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Any expereince with JRA Services Inc?

rudy

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There is a unit on EBAy which I am watching and the Escrow/closing is being performed by JRA services, Inc. Does anyone have expereinces with them? I googled them and found out they have a website and are located out of FL..but now-a-days anyone can have a professional looking website.

ALso in my google search I found a link to someone on Redweek who had a problem with JRA Services ..granted there was only one complaint I found, but that is one more than I had hoped to find. Please let me know if anyone has a good or bad experience with this closing company.

And another thing....... At what point does it not make sense to have title insurance for a timeshare? Earlier purchases included title insurance but they were valued at >$20K. But what about a $10K purchase ..would you recommend title insurance?
 

london

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JRA Services

We purchased a week at a Key Largo resort last summer and the seller paid closing costs via JRA services.

We were very satisfied with the service of JRA as a buyer. Communication was prompt, and we received the recorded deed in a timely manner.
 

Bill4728

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There is a unit on EBAy which I am watching and the Escrow/closing is being performed by JRA services, Inc. Does anyone have expereinces with them? I googled them and found out they have a website and are located out of FL..but now-a-days anyone can have a professional looking website.
I've never done business with them but they are a legit TS closing service.

And another thing....... At what point does it not make sense to have title insurance for a timeshare? Earlier purchases included title insurance but they were valued at >$20K. But what about a $10K purchase ..would you recommend title insurance?
Title insurance is a very personal choice. At $20K YES but at $2K no. At $10K maybe (but I'm cheap and would likely say no). BUT in lew of Title insurance, you should require an Estopple letter from the resort which says what if any debts they know about with the TS in question.
 

barndweller

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Rudy
I may be the one complaint you read about on Redweek. We had a problem with the county tax records not being completed. Long story short, JRA finally got the problem ironed out for us and all is recorded correctly now. It was a problem that would not happen for most transactions as it involved a divorced couple, property settlement and Calif. property laws. It was a headache over a $2100 timeshare purchase. JRA wasn't thrilled to get involved a year after closing, but they did and I give them high points for that. I would certainly do business with them again.

Julie
 

rudy

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Thanks ... plus more on estoppel letter

Thanks for sharing your good experiences with JRA Services Escrow and closing.



Is an estoppel letter a 'cheaper alternative' for title insurance or is it automatically requested by the escrow company on the buyer's behalf or do I have to request this form the escrow ocmpany? It seems like an estoppel letter should be requested and received before any funds are transferred...is this customary?


Julie: Thanks for coming forward .. I feel much better about JRA services after your explanation!
 
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BM243923

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I used JRA which is owned by a lady named Janet.

She is an advertiser on Tug as her ad comes up on the banner when you sign on.

She does all her transactions through the mail as she would only accept a cheque no credit cards to pay the fees,

It took a little longer but she did a good job. I would use Janet again.
 

tombo

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JRA services has closed 3 sales for me and I received excellent service on all sales ( both as the buyer and seller). Janet is great both in communication and she quickly completed the closings. They are also the least expensive closing company I have found. Feel safe to use them.
 

Dave H

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Rudy:

An estoppel letter should be customary for all closing companies, however, that said, it is not always. I have seen some that charge to get it, I get it for my clients as a matter of rule. I would hate to transfer the title and find out later there are unpaid maintenance fees etc. does not make for good client relationships.

No, it is not a cheap form of title insurance. To issue a title policy the correct way, public records are searched for 30-60 years back (depends on state) and a chain of title, kind of like an old abstract is done. The title agent then issues a title commitment to insure the property and when the deed is recorded, a update is done and the policy is issued.

The advantage to title insurance is if a defect or an unknown owner should show up at some point, you have an insurance policy to either fix it or payout to the limit of the policy to make you whole.

Shop for title insurance as I have seen some that charge 250 plus for a policy. We charge $150 for ours in Florida, again each state is different in the costs of a search and the policy itself.

As others have said for a couple of grand, I do not know if I would buy one, 10-20-30k I would not hesitate. It is all up to you and the piece of mind it offers you.

Hope this helps you .

Dave
 

GrayFal

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JRA services has closed 3 sales for me and I received excellent service on all sales ( both as the buyer and seller). Janet is great both in communication and she quickly completed the closings. They are also the least expensive closing company I have found. Feel safe to use them.

I am on closing number 4 and all I have is praise for the wonderful level of communication this company gives - they ACTUALLY answer their emails and phones - pretty refreshing!!!
Janet is a pleasure to deal with ....
 

rudy

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Thanks!

Thanks for the information.. now I'm a little less reluctant to bid on an ebay unit an duse JRA services for closing!
 
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