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Handling a closing for Marriott Mountainside

JudyS

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I am in the process of buying a Marriott Mountainside week from another TUG member, and would like some advice on closing.

The seller of the timeshare suggested we use First American Title, but First American Title charges a fee of $600 (plus Marriott's ROFR and transfer fees). I am more used to timeshare closings costing around $300. First American Title includes title insurance on all closings, which is probably the reason why they charge more. I can see why someone would want title insurance on a Platinum week, but the week I am buying is not Platinum and the purchase cost is low, so I don't know if title insurance really adds much.

I have done a number of timeshare closings in the past, but this one looks more complicated. I looked up the deed on the Summitt County website, and it seems that three deeds were initially issued: a Trust Deed, a Reconveyance, and a Special Warranty deed, all within a few days of each other. So, unless it turns out that only one deed is needed, I should probably use a closing company.

Do you think I need to use First American Title, or would another closing company work? Is there any advantage of title insurance on a low-cost week? (I assume if something was wrong with the title, I'd just get the purchase price back, which isn't much in this case.) Any suggestions for another closing company to use? Also, if I find another closing company and they want me to submit the paperwork myself to ROFR, what is the process for that?

Thanks in advance!
 

TheTimeTraveler

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I am in the process of buying a Marriott Mountainside week from another TUG member, and would like some advice on closing.

The seller of the timeshare suggested we use First American Title, but First American Title charges a fee of $600 (plus Marriott's ROFR and transfer fees). I am more used to timeshare closings costing around $300. First American Title includes title insurance on all closings, which is probably the reason why they charge more. I can see why someone would want title insurance on a Platinum week, but the week I am buying is not Platinum and the purchase cost is low, so I don't know if title insurance really adds much.

I have done a number of timeshare closings in the past, but this one looks more complicated. I looked up the deed on the Summitt County website, and it seems that three deeds were initially issued: a Trust Deed, a Reconveyance, and a Special Warranty deed, all within a few days of each other. So, unless it turns out that only one deed is needed, I should probably use a closing company.

Do you think I need to use First American Title, or would another closing company work? Is there any advantage of title insurance on a low-cost week? (I assume if something was wrong with the title, I'd just get the purchase price back, which isn't much in this case.) Any suggestions for another closing company to use? Also, if I find another closing company and they want me to submit the paperwork myself to ROFR, what is the process for that?

Thanks in advance!




Try www.DuncanRealtyandEscrow.com

The owner of the company is Susan Duncan, and she specializes in timeshare title transfers.

She also deals electronically with Marriott for the ROFR process, so it is very quick in getting that aspect done.





.
 

JudyS

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Thanks for the suggestion!

I tried contacting Duncan Realty, but without any luck. I used their web contact form on Wednesday, 11/23, and got an error. So I called their phone number, but no one answered. (It was mid-afternoon, but maybe they left early for Thanksgiving.) I left a voice mail, but they haven't returned my call.

The seller of the Marriott week wants to move forward, so I'm going to use First American Title.
 

m61376

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I'm surprised; they are usually very efficient and professional. You might try one more phone call and/or e-mail.
 

yumdrey

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Why not JRA Services, Inc.?
I just bought another Marriott week and JRA Services (Janet) replied back to me within 12 hours.
They also knew what is "legally required" for certain state/county for deed recording and explained about it in an e-mail.
Recommend this company!
 

JudyS

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Why not JRA Services, Inc.?
I just bought another Marriott week and JRA Services (Janet) replied back to me within 12 hours.
They also knew what is "legally required" for certain state/county for deed recording and explained about it in an e-mail.
Recommend this company!
I didn't know JRA Services handles Marriotts -- some companies don't want to deal with ROFR.

The seller had wanted to use First American Title from the start, and I didn't feel I could keep him waiting any longer, so earlier today I agreed to use First American Title. I appreciate the suggestions, though. I'll keep them in mind if I have another Marriott transaction.
 
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