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1. A proper transfer document is prepared ( Deed, Transfer of Ownership or Assignment Paperwork)
- 2.
This document is
sent to the Seller for
execution.
Along with Settlement Statements to the buyer and seller. At
this time the remaining funds are requested from the buyer (to
be held in escrow).
- 3. The document are received from the Seller and Buyer and reviewed for proper execution. (It is important to follow the instructions included in your packet).
- 4. The document is sent for recording only at the time all funds have been received from the buyer and all documentation received from both Buyer and Seller.
- 5.
The Deed is sent for recording in the State and County the property is located in.
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If the document is a transfer of Ownership it is sent to the appropriate corporate headquarters of the resort to complete the transfer along with the transfer fee
- 6.
Once the Deed has been received in our office from Recording, a copy is sent to the Resort with the Ownership Change Notification Letter.
- 7. Finally, the original recorded deed is sent to the new owner for safekeeping.
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- How long does it take?
- There are two answers to this question:
-
- 1.
After we have confirmed with both parties and have received all necessary documentation to commence transfer, the documents should be mailed to both parties within 10 business days.( Pending 1st rights of refusal have been received )
- 2. The second part of the question is a function of how long the County in the State where the property is located takes to record a deed. Some counties have a turnaround time of 2 weeks – others can be up to six weeks in processing. (Extra work is put in to the counties that require more time to record. All documents are sent via Fed Ex to recording .) We know these counties that require more time and submit special recording instructions so that your closing can move forward in spite of these timelines.
