Do I need to Hire an Escrow Company to buy a timeshare?

I found an individual owner, who is willing to sell his Studio at La Samanna, Brigantine, NJ for $2,000.00.

The Sales rep at GMAC/Timeshares Only was nice enough to let me contact the owner directly (I was not comfortable at all when she quoted like $1,600 in fees if I were to let GMAC handle the transaction).

My question is what is the minimum expenses I can get away with in this transaction? Of courcse, I want to make this as inexpensive as possible. Title insurance? Deed Recording? etc?

thomasg119 wrote:

I found an individual owner, who is willing to sell his Studio at La Samanna, Brigantine, NJ for $2,000.00.

The Sales rep at GMAC/Timeshares Only was nice enough to let me contact the owner directly (I was not comfortable at all when she quoted like $1,600 in fees if I were to let GMAC handle the transaction).

My question is what is the minimum expenses I can get away with in this transaction? Of courcse, I want to make this as inexpensive as possible. Title insurance? Deed Recording? etc?

Search 'reputable closing companies' that include escrow services via the search feature on the right side of this page. The one's recommended here won't cost anywhere near $1600.

jayjay wrote:

thomasg119 wrote:

I found an individual owner, who is willing to sell his Studio at La Samanna, Brigantine, NJ for $2,000.00.

The Sales rep at GMAC/Timeshares Only was nice enough to let me contact the owner directly (I was not comfortable at all when she quoted like $1,600 in fees if I were to let GMAC handle the transaction).

My question is what is the minimum expenses I can get away with in this transaction? Of courcse, I want to make this as inexpensive as possible. Title insurance? Deed Recording? etc?

Search 'reputable closing companies' that include escrow services via the search feature on the right side of this page. The one's recommended here won't cost anywhere near $1600.

$1600 is a rip off. I have no interest in Timeshare Transfers of Vero Beach, Florida who was the transfer agent for a transaction of which I was the buyer. When I found a misrepresentation by the seller and they refused to change the price, I cancelled the deal and received my escrow money back promptly. There are problably many others who will charge significantly less than $1600. Good Luck, Stan.