Also, Redweek offers a closing company:
Timeshare Resale Escrow Service RedWeek.com now offers a secure and convenient third-party handling service to members participating in a timeshare resale transaction. Using First American Title Insurance Co., the leading timeshare escrow company, RedWeek.com members can transact timeshare resale agreements with other members, without security concerns that may be associated with private transactions.
Costs (in $USD): $300.00 escrow closing service in the United States. $300.00 title insurance for properties in California, Nevada, Arizona, Hawaii, and Florida. For cost of title insurance in other locations, please contact First American Title Insurance Co. $495.00 escrow closing service outside of the United States, no title insurance option available. NOTE: Prices do not include the cost of the resort's transfer fee or recording fees.
If the timeshare property is located in a state that requires an attorney in deed preparation (FL, GA, IL, KY, LA, MD, MA, MI, NJ, NY, NC, OH, OR, SC, TX, VA, WA, DC, WV), First American Title will make these arrangements, but applicable attorney fees will be assessed in addition to the above costs. The state's requirement for attorney participation may lead to a longer closing timeframe. Please ask First American Title for a cost and time estimate.
Steps: The buyer and seller come to an agreement on a purchase price and terms. The seller completes all forms through First American's online application process. First American sends a confirmation e-mail to the buyer, along with a link to the agreement where the buyer will complete their information and make a down payment. First American Title collects and prepares the deed, then mails all closing information to the buyer and the seller. Both parties fill out the paperwork individually and return to First American Title. The buyer should send their remaining payment at this time. First American Title confirms the deed has been recorded, and disburses funds to the seller, notifies the HOA of the closing, and provides the buyer with a title policy. The buyer will receive the original deed directly from the county. Open an Order: Get started with the online application process now.
If you prefer to use paper forms and mail or fax to First American Title, they are included below. Each are to be completed by the seller.
Sales/Purchase Information Sheet Availability of Occupancy Certification Credit Card Authorization if paying by credit card. First American Title Insurance Co.'s Contact Information: Resale Department Phone: 866-639-9203 (from U.S. only); 702-792-6863 (outside U.S.) Fax: 702-562-9760 E-mail First American Title
Why First American Title Insurance Co.? First American Title Insurance Co.'s National Vacation Ownership Division (NVOD) is a part of the First American Corporation, a Fortune 500 Company that has been in existence over 100 years. Our specially trained staff is just one of the many reasons First American Title Insurance Co. is an innovator in the vacation ownership industry. We understand the unique needs of the timeshare/fractional customer.
First American Title Insurance Co. acts as escrow holder and orchestrates obtaining signatures for all closing documents, collecting payment from the buyer, preparing the deed, coordinating the transfer with the resort's Home Owners Association (HOA), collecting and disbursing funds between the buyer and seller. You can have peace of mind knowing that your monies will be held in trust by First American Title Insurance Co.'s National Vacation Ownership Division.
