Frequently Asked Questions

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A timeshare resale is a timeshare obtained from the secondary market rather than being bought directly from a resort developer.

Timeshare resales present a fantastic chance to become part of a vacation ownership brand at much lower prices than what you would find at retail. Developers typically mark up timeshare prices to cover the costs associated with marketing and selling to new owners. However, the secondary market enables eager owners to sell their timeshares directly to potential buyers, making it a more affordable choice for those interested in investing.

Timeshare resales present a real and affordable way to join a timeshare program. It's crucial to work with a trustworthy closing company known for its dependability and high-quality service. This approach will ensure a seamless and hassle-free buying experience that is handled promptly.

Timeshare Closing Services focuses on timeshare resales, managing the entire transaction to ensure a secure experience for both buyers and sellers, adhering strictly to legal protocols. It’s advisable to consider hiring your own attorney when purchasing a timeshare. Timeshare closing companies oversee the entire closing process, which includes preparing the deed, managing escrow funds, obtaining the estoppel certificate, preparing closing statements, and handling recording fees. They usually offer these comprehensive services for a single, affordable flat fee. Their work undergoes thorough review by in-house attorneys, guaranteeing that everything is handled correctly and without any issues.

Timeshare Closing Services, LLC is a fully licensed, bonded, underwritten, and insured title company that has been serving clients since 1999. We take pride in having completed more timeshare closings than any other firm in the industry. Regardless of our scale, we ensure that every client receives personalized attention and professionalism, making them feel like our top priority. Currently, we handle over a thousand timeshare transactions each month, all executed promptly and at competitive rates.

We offer vital assistance to both timeshare buyers and sellers, guiding them through the legal intricacies of title and financial transfers. Known for our dependability, we aim to simplify the transfer process, making it as seamless and stress-free as possible. Our mission is to set the standard in the industry, which we achieve with each successful closing.

Operating as an independent entity, TimeshareClosingServices.com is based in Orlando and specializes exclusively in timeshare transactions. Our well-established and efficient system for managing transfers and closings equips us with the expertise needed to facilitate your timeshare closing effectively.

- With over 20 years of dedicated experience in timeshare closings, we bring a wealth of knowledge to every transaction.

- Our services are fully licensed, bonded, and insured, ensuring your peace of mind.

- Our in-house legal team handles each case with professionalism and a strong commitment to exceptional customer service.

- We successfully manage more than 1,000 timeshare closings each month.

A deed serves as a legal document that enables the transfer of particular rights associated with a piece of real estate from one person or organization to another. It is essential in all dealings related to the buying, selling, gifting, or any other form of real estate transfer.

Joint Tenants (joint tenants with right of survivorship) refers to a situation where two or more individuals are listed as owners on a property deed. In the event that one owner passes away, the remaining owner automatically retains full ownership of the property, while the deceased owner's estate and heirs receive nothing. To remove the deceased owner's name from the title, the surviving owner simply needs to present a death certificate.

Tenancy by the Entirety: This arrangement allows married couples to jointly own property as a single legal entity. In this type of ownership, a creditor cannot claim the interest of one spouse to satisfy debts; only creditors who hold claims against both spouses can attach the property.

Tenancy in Common: When two or more individuals own property as tenants in common, each person possesses a specific percentage of ownership. These ownership percentages can vary and are based on the amount each individual contributed to the property's purchase.

A timeshare quit claim deed does not provide any assurances regarding the seller's interest in the property, the existence of liens, or any other claims on the property. This type of deed is applicable when no payment is made for the property or when it is transferred as a gift. 

In contrast, a warranty deed fully transfers the seller's rights to the buyer and includes specific guarantees from the seller. These assurances confirm that the seller has the legal authority to sell the property and that it will be free from any liens or claims from third parties.

The deed may specify that the property is to be held by the two Grantees as joint tenants with the right of survivorship. In this arrangement, upon the death of one Grantee, the surviving Grantee automatically inherits full ownership of the property, irrespective of the deceased Grantee's will. To establish clear evidence of this ownership transfer, the death certificate should be recorded in the public records of the county where the property is located.

A legal description of a real estate parcel provides a comprehensive account of the property as recorded in public documents, evolving through its ownership history. This description is crucial for transferring ownership rights. It's important to understand that the legal description is not the same as the street address and differs from the simplified version often found on property tax statements. A deed preparer must always refer to the legal description as it appears in the prior deed, unless the property being conveyed is a partial or distinctly different section from what was detailed in that previous deed.

Although a deed does not need to be recorded to hold legal validity, neglecting to do so can lead to serious complications. An unrecorded deed means that the Grantee's name and rights will not appear in the public records of the county's title chain. This absence of documentation can create scenarios where others may act without recognizing your ownership rights. For example, if the grantor takes on a lien against their property after you have received your deed, the question of whether that lien impacts your property could arise due to the absence of recording. Furthermore, a deceitful grantor might issue another deed for the same property to an unsuspecting third party. To protect the Grantee's rights, it is strongly advised to ensure the deed is recorded properly.

In Florida, for example, it is mandatory to record the deed in the county where the property is located. The Clerk of the Circuit Court oversees this recording process. The Clerk's office handles various responsibilities and usually has a specific department dedicated to the management of legal document recordings, including deeds.

Counties generally take about 2 to 4 weeks to process and return recorded deeds and documents. We are well-versed in the recording procedures used by counties and offer clear instructions to help ensure your recording is completed without delay. Keep in mind that if you wish to expedite the closing process, an extra fee will be charged.

Generally, the buyer is expected to pay the closing costs related to a timeshare, but this responsibility can be negotiated between the buyer and the seller.

Once the transaction details are confirmed, we will request the agreed deposit to cover any related fees and transfer expenses. These funds will be safely stored in our closing trust account. Unlike a standard real estate transaction, it is essential to fulfill the resort and condominium association requirements before the closing date; the seller is responsible for these transfer fees. Afterward, the seller will need to provide Timeshare Closing Services with a copy of their recorded deed or membership certificate. If you do not have your deed or certificate, we can assist you in obtaining a copy. Any fees for ownership verification will be included in the seller's expenses.

An Estoppel letter provided by the resort outlines the current status of the timeshare property. This document contains information about both paid and unpaid maintenance fees, along with other important details related to the timeshare's usage. It confirms availability for the upcoming calendar year and verifies that the week has not been previously exchanged or rented, ensuring that the new owner can occupy it without any issues.

Every resort has its own timeline for processing transfers within their system. We've noticed that these durations can span from just a few days to several months. This factor is solely managed by the resort and is not influenced by anyone else.

The seller typically covers the transfer fees, but there is room for negotiation between the buyer and seller regarding who will take on this cost. It is essential to inform the closing agent about the agreed party responsible for the fee, as they will handle the collection and ensure it is sent to the resort along with the required paperwork.

The Sellers Net Proceeds Estimate offers a detailed breakdown of the transfer fees associated with a timeshare resale. This estimate takes into account the typical expenses related to specific resort and condominium requirements, as well as county and state transfer taxes and recording fees. Often, these estimates are intentionally low to help sellers avoid unnecessary upfront costs. Approximately 48 hours before the closing date, the closing agent will provide the seller with an invoice reflecting any adjustments made throughout the process. There will be some minor adjusted costs linked to the standard closing, which must be settled before the closing date.

Some resorts require that they have the right to repurchase the timeshare at the same price as any other interested buyers. This condition should be clearly outlined in the initial sales documents given to the seller when the unit is purchased.

The answer to this question isn't straightforward, as every timeshare closing varies. Typically, the closing process may take as long as 90 days, but it can extend beyond that due to various factors, such as:  

• The speed at which all parties sign and return their documents  

• The recording agency that processes the deed  

• The time it takes for the recorded documents to arrive at our office  

At Timeshare Closing Services, LLC., we are committed to ensuring that your transactions are handled swiftly and smoothly.

For a deeded property, the seller will receive payment after we have acquired the correctly signed documents from both the seller and the buyer, and the funds have been confirmed as legitimate. In the case of a right to use or membership property, the seller will be paid once we have obtained the properly executed documents from both parties, verified the validity of the funds, and the resort has confirmed the ownership transfer.

Absolutely! You can resell your timeshare even if it is still financed. The amount you owe will be deducted from the buyer's purchase price at the time of closing.

Absolutely! No matter when or where you acquired your timeshare, you have the right to sell it.

If you have deposited your week with a partner exchange company, that period is no longer connected to the resort. Therefore, selling the resort timeshare does not impact your banked weeks. You can utilize the banked time yourself or offer it as an attractive bonus for potential buyers. Additionally, if you believe the time won't be used, you have the option to sell the weeks separately.