General Discussion

Anyone ever heard of "First Closings" title company?

Nov 11, 2007

I am considering purchasing a timeshare from someone who is using them. I can't seem to find them on the internet.


Patricia F.
Nov 12, 2007

patriciaf105 wrote:
I am considering purchasing a timeshare from someone who is using them. I can't seem to find them on the internet.

I've never heard of them, personally, and if you can't find this entity via the Internet, it may be that they are just the "in house" closing company of a "PostCard Company". That's far more likely if your purchase is a low cost eBay auction item. If that's the case, the closing costs are usually higher than normal AND you might also have the seller handling the closing paperwork, a potential "fox in the henhouse" situation. In other instances, the closing company is not actually "in house", but the PCC has a contractual obligation to have them handle all closings.

If YOU are the one paying the closing costs in this transaction, you should certainly try hard to select and pay your own closing company. Use a well known and well established company ---there are several around. Unfortunately, if it's a PCC seller on eBay, they may not even allow you to exercise that option, because of the previously mentioned contractual obligation. If you have no say in selection of the closing company, at least be very careful and diligent and read every word of every document you receive before signing anything. PCC's make lots and lots of advertising mistakes and you DON'T want to end up "closing" on something which turns out to be very different from what you THOUGHT you were buying.

Proceed with caution. CAVEAT EMPTOR (Buyer Beware). Good luck.


KC

Last edited by ken1193 on Nov 12, 2007 03:41 AM


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