SALES INSTRUCTIONS

Register

To be eligible to bid at an auction go to the “Contact Us” page at this website and send us an email with “Bidder Registration” in the subject line.  This will ensure that we have your contact information for bidding purposes.  There is no cost to register.

Deposit Requirements

If you wish to bid at any of the sales listed at this site, you must post with Timeshare Trustee™ a deposit equal to five percent (5%) of the final bid you intend to make (see section 45.031, Florida Statutes). The deposit shall be applied to the sale price immediately after the auction closes. All bidders will be required to ADVANCE funds sufficient to satisfy the deposit requirement (see section 45.031(10), Florida Statutes). Advance deposits may be made by certified check or by wire transfer (simply email us to request wiring instructions), however, funds must be cleared in our account at least three (3) full business days before the auction in which you intend to participate. Checks will clear on the fourth (4th) business day and must be received seven (7) business days prior to the scheduled sale day. We will email you a confirmation of receipt. No deposits will be accepted after the above deadline.

Auction Procedures

Auctions will be conducted via email.  If you have registered and if Timeshare Trustee™ has confirmed receipt of your advance deposit you are eligible to participate in the auction.  Send an email to us using this website ten to fifteen minutes prior to the scheduled time of the foreclosure sale.  Make sure that the subject line names the resort and contains the word “sale”.  For example “Fabulous Timeshare Resort Sale”.  You will then be included in the group email for the auction.  Be sure to review the sales information for the resort at this website as it will contain the foreclosing party’s sale instructions.  Timeshare Trustee must bid on behalf of the foreclosing party in accordance with those sale instructions.  Normally, the foreclosing party’s maximum bid will be disclosed.  All bids will be circulated amongst all of the sale participants. A bid will become final if received by Timeshare Trustee™ and other bidders and one full minute on the Trustee’s auction clock has elapsed with no further bid received.  The winning bidder must pay the following costs in addition to principal and interest owed by the obligors: the fees and costs of Timeshare Trustee™ applicable to the unit week or weeks,; documentary stamp taxes ($.70 per $100.00, or a fraction thereof, of the amount bid); costs of recording the Trustee’s Deed and the Clerk’s statutory administrative fee of $50.00. These costs are included in the authorized bid amounts.  Final payment must be received from the successful bidder by Timeshare Trustee™ by 5:00 pm EST on the day of the sale. Sales are scheduled in the morning to allow time for wire transfers. If for any reason final payment is received subsequent to the 5:00 pm deadline, your deposit will be deemed forfeited and the remaining payment, if received by Timeshare Trustee™ will be returned to you.  Deposits received from unsuccessful bidders will be return mailed within 24 hours of the sale.

Certificate of Sale/Trustee’s Deed

Upon receipt of your final payment, the Trustee will execute, e-mail and mail a Certificate of Sale to you, showing that you were the winning bidder.  By statute, this Certificate of Sale is also mailed to all obligors whose unit weeks were sold.  Ten days after the sale, we will record a Trustee’s Deed in the county where the resort is located, transferring title to the unit weeks to you.  This deed is a quitclaim deed and comes with no warranties of title.