How To Transfer A Timeshare
You may have just begun the process of selling your timeshare by listing with VacationOwnership.com, you may be negotiating an offer on your property, or you may already have a buyer waiting and need to know what the next step is in completing the sale. In any case, VacationOwnership.com can assist you in the final steps of your timeshare sale and closing: legally transferring your timeshare to the new owner.
Transfer My Timeshare
What do I do once I have a buyer?
Once you have a buyer, the first step is to turn over the process of finalizing the sales transaction to a reputable timeshare closing company. While timeshare owners can and sometimes do draw up their own contracts, in most cases it is prudent to hire a professional to handle this sometimes complicated legal process.
If you are working with one of the licensed real estate agents at VacationOwnership.com, we can recommend a closing company with expertise in your type of vacation ownership. What’s more, we can assist you throughout the closing and transfer cycle to expedite the process. We know that closing a timeshare sale can be drawn-out, expensive and frustrating without professional assistance, so we are here to help.
As a seller, you will not have to worry about any additional fees as a result of the timeshare transfer process; closing costs are normally paid by the buyer unless you specifically negotiated otherwise.
What to Look for in a Closing Company
Choose a closing company that deals exclusively in timeshares. Some closing companies deal in many types of real estate in addition to timeshare. In such cases, the vacation ownership segment is probably not the company’s specialty, and it’s likely that they subcontract their timeshare closings to an external agency. In order to ensure the accuracy of all documents necessary to transfer your timeshare, you need a company with years of focused timeshare industry experience and expertise.
Choose a licensed and bonded closing company that offers global title services and that handles both deeded and non-deeded ownership types. Even if your timeshare is located in the United States and both you and the buyer are U.S. citizens, closing companies that can handle the more complicated aspects of an international timeshare transaction will be able to handle your timeshare transaction with ease.
Choose a closing company that offers Internet-based services. While it is possible to handle a timeshare closing entirely off-line, working with an online closing company is a great way to expedite the closing process. Online companies are normally easier to communicate with and are often much faster at transferring documents from the owner to the buyer (and then verifying them) than companies that rely on traditional mail.
Choose a closing company that charges a low, flat-rate for their services. Such companies will handle the entire closing from start to finish – including deed preparation, the escrow of funds, the timeshare estoppel certificate, closing statements and the review of all title work by a licensed attorney – and they won’t surprise you with additional charges or unnecessary services.