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Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 5677
Experience:  28 years of experience in General Practice, Real Estate Law and Estate Law.
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I want to sell my timeshare but the esgrow company wants me

Customer Question

I want to sell my timeshare but the esgrow company wants me pay off the past due maintenance fees be fore they proceed with the sale. I have check the validity of this Co. and it sounds reputable. The money owed in back maintenance fees is $3697.16. The owners are Velas Vallarta, Mex. with offices in LA. They have now turned me over to a collection Co. Can you enlightned me on this.? The money owed would have to be sent to the Esgrow Co. named True and Clear located in Framingham, Ma. They are asking that the money be sent to the Title Company. Respectfully. Samuel Mendez
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  P. Simmons replied 1 year ago.

My name is***** have over 16 years experience in the law. Should you like to chat on the phone I am happy to for a nominal cost. Let me know at any time during our question and answer session if you are interested I am happy to give you more details.

Sorry...I am not sure I understand. Are you asking if the timeshare company require you pay this money to an escrow company?

Customer: replied 1 year ago.
What is the phone number to call you Mr Phillips?
Expert:  P. Simmons replied 1 year ago.

I will send the phone call offer...if you accept we can chat on the phone

Customer: replied 1 year ago.
I wanted this Co that wants to sell my Time Share to take the amount owing out of Esgrow but they said that Velasquez Vallerta wants the amount due paid up front before they release the time share for sale. Another question, what can they do to me if I just walk away.?they have already turned me over to a collection agency. Sincerely. S. mendez
Expert:  Attyadvisor replied 1 year ago.

I am different attorney the attorney that was assisting you opted out. As far as selling your timeshare we would need to look at the agreement you signed when you purchased the timeshare. In every timeshare agreement I have read they require payment of any fees that are due and owing in order to allow the sale to close. We need to see if they have the legal right to stop your closing unless you pay the fees in advance or if they can be paid at closing. What the escrow company is telling you is correct unless you do not actually owe the fees. The maintenance fees are always a sticking point for people that purchase timeshares. Since there is generally no cap on the fees unpaid they can add up quickly. Do you have a copy of your timeshare agreement? As far as the collection agency information timeshares can report unpaid maintenance balanced on your credit. We would want this to be settled as quickly as possible so it does not continue to impact your credit. If you just walk away this will remain a credit issue. As far as other actions the timeshare can take against for walking away we would need to look at the agreement.

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