tango
TUG Member
I did a search and didn't find any matches. Has anyone had experience with this company? They are somehow connected with eMidsouth inc.
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Vacationclosings.com [Nov. 2008 Thread]
- Thread starter tango
- Start date
A gentleman bet...
I am not a gambler by nature, but in this instance I'd be willing to bet that Bryan Watson (principal in eMidSouth) may have established an "in house" closing entity. With low cost resales often providing slim profit margins, this would certainly be a good way to take in (guaranteed) additional pesos in each and every transaction. I know from personal experience that eMidsouth has used Resort Closings, Inc. in the past. It would only make sense (from eMidsouths' perspective) to eliminate that third party expenditure of time and money and turn it into income instead. This is pure speculation on my part, but it certainly makes sense (...to me).
I am not a gambler by nature, but in this instance I'd be willing to bet that Bryan Watson (principal in eMidSouth) may have established an "in house" closing entity. With low cost resales often providing slim profit margins, this would certainly be a good way to take in (guaranteed) additional pesos in each and every transaction. I know from personal experience that eMidsouth has used Resort Closings, Inc. in the past. It would only make sense (from eMidsouths' perspective) to eliminate that third party expenditure of time and money and turn it into income instead. This is pure speculation on my part, but it certainly makes sense (...to me).
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tango
TUG Member
So, the word on eMidSouth is that they are reputable, and by association then, one would also assume that their in house closing section would also be?
Not my words or viewpoint...
I would make no such assumption, personally, particularly regarding a new, inexperienced, unknown closing company (if indeed that's what they are).
In fact, if it is an available option (...and it may or may not be in your particular transaction...) I would instead suggest looking into utilizing (and paying) a disinterested, objective, third party closing company having no actual "affiliation" with the transaction whatsoever; one which represents only you. Call me a skeptic, but I am personally just not a believer in having foxes personally handle administrative matters within the henhouse. Your mileage (and / or opinion) may vary.
I would make no such assumption, personally, particularly regarding a new, inexperienced, unknown closing company (if indeed that's what they are).
In fact, if it is an available option (...and it may or may not be in your particular transaction...) I would instead suggest looking into utilizing (and paying) a disinterested, objective, third party closing company having no actual "affiliation" with the transaction whatsoever; one which represents only you. Call me a skeptic, but I am personally just not a believer in having foxes personally handle administrative matters within the henhouse. Your mileage (and / or opinion) may vary.
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In a recent e-bay auction, information about Vacation Closings say it is a subsidiary of Yes eMidsouthwest so the earlier thoughts about being owned by the same principal seem correct.
Interestingly they have a section about performing independent due dilligence and being comfortable before bidding. I requested the interval numbers and a copy of the deed for one of their auctions (lockout unit that only has one unit listed). The response was interesting. Original response below with follow up to my request for the info again. I'll probably send contact info to see what they have to say.
Having almost gotten into a deal I wasn't comfortable with with Redweeks4less, I'm more apprehensive about due dilligence BEFORE bidding
This is a DEEDED WEEK 26 (For deeding purpose only. The unit is Deeded - Unit [####], [bldg name]. The deed and all information on this ownership will be processed by the closing company to the new owner.
Thanks,
Kathy
Please send me your contact information and I will be happy to call you. I look forward to talking to you.
Thanks,
Kathy
Interestingly they have a section about performing independent due dilligence and being comfortable before bidding. I requested the interval numbers and a copy of the deed for one of their auctions (lockout unit that only has one unit listed). The response was interesting. Original response below with follow up to my request for the info again. I'll probably send contact info to see what they have to say.
Having almost gotten into a deal I wasn't comfortable with with Redweeks4less, I'm more apprehensive about due dilligence BEFORE bidding
This is a DEEDED WEEK 26 (For deeding purpose only. The unit is Deeded - Unit [####], [bldg name]. The deed and all information on this ownership will be processed by the closing company to the new owner.
Thanks,
Kathy
Please send me your contact information and I will be happy to call you. I look forward to talking to you.
Thanks,
Kathy
Carolinian
TUG Member
Any closing company that is multi-state in nature without using people who know what they are doing in each state they operate in should be avoided. I have seen way too many invalid deeds recorded in North Carolina by such companies.
Ask who will prepare the deed, and check to see if they are properly license to practice law in the state where the timeshare is located. Having a person not properly licensed charge for deed preparation is a criminal offense in many states, and if a company is willing to thumb its nose at the criminal law, can you trust them in any respect?
Ask who will prepare the deed, and check to see if they are properly license to practice law in the state where the timeshare is located. Having a person not properly licensed charge for deed preparation is a criminal offense in many states, and if a company is willing to thumb its nose at the criminal law, can you trust them in any respect?
You can also just request your own choice of closing agent!
The choice of closing agent is arguably the most important choice an eBay buyer can make, since that is the only real source of buyer's protection and impartiality with the transfer. If it is an in-house closer- they are employees of the seller, so should not be considered to be a true third party to the sale.
I seem to make the same statements in this forum quite a bit... They are simply common sense to me, but I'll say them again!
You are purchasing resale and saving thousands of dollars! Don't shortchange yourself by penny pinching on the closing... The only person you'll risk hurting is yourself...
Assuming you will be paying the closing costs- you have the right to request your own closing agent handle the transaction. If the seller won't allow it- simply move on to another seller!
How many of these threads about eBay debacles show buyers being hit with unexpected costs, higher than disclosed annual fees, closing delays, and countless frustration?
You hope to be buying a lifetime of vacations and enjoyment, not a year of heartache!
The choice of closing agent is arguably the most important choice an eBay buyer can make, since that is the only real source of buyer's protection and impartiality with the transfer. If it is an in-house closer- they are employees of the seller, so should not be considered to be a true third party to the sale.
I seem to make the same statements in this forum quite a bit... They are simply common sense to me, but I'll say them again!
You are purchasing resale and saving thousands of dollars! Don't shortchange yourself by penny pinching on the closing... The only person you'll risk hurting is yourself...
Assuming you will be paying the closing costs- you have the right to request your own closing agent handle the transaction. If the seller won't allow it- simply move on to another seller!
How many of these threads about eBay debacles show buyers being hit with unexpected costs, higher than disclosed annual fees, closing delays, and countless frustration?
You hope to be buying a lifetime of vacations and enjoyment, not a year of heartache!
A quick update. The company is actually wholesaletimeshare /bryanwaton (some favorable mention on TUG and 1400+ 100% feedback).
I spoke with Kathy and let her know that the layout of their auction was horrible and raised my suspicions. It really looked amateurish compared to their other listings I later looked at. Things did not align and a lot of scrolling was involved to try to find info in the listing. She said she was horrified when she saw it.
Also, the title said it was a 2BR lockout, but in the listing it only mentioned one unit number. While on the phone Kathy confirmed it was not a lockout. She said they were going to change the listing.
Assuming it is a reputable company, based on mentions on TUG, it goes to show that even reputable sellers have issues with listing as well so due dilligence is needed for every listing if one is considering e-bay. Even with due dilligence there is still some risk involved.
I spoke with Kathy and let her know that the layout of their auction was horrible and raised my suspicions. It really looked amateurish compared to their other listings I later looked at. Things did not align and a lot of scrolling was involved to try to find info in the listing. She said she was horrified when she saw it.
Also, the title said it was a 2BR lockout, but in the listing it only mentioned one unit number. While on the phone Kathy confirmed it was not a lockout. She said they were going to change the listing.
Assuming it is a reputable company, based on mentions on TUG, it goes to show that even reputable sellers have issues with listing as well so due dilligence is needed for every listing if one is considering e-bay. Even with due dilligence there is still some risk involved.