Title Company Payment

[TSman]

I've just won a timeshare from ebay, and the title company (Title Outlet) requests cashier's check or bank transfer to them to setup an escrow. I've heard about not sending cashier's check to the title company. Is it true? Is it safer to do the bank transfer?

 

[somerville]

I've just won a timeshare from ebay, and the title company (Title Outlet) requests cashier's check or bank transfer to them to setup an escrow. I've heard about not sending cashier's check to the title company. Is it true? Is it safer to do the bank transfer?

What have you heard about not sending a cashier's check to the title company? Once payment is made either way, it is out of your account.

 

[TSman]

I thought I've read it at one of the posts that cashier's check is not safe. However, I don't know about bank wire.

 

[gmarine]

A cashiers check is fine for payment. I have used Title Outlet in the past and they have been very good.

 

[TheTimeTraveler]

Be sure to send your check via the U.S. Postal Service, NOT Federal Express, UPS, or any service other than the U.S. Mail.

Why? If you have problems down the line you can then claim mail fraud and can get the assistance of the U.S. Postal Inspection Service to make the seller perform or get a refund.

They will not assist you if you use a bank wire. Be sure to MAIL your payment.

Hope this helps....

 

[TSman]

Thanks for the advice. I will then mail the cashier's check via US mail. I guess I will get the certified mail with return receipt. I can then make sure it gets delivered.

 

[Bill4728]

I thought I've read it at one of the posts that cashier's check is not safe. However, I don't know about bank wire.

You can safely send cashiers checks at any time. Cashier checks are not safe to receive from some unknown person because they are so often faked by scammers. So I'd never take one for an item which was going to be used soon. ie I'd never take one for a car sale that they are driving away the car. Taking one for a TS purchase should be OK if you are sure that the check will have enough time to clear ( could be several weeks) before you need the money from the check.

 

[davidvel]

Be sure you stay on top of Title Outlet. They are fine but will lag if you don't stay on top of them. Make sure the submit your SSN and copy of DL with the ORIGINAL packet with deed and ROFR. I would ask for an exact copy of the packet sent to Marriott (as well as deed when sent for recording, etc--each step of the way). They did not send SSN and DL and claimed they didn't know they needed to which caused delays.

 

[gmarine]

Be sure you stay on top of Title Outlet. They are fine but will lag if you don't stay on top of them. Make sure the submit your SSN and copy of DL with the ORIGINAL packet with deed and ROFR. I would ask for an exact copy of the packet sent to Marriott (as well as deed when sent for recording, etc--each step of the way). They did not send SSN and DL and claimed they didn't know they needed to which caused delays.

Most closing companies say the resort requires your SS# but they do not. I always tell them to put a note on the account that I will only supply my SS# to a supervisor at the resort who will provide me with the details of the safeguards used to protect owners personal information. This was done with Worldmark and Marriott and neither one of them bothered to ask for my SS#.

 

[TSman]

For security reason, I probably will not give them the SSN if they don't really need it. However, I will ask them about a copy of driver license. Thanks for the advice that avoid any delay.

 

[gmarine]

For security reason, I probably will not give them the SSN if they don't really need it. However, I will ask them about a copy of driver license. Thanks for the advice that avoid any delay.

I've never had a TS company ask for a copy of my drivers license.