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resale/ closing cost at Harborside

Discussion in 'Vistana Signature Experiences (formerly Starwood)' started by mac81, Feb 17, 2009.

  1. mac81

    mac81 TUG Member

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    What has been the normal closing costs for a 3 bedroom lock-off platinum season on a resale?
    What should I expect. and do I have to use who the company the broker reccomends?
    can anyone help me with this.
     
    Last edited: Feb 17, 2009
  2. DeniseM

    DeniseM Moderator

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    Welcome to TUG! :hi: Since Harborside is a Starwood TS, I moved your post to the Starwood Board.

    We have many Harborside Atlantis owners here who can help you.

    For lots of info. about how the Starwood System works, see the Starwood FAQ at the top of the page.
     
  3. mac81

    mac81 TUG Member

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    Thanks Denise
    I am new to this but any help would be appreciated.
     
  4. DeniseM

    DeniseM Moderator

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    If you've got some time on your hands, start with the FAQ at the top of the Starwood board, and check back a bit later for responses to your post.
     
    Last edited: Feb 17, 2009
  5. capjak

    capjak TUG Member

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    Harborside is a special case where you are required to use a Bahama lawyer to do the title so it usually runs $1500 to 2800 per another thread I was reading.

    That is why for Harborside I would build in this cost (i.e. lower offer price)
     
  6. jarta

    jarta TUG Member

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    mac, ... Capjack is right. I bought a 3-br Platinum at Harborside last year on teh resale market.

    The closing costs were about $2,500. (But, beware, Platinum Season is almost over.) You will also have to reimnburse for the 2009 MF if you want a 2009 usage. That's another almost $2,500. So, the price is much higher than the bid.

    I bought there and it is worth every penny. :) I'll be there March 20-27. ... eom
     
  7. mac81

    mac81 TUG Member

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    Jarta
    who did you buy from and also who handled the closing and escrow for you.
     
  8. clsmit

    clsmit Tug Review Crew: Rookie TUG Member

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    Transfermytimeshare.com does a number of Starwood transactions. I've done 2 through them, including Harborside, with different sellers, and have had no problems.
     
  9. jarta

    jarta TUG Member

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    mac ... "who did you buy from and also who handled the closing and escrow for you."

    Karl Broderson (who used to sell at Harborside) but worked for timesharebrokerservices.com was the Seller's broker.

    The closing was handled by Amanda Smith of transfermytimeshare.com. The closing took almost 90 days. Both the Buyer (me) and the Seller had to execute apostiles (notarized statements that can be used internationally). Amanda was a very busy person but had good communication skills and moved things along as best she could.

    Lenox Paton (a Bahamian law firm) handled the preparation and recording of the deed. The firm works on "Bahamian time" but knows what it is doing to close the deal.

    My title policy was purchased at an additional cost ($250?) and was issued by CT&T.

    If you are buying a Platinum timeshare at Harborside now, don't expect to make a reservation until at least May 1. By that time you will be scrambling for a 2009 reservation at Harborside and might need to reserve elsewhere for 2009. This can be avoided if you accept any reservation already made by the Seller or have the Seller make a reservation in your name while waiting for the deal to close. Some will do this; my Seller did not.

    I felt it was necessary to do the purchase right so that I did not have to file an action to quiet title in a foreign country at a later date. :) ... eom
     
  10. clsmit

    clsmit Tug Review Crew: Rookie TUG Member

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    transfermytimeshare.com, along with some of the other more organized closing companies, also offers a password-protected website where they company tracks changes in status, emails sent, paperwork received, etc. so that you don't have to call/email them every week to see what's going on. Only when things haven't happened in a while is a note required. A really nice feature to ask for if you're shopping for a closing company.
     
  11. Dave H

    Dave H TUG Member

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    It looks like now to place an order with them you have to deal direct with Chicago Title. Maybe not in the closing business any more or maybe they have been bought by Chicago Title?

    For customer service or inquiries on closings in process, please call:
    1-866-880-4040
    Or contact our customer service department by email:
    status@transfermytimeshare.com

    To Initiate a Closing please visit www.ChicagoTitleTimeshare.com

    Office Location Information:

    New Hampshire Office
    Transfer My Timeshare, LLC
    383 Central Ave. Suite 275
    Dover, NH 03820

    Virginia Office
    Transfer My Timeshare, LLC
    P.O. Box 308
    McGaheysville, VA 22840
     
  12. richardm

    richardm TUG Member

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    Transfermytimeshare is no longer actively taking on new business. That company was an in-house closing agent for Sellmytimeshare- and there were some alleged issues with possible employee theft that led to a corporate decision to get out from the closing and escrow business!

    SMTN and their in-house brokerage TBS, now refer business to Chicago Title- but always remember- almost all legal opinion on the subject states that the party paying closing costs has the right to choose an independent closing agent.. So if you aren't a Chicago Title fan (and many, many resellers are not!) you can easily insist on another closing agent!
     

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