Question re: Selling

[librawoman]

This question has probably been asked numerous times, however, I still need advice. I have advertised my timeshare on the "bargains" listing and I have had some interest. One person asked me how much the closing fee is, also, how much the transfer fee is and if the deeded week is confirmed. I had asked for all costs to be covered but I do not know how to proceed. How do I find out this information? all of this makes me nervous and I'm not sure how to proceed. Any advice is greatly appreciated.

 

[ronparise]

This question has probably been asked numerous times, however, I still need advice. I have advertised my timeshare on the "bargains" listing and I have had some interest. One person asked me how much the closing fee is, also, how much the transfer fee is and if the deeded week is confirmed. I had asked for all costs to be covered but I do not know how to proceed. How do I find out this information? all of this makes me nervous and I'm not sure how to proceed. Any advice is greatly appreciated.

you should request an estoppel letter from your resort. This will detail what you own and how much (if anything) you owe on the mortgage and maintenance fees. Your buyer will want to see this and also a copy of your deed. (at least I would want to see these things if I was your buyer)

The transfer fee is imposed by your resort, You should be able to get that info by calling your owners services people. and it will probably be stated on the estoppel

The closing costs are the costs your closing company will charge to prepare the new deed, have it recorded at the local courthouse and forward the recorded deed to your resort. The recording fees charged by the county need to be paid as well.

You should line up a closing company to do this work, and they will tell you what they charge...There are companies that will help you do-it- yourself. They are not title companies, and will not do a title search or provide title insurance, And they dont provide escrow services (ie they dont hold the money) But they do prepare a deed for signature, and send it off to be recorded. Their fees are reasonable and their work is good



"Legal Timeshare Transfers" get recommended a lot here on TUG...Ive used them several times and I dont hesitate to recommend them to you...Mary or Lisa will answer the phone...tell them I said hello

LT Transfers
4513 Hwy 129 North
Cleveland, GA 30528
Telephone 706-219-2709
Fax No. 706-219-0092
www.legaltimesharetransfers.com

 

[librawoman]

This is extremely helpful. Thank you very much Ron.