Purchased Sheraton Vistana Villages on Ebay - now what?

[Slithern]

Hello all,

I purchased a 2bdr annual Vistana Villages Bella on Ebay. It comes with 81k options. The closing and escrow will be handled by Timeshare Title Inc. I assume because it is an ebay sale i should get title insurance. Do I need to get that through the closing company or independantly? Anything i should look out for in general regarding this sale? I don't mind babysitting it if i have to.

Thanks,

Bill

 

[calgarygary]

Bill, you will have to decide whether it is worth the added expense of title insurance. If you haven't yet paid for this purchase, request an estoppel letter from the seller and that may deal with your concerns over the purchase.

 

[tlpnet]

I closed one of my weeks with TImeshare Title. They do the transfer very much like a residential property transfer - every t will be crossed, and every i will be dotted. Because of this, you will be happy when it's over, but it may be painfully slow depending on the seller and other circumstances. You can babysit all you want, and it will not move it along. That is how I work with escrow companies too.

I was very happy to have worked with them on the actual transaction that I did because we found out that the original owner had space-banked with RCI a week that I purchased, and they made sure that that transfer was completed also. I want to say that they provide a title policy as part of their transfer services - you may want to check with them on that.

-tim