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I am in the process of selling some weeks in a private transaction. Do we need to go through a closing company or can an attorney located in the state where the time share is located draw up the new need and see that it is recorded and serve as an escrow agent?
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge, Shadow Ridge and Grand Chateau; Val Chatelle, Pines at Meadow Ridge and Twin Rivers in CO; Hono Koa OF (3); SBR(LOTS), SDO a few); WKORV-OFC-4 and Westin Desert Willow.
ttt here on TUG is really good at doing private party closings. He has done a few for us, and we have been very pleased with the speedy service, plus he lets us know how the process is going along via email. His prices are less than half any other company out there, and that is something everyone can appreciate.
He will get our business for every purchase in the future.
On small dollar sales, what I have always done is have the buyer send me half the money. Then I send the recorded deed, and the buyer then sends the other half of the money. That splits the trust factor, and it has worked for me so far.
Often the resort management knows of a local attorney who is reasonable on deed preparation.
If I have to do it again. I would forget a closing company. As I was informed by a TUGGer, they are only good for filling out paperwork. You have to do you due diligence anyway. I just wasted 499.00 so get the attorney. It would be cheaper and he would probably have more valuable knowledge to share with you.
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