Anyone a TUG member here?

[elgerber]

Hi,

Here I am again, with more resale questions. I am wondering (please forgive this question) if you guys think buying a resale from the TUG classifieds is a good idea? And what the procedure would be when there is no broker involved? I know a closing company would have to be involved. I know what I want in my resale, but I don't know much about how the sales work without a broker.

Thanks!

Erika

 

[RobDoc]

You will have to agree on all aspects of the sale done without a broker- including how payment and closing will be handled.

You might consider using the services of an attorney to handle those details, before just sending a check for $10,000+ in the mail!

TUG is a great resource to locate a seller, but the details still need to make sense before getting in too deep with the sale.

Good Luck!

 

[wdwendyd]

We bought a DVC contract from a member on TUG. We used a Title company and wrote up our own contract by looking at other ones we had from our two other DVC purchases. Everything went great with no problems. If you would like more specifics, just send us a private message or e-mail.

 

[Dean]

A contract for DVC is pretty simple. Just use a law firm with a closing agent in the state in question (FL?) and all should be fine. All a broker is there for is to get the people to gether, get the contract done and send it to the closing company. Assuming you know enough about DVC to stay out of trouble, you should be fine. Just document the number of points, points accounting, who will pay closing, the closing date (or an approximation) and any maint fees that need to be accounted for. If in doubt, Timesharing today has a document set for a nominal fee you can get and use. I'm sure a number of people would be happy to tell you who we used for closing. DVC actually will tell you about a couple of companies they routinely work with.

As to whether buying from the TUG classifieds is a good idea depends on the deal. If the price and package are right for you, no reason not to proceed.

 

[elgerber]

Thanks for the responses. How does Disney fit in this way, with their approval of the sale and right of refusal?

Erika

 

[Dean]

Originally posted by elgerber
Thanks for the responses. How does Disney fit in this way, with their approval of the sale and right of refusal?

Erika

The closing agent is the one who sends it to DVC anyway so as long as you're using one, you should be fine. It's possible to submit it yourself to DVC and do closing on the cheap but as expensive as DVC is, I wouldn't try.