Discussion in 'Purchasing DVC' started by lovin'fl, Jul 9, 2013.
Any new ones?
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Our contract has been sent to Disney finally still waiting on ROFR will update once we know
We have bought a bit differently, both myself and the sellers are in the UK and as we know each other we are directly exchanging money in pounds rather than dollars and not using escrow.
320 points (2x 160 contracts) AKL dec use year
Total sale price £12000 using an exchange rate of 1.5 this is about $18000 total or $56.25 per point
Contract was sent to Disney 7/23
RobynPrincess---$65.25-$18000-320-AKV-Dec- 85/'12 320/'13 320/'14 sent 23/7
We passed ROFR
$90-$20611.25-210-BLT FEB- 210/'12, 210/'13, 210/'14-sent 7/03, passed 7/29
Now waiting for Estoppels which Sharon said could take 1 - 2 weeks after which we will receive closing docs.
This has been a three month process trying to pick up a really good priced BLT contract. Many, many rejections, but we are happy to finally have one that we feel really good about. BLT is our fourth resort, that addonitis is really dangerous.
Our first contract attempt
$82-$6126.00 (not sure on closing costs)-83-SSR-Feb-0/'13, 83/'14,-sent 7/29
$87-$26585-300-Bcv DEC- 273banked/'11, 600/12&13, 300/'14-sent 6/29, passed 7/29
$98 - $16,930 - 160 BLT - Dec. - 29/'12 - 160/'13 - 160/'14, sent 7/1, passed 7/29.
The waiting game begins for us. First contract sent in last sunday 7/21!
$71- $17750- 250 AKV- Dec- 34/'13- 250/'14- sent 7/21
Any word on how AKV is doing with ROFR?
$70-$10,955-150-SSR-Feb-0/'11, 0/'12, 0/'13, 150/'14-sent 7/1, passed 7/29
Another AKL here! We're waiting in good company
$74-$12,724.18 (includes closing costs and 2013 maint)-154 AKV-Dec-154/'13, 154/'14-sent 7/25
Not much ROFR activity in AKL, should pass.
$65-$23345-350-VWL-Dec-17/'12-87+252 borrowed '14 points/'13-16/'14-350/'15-sent 7/1, passed 7/29
Seller pays MF on all points used/borrowed, buyer pays prorated MF on '13 and '14 points above. Seller pays closing costs.
Good deal overall MVN, but I hope you aren't "paying prorated '14 MF" as you said. You will get a bill from DVC for '14 MF in January 2014, so if you pay the seller money for that item, you're giving them money for nothing. You will pay '14 MF to Disney for those points again in January.
$75/pt, $9750, 150 SSR Feb, 26 '13 0 '14, 7/2, 7/29. Seller to credit '14 MF at close
Not sure if I did this correctly. 75/pt was asking, pd $65
I'm not sure on the specifics, but I'll check now for sure! We don't close until after Christmas, so I'm under the impression that I pay what I owe to the closing company and the seller pays what he owes, and the closing company figures it out.
Quoting my contract, "Seller is responsible for the annual dues on the 263 points from the 2013 allocation which must be paid in full at the time of closing and seller is responsible for the annual dues on the 334 points from the 2014 allocation which must be paid in full at the time of closing. Buyer to pay the annual dues on the 87 points from the 2013 allocation which must be paid in full a the time of closing and buyer to pay the annual dues on the 16 points from the 2014 allocation in full at the time of closing. Buyer will then be covered on annual dues until January 2015."
Also stating my contract, "Buyer to receive 17 banked points from the 2012 allocation, which must be used by 12/1/14, 87 points from the 2013 allocation, 252 borrowed points from the 2014 allocation, which must be used by 12/1/14, 16 points from the 2014 allocation and all points from closing forward."
So, while the seller borrowed 252 points from 2014, I still get to use those while he pays the MF on them (plus the 82 that he apparently is using). I get the feeling that the seller has multiple contracts that he rents out points to make a little profit. In fact, the broker told me not to worry too much about the delayed closing since they have sold 19 contracts for this seller without a problem so far. So, the 19 contracts plus the delayed closing tells me he rents points out. Still not getting my hopes up too high until closing documents are signed and points are in my account!
Any suggestions/thoughts on the prorated MF on the 16 2014 points would be appreciated. Do I need to do anything different than what my contract says? Will the closing company handle the MF, or will they distribute the money to me to pay directly do Disney by January 31, 2014?
Ah. Looks like you're good ,and the closing company is going to be paying the dues to Disney for the '14 year as part of the closing. That's unusual, but logical considering when it is scheduled to close. I hadn't realized you would be on such a delayed closing.
Don't know if they will distribute funds to you, or if they will pay it direct. You should be able to clarify this fully, before you send money.
I just confirmed with the closing company that due to the closing date, they will collect all MF and send the money directly to Disney.
Thanks for looking out for me!
It should be what you paid per point...then the total you'll pay (to include the closing costs, annual dues and broker fee if at Fidelity).
The total is correct based on what I pay per point. The seller is covering closing. The thing I don't understand yet is how the 2014 MF is figured in. They said it will be handled at closing. I don't know if that means that the seller will pay part of the $9750 or if there is something else.
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