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Anyone ever heard of Warren Ferris who buys TS?

Discussion in 'Ratings of Timeshare Related Businesses' started by ronandjoan, Apr 21, 2019.

  1. ronandjoan

    ronandjoan TUG Review Crew: Expert TUG Member

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    he has answered my ad on CL to buy my TS for a $500 fee. Procedure is to put the deed in his name and then pay the $500 ( plus whatever the recording fee was. ) if you don’t pay then , he puts it back in your name .

    How would that work?
     
  2. RX8

    RX8 TUG Member

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    Sounds fishy. Who is handling the actual transfer?
     
  3. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    Sounds like a deadbeat who wants to keep the $500 and lets the HOA hound him on future unpaid MF.

    Also, remember that to get it out of your hands it also needs to be transferred by the resort and not simply have the deed be recorded by the county. If you want to go this route, make sure you handle the closing with a closing company like lttransfers.com.

    Don't forget that your fellow timeshare owners will get stuck with covering for future unpaid MFs on your unit.
     
  4. ronandjoan

    ronandjoan TUG Review Crew: Expert TUG Member

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    Oh yes, one resort we own has hundreds of unpaid MF units (210 from one persons “company” ) , so we well know how our MF are I raised.
     
  5. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    Worst case is you send the recorded deed to the resort yourself to make sure it gets done. Of course this may cost you a fee, but you know it would be done. Need to be careful though, some resorts require something signed by the buyer indicating they are taking on the week. A signed contract may be enough. Also, worst case, if the week really doesn't have a lot of value, you end up losing out on the $500, but the week is still off your hands. May be okay for a week that otherwise has no value.
     
  6. ronandjoan

    ronandjoan TUG Review Crew: Expert TUG Member

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    Yes, I wondered what he would do with a deed by himself. Would be interesting what LT Transfers would do with him, we’re dealing with them now
    with legit buyers and they are so great!!!
     
  7. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    If
    If merely recorded but not transferred at the resort, the resort will still bill you the MFs.
     
    ronandjoan likes this.
  8. OldGuy

    OldGuy Guest

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    Ferris?

    I like his big wheels.

    :wave:
     

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