can I pay less?

[MAJPLO]

A friend wants to sell us his timeshare. I'm not questioning his asking price so much as the fees and I'm wondering if some of you here can give advice. We are looking at a recording fee of $125 plus a transfer fee of $130 plus attorney fees of $375. Does that sound about right? TIA

 

[theo]

A friend wants to sell us his timeshare. I'm not questioning his asking price so much as the fees and I'm wondering if some of you here can give advice. We are looking at a recording fee of $125 plus a transfer fee of $130 plus attorney fees of $375. Does that sound about right? TIA

Transfer fee is dictated by the resort itself; $130 is not unreasonable. Recording fees vary by location; $125 seems a little bit high, but not crazy.
Don't know where your unspecified transaction is located, but few states require any attorney involvement at all (SC apparently being one exception). No attorney is likely to to handle something like this for much less than $375, although a closing company like LT Transfers (if / where no attorney was even required at all in the first place) would handle the closing for about half that amount. Hope this helps to answer your questions.

 

[Saintsfanfl]

A friend wants to sell us his timeshare. I'm not questioning his asking price so much as the fees and I'm wondering if some of you here can give advice. We are looking at a recording fee of $125 plus a transfer fee of $130 plus attorney fees of $375. Does that sound about right? TIA

Not really but it depends on the property and where it is located.

The "recording fee" of $125 probably contains the administrative fee associated with processing the recording. The true recording fee with the county is likely going to be really small and not rounded to a whole number, but again it depends on the location.

The transfer fee is probably real and the actual amount that the resort or system requires, but I would verify it.

You never want an attorney fee unless an attorney is required, so it depends on the location. FL for example you would never need to pay an attorney but in SC it is required. The amount of $375 is too high even if required unless the attorney is handling the whole process.

Try LT Transfers. They will not have any fluff in their fees.

 

[MAJPLO]

Thank you both. It is Berkshire Mountain Lodge in Massachusetts and I'm not sure if an attorney is required in that state.

ETA the attorney would handle all parts of the transaction for that $375 fee


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[Saintsfanfl]

Thank you both. It is Berkshire Mountain Lodge in Massachusetts and I'm not sure if an attorney is required in that state.

ETA the attorney would handle all parts of the transaction for that $375 fee


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LT requires an additional $25 there so I am thinking something is needed with the attorney but their fee only goes up by $25 to $150. If you have a choice use LT. You will pay $150 plus actual recording plus $7 postage plus actual transfer fee (which is unfortunately probably the same $130).