Complete Timeshare Closing Services
Let Us Handle Your Timeshare Transfer Safely and Securely
Whether you’ve just sold your vacation property, or you’re a proud new owner, choosing the right timeshare closing company is essential in ensuring your timeshare transfer goes as smoothly as possible.
At Timeshare Broker Sales, we’re always looking for new ways to simplify the timeshare resale process. Now, in conjunction with reputable closing companies, offers complete timeshare closing services for everyone – TBS client or not. For a low, one-time flat rate (to be added to transfer costs), we’ll handle all aspects your resale timeshare transfer; even if you bought or sold with someone else.
Why are we offering this service? We know how difficult it is for many individuals to handle a closing on their own, and we believe that everyone should have access to safe and secure timeshare transfers.
As experienced and licensed brokers, we handle timeshare closings every day. We understand the often confusing ins and outs of transferring a timeshare deed; and we only work with licensed and bonded escrow companies. Our timeshare closing services include:
- Title Search and Examination (aka Account and Usage Research)
- All ‘Purchase and Sales’ Documents Preparation
- Mailing and Collection of all Documents and Contracts
- Mailing of Contracts to Selected Closing Company
- Follow Closing to Completion (including overseeing the dispersion of escrow funds)
- Transferring of the Deed
- Recording of the Deed with Local Authorities
Below, you’ll find a more detailed description of each of these steps. For more information about our timeshare closing services, give us a call now at: 1-800-985-9946.
Basic Account and Usage Research (aka Title Search and Examination): After an “escrow” contract (essentially an agreement to close) has been initiated, the research phase begins. This phase of the timeshare transfer process includes a thorough search of relevant public records including: deeds, mortgages, liens, wills, divorce settlements and other documents potentially affecting a property’s title.
Title search also involves contacting the resort to confirm that the sellers in fact own the timeshare, the size and usage information are correct, the maintenance fees have been paid, if there is a mortgage on the property, whether any usage has been banked with an exchange company and finally, whether the taxes have been paid and are up to date.
Once appropriate account research has been conducted, a timeshare closing company will order legal papers and title commitments/preliminary reports to be reviewed and sent out to the appropriate parties (generally buyer, seller and resort).
Document Preparation: After the initial research phase, should everything “check out,” a closing company will then review legal and loan documents, parse out lender instructions and requirements, assemble charges and prepare closing documents.
These documents will inform each party exactly what they are buying or selling and what their financial responsibilities will be at the time of closing.
Collection of Funds/ Escrow: Once both parties are aware of their financial obligations the collection of funds can begin. A reputable closing company will collect all the funds necessary to transfer timeshare ownership and hold the money in a secure escrow account until the timeshare transfer is complete.
Closing the Transaction: These are the final steps in closing on a timeshare. With money in escrow, the seller will sign the deed and the buyer will sign their new mortgage. The old loan will be paid off and a new mortgage signed.
The seller, real-estate professionals (timeshare brokers), attorneys and closing companies then collect their payments. Finally, documents are then recorded in the county in which the property is located.
Post Closing/ Ownership Document Processing and Resort Notification: After the documents have been signed, the title agent will forward payments to any prior lender, record the deed and forward a copy to the Resort and the buyer. Many closing companies offer in-house attorney reviews at this stage as well.
That’s it! Your timeshare transfer is complete! For most transactions, the buyer will assume the closing costs, with the seller paying the commission to the broker (if applicable). The closing costs include administration fees, deed preparation, escrowing funds, estoppels certificate, closing statements, recording fees, and delivery of documents.
Buyers can expect to pay $400-$700 for a domestic purchase, dependent on the resort transfer fee. Purchases outside the US need to be priced separately. If you desire/require title insurance, you can expect to pay an additional $150-$300 for the policy.
Though it’s not always required, getting title insurance is the safest way to buy a timeshare. Title Insurance is an insurance policy issued by a closing company after the initial research phase. This policy represents the state of the title and ensures the accuracy of its search against claims of title defects.
Essentially, title insurance informs timeshare resale buyers about any potential liens on the property that the title search has uncovered and will insure against any liens that were not uncovered. The preliminary title report is issued after the title search is complete and before the policy is issued.
Timeshare Broker Sales Closing Services
For more information about our timeshare closing service, or to learn more about our timeshare resale and rental services, contact us today. We are a licensed broker and a BBB Accredited Business specializing in timeshare resales. We’re here to ensure your timeshare transfer goes as smoothly as possible, from selecting the perfect property to closing safely and securely. Don’t wait – contact us today and see what our clients are raving about!