly recorded and the resort gets notified of the new ownership, otherwise you could get an unexpected bill for MFs.

Check state laws, some states may require an attorney to "handle" the real estate transaction.