Whats involved in a timeshare closing?
We take these steps for every timeshare closing:
Once all the information and contracts have been received in our office.
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.
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.
 
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.
I'm the Buyer. How are my purchase funds held?
We request your Official Bank Check to be made payble to Duncan Realty & Escrow. These funds are held in our Escrow Account. Your funds are held safely in a separate escrow account. The purchase funds will be held until the contract of the parties has been fulfilled and completed.  Title Insurance can be obtained in most states. However title insurance is an extra charge. The charge will vary depending on which state the property is located.
Do I have to pay recording fees and transfer taxes?
All fees are included in your closing cost. Our services include paying all State and County recording fees and transfer taxes. If your closing costs are in excess of this amount your closing agent will advise you. 
 
I think my Resort charges a Transfer fee. Who is responsible for paying this fee?
Some resorts charge a transfer fee to process the paperwork. This fee is included in your closing cost.
Is Title Insurance included?
Title Insurance can be obtained in most states. However title insurance is an extra charge. The charge will vary depending on which state the property is located.
 
How do I know if maintenance fees and taxes are current?
Duncan Realty & Escrow requests an Estoppel Letter at no extra charge.Duncan Realty & Escrow makes sure there are no delinquent fees for maintenance fees outstanding at the time of closing. A lot of closing companies will charge an additional fee for this service WE DO NOT.

 

 

 
 
 
 
 
Im the Seller. When will I get paid?
You will be paid upon receipt of the following:
- For Deeded Property
1. As soon as your properly executed recorded deed has been received from the County Recorder your funds are released.

(Funds will be held until the deed has been recorded. This is protection for the buyer and the seller)
- For Membership or Right to Use Properties that do not have Deeds

1. The Properly executed transfer documents are sent to the resort. Once confirmation has been received from the resort that the transfer has been completed.( Funds are held until the transfer is completed. Once again to protect both parties). 

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Duncan Realty and Escrow 
  • 420 Deer Run Rd.
    Branson, MO 65616
  • Phone 816.424.1230
    Fax  816.424.1232
    Copyright 2006 Duncan Realty and Escrow , Inc. All Rights Reserved. This web page is a public source of general legal information dealing with the services Duncan Realty and Escrow can provide for a flat fee. This web page is not intended to be a source of advertising, solicitation, or legal advice; thus the reader should not consider this information to be an invitation for an attorney-client relationship, and should always seek the advice of legal counsel in the reader's state or country.

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