Resale market - clear title question

[cooper Junior Member Find all posts View Profile Close cooper]

We went to a presentation by a developer and of course they are trying to do everything they can to make the sale. When we mentioned the resale market they tell all kinds of stories of titles not being clear, several years of unpaid fees and so on.
So as I look on various websites and on ebay, how can I be sure I am getting a timeshare with a 'clear title'?
Thanks!

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

If you are uncomfortable, I'd recommend you work with a respected brokerage or reseller. They can provide you with additional peace of mind, as well as access to plenty of inventory. I'd also strongly recommend that you choose a legitimate closing agent with a history of performing closings at the resort you choose. Title searches and title insurance policies are available for most deeded ownerships- so the concept that you cannot acquire a resale interest and have confidence the title is clear is simply untrue!

If you are relatively new to resales, I don't recommend eBay as a venue.. While there are incredible bargains there, often you will be dealing with unlicensed third party resellers who force you to use an in-house closing agent. There have been horror stories about eBay buyers who dealt with issue after issue and ended up with a negative view of the entire industry because they were dealing such a reseller.

There really isn't any logical argument the resorts can make to combat resale pricing.. Developer sales people who resort to these scare tactics just realize they have nothing of value to offer you, and panic..

Buy resale! It simply makes good sense.

[philsfan Administrator Find all posts View Profile Close philsfan]

In the past, as a seller, I contacted the resort I was selling and gave them my buyers name and permission to discuss the status of my account with them. If a seller won't do the same for you, that is a bad sign.

You can also ask for a copy of the deed. This could help determine if there are any outstanding tax problems if your new resort resides in a county where they bill for taxes separately.

Insist on your own escrow company for the transaction. Some offer title insurance. In general, if you do enough research up front, title insurance is a waste of money but some prefer the peace of mind.