How do you transfer Deed to a Buyer

I have a TS in Florida and I live in PA. If I get a buyer for my unit how do I make the transaction - who should handle this for me? Help is needed.

Thanks Debbie

deborahc163 wrote:

I have a TS in Florida and I live in PA. If I get a buyer for my unit how do I make the transaction - who should handle this for me? Help is needed.

Thanks Debbie

You should engage the services of a professional closing company which handles Florida closings to handle all details, including preparation of a new deed and recording it in the appropriate county, handling escrow of funds between buyer and seller, obtaining estoppel letter from resort (indicates in writing that there are no existing unpaid bills, confiriming this from a source other than just the sellers' own assertions) and paying the resort transfer fee (if any -- most resorts charge at least $50, some much more, very few charge none at all).

Closing company costs (except for the unknown amount of the resort transfer fee) will be right around $300 --- no more, possibly a little bit less. My own favorite closing company is Timeshare Transfer of Vero Beach, FL. JRA is another closing company about which people also report favorable experiences. There is no need to look any further than one of these two, in my opinion, since NO ONE ELSE will be either any better or any cheaper. For the record, I have no affiliation with either one, but I have used Timeshare Transfer many times as both buyer and seller and they are excellent. Any intelligent buyer who wants to ensure that things get done correctly and who (understandably) wants a "middleman" to handle the funds will insist upon using a reputable closing company. Some of the eBay "mega-seller" closing companies are borderline incompetent, but that's another subject...

As a seller you can handle the paper work if you provide the buyer proof that both county taxes and maintenance fees are paid current. This can be independly verified withthe county and the resort mangement company. If the Buyer insists on Title Insurance you will need a Title Company. Escrow is handy for all this but adds costs. You can also do your cotract for sale.

paulg200 wrote:

As a seller you can handle the paper work if you provide the buyer proof that both county taxes and maintenance fees are paid current. This can be independly verified withthe county and the resort mangement company. If the Buyer insists on Title Insurance you will need a Title Company. Escrow is handy for all this but adds costs. You can also do your cotract for sale.

Personally, If I am the buyer, I don't want the seller handling either ANY of the paperwork (or the money). Further, I want independent verification of no unpaid fees, liens, etc. via estoppel letter. If I am the buyer, I ALWAYS want a closing company involved and I will gladly pay the $300 involved for the peace of mind of having things done EXACTLY RIGHT, promptly, and without having to worry about where my money is...

To each his own, I guess, but I personally think it's nothing short of outright foolhardy for a buyer to NOT insist upon, pay for and use a professional closing company...

Title insurance is a waste of money for any low cost timeshare, at least in my own experience and opinion. Only when you get into "5 figures" or more should you even consider paying the several hundred dollars for title insurance -- once again, just my personal opinion.

The OP in this thread is a seller, and the buyer usually pays closing costs --- so the seller has no reason or motivation on Earth to get involved in a "do it yourself" closing.

I have a timeshare in Oregon that I wish to sell. Can anyone tell me of a good closing company that does business in Oregon? Thanks

I own at Villa del Palmar Cabo San Lucas (Mexico). Does the same apply? Do you have any company to recommend in handling the closing? Thanks.

To both inquirers above - go to right hand side of this page and click search forums - then enter reputable closing companies.

There are many companies with different turn around times and offerings to do timeshare closings.I have used 5 different ones in the last twelve months and have learned how to do it all myself with adaquate protection (for California-based timeshare). My suggestion for a safe and reliable escrow holder with a long proven track record is First American Title out of Las Vegas which always includes title insurance (usually paid for bu buyer). 866-639-9203.

Timeshare Title, Inc out of Sharon PA, is less costly as it does not usually do title insurance. 724-347-1061.

In either case the longest wait is waiting for the management company to assign you a contract.

Typically the whole process is 3 -6 months. When you start you might specify rollover of vacation time to the next year.

There are many more details as I am specializing in one resort as a hobby and buying and selling time, but it is too long for one post.

paulg200 states in relevant part: >> I have used 5 different ones in the last twelve months and have learned how to do it all myself << ========================================

Personally, when buying, I don't EVER want the seller "handling" anything whatsoever in the transaction. Too much possibility for mistakes and too much like "a fox in the henhouse" proclaiming that "all is well and under control". I want a detached, objective third party "middleman" involved. As a buyer, I choose (I insist, actually) to select (and pay for) a closing company of my own personal choice. To each his/her own, I guess...

ken1193 misunderstood...(in relevant part) Personally, when buying, I don't EVER want the seller "handling" anything whatsoever in the transaction. Too much possibility for mistakes and too much like "a fox in the henhouse" proclaiming that "all is well and under control".

To be clear I was the buyer in all the above transactions. paulg

paulg200 had previously stated in this same thread: >>...I am specializing in one resort as a hobby and buying and selling...<< ==============================================

If I misinterpreted, somehow thinking that the words "buying and selling" actually meant "buying and selling", my apologies for my misunderstanding. In any event, my intended point was (and remains) simply that a buyer is always much better protected using a closing company than in just relying upon the representations, actions, or money handling by a seller.