A deal that sounds too good to be true?

[rachaelg]

Thanks. That was my read on the situation as well...sellers not very happy, but not much info from buyers. I did communicate with the agent and was able to find out the use year, how many points are currently on the contract (none right now, 100 coming in October), and the current situation with the MFs (seller is paying monthly and buyer will assume those payments on transfer). You are right though, for a difference of a few dollars per point, in the grand scheme of things, it may be worth it to see what I can get with one of the more well-known resellers. No sense in rushing into something...who knows what tomorrow will bring!

 

[hlhlaw07]

Thanks. That was my read on the situation as well...sellers not very happy, but not much info from buyers. I did communicate with the agent and was able to find out the use year, how many points are currently on the contract (none right now, 100 coming in October), and the current situation with the MFs (seller is paying monthly and buyer will assume those payments on transfer). You are right though, for a difference of a few dollars per point, in the grand scheme of things, it may be worth it to see what I can get with one of the more well-known resellers. No sense in rushing into something...who knows what tomorrow will bring!

Just one thing to point out, I believe Disney requires MF to be paid in full at the time of transfer (someone will likely correct me if I am wrong) so that may be more money you would have to bring to closing.

But I agree with you, no point in rushing in to a contract that you don’t feel 100% about. It’s DVC, there are tons of contracts out there, and some believe the prices are only headed down. Also, don’t be afraid to throw out offers lower than asking. Just because they are listed at over $100/pt doesn’t mean it would be hard to get them in the $90s. There are plenty of SSR contracts passing on the ROFR thread in the $90s. I actually don’t even think it would be too hard, if you found the right seller, to get high $80s right now. For low $80s and $70s, those might be coming, but is probably too big of an ask right now. But in another couple months in a pandemic economy, those prices could become the new norm. Who knows?

 

[DaveNan]

I started negotiating a contract as a buyer through them once. The closing costs and fees were >$1500 more than standard closing fees (and way more than the fidelity $195 fee). These charges more than eliminated the "savings" by buying through them. Before you get too excited about the $80 per point contract, I would get the good faith estimate from them. That was when the extra fees were made clear and I stopped the deal. Once we got to final presentation of an offer, those costs were officially communicated. So, I can't say they did anything inappropriate, just make sure you understand the fee structure before you get emotionally attached. My experience was from 2-3 years ago, so things could be different.

 

[DaveNan]

I actually found the email. It was from back in 2018 and AKV was in the low 100's. I had negotiate a loaded 100 point contract for $100 per point. But Here'e what the email had in it from them as I was getting ready to turn in my deposit and signed offer:

$10,000 purchase price, firm.
$1,250 broker fee
$699 closing costs
$349 admin fee
$150 DVC Estoppel and transfer charge
$191.98 county tax

$12,639.98.

I negotiated and got them to move a little in the fees, but not enough so I pulled my offer. They were very professional about the whole thing. I would just make sure you get all the fees from them first.

 

[rachaelg]

I actually found the email. It was from back in 2018 and AKV was in the low 100's. I had negotiate a loaded 100 point contract for $100 per point. But Here'e what the email had in it from them as I was getting ready to turn in my deposit and signed offer:

$10,000 purchase price, firm.
$1,250 broker fee
$699 closing costs
$349 admin fee
$150 DVC Estoppel and transfer charge
$191.98 county tax

$12,639.98.

I negotiated and got them to move a little in the fees, but not enough so I pulled my offer. They were very professional about the whole thing. I would just make sure you get all the fees from them first.

Thanks for this advice. He did break it down for me as follows: closing using Jeffrey Sweet Title: $495, brokerage administrative fee: $750 for an "out the door cost" of $9245 on the purchase and taking over their monthly maintenance payments upon completion of the transfer. Still seems like a good deal. Ugh.

 

[DisMomKY]

Thanks for this advice. He did break it down for me as follows: closing using Jeffrey Sweet Title: $495, brokerage administrative fee: $750 for an "out the door cost" of $9245 on the purchase and taking over their monthly maintenance payments upon completion of the transfer. Still seems like a good deal. Ugh.

It’s my understanding you can’t “take over” monthly maintenance payments. They have to be paid in full at close

 

[Frederic Civish]

I was under the impression that links weren't allowed. What causes some websites to be banned and others not? The website was buyatimeshare.com and then the agent who followed up with me was from timesharebrokerassociates.com Thanks all for your help!

I can't tell you why some websites are banned and others aren't, since, like you, I just visit the board. I do know that there are some websites out there that have been trouble, so they should be banned.

You can list websites and web addresses, but you need to put in the full web address. Then, as I understand it, the board software will search to see if that website is banned, and if so, it will XXXX it out. I guess.

So, don't hesitate to put in a web address that you think is helpful. Just do it the right way and don't try to push it if it gets banned.