Closing Costs

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Original Message:

Closing Costs (by R P.):

lloydo3 wrote:
On a Time Share sale. Who normally pays the closing costs. Are the costs shared or are there costs that are normally the buyers or sellers responsibility. And if there is a loan involved, will the escrow company hold the deed until full payment has been made? I'm sure this question has been answered before, but I can't find how to search on this forum. Thank you, Lloyd

In the old days (before this bad economy) the buyer normally paid for closing, but with most timeshares being sold for pennies on the dollar and owners merely wanting out of paying yearly maintenance fees, many owners now pay for closing.

An escrow company holds all monies until the transaction is complete, however I'm not sure what you mean by 'if a loan is involved'. What kind of loan are you referring to?