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This scam seems to be gaining momentum again!
The sales pitch is quite simple.. You receive a call from a "timeshare marketing company" that either states they have found a buyer or will advertise your property without any upfront fee.
They then tell you that you as the seller must be able to verify that you are delivering clean title to their buyer- so they require that you order a title search for your ownership. (Sometimes you are told that this cost will be refunded back to you at closing.)..
They will then give you a quote- often asking for $1,500 to $2,000!
You are tempted by the offer of a high priced sale, and plus they told you they didn't charge an upfront fee... You seem to remember that closing costs for residential real estate can be pretty high.. What do you do?
You should SAY NO!
I've come to the realization that for some individuals, being told something is a scam simply isn't enough.. If you feel that way, then here are some simple steps that you can take to find out for yourself!
First step: Offer to order the title search from your own closing agent or attorney! You'll be amazed how they will try to ensnare you into believing that only their choice of title agent will suffice!
Second step: Call a closing agent in the state where your property is located.. If you don't have a closing agent- simply click this link to be taken to a list.. http://www.timeshareforums.com/forum...nts-state.html
Third step: Ask them for a quote on how much you would be charged to simply order a title search for your property.
Fourth step: Compare for yourself! If paying $1,500 still seems reasonable- more power to you.. It's probably less dangerous for the general public when you don't have money in your pocket anyway...
If you don't have the time or energy for these four steps, here are some estimates for a simple title search that I've received.. (I believe I've covered most of the timeshare states. If you shop around, you can probably do even better in some states!).
Arizona- $50.
California- $50.
Florida- $50.
Hawaii- $50.
Nevada- $50.
North Carolina- $50.
South Carolina- $150.
Alabama- $225.
Alaska- $50.
Arkansas- $225.
Colorado- $110.
Connecticut- $275.
Delaware- $225.
Georgia- $195.
Louisiana- $250.
Maine- $225.
Maryland- $195.
Massachusetts- $225
Missouri- $100
New Jersey- $50.
New Mexico- $95.
Utah- $50.
Vermont- $110.
Virginia- $110.
The sales pitch is quite simple.. You receive a call from a "timeshare marketing company" that either states they have found a buyer or will advertise your property without any upfront fee.
They then tell you that you as the seller must be able to verify that you are delivering clean title to their buyer- so they require that you order a title search for your ownership. (Sometimes you are told that this cost will be refunded back to you at closing.)..
They will then give you a quote- often asking for $1,500 to $2,000!
You are tempted by the offer of a high priced sale, and plus they told you they didn't charge an upfront fee... You seem to remember that closing costs for residential real estate can be pretty high.. What do you do?
You should SAY NO!
I've come to the realization that for some individuals, being told something is a scam simply isn't enough.. If you feel that way, then here are some simple steps that you can take to find out for yourself!
First step: Offer to order the title search from your own closing agent or attorney! You'll be amazed how they will try to ensnare you into believing that only their choice of title agent will suffice!
Second step: Call a closing agent in the state where your property is located.. If you don't have a closing agent- simply click this link to be taken to a list.. http://www.timeshareforums.com/forum...nts-state.html
Third step: Ask them for a quote on how much you would be charged to simply order a title search for your property.
Fourth step: Compare for yourself! If paying $1,500 still seems reasonable- more power to you.. It's probably less dangerous for the general public when you don't have money in your pocket anyway...
If you don't have the time or energy for these four steps, here are some estimates for a simple title search that I've received.. (I believe I've covered most of the timeshare states. If you shop around, you can probably do even better in some states!).
Arizona- $50.
California- $50.
Florida- $50.
Hawaii- $50.
Nevada- $50.
North Carolina- $50.
South Carolina- $150.
Alabama- $225.
Alaska- $50.
Arkansas- $225.
Colorado- $110.
Connecticut- $275.
Delaware- $225.
Georgia- $195.
Louisiana- $250.
Maine- $225.
Maryland- $195.
Massachusetts- $225
Missouri- $100
New Jersey- $50.
New Mexico- $95.
Utah- $50.
Vermont- $110.
Virginia- $110.