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Experience with Resort Closings, Inc

bradsprague

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I am considering bidding on a ko olina week on Ebay, Resort Closings, Inc is handling the closing. Anyone have any experience to share?

Thanks and have a Merry Christmas:cheer:
 

Mandykins

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I just used them for my resale purchase in October and everything went smoothly, I'd recommend them! I like that they have a system that the seller/buyer can log into to check how the process is going. They were quick to respond to email inquiries and a pleasure to do business with.
 

gblotter

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Resorts Owned
Mountainside x 2
Maui Ocean Club x 2
Ko Olina Beach Club x 1
I had a very clean and pleasant transaction through Resort Closings earlier this year. Good communication and quick closing. The entire process took only 25 days from the time the eBay auction ended to the time when Marriott had the week listed under my name. The whole thing was surprisingly fast and trouble-free.

My only complaint is that their fees are a little steep ($475 in my case).

Based on this experience, I can highly recommend Resort Closings, Inc. to anyone considering a resale purchase.
 

Carolinian

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Most timesharers who use these multi-state closing companies have no clue as to whether the deed that has been recorded for them is valid to pass title in the state where the timeshare is located, so their responses will be just what they see on the surface.

Having been on another side of the situation as an HOA officer as well as having a legal background, however I see things from a different perspective. A number of HOA's in our area became concerned about how the deed chain from these out of state multi-state timeshare closing companies in most cases contained at least one deed that was ineffective to transfer title. That can create headaches for the HOA's down the road. When going through PCC's, these closing companies usually produce two deeds in the chain.

The question I would demand an answer to is the name of the person who will prepare the deed. Once you get that, look them up on the State Bar list of the state where the timeshare is located. If the name of the deed preparer is not there, you have a rogue closing company, which in many states is actually violating criminal law in their actions. In that case demand a properly qualified closer. If they balk, complain to eBay AND to the State Bar of the state where the timesshare is located.
 

Ron98GT

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Las Vegas, NV
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HGVC (7k Hawaii), Marriott (2-Bdrm L/O), & RCI Points (80k Grand View)
Most timesharers who use these multi-state closing companies have no clue as to whether the deed that has been recorded for them is valid to pass title in the state where the timeshare is located (?), so their responses will be just what they see on the surface.

Having been on another side of the situation as an HOA officer as well as having a legal background, however I see things from a different perspective. A number of HOA's in our area became concerned about how the deed chain from these out of state multi-state timeshare closing companies in most cases contained at least one deed that was ineffective to transfer title. That can create headaches for the HOA's down the road. When going through PCC's, these closing companies usually produce two deeds in the chain.

The question I would demand an answer to is the name of the person who will prepare the deed. Once you get that, look them up on the State Bar list of the state where the timeshare is located (?). If the name of the deed preparer is not there, you have a rogue closing company, which in many states is actually violating criminal law in their actions. In that case demand a properly qualified closer. If they balk, complain to eBay AND to the State Bar of the state where the timesshare is located.

What? A real property deed for the TS (or any other real property) MUST be recorded in the state and county where the TS is located. The TS deed is NOT recorded in the state of the closing company.

What? You are assuming that the only person that can file a deed for a TS MUST be an attorney? I know that some states such as Illinois require that an attorney be used in the sale of real property within that state, but you need to read the Illinois statutes regarding Timeshare sales within that state.

Although an attorney MAY be required to prepare a contract for real property sold within that sate, TS sales are/can be sold with only a deed change where an attorney may not be required. Again, refer to state statutes, you don't need to talk to the Bar of that state or an attorney. I think that the bar would laugh at you anyway when you mention a "Timeshare".
 
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Carolinian

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No, the problem is NOT closing companies recording in the wrong state. The problem is they use a form deed from a different state that is not valid to pass title in the state where the timeshare is located due to state by state quirks in real property law.

And the fact that a deed gets recorded does NOT mean that it is valid. The few things a register of deeds checks before recording is very limited and does not begin to cover all the things that could render a deed invalid.


What? A real property deed for the TS (or any other real property) MUST be recorded in the state and county where the TS is located. The TS deed is NOT recorded in the state of the closing company.

What? You are assuming that the only person that can file a deed for a TS MUST be an attorney? I know that some states such as Illinois require that an attorney be used in the sale of real property within that state, but you need to read the Illinois statutes regarding Timeshare sales within that state.

Although an attorney MAY be required to prepare a contract for real property sold within that sate, TS sales are/can be sold with only a deed change where an attorney may not be required. Again, refer to state statutes, you don't need to talk to the Bar of that state or an attorney. I think that the bar would laugh at you anyway when you mention a "Timeshare".
 

Free2Roam

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Club Wyndham, Quarter House, a handful of East Coast beach resorts
I've used Resort Closings for a few trasactions. The most recent one left a bad taste. Just horrible follow-thru.
 
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