Need advise on Closing Company for Selling Tahiti Village Timeshare

[Larry Hallborg]

Hi. Can anyone give me advise on a reputable closing company as we are from Canada and selling our Tahiti Village Timeshare in Las Vegas to a friend of ours. Thanks

 

[theo]

Can anyone give me advise on a reputable closing company as we are from Canada and selling our Tahiti Village Timeshare in Las Vegas to a friend of ours. Thanks

Many TUG members, among whom I will include myself, are happy with LT Transfers. See http://www.lttransfers.com.
They are a small business, nice people, competent --- and among the lowest cost around. Figure on < $200 USD.

 

[TUGBrian]

For a list of closing companies that support TUG, you can go here



http://tug2.net/busiads.shtml

feel free to contact all of them to see who can provide you the best solution for your closing! (and mention you found them thru TUG)

 

[Larry Hallborg]

Thanks for info.

 

[Travel1]

I have a question/comment.

If you are selling to a friend (and assuming you completely trust your friend), does one even need to use a closing company to transfer the timeshare. In other words, can't the seller simply fill out the paperwork and submit the transfer request to the timeshare company to complete the transfer? Of course, the timeshare company may impose a transfer fee, but this would have to be paid regardless if a closing company is used or not. If so and a closing company is not required, then you may be able to save a few dollars here.

On the other, when it comes to money issues (even if the transaction involves a good and trusted friend), it might be worth the extra dollars in having a closing company handle the transaction.

 

[TUGBrian]

if you are familiar with the real estate requirements and procedures in the state the timeshare exists in, then you can most certainly handle the paperwork on your own (unless you live in a state where there are additional requirements like a lawyer etc).

 

[DeniseM]

I have a question/comment.

...can't the seller simply fill out the paperwork and submit the transfer request to the timeshare company to complete the transfer?

This isn't how it works - with a deeded timeshare, someone has to prepare a new deed, that complies with the laws of the state in which the timeshare is located, and submit that new deed to the county recorder's office for recording, and then submit the recorded deed to the timeshare title office.

Just as valuable, an experienced title company can guide you through the process, and spot any scams or unusual circumstances that you may not be aware of. I use LT Transfer, and they also provide a purchase agreement, and request an estoppel letter during the process.

Personally, I would never do it myself - it's worth the peace of mind to have it done professionally. It's usually less than $200, but if you mess it up and have to fix the title in the future, it could cost far more than that.

I also use LT Transfers.

 

[Travel1]

Thanks for the update. Does you answer also apply to timeshares that aren't deeded...in other words, timeshare clubs or point systems (like Worldmark)?

 

[DeniseM]

With travel clubs, and Right To Use timeshares (commonly found in Mexico) there usually isn't a deed, and the transfer is handled directly with the resort. I thought Worldmark was deeded, but not sure.

 

[theo]

Can't the seller simply fill out the paperwork and submit the transfer request to the timeshare company to complete the transfer? Of course, the timeshare company may impose a transfer fee, but this would have to be paid regardless if a closing company is used or not. If so and a closing company is not required, then you may be able to save a few dollars here.

It's certainly not rocket science to prepare a new deed yourself by "templating" the existing one and inserting new grantor and grantee info, but there is more involved --- and time is money too. Obtain estoppel, for starters. Most counties have specific document border and margin instructions with which you must comply. The "paperwork" to which you make reference is usually the preparation of a whole new deed (except for RTU "memberships"), notarized signature of seller(s) thereon, submission (with recording fee enclosed) to the appropriate entity (usually County) for official recording --- and forwarding of a post-official recording copy to the resort (with resort transfer fee, if applicable).

To each their own of course, but I'm happy to pay LT Transfers $150 to handle all of that "administrivia" for me --- correctly and without the delays or errors easily created in the course of taking the "DIY" approach. YMMV.

 

[AgelessTravel]

I recently used LT Transfers for the sale of my timeshare and was very happy with their service and price.