Newbie question on selling timeshare

I am trying to sell a timeshare and I have a few questions regarding payment modes.

1. If I get a personal check or cashier's order and deposit with the bank, by which day would I know if the check is indeed good? I have heard that money can show up and then be later reversed when it is not good, if that is true, then by will I know that the check is good?

2. I have never used paypal to accept payment Do I need to set up an account with paypal? How does it work?

3. If we are using an escrow, does the escrow company verify that the check is good, i.e., bank the check and ensure that it clears?

4. Do I need to give the buyer 10 days to rescind? Timeshare is in Scottsdale, Az.

Thanks!

You cannot use Paypal - they permit rentals, but not buying or selling.

You should ask your bank when the payment will clear.

I strongly recommend using a title company to do the transfer - they can answer most of your questions and walk you thought it.

DeniseM said:

You cannot use Paypal - they permit rentals, but not buying or selling.

You should ask your bank when the payment will clear.

I strongly recommend using a title company to do the transfer - they can answer most of your questions and walk you thought it.

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Thanks. I have already written to LTT. I have used them before and plan to use them again.