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Regardless of how you were able to buy or sell your timeshare (on your own, thru a friend, a referral, the resort, the developer or thru a resale broker) always use a third party escrow company to properly process the paperwork. With the experience of over 6,500 timeshare transactions, I can assure you that the relatively small escrow fee could save you thousands of dollars, hours of time and avoid possible litigation.
NEVER BUY OR SELL A TIMESHARE WITHOUT USING A THIRD PARTY TIMESHARE ESCROW COMPANY.
The escrow company will properly:
1. Document the transaction 2. Request preliminary title information 3. Request loan, taxes and HOA status 4. Prepare necessary recording documents 5. Collect sale proceeds/costs from buyer 6. Pay off loan or set up new loan 7. Bring taxes and HOA fees current 8. Prorate all income and expenses 9. Obtain title insurance 10. Request deed recording 11. Notify management company of transfe 12. Provide exchange company transfer/membership forms 13. Disburse net sale proceeds to seller
Right to use and club type timeshares require less escrow steps, but a third party escrow is still recommended.