HOW DOES IT WORK?
Either the Buyer or seller will contact us via this site, telephone, or email.
Once we have confirmed all of the details of the transaction with each party, we will request delivery of
the agreed deposit or funds sufficient to cover our fee and all transfer costs, whichever is greater. Once received, the funds are securely held in our closing trust account and a file is opened.
The Seller will send us a copy of their recorded deed. If the property is not a deeded property, then their Membership Certificate, or whatever document they were provided with when they purchase the timeshare that proves their ownership. If you do not have a copy of your recorded deed, we can help you to obtain a copy yourself or we can order a copy for a nominal fee. We verify all account information with the resort and/or management company, including, but not limited to, maintenance fee information, special assessment information, and transfer fee information.
If you have requested a title insurance policy (loan payoff information), we will order a title search for you. However, Title insurance is not required.
We prepare all necessary transfer documents including, but not limited to, a Deed (assuming the timeshare is deeded property), Closing Statement, etc., and send the documents out to the parties with very specific instructions regarding how to execute the documents. You receive the documents, execute them properly, and return them to our office. At that time, the balance of the funds would be requested from the Buyer, as detailed on the Buyer’s closing statement.
The Buyer’s funds are securely placed in our closing account and the documents are reviewed. Assuming the documents have been executed completely and correctly, the Deed is then sent to the appropriate County and State recording department. If the property is not deeded property, then all required transfer documentation is sent to the resort for final processing.
When the recorded Deed is returned to our office, the the original recorded deed is mailed to the new owner, and we send a copy of the recorded deed to the resort and/or management company, to advise them that there has been a change in ownership.
HOW LONG DOES IT TAKE?
Normally, and there is no guarantee, recording is completed within 30 days of receipt of the documents. The closing process will take thirty to sixty days, but can take longer depending how quickly the parties execute and return the documents to our office, which recording agency the Deed is being sent to, and how quickly or slowly they are getting the documents recorded and returned. Staffing issues at the resort can also affect the transfer time. We will process your transfer as quickly as we possibly can.