Are there additional costs associated with the closing?
A. There are some small additional fees associated with the recording of the deed. Typically, a recording cost of $10-$25 is paid by the Buyer. Additionally, a nominal transfer tax may be imposed. For example, Florida imposes a documentary stamp tax on the transfer of real estate equal to 0.007 times the value of the property transferred (rounded up to the next highest $100). As an illustration, if a timeshare in Florida is purchased for $4,670.00, then the documentary stamp tax is $32.90. The transfer tax is customarily paid by the Seller. Finally, it is possible that the resort may charge a small transfer fee. It is up to the Buyer and Seller to decide who should pay this fee. Please indicate on the Order Form who should bear this charge and we’ll take care of paying the resort at the time we notify them of the transfer.
