Closing company recommendation for Hawaii deed

[bendadin]

I've decided to let my Wyndham Pahio Bali Hai go. But LT can't handle Hawaii due to that HI escrow holding law. So then who can do Hawaii deed transfers with escrow?

 

[DeniseM]

How much money are we talking about? The requirement to use a Hawaii escrow company is unenforced and uninforceable. In short - Hawaii has zero way of knowing if, or how, or where you held escrow. There is no mechanism in place to monitor/enforce this law, and it was simply a bone that the legislature threw to Hawaiian escrow companies.

 

[JIMinNC]

How much money are we talking about? The requirement to use a Hawaii escrow company is unenforced and uninforceable. In short - Hawaii has zero way of knowing if, or how, or where you held escrow. There is no mechanism in place to monitor/enforce this law, and it was simply a bone that the legislature threw to Hawaiian escrow companies.

This was the case in early 2018 when we bought our Marriott's Maui Ocean Club week. The broker used a Florida escrow/closing company and everything went fine.

However, since then, I have heard of at least one reputable broker who has stated they have stopped using non-Hawaii closing companies because they started having problems recording the deeds. So perhaps the enforcement has become better. That was more-or-less confirmed when we bought our Marriott's Waiohai Beach Club week this past spring, when yet another broker said there were no longer able to use the mainland escrow company they had been using and were now being forced to use a Hawaii firm. They used Old Republic Title and Escrow of Hawaii. When I sold our old Diamond week at Kaanapali Beach Club back in 2014, the broker used Fidelity National Title and Escrow of Hawaii.

 

[DeniseM]

That is peculiar, because recording a deed involves no info about escrow, and is usually done electronically using an automatic process.

 

[CPNY]

That is peculiar, because recording a deed involves no info about escrow, and is usually done electronically using an automatic process.

Thoughts on LT? Buying a one bedroom SVV and I suggested to the seller to use them since it’s generally a lower fee. I have never used them

 

[DeniseM]

They are great: professional, helpful, and inexpensive - I have used them many times.

 

[bendadin]

Personally I would use LT but they won't take Hawaii deeds that need escrow. They have been fabulous on what they have done for me.

Probably around $1000 if I am lucky.

 

[CPNY]

They are great: professional, helpful, and inexpensive - I have used them many times.

Awesome! Do they handle escrow and a purchase contract? I’ve always went through brokers in the past and just followed along with what they had me do.

 

[DeniseM]

To my knowledge, they do not handle escrow but I haven't looked into that lately - I'd contact them and ask. They will provide a purchase contract, and an estoppel letter.

L.T. Transfers
www.lttransfers.com
readylegal@gmail.com
706.219.2709

 

[CPNY]

To my knowledge, they do not handle escrow but I haven't looked into that lately - I'd contact them and ask. They will provide a purchase contract, and an estoppel letter.

L.T. Transfers
www.lttransfers.com
readylegal@gmail.com
706.219.2709

Thank you! I “bought now” on eBay maybe I’ll pay that way and use PayPal/ or credit card for protection? Thanks I’ll call them tomorrow though!

 

[DeniseM]

Most ebay resellers will only accept credit cards if you pay the merchant fee, which is usually around 3% - but the peace of mind might be worth it. I'd definitely consider it if the seller will.

PayPal does not permit the buyng or selling of real estate (including timeshares) using PayPal. That could be problematic, if you have a problem with the seller and want PayPal to back you up.

 

[CPNY]

Most ebay resellers will only accept credit cards if you pay the merchant fee, which is usually around 3% - but the peace of mind might be worth it. I'd definitely consider it if the seller will.

PayPal does not permit the buyng or selling of real estate (including timeshares) using PayPal. That could be problematic, if you have a problem with the seller and want PayPal to back you up.

Awesome. Didn’t know, thanks for the info. We agreed upon escrow with LT but if they don’t do that, I’ll pay through eBay and I’ll offer to pay the fee considering I’m saving money using LT.

 

[dioxide45]

LT won't accept Paypal or credit card. You can't pay through Ebay because that will go directly to the seller and then there is no escrow. With a private sale, it is just like buying a home. You can't buy a home on credit card. Also with Paypal, real estate transactions have no official buyer protection.

You are using LT Transfers for the protection of them obtaining an estoppel and using their escrow company. You must pay by check. If you don't want to pay by check, I will happily do so

 

[CPNY]

LT won't accept Paypal or credit card. You can't pay through Ebay because that will go directly to the seller and then there is no escrow. With a private sale, it is just like buying a home. You can't buy a home on credit card. Also with Paypal, real estate transactions have no official buyer protection.

You are using LT Transfers for the protection of them obtaining an estoppel and using their escrow company. You must pay by check. If you don't want to pay by check, I will happily do so

Check it is I guess.

 

[SmithOp]

Personally I would use LT but they won't take Hawaii deeds that need escrow. They have been fabulous on what they have done for me.

Probably around $1000 if I am lucky.

I used LT for the sale of Hawaii deed, the buyer sent a cashiers check to LT and they held it until transfer was complete, an informal escrow. It was $3k.

I wasn’t too concerned it was a TS salesman that purchased it, he said the price was better than his employee discount.


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[dioxide45]

I used LT for the sale of Hawaii deed, the buyer sent a cashiers check to LT and they held it until transfer was complete, an informal escrow. It was $3k.

I wasn’t too concerned it was a TS salesman that purchased it, he said the price was better than his employee discount.


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I don't think LT will do this anymore.

 

[gratiem]

For HI escrow, I can easily recommend Tiffany at Old Republic Title and Escrow of Hawaii. Of the 4 timeshare companies I have worked with, Tiffany is at the top. She is extremely responsive and proactively communicates status. She also had a very quick turn around on closing documents, which I very much appreciate.

Tiffany D.D. Data
Escrow Officer | Timeshare Services
T: T08.522.0356 | F: 808.522.0355
tdeguzman@oldrepublictitle.com
Old Republic Title and Escrow of Hawaii | Old Republic Insurance Group
900 Fort Street Mall, Suite 890 | Honolulu, HI 96813