# Purchasing a used deeded timeshare - Diamond Resorts



## applepie (Jan 26, 2019)

Hello,

If I purchase a used deeded timeshare at some point, what types of things do I need to worry about for the title?  What kind of fees might I expect to pay?

When I was in Maui recently, they had timeshares for $3,000 or so, but the closing costs were $1200 because they went through a title company and that didn't even include transfer fees.  

Is it possible that I could buy something that requires me to pay 10 years of maintenance fees because the seller wasn't current on the maintenance fees?  How do I verify that?  Is it possible that somebody has a lien on it?  

What are your thoughts?


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## cindyc (Jan 26, 2019)

As I understand it, people cannot sell anything that is not 100% paid off and current on maintenance fees.  Here's my story:  I am just about to wrap up a purchase, but really it was an eBay auction win of $1.00, on a deeded week at Sedona Summit.  All expenses paid by the sellers and they did not charge me the $1.00.  The process started in October and at first, things were bouncing along.  But with the holidays, the last set of signatures got hung up on the seller's side.  When I contacted the broker in the first week of January, I relayed my concern about the delay and in particular about the sellers potentially being delinquent on the Maintenance Fees (MF), which were due by January 11.  They right away said they would contact the seller and furthermore if I paid 50% of the MF right away, they would cover the other half.  I have received notice that the deed is being recorded and the sale should be finalized in about 3 weeks!  

By the way, the end of the year is the best time to pick up a resale, since people want to avoid paying the next year's MFs.


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## applepie (Jan 26, 2019)

I love Sedona!  I hope you really enjoy your new purchase.


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## artringwald (Jan 28, 2019)

There's 2 parts to buying. You have to get the deed transferred to your name, and just as important, you have to get DRI to transfer the ownership. DRI won't transfer it unless all the MF's and loans have been paid off. They also want copies of ID's for both the seller and buyer to avoid transfers to Viking ship companies. Before buying, I always request that the seller provide an estoppel letter from the resort. It costs a small fee, but it lets you know exactly what they own, and whether there is any outstanding balance on the fees.


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