Buyer insisting on copy of my driver's license???

[tschwa2]

I answered a wanted to buy ad. It's basically a giveaway. He is re-imbursing my 2019 MF and paying for LT transfer including a $50 escrow fee. This is for the same amount that I normally rent it for total may about $670. But out of that I am paying $250 in fees to LT.

I am not desperate to sell. I just have one or two extra odd weeks at this particular resort so I wouldn't mind shedding one or two.

The buyer wants a copy of my DL. I told him if the resort requires it for transfer I would send it to LT and they would provide it to the resort. He has told LT that he would like them to ask me for my DL and to send him a copy of it.

I think that's weird. He offered to send me his. I don't want a copy of his DL and I don't really want him to have a copy of mine.

Should I tell him the deal is off completely (because I think its weird), or should I tell him the deal is off if he needs that - remember his money is in escrow so it's not like he has money to lose- or should I go ahead. He is going to have my address both on the sales agreement and from the recorded deed. I don't want him having my picture and DL #.

 

[DeniseM]

I would only send it to LTT - there is no reason for the buyer to have it.

 

[tschwa2]

I would only send it to LTT - there is no reason for the buyer to have it.

I would send it to LTT but LTT is saying that he has asked them to send him a copy.

 

[brianfox]

Yeah, that would be an absolute dealbreaker for me. Lots of other freebie ads for you out there

 

[DeniseM]

I would send it to LTT but LTT is saying that he has asked them to send him a copy.

The buyer either doesn't know what they are doing (most likely), or they are a security risk. I wouldn't do it.

 

[tschwa2]

Thanks. That is my feeling too but I wanted to start this thread since he posted in the Marketplace that he could see it wasn't just me who would feel this way.

 

[DeniseM]

Anyone who understands what a title company is would be satisfied with the copy of your license being held by the title company.

 

[cyntravel]

In the past when using LTT we only gave our drivers license to be held by the title company.
No one else got a copy.

 

[Egret1986]

Just let him know the deal is off if he can't trust in the closing company. If the closing company verifies that they have a copy of your DL to this person, that should be enough. As stated by Denise, the buyer is most likely a complete novice, nervous and has no idea what a closing company (with escrow) does.

Don't go against your gut instinct that this is a ridiculous request.

 

[bogey21]

I would walk away from the deal. Period...

George

 

[Theiggy]

I’m new to timesharing, but I have no clue why the buyer would need your drivers license? To verify you are who you say you are? Isn’t that what LT Transfers is for? Also LTT should not be allowed to give out your private info?

Does the buyer also want a hair sample? DNA swab? Ok just kidding.

More likely being overly cautious but you never know.


Sent from my iPhone using Tapatalk

 

[vacationtime1]

The buyer has no legitimate need for your driver's license.

The verification that you are who you say you are (and therefore that the deed is signed by the right person) is the notary's acknowledgment of your signature on the deed; that is why we have notaries. The notary has a legitimate need to see your driver's license or other valid identification; the buyer does not.

 

[Jan M.]

The closing companies usually request you mail, email or fax them a copy of your driver's license. I know I did it with three timeshares we bought. And I believe I did it the first time I was involved in a transaction with LT Transfers but I've done two others since and haven't been asked for it again. It does verify that you are in fact you and that you are agreeing to have the timeshare transferred to you before they proceed. I would respond to the seller that you will send it to the closing company but will not give it to him or her. If they opt to back out of the deal, so be it. Some people just want to make sure everything is in order themselves and there aren't unnecessary delays. He or she may not realize what they are asking isn't going to be acceptable to some people and likely shouldn't be to anyone.

 

[WinniWoman]

I know as a "buyer" the transfer company wanted our drivers' licenses, but we did not ask for the sellers'! There is no reason. The transfer company handles everything and knows what they need and what they don't.