TUG MEMBERS: Joining TUG does not automatically register you as a user of the TUG Bulletin Board. You must register yourself.


*ads are disabled when logged in as a member*
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 24 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
    Dismiss Notice
  3. TUG started 25 years ago this month in 1993 as a group of regular Timeshare owners just like you!

    Check out our happy birthday post here: Happy Birthday TUG!
    Dismiss Notice
  4. TUG has now saved timeshare owners more than $10,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $10Million dollars
    Dismiss Notice
  5. Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
    Dismiss Notice
  6. TUG is trying out a new program that will trade you a TUG membership for a Timeshare resort review if you are an expired member, or even just a guest here on the forums!

    Read more here
    Dismiss Notice
  7. Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
    Dismiss Notice
  8. Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
    Dismiss Notice
  9. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice

Who in Hawaii can do an affordable escrow/closing?

Discussion in 'US - Hawaii Timesharing' started by BJRSanDiego, Aug 1, 2018.

  1. BJRSanDiego

    BJRSanDiego TUG Member

    Joined:
    Jan 8, 2012
    Messages:
    1,407
    Likes Received:
    129
    Trophy Points:
    173
    Location:
    San Diego
    I'm wondering if any fellow "tugger" has found an economical way to do a closing on a Hawaii timeshare?

    Before someone suggests LT Transfer, they are severely limited (by Hawaii law) from handling escrow.

    I spoke with Mary Pless today, one of the principals in LT Transfer. She explained that they sometimes do "soft escrows" (holding and releasing a cashiers check from buyer to seller) but cannot do that for Hawaii. Apparently the Hawaii transfer and escrow people have been able to get the Hawaii laws changed to favor the on-island escrow companies. Actually to give them a monopoly.

    LT Transfer can do all of the necessary paperwork for title changes, gifting, trust changes, etc. as long as they do not get involved in any way with holding or handling of any monies. Also, she said that if a buyer and seller are working together and 100% handling their own financial payment details that LT Transfer could do the necessary title transfer work. But they cannot be a part of, or involved in any way with the financial transaction.

    So, who have fellow tuggers used recently and roughly what did it cost? An acquaintance of mine got a quote from a Hawaii escrow company for around $1K - - seems like way too much....

    Please share your recent experience.....
     
  2. Braindead

    Braindead TUG Member

    Joined:
    May 23, 2016
    Messages:
    1,694
    Likes Received:
    648
    Trophy Points:
    173
    Timeshare Closing Services LLC
    Orlando, Florida
    Will do the transfer. Not sure how much they charge.
     
    BJRSanDiego likes this.
  3. artringwald

    artringwald TUG Member

    Joined:
    Apr 22, 2011
    Messages:
    2,538
    Likes Received:
    374
    Trophy Points:
    218
    Location:
    Oakdale, MN
    Resorts Owned:
    DRI: The Point at Poipu, 3 deeded weeks, 1 of which is in The Club.
    I'm sad to hear the news that they changed the laws in Hawaii. In Nov 2014 we bought a Hawaii timeshare week and LT Transfer handled everything, including the escrow. The purchase went smoothly and very efficiently.
     
  4. Dean

    Dean TUG Member

    Joined:
    Jun 7, 2005
    Messages:
    3,556
    Likes Received:
    247
    Trophy Points:
    298
    Timeshare Transfers in Vero Beach will do HI I believe. Around $500 IIRC for HI.
     
    BJRSanDiego likes this.
  5. BJRSanDiego

    BJRSanDiego TUG Member

    Joined:
    Jan 8, 2012
    Messages:
    1,407
    Likes Received:
    129
    Trophy Points:
    173
    Location:
    San Diego
    Dean and Braindead, thanks for the advice. That is a good starting point.

    Anyone else with suggestions?
     
  6. taterhed

    taterhed TUG Member

    Joined:
    Sep 28, 2011
    Messages:
    4,031
    Likes Received:
    1,393
    Trophy Points:
    298
    Location:
    Virginia
    Resorts Owned:
    Westin WKORV OFD
    Marriott's Grande Vista
    Worldmark x2
    Sent you a message.....
     
  7. BJRSanDiego

    BJRSanDiego TUG Member

    Joined:
    Jan 8, 2012
    Messages:
    1,407
    Likes Received:
    129
    Trophy Points:
    173
    Location:
    San Diego
    It is a shame that LT Transfer can't do the Hawaii closings that involve $ (they can do gifting, title changes and things not involving money). LT Transfer has a very low cost (plus are good to work with). It seems like the alternative firms start at around $500 and go up from there. It is a shame that the Hawaii transfer companies aren't charging something a bit lower....
     
  8. Maple_Leaf

    Maple_Leaf Tug Review Crew: Rookie TUG Member

    Joined:
    Jun 24, 2009
    Messages:
    607
    Likes Received:
    44
    Trophy Points:
    138
    Location:
    Toronto, Ontario
    Resorts Owned:
    Royal Dunes
    I think the Hawaiians probably consider that a feature, not a bug.
     
  9. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

    Joined:
    May 20, 2006
    Messages:
    25,951
    Likes Received:
    1,567
    Trophy Points:
    649
    Location:
    Ohio
    Resorts Owned:
    Marriott's Grande Vista
    Marriott's Harbour Lake
    SVV - Bella
    SVV - Key West
    They charge more because they can, they have a limited number of agents authorized to do escrow in Hawaii. There may also be high fees charged by the state to license an escrow agent and those fees have to be passed on to the customer. If someone could charge less, I suppose they would to get a leg up on the competition.
     
  10. JIMinNC

    JIMinNC TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    2,263
    Likes Received:
    870
    Trophy Points:
    323
    Location:
    Marvin, NC (Charlotte suburb)
    Resorts Owned:
    Marriott's Maui Ocean Club, Hawaii
    Marriott's Barony Beach Club, Hilton Head
    Marriott Destination Club Trust Points
    HGVC at Sea World
    We bought our Maui Ocean Club EOY week earlier this year using a mainland broker who used a closing/escrow company in Florida. We did not have to pay for a dedicated Hawaii escrow company. Deed was transferred by Maui County without issue.
     
  11. Dean

    Dean TUG Member

    Joined:
    Jun 7, 2005
    Messages:
    3,556
    Likes Received:
    247
    Trophy Points:
    298
    Normally they liaison with a HI company, this was true even before the recent changes.
     
  12. JIMinNC

    JIMinNC TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    2,263
    Likes Received:
    870
    Trophy Points:
    323
    Location:
    Marvin, NC (Charlotte suburb)
    Resorts Owned:
    Marriott's Maui Ocean Club, Hawaii
    Marriott's Barony Beach Club, Hilton Head
    Marriott Destination Club Trust Points
    HGVC at Sea World
    Not sure if they did or didn't liaison, but we paid the normal US closing costs of around $500-$600, not the typical $1000 Hawaii closing costs. Our closing was in Feb/Mar.
     

Share This Page