Title search and Insurance

[sschneid]

After passing ROFR, does asking for a Title Search and Insurance add any significant delay to the closing process?
I've seen others who have posted that the process has taken longer than they had expected (1-2 weeks) and am curious if they opted for deed only closing or the full search and title insurance?

 

[JimC]

The Timeshare Store could give you solid time frames for each stage of closing.

But I suspect that getting all of the paperwork signed and returned is a major delay factor, followed by DVC's ROFR process and maybe financing (paying off or arranging or clearing funds). I would not expect title and insurance to be a lengthy process.

 

[rock_doctor]

It might add a week but it is your safety you really need to make sure there are no liens or any issues with the deed. Imho it is a must do. Spend the extra $50 and protect yourself. The whole process from the initial agreement to closing is honestly 60 days. An extra week (maybe) will not matter much...

 

[robert@dvcstore]

Any quote you may see on one of The Timeshare Store, Inc.® listings includes a complete title search and title insurance. Doing the search does not add any time to your closing. It is a normal part of the closing process.

Robert

 

[laura-k]

So do they do this with all contracts purchased from TTS ??

 

[robert@dvcstore]

Yes. All DVC purchases through The Timeshare Store, Inc.® will have a title search and title insurance included in the normal closing costs. It only protects the buyer.

Robert

 

[Dean]

It might add a week but it is your safety you really need to make sure there are no liens or any issues with the deed. Imho it is a must do. Spend the extra $50 and protect yourself. The whole process from the initial agreement to closing is honestly 60 days. An extra week (maybe) will not matter much...

I know others disagree but IMO, title insurance on DVC is just a way to jack up the price for very little protection. DVD won't let it close with a loan against it and the deeds are easily searchable for FL and SC. Plus all owners listed would have to sign. I can't really think of a scenario where it would offer any real protection other than maybe an IRS or bankruptcy situation. I don't think it'd matter for a divorce. The bottom line to me for DVC, and timeshares in general, is it's paying for a feeling and not true protection.

 

[DenLo]

I think most delays have nothing to do with title search but for numerous reasons the sellers delay getting their signed documents back to the resale agent. It could be simply that they are out of town to the other extreme where one of the owners is very ill.

Hopefully you won't experience any delays.