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question about giving away a timeshare

diane614

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I have someone interested in some of my Wyndham points that I am giving away and offering to pay part of the transfer/closing fees. Is there any way that I can get myself into a bad situation? Being scammed somehow? I cannot figure out how since I am not charging a price for these, but with so many con artists out there taking advantage of owners, I thought I should ask the experts on tug before I proceed. I intend to use a closing company that has been recommended on tug. I am a bit nervous.
Thanks for any help you can offer.
 

DeniseM

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If you use a reputable closing company, you will be fine - they will recognize any problems.
 

diane614

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Thanks so much Denise for your quick reply. One other question if you don't mind. Do I need to have a contract? I will be contacting the closing company that I saw you recommend. Is an oral agreement to take the timeshare enough?
Thank you again!
 

DeniseM

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Thanks so much Denise for your quick reply. One other question if you don't mind. Do I need to have a contract? I will be contacting the closing company that I saw you recommend. Is an oral agreement to take the timeshare enough?
Thank you again!

I would discuss this with the closing company. I've done two free transfers with other Tuggers - one with simple contract, and one without.
 
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