Closing costs are the costs for employing a closing company for holding escrow, performing title search, rewriting the deed, recording the deed and executing resort specific transfer documents.
We always recommend using a Licensed, Bonded, and Insured closing company.
Closing costs can be comprised of a few different fees. Each ownership will have it’s own requirements for transfer, set by the developer of that resort or vacation club. Generally closing costs will cover escrow and title search services as well as the fee that the developer charges for their part of the transfer process. Sometimes these figures are written into your purchase agreement separately, and that’s really just up to how the contract is written. This is why it’s important to work with a reputable broker to ensure all costs are clearly disclosed in writing before the transfer has begun.
