The name Chicago Title has always been synonymous with experience, knowledge, service and technology. In a fast-paced, ever changing environment, addressing our customers’ needs quickly and efficiently translates directly into a faster and more satisfying escrow closing. Chicago Title offers its timeshare sellers and buyers a secure, neutral, and convenient third-party escrow service.
- Buyer and seller come to an agreement between them as to a purchase price and terms for the timeshare purchase. Seller obtains basic information from the Buyer to get the process started.
- Seller completes all forms through Chicago Title’s online application process.
- Seller will receive a confirmation e-mail from Chicago Title acknowledging receipt of the escrow application, and a request for any additional items necessary to open escrow. Chicago Title will also send the Buyer a confirmation e-mail with a request for any additional items necessary from Buyer to open escrow.
- Chicago Title will prepare escrow instructions and the appropriate transfer deed and closing documents, and transmit via e-mail to the buyer and the seller for their review, completion of documents (where necessary) signature(s) and return to Chicago Title.
- After all necessary documents are received back from Seller and Buyer in proper order, and any other documents, etc. are received from any other entity required in the transaction (HOA, title insurance, etc.), Chicago Title will send an estimated closing statement to Buyer requesting funds to close the escrow.
- Upon receipt of good funds from Buyer, Chicago Title will proceed to close the transaction.
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Upon confirmation of closing, Chicago Title will notice all parties of the closing, disburses funds to the seller, notify the resort’s management company (HOA) of the transfer, and transmit all necessary closing documents to Seller and Buyer.
- $395.00 escrow closing fee for timeshare properties located in the United States.
- $545.00 escrow and title insurance fees for properties located in California, Nevada, Arizona, Hawaii, and Florida. For cost of title insurance in other locations, please contact Chicago Title for a fee quote.
- $495.00 escrow closing service fee for properties located outside of the United States, no title insurance option available.
The customary time-frame for closing a timeshare re-sale transaction is 45-days commencing with Step 4 above. However, the escrow process can be accelerated or delayed by the timeliness of responses by Seller, Buyer and any outside entities required of the closing
NOTE: The above prices include only fees due Chicago Title for customary services, and do not include resort transfer or statement fees, recording fees, any state fees, taxes or recording costs, or credit card charges (if applicable). If your property is located in New York or on Indian land please contact Chicago Title for a different price quote.
Get started with the online application process now.
If you prefer to print paper forms, complete and mail/fax to Chicago Title, they are included below. Both opening forms must be completed by the seller and transmitted to Chicago Title.