Timeshare closing company?

Can someone recommend a closing company for a timeshare which we own and will be selling. We have our buyer, just unsure about a reliable closing company. We are located in CA. Thanks

sandiego,

You have posted within the correct forum here on TUG; and you no doubt will get some replys from others who like you have sold their timeshare themselves. In the meantime, you may want to peruse the companies mentioned in the sub-forum of this the Buying, Selling, Renting Forum.

There are many timeshare closing companies with appropriate threads about each posted in the sub-fourm. Here is link: TUGBBB - Ratings of Timeshare Related Businesses

You should check for high rated closing companies in the TUG TS Business Ratings, if you need a full service closing.

If all you need is a simple deed transfer, I have used this licensed document Prep company to prepare and record a deed for about $100, and the owner is a Tugger.

*Dave beat me to my first point!

Licensing for deed preparation is done on a state by state basis, and almost always by the State Bar of that state. Using a closer from another state is a red flag that they may not be licensed where it matters - in the state where the timeshare is located. You should always specifically ask that question, ask for the State Bar number of the person, and then confirm that it is real with the State Bar where the timeshare is located.

One of the problems I see regularly with people who use unqualified out of state closers, is that the deeds they prepare and record are not valid to pass title. I have personally seen that repeatedly with such deeds recorded by these outfits in North Carolina. The mere fact that they get recorded does not mean that they are valid.

Of course, there are one of two multi-state timeshare closing companies which do follow the law and only use properly licensed people in the state where the timeshare is located to prepare the deeds, but most of them do not. You need to ask that question.

You might ask the timeshare's manager who is the local area could do a closing cheap.

Where the real estate is located is the primary thing that can make a difference in choosing a closing agent. Also, the type of services offered can vary (for example- escrow, resort notification, estoppels, title search, etc).

If this is a sale to a family member- you may decide that you just want help with the deed prep and recording. If this is a arms length transaction to a individual you don't know- then additional services may be very important.

I posted a list here that is organized by state: http://www.timeshareforums.com/foru...p/98143-recommended-closing-agents-state.html

I'd also recommend you ask for a few quotes for your specific transaction before making a final decision. Pay attention to "extra" charges that may also be required such as a fee for requesting an estoppels, mailing charges, escrow fees, or even recording fees.. Some closing agents have started advertising a very low price to draw business- but then bill you for a bunch of add on fees throughout the closing process.

Finally, always check with your resort management company or owner services department to be sure you are aware of any developer or HOA required procedures such as right of first refusal, resort transfer fees, reconversion fees (can sometimes be charged for affiliated point systems), etc.. You resort may also offer a closing company recommendation.

Congrats on locating a buyer and good luck with your ownership transfer.