Aruba transfer without closing company?

[ownsmany]

I am selling an Aruba property. The person buying doesn't want to pay for a closing co. They are willing to pay the transfer fee directly to the resort for
the transfer of ownership. They said they have done this before at the same resort.

I have never bought or sold a timeshare without the services of a closing company. I sent a note to the resort - to see what their thoughts are on it.

Has anyone done this before? I know as a buyer, I would want a closing co just to be sure of clear title. As the seller - is there any concern for me not
using a closing co, and just transfering the title with the resort for them?

I know normally the closing co transfers the "deed", but don't know if there is an actual deed on the aruba timeshares. It might just be the lease papers.

 

[vacationlover2]

Since you can't own land in Aruba, you don't really need a closing company. When I bought my Aruba property, I just used an escrow service for $100 to protect myself financially.

 

[Talent312]

If...
(A) you can provide the transfer document, properly executed; and
(B) your buyer trusts that you are not deliquent in fees or taxes, not subject to liens, and not going to disappear with his money...
Then it should not be a problem.

Its about as simple as a private motor vehicle sale. Your buyer hands you cash (or certified or cashiers' check), you sign over the title (or whatever document is required), and deliver it to the buyer. Your buyer takes it to a tag office (resort) to get a new title+registration.

 

[tombo]

Being the seller I might let them do it but I wouldn't like it. I don't know what can happen bad to the seller other than have the week remain in your name leaving you obligated to the MF's, but I have never bought or sold a week without using a licensed bonded closing company. It will be interesting to hear advice from others here.

 

[ownsmany]

wow - I didn't realize it was that easy. Each time I bougt an Aruba property, I used a closing company and paid for it.

If I'd have know then - what I know now .

 

[Blondie]

I have sold one at LaCabana, bought one at La Cabana and sold one at Carib Palm, all without closing agents. In each case sale papers were obtained from the resort, they were properly notarized, due diligence was performed with resort giving out all necessary info to buyer, and notarized papers were sent to the buyer (along with the owner's contract/documents) who also had them notarized and then sent them along to the resort with the check for transfer fees. It was that simple. Both resorts were immensly helpful.

 

[ownsmany]

I have sold one at LaCabana, bought one at La Cabana and sold one at Carib Palm, all without closing agents. In each case sale papers were obtained from the resort, they were properly notarized, due diligence was performed with resort giving out all necessary info to buyer, and notarized papers were sent to the buyer (along with the owner's contract/documents) who also had them notarized and then sent them along to the resort with the check for transfer fees. It was that simple. Both resorts were immensly helpful.

Great. That eases my mind about it.

 

[Talent312]

wow - I didn't realize it was that easy.

I when bought a TS from my brother, I mailed him a check, he mailed me a deed, I recorded it and sent it off to the TS company with a transfer fee. It can be that simple.

But if I were a buyer in an arms-length deal, I'd want to use an escrow service and not merely hope that the seller wouldn't deposit my check, and disappear or die, B4 putting title in the mail.
... But the buyer hasn't asked for our advice.

 

[James1975NY]

I would always use a licensed agent or resale entity when doing business like this. Although you don't need to have a title company handle this, remember, the buyer needs to have reassurance that the deal will be smooth and with no surprises.

 

[Larry]

I have bought and sold several and it's a very easy process. You contact the resort and they will tell you if the week is owned free and clear and they do the transfer by filling out notarized forms and signed by buyer and seller. They will then furnish new owner new deed and account number. I have done some that closed within six weeks and never had a problem.