Found a buyer.. now what

[shergarr]

We found a buyer for our timeshare. Does anyone have any help on how to proceed? Exchange of money ( not much) and deed ( we own our timeshare)? I will look into LT Transfers tomorrow, but is there anything else I should be looking at?

Thank you for any suggestions.

 

[AwayWeGo]

Connecting with LT Transfers is all you need to do -- that, plus following through on the process that LT Transfers gets going for you.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[TheTimeTraveler]

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LT Transfers should be able to handle the entire transfer process for you. I will leave you their website below:
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www.lttransfers.com


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Do be sure that any monies owed are taken care of. An existing loan or outstanding maintenance expenses could gum up the transaction and void the deal.

Best of luck!





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[scootr5]

Connecting with LT Transfers is all you need to do -- that, plus following through on the process that LT Transfers gets going for you.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

LT Transfers should be able to handle the entire transfer process for you.

LT, unless it is a Wyndham transfer - they are no longer handling those.

 

[e.bram]

Xerox your deed, exchange grantor and grantee ,notarize . Arrange for exchange of cash and deed.

 

[chapjim]

Xerox your deed, exchange grantor and grantee ,notarize . Arrange for exchange of cash and deed.

He has a copy. Another one won't help.

 

[altiste1]

Do you have a written sale agreement? If you want to be able to enforce the agreement against the buyer, you'll need that. Even beyond enforcement issues though, a written sale agreement should make clear what the deal is. That way everyone knows what's expected. Make sure you include any issues around payment of the maintenance fees, next usage, and what usage gets transferred to the buyer. To name one known issue, if your ownership is Wyndham, it's not a given that the current use year's points transfer to the buyer, so the purchase agreement should specify what happens if they don't. What that looks like is up to you, but it should be spelled out so as to avoid a dispute down the road.

 

[AwayWeGo]

LT, unless it is a Wyndham transfer - they are no longer handling those.

Is there some other agency handling the Wyndham timeshare transfer process ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[scootr5]

Resort Closings out of Montana will do them, and there was another one mentioned in the Wyndham forum. There's always the DIY option as well...

 

[altiste1]

Redweek sends people to Dedicated Timeshare Services (https://dedicatedtimeshare.com). Reviews here on TUG have been mixed, but they're relatively reasonable on price.

 

[Carolinian]

Xerox your deed, exchange grantor and grantee ,notarize . Arrange for exchange of cash and deed.

For a low dollar or free transfer, that often works, except one should retype the entire deed, changing the grantor and grantee rather than photocopying it. A Register of Deeds may reject it as not an original document if photocopied.

I have never used LT transfers, but note that they are attorney owned and run, which gives greater confidence that they will correctly follow the law, which some of the layman-owned transfer companies have had a record of not doing.

Another option is to ask the resort if they have a local HOA attorney who does deeds for members. There have been times that some NC Outer Banks resorts had an HOA attorney who would prepare deeds for that resort for around half the going rate. By law, in some states using an attorney licensed in the state where the property is located is required unless one of the parties to the transaction prepares the deed, but in other states there is no such requirement. A properly run timeshare transfer company will generally have local attorneys availible to do that in states where it is legally required.

With a low purchase price, you probably just need to get a properly prepared deed, not a full closing service. Check with the local Register of Deeds on recording requirements.