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TSBO® is your
complete Timeshare Listing resource for Buying, Selling and
Exchanging Timeshare
Properties With the World!
Timeshare closing services, transferring a timeshare property.
Sellers/Buyers - start with a
timeshare sales agreement /
timeshare sales contract. Once you have the written agreement
between owner and purchaser, use a reputable time share closing firm
like we have below.
Owners/Renters - If you are renting (renter or
owner) and need paperwork for a timeshare rental then you can go
here:
http://www.tsbo.com/timeshare_lease.html
If you buy or sell a timeshare and are wondering how to handle
the timeshare closing and the paperwork to transfer a timeshare:
1. Use the
timeshare sales contract to finalize the agreement between
seller and buyer.
2. You need to use reputable legal firm like the ones below to
handle your closing. They will handle the paperwork for sales and
escrow the money for rentals. They use your sales contract to
close the deal. Services include escrow for sales and rentals
between the seller and the buyer/renter, a "no liens affidavit",
closing statements, and holding money in escrow.
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TSBO.com offers the below timeshare closing services as a matter
of resource only and has no involvement what-so-ever with their companies
nor do we profit from you using them, so please call them, ask many
questions, and do full background checks to see if they are reputable and
are right for you. If you do experience negative results with them, please
visit our TIMESHARE FORUM
and let our other visitors know of it, as well if you've had a good
experience too.
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Always use a reputable closing company to transfer the
ownership of your timeshares.
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For the purpose of
illustration, Back Porch Timeshare Closings
was used in the below example, this space can be filled with
any closing company you choose.
1. Should I
contact a closing service before I list my auction?
If you would like to use
Back Porch Timeshare Closings, LLC or another closing
service to handle your final transaction, it is recommended
that you contact this service in advance to find out the
total fees due at closing. If you want the buyer to pay the
closing costs, you will need to supply the exact cost within
your auction advertisement.
2. What do I need to do as
the seller?
If your property is deeded, you will need a copy of your
recorded deed to send to Back Porch Timeshare Closings, LLC.
If you are selling a membership or right-to-use, a copy of
your membership certificate or other documentation will
assist Back Porch Timeshare Closings, LLC with preparing the
appropriate transfer documentation.
3. What do I need to do as
the buyer?
Most of the initial preparations for closing the transaction
fall on the seller and the closing company. Seller must
provide authorization to the closing company to contact the
resort on seller's behalf. Seller must also provide a copy
of the prior deed to the closing company.
The buyer can assist in moving the transaction along quickly
by providing timely responses to any questions from seller,
the closing company or the resort.
When the closing documents have been prepared and delivered
to buyer, buyer should promptly review and sign all
documents and send the originals back to the closing company
with buyer's payment of the balance of the closing funds.
Buyer can speed the closing of the transaction by providing
all closing funds in the form of a cashier's check, bank
check or other immediately available funds. By doing so,
closing will not be delayed while closing funds are cleared
by the bank.
4. What is the cost?
When you close your auction with a winning bid or request to
exchange contact information through TSBO.com, you
qualify for a special closing cost of $325.00 through Back
Porch Timeshare Closings, LLC.
In addition to the $325.00 closing fee paid to Back Porch
Timeshare Closings, LLC, there are some nominal additional
fees associated with the recording of the deed. Typically,
there is a recording cost of $20-$25 which is normally paid
by the buyer. Additionally, a transfer tax may be imposed by
the state where the timeshare is located. Finally, it is
possible that the resort may charge a transfer fee. It is up
to the Buyer and Seller to decide who should pay this fee.
5. Who pays the closing
costs?
Closing costs are negotiated between the buyer and seller,
but traditionally the buyer pays all fees associated with
the closing process. Please be sure to research the total
amount owed and include this fee in your auction
advertisement to ensure that the buyer knows all costs
upfront.
6. What is involved in the
closing process?
The following is a summary of the steps in a successful
closing:
- Buyer and seller reach agreement on the
details of the transaction.
- Buyer and seller provide Back Porch
Timeshare Closings, LLC with completed order form and copy
of prior deed to the timeshare.
- Seller provides authorization for Back
Porch Timeshare Closings, LLCs to contact resort on
seller's behalf.
- Back Porch Timeshare Closings, LLC
gathers information from the resort: Letter is sent to
resort requesting completion of an estoppel certificate to
provide all current details concerning the timeshare
(outstanding fees, next available use, any transfer fees
imposed by the resort, etc.)
- Upon receipt of estoppel information,
Back Porch Timeshare Closings, LLC prepares all closing
documents (deed, closing statement, etc.) and sends them
to buyer and seller for signature.
- Seller sends all original, signed
closing documents to Back Porch Timeshare Closings, LLC.
- Buyer sends all original, signed
closing documents and buyer's closing funds to Back Porch
Timeshare Closings, LLC.
- Upon confirmation that all parties have
provided complete documents and all closing funds have
cleared, Back Porch Timeshare Closings, LLC (a) sends
original deed and related documents for recording, (b)
sends closing funds and copy of closing documents to
seller, (c) sends copy of closing documents to buyer, and
(d) sends notification to resort of the transfer of
ownership.
- Upon receipt of original, recorded deed
from recorder's office, Back Porch Timeshare Closings, LLC
sends copy of recorded deed to resort for final completion
of resort records.
7. What
if I just need an escrow service?
Back Porch Timeshare Closings, LLC or another third party
closing service may assist you with the collection and
disbursement of escrow funds. This is a "middle-man" service
to provide the seller with the safety of knowing that
purchase funds are in escrow before executing documents and
the buyer with the comfort of knowing that funds will not be
disbursed until all documents are executed and/or recorded.
Click here to review Escrow Service.
8. Do I pay TSBO.com?
TSBO.com is not involved in the final transaction and
does not hold or exchange any monies. Back Porch Timeshare
Closings, LLC or another third party closing service of your
choice can prepare your documentation and exchange monies in
order to safeguard your transaction.
Disclaimer: Back Porch Timeshare Closings, LLC may change
the prices or services offered at any time. TSBO.com
is not involved in the closing or escrow process and can not
be held responsible for any problems that occur by use of
any third party closing or escrow service.
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Reserved
TSBO® U.S.Trademark |
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