Buying from a friend?

Discussion in 'Purchasing DVC' started by RobynPrincess, Jun 6, 2013.

  1. RobynPrincess

    RobynPrincess Looking around

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    Just wondered if anyone knew how this works if I was to buy a contract from a friend. We would be paying a reasonable price so don't think Disney would
    ROFR but I guess you never know. But what about the paperwork side, how would it work?

    Thanks for your help!
     
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  3. vicki_c

    vicki_c DIS Veteran

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    Scroll down the board for the thread called "Buying from a friend" (or something like that). It was only from 3-4 days ago.
     
  4. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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  5. iluvthsgam

    iluvthsgam Mouseketeer DVC Gold

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    It works pretty much the same as any third party sale. You need to draw up a contract and submit it to Disney for a ROFR waiver. You can call member administration to ask about the process for submitting to the ROFR process.

    Depending on how close you are to this friend and how trustworthy they are you can either (a) file the deed yourself and save a bunch of money or (b) hire a closing company to do it for you, do the title search, title insurance, and the closing and spend some more money.

    Only you can decide what you want to do and what your friend feels comfortable doing. Doing it yourself is a little complicated but not too difficult, especially if your friend bought direct and there is no mortgage on the deed. If there is a mortgage that needs to be paid in full before Disney will allow the sale. If your friend bought resale you might want to spend the extra few bucks on a title search, just to make sure everything is kosher.

    If you do it yourself you need to decide to use a warranty deed or quit claim deed - different protections for seller and buyer on each. I am going through this process now (but with a gratuitous transfer) but the process is the same so let me know if you have any questions.
     
  6. RobynPrincess

    RobynPrincess Looking around

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    Thank you very much, this is really helpful :)
     

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