This information is not really accurate, but I certainly appreciate the sentiment behind the post. The secondary market for timeshares is flush with scams and resale fraud, so consumers must always take care before dealing with any resale or closing organization.
Each resort will have a specific transfer procedure, so before buying or selling- it is always wise to contact the resort management company to request this information in writing. This should disclose any resort specific transfer fees, whether a right of first refusal process is required, as well as any unusual demands such as a buyer credit report or board authorization of the transfer. Very few resorts have these extreme measures, and most transfers are fairly simple but do take time since the majority of the transaction is completed by correspondence. You may also want to ask for any closing company recommendations the resort association can provide.
The most important thing to remember as a seller is that the closing process will normally follow the same procedure as a traditional residential closing. Any seller fees or expenses would simply be deducted from the seller's gross proceeds at closing and no upfront or advance fees should be required (unless you understand at the beginning of the transaction that the sale proceeds will not fully cover the selling expenses such as a mortgage payoff or large broker commission).
Paying some type of upfront or advance fee is the most common consumer complaint regarding timeshare resale and rentals scams!
Susan A.
