Travel & Leisure Group operate as an estate agent combined with in-house conveyancing. Once a sale is secured, we follow the procedure outlined below/
- Buyers pay a deposit to reserve the points.
- On receipt of the deposit we finalise legal searches to establish ownership and the owners right to sell, that the ownership is free of encumbrances (there is no outstanding finance), the points are available for use and maintenances fees have been paid. Also RCI / II / Dial An Exchange status.
- When stock is cleared for sale we issue legal contracts to both buyer and seller. Should the stock not be cleared the deposit is refunded or alternative stock offered.
- A cooling-off period applies to all sales under the Code of Practice of ARDA (American Resort Development Association) and of the RDO (Resort Development Association) of which we are resale broker members.
- Full purchase monies are deposited in an independant solicitors clients account in Escrow until completion of sale - Wayman & Long of Clare, Sudbury, Suffolk.
- Balance of contractual sum is due in fourteen days from day of deposit.
- Legal transfer of ownership is carried out by our in-house conveyancing department and can take approximately three months depending on the constitution of the resort sold.
Foreign Land Registered properties will take longer.
- On completion of sale we submit the new ownership documentation to activate the solicitors Escrow account, which releases the monies to the seller, commission to our company and ownership title to the buyer.