Need some help or have a Question?
Review the list of commonly asked questions below or call us
When does the seller get paid?
After all closing documents have been returned by both parties, properly signed, notarized and ready for recording and the Buyer's purchase funds have been confirmed as collected funds, then the net purchase price will be disbured to the seller. If the seller is in a hurry, we sugget an overnight courier delivery of the proceeds to the seller at a cost of $30.00.
What does it mean that the estate will terminate on a certain date in the future?
This is a standard clause in a timeshare. There is good reason. There is always a remote possibility that as a resort ages it becomes too expensive to maintain, the neighborhood may run down or the property may become more valuable. There is a provision in many deeds that it will be VOTED at the specified future date as to whether or not to continue the property as a timeshare project. The ownership does not cease. If it is decided not to continue as a timeshare, then the property would be sold and the proceeds liquidated and distributed to the owners.
How long does it take the Resort to update their records?
Each resort is different in processing time to log the transfer into their system. The process may take a few days or a few months depending on the quality of the resort management. This process is totally outside of our control.
Do you contact RCI or Interval International to determine the future booking of the property?
No. We handle the title transfer but we do not get involved in any of the reservation systems to book the property including RCI and II. We suggest that you directly make those inquiries if either party is booking the use with these systems.
Should I verify that a property is Oceanfront or Ocean View if represented as such in the sales process?
We do not get involved in such verifications and suggest that you visit the property before signing a contract or obtain written assurances from the management company of the resort that the property is "as represented" in the contract. Our sole focus is on transferring title and disbursing the proceeds as the parties agreed.
Why do you require a certifed check or wire transfer to deliver the purchase money?
SC Law Requires closing funds to be "collected funds" and a personal check is not "collected funds".