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06/14/2010

CHT, Inc.
Las Vegas, NV
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Closing Companies

The following companies have agreed to do closings for our clients. Compare and select one or search for one on your own. We do not receive any compensation for your use of any specific closing company. Our concern is that the company be experience and qualified to do the service you need. These companies have a proven high quality track record.

IMPORTANT NOTE: The fees expressed below are for closing services only. Each state and county and resort can and sometimes does add fees which are not part of closing services. Those additional fees will be the responsibility of the owner to pay at closing. Each of the below companies can advise you of potential additional fees with your specific timeshare.

Trejesto Timeshare Transfers
Attention: Customer Care
Trejesto Title Transfers
1573 Lakeshore Drive
Suite #104
Branson, MO 65616

Leamon Cotton

Telephone: 1-888-803-9993
Mon. to Fri. 9am to 4pm (CST)
FAX: 1-888-803-9996

http://www.timesharetransfers.net/
transfers@trejesto.com

We will reduce the normal $355.00 fee to your clients to $300.00. That discounted fee will include an estoppel and up to $50.00 in recording fees

We will perform Closings for properties located in the following states:
Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kentucky, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nevada, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, West Virginia and Wisconsin. We can hold “escrow only” for all states. Additionally, we will send the transfer of ownership documents to the resort and also confirm transfer.

We will not perform transfers on any resort that is located on land leased from the Bureau of Indian Affairs. There are only a few of these resorts. The closing is time lengthy and very expensive.

We can facilitate transfers of any membership in the U.S. and all international memberships except those located in Africa.

Timeshare Appraisal by
Community Appraisal Team

Johnny Galvan
License#  AL037601

(888) 547-4533

Fees: $150 for short form. Long form appraisals will be priced prior to being ordered.

We've appraised over 8,000 timeshares in the past few years, in States, Resorts and Countries around the world!

We are licensed, bonded and insured. We are also one of a select few companies, certified with the IRS to do timeshare appraisals.

Ed. Note: It will be helpful to read our email discussion with Mr. Galvan.

We're most concerned with what you use for your comparables. It is our contention that eBay and other distressed sales don't usually qualify.

the IRS states that there are three basic comparisons:
1. Comparable Sales,
2. Capitalization of Income, and
3. Replacement Cost.
As for Comparable Sales they must include:
...the names of the buyer and seller, the deed book and page number, the date of sale and selling price, a property description, the amount and terms of mortgages, property surveys, the assessed value, the tax rate, and the assessor’s appraised FMV. . . . Only comparable sales having the least adjustments in terms of items and/or total dollar adjustments should be considered as comparable to the donated property.”

(Publication 561 - Determining the Value of Donated Property)
2. Capitalization is usually not applicable.
3. Replacement Costs are best found from direct resort sales, since it is difficult to find close enough approximation in size, location, use dates, etc. on the secondary market and the specific time of the appraisal.

In my thinking, resort sales are the best comparables for both 1 and 3. Quick dump liquidations don't even qualify for inclusion in an appraisal.

I absolutely agree and on any donation type fmv thats exactly how I get the value of this type property and use however I do take into consideration if there is saturation on a property usually a 10% adjustment. on comparable info at times it is sometimes impossible to get full info and IRS understands this and they do accept short form summary appraisals with less info as long as its 10-15% of what they originally purchased them for fyi.

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