Sellers who used TTS

[firstcruise]

This is a question for those of us who used the TTS and Magic Vacation Title. I listed my DVC contract with the TTS and it closed escrow 2/23 and the deed was recorded on 2/24. I verified the deed was recorded with the clerks office.

I have not yet received any proceeds from the sale. It's been 17 days since escrow closed and still no money. This seems like shady business practice on the part of the TTS and ***. I've inquired about the delay and was told the check was mailed 3/5. Now I live in CA, but even snail mail does not take that long to get here. Not to mention, why did it take 10 days from the recording to issue and mail the check?

Have other sellers gone through this same delay? If so, how long did it take you to receive the money?

At this point if it doesn't show up tomorrow I am going to contact the division that handles time share sales and log a complaint against both the TTS and ***. No one has been able to tell me why there is a lengthly delay.

 

[JimMIA]

I've sold two contracts through TTS/*** without anything but the most professional service. The delay you report sounds about normal to me. It doesn't surprise me that snail mail sent from Florida on Monday didn't reach you by Saturday.

Be patient, I'm sure everything is fine.

Also, be sure to come back and let us know when everything is resolved.

 

[dbs1228]

I have used both and would contact them again - snail mail is not very reliable at times. I received my proceeds of the sale within a week of closing - far sooner then I expected! I would give them the benefit of the doubt ask them to overnight a new check and put a stop payment on the 1st check. Hopefully they will do this without any charge to you. Good luck!

 

[backyardponder]

Personally, I think you are being too demanding on the time frames here. I don't work in the closing or escrow processing industry, but I think the timeframes you are dealing with are reasonable. Once the deed is recorded, I'm sure there's other paperwork which needs to be done. If someone said the check went into the mail on March 5th, it may not have gotten through the company's mail room and actually into the postal system until the 7th. You should have it in the next couple of days if it hasn't arrived already.

I have delt with TSS in the past and have nothing but praises for their work and professionalism. You will rarely find any negatives about them on these boards.

John

 

[firstcruise]

I have no issue with the service at the TTS. They did what I expected, but the last part seems a bit unrealistic to me. It shouldn't take this long to get a check, but I'll give it a few more days. Just wanted to see if this delay is the norm or if a problem existed.

Thanks for the replys.

 

[Quilter007]

We are going through a sale right now as well -- there was an option to have sale proceeds sent via overnight for a fee. If you didn't want to pay that fee, then proceeds would be sent via regular mail. For me the hard part is waiting for the buyer to cough up the notarized docs so that the sale can be finalized!

Check will most likely show up soon!

 

[dbs1228]

We are going through a sale right now as well -- there was an option to have sale proceeds sent via overnight for a fee. If you didn't want to pay that fee, then proceeds would be sent via regular mail. For me the hard part is waiting for the buyer to cough up the notarized docs so that the sale can be finalized!

Check will most likely show up soon!

Buyer does not have to have paperwork notarized at least for DWD properties only seller does.

 

[firstcruise]

We are going through a sale right now as well -- there was an option to have sale proceeds sent via overnight for a fee. If you didn't want to pay that fee, then proceeds would be sent via regular mail. For me the hard part is waiting for the buyer to cough up the notarized docs so that the sale can be finalized!

Check will most likely show up soon!

Here's the thing, we did select overnight delivery, but they did not do what we asked them to do. So, just because the paperwork has the option does not mean it will actually occur. All depends on the person handling the paperwork at escrow.

 

[firstcruise]

I wanted to follow up and say that the checks eventually showed up in yesterday's mail. The postmark was not stamped on the envelope, so hard to say when they were actually mailed out.

Beside the mistake of not overnighting when we requested it, they did not honor our request to have the proceeds sent to two different addresses. The sale was due to my X and I going seperate ways. Good thing we are actually very good friends and still are, but if this is the way *** does their work it's lacking. Our paperwork had other instructions and they failed to catch two simple things.

Overall, I was happy with TTS and would recommend and use them again. As for *** I would have serious reservations about using this company. There was no reason to delay the proceeds from being mailed and to not get the proceeds for 3 weeks after closing is crazy.