How to close on a timeshare sale in hawaii

[PJS]

I have an interested buyer for my Xmas and New Year weeks at Westin KOR South. Deluxe (corner) Oceanfront. The buyer would like to spread payments over 2-3 years.

Has anyone ever done this?

Can anyone advise how I would pursue this?

I assume I just need a Transfer company of some sort? I saw two mentioned on another post, and forgot one name (the one I remember was LT Transfer)

Any recommendations?

Also, any idea of cost for closing, either this type of sale or just in general?

Thanks!

 

[TheTimeTraveler]

LT Transfers won't do timeshares in Hawaii.

Go to the Hawaii Forum and I believe you will find an answer there as to who is reputable and will do closings in Hawaii.









.

 

[rickandcindy23]

I wouldn't trust a buyer to pay over 2-3 years.

 

[BJRSanDiego]

What the OP is describing is similar to selling a house with a "Contract For Deed". In that case I recall that the deed is not transferred nor the deed recorded in the buyer's name until all of the payments have been made. So, in terms of a timeshare on payments, you would retain the deed. That means that YOU would be making the res's and probably paying the MF's (probably getting reimbursed by the buyer).

Why don't you suggest to the Buyer that they should get financing from a 3rd party, pay you, transfer the deed and be done with it. Perhaps a Home Equity Loan.

 

[PJS]

Thank you for the responses. I have another question now: does anybody know how long approval is valid for, if Westin chooses not to Exercise its rofr?