If we have the deed for our timeshare, what is the next step?

[frustratedas hell]

We have the title to our timeshare and have a potential buyer that approached us on TUG, what is the next step to make a sale safely and legally?

 

[DeniseM]

I recommend that you use a reputable, low cost timeshare title company to handle the whole thing for about $150-$200.

This is who I use:
L.T. Transfers
Lisa Short and Mary Pless
http://www.lttransfers.com/
readylegal@gmail.com
706.219.2709

They will provide a simple contract for you to use, and walk you through the title transfer.

 

[frustratedas hell]

Thank you, I will check them out. Having been scammed in the past, I am always a little leery of some of the sites.

 

[DeniseM]

This company doesn't buy or sell timeshares - they are a licensed timeshare title company - they handle the title transfer, like the title companies you use when you buy or sell a house. In other words - they handle the paper work to transfer the deed from the seller to the buyer.

They are also TUG members, and I have used them half a dozen times myself - absolutely Legit.

 

[silentg]

We have used LT transfer many times. Very helpful.

 

[Saintsfanfl]

++ on LT Transfers. There are licensed real estate brokers that use them. Even some of the Redweek full service listings are using LT for closings these days.

 

[Talent312]

Considering their well-deserved volume of business, I find it amusing that their offices are in Cleveland, GA - a small podunk town nestled in the mountains of North Georgia. But then, that is something of a vacation destination, so why not?

.

 

[frustratedas hell]

This company doesn't buy or sell timeshares - they are a licensed timeshare title company - they handle the title transfer, like the title companies you use when you buy or sell a house. In other words - they handle the paper work to transfer the deed from the seller to the buyer.

They are also TUG members, and I have used them half a dozen times myself - absolutely Legit.

If there is a fee to transfer the title, does the buyer pay this and not the seller?

 

[frustratedas hell]

This company doesn't buy or sell timeshares - they are a licensed timeshare title company - they handle the title transfer, like the title companies you use when you buy or sell a house. In other words - they handle the paper work to transfer the deed from the seller to the buyer.

They are also TUG members, and I have used them half a dozen times myself - absolutely Legit.

If there is a fee to transfer the title, does the buyer pay this and not the seller?

Is the buyer responsible for the transfer fee of the title if there is one usually?

 

[DeniseM]

That is negotiable - at the minimum, I would offer to split it.

When an owner is giving away a timeshare with no value, they often sweeten the pot by paying for the transfer fees.

IMPORTANT: The buyer may offer to do the transfer themselves - don't agree to that - it gives the buyer complete control of the transaction, and that is not in your best interest. You want to choose a reputable title company that will make sure things are done legally, AND the can spot a scam or any irregularities.

When they don't want to use a 3rd party title company - it's also one sign of a possible scam.

Even if the buyer is completely honest - that doesn't mean they know what they are doing, and they could accidentally screw up the title transfer and cost you a lot more than $150.

*As I stated previously, I once has a seller send me the deed to their home instead of the deed to their timeshare. ​

 

[vacationhopeful]

If you REALLY WANT IT GONE .... you, the seller, should be happy to pay the costs of the title work...preparing and the recording the deed as you (seller) has to sign the deed.

Usually, the buyer pays for the transfer fee to the resort and title insurance.

Now ... that does NOT mean, seller MUST PAY ... but.

I have had where I do NOT know the buyer ... and request that a transfer agent to HOLD a "Certified Check" for the purchase amount from the buyer ... until the transfer is DONE and new deed is recorded and sent to the buyer.

 

[frustratedas hell]

That is negotiable - at the minimum, I would offer to split it.

When an owner is giving away a timeshare with no value, they often sweeten the pot by paying for the transfer fees.

IMPORTANT: The buyer may offer to do the transfer themselves - don't agree to that - it gives the buyer complete control of the transaction, and that is not in your best interest. You want to choose a reputable title company that will make sure things are done legally, AND the can spot a scam or any irregularities.

When they don't want to use a 3rd party title company - it's also one sign of a possible scam.

Even if the buyer is completely honest - that doesn't mean they know what they are doing, and they could accidentally screw up the title transfer and cost you a lot more than $150.

*As I stated previously, I once has a seller send me the deed to their home instead of the deed to their timeshare. ​

Thank you, the buyer seems and sounds legit, we just didn't want to pay even more to sell. The form L.T. Transfers has looks almost like the buyer fills out information and then we do. One of the questions was "Does the resort require a transfer fee?" I assume since we paid one initially, then they do, but would they be forthcoming about telling me if I called them and asked? Could I give her L.T. Transfers information to her and get the ball rolling, if she is willing? I definitely want to go through a legal and legit transfer company.

 

[DeniseM]

LT Transfers probably already knows if the resort charges a fee - call them and ask them.

The form L.T. Transfers has looks almost like the buyer fills out information and then we do.

Correct.

You should email the buyer's info. to LT Transfers, and LT Transfer's info. to the buyer and asked for everyone to be cc'd on all correspondence, ASAP. They can guide you through the whole process.

Thank you, the buyer seems and sounds legit

They probably are, but that doesn't mean they have the expertise to execute a legal title transfer.

we just didn't want to pay even more to sell.

I understand that - but if you are having trouble getting rid of this property, then this isn't the time to worry about spending $150 that will protect your interests and insure a legal title transfer.

 

[frustratedas hell]

LT Transfers probably already knows if the resort charges a fee - call them and ask them.



Correct.

You should email the buyer's info. to LT Transfers, and LT Transfer's info. to the buyer and asked for everyone to be cc'd on all correspondence, ASAP. They can guide you through the whole process.



They probably are, but that doesn't mean they have the expertise to execute a legal title transfer.



I understand that - but if you are having trouble getting rid of this property, then this isn't the time to worry about spending $150 that will protect your interests and insure a legal title transfer.

Thank you so much, we just listed it for the first time on TUG, and have had 2 potential buyers, so if she is willing to pay the transfer fee, I am happy, otherwise splitting seems more than reasonable. This forum has been a great help.

 

[DeniseM]

If you are giving it away, you will also want to list it on the Bargain Deals Forum:

http://www.tugbbs.com/forums/index.php?threads/how-can-i-give-away-my-timeshare-on-tug.132509/