Buying contract from private owner

[Caren]

We've been looking at buying a contract from a private owner who happens to have one we like--it's not a current listing with any broker. What are the logistics? Do we need to go through a broker such as the Timeshare store? Is there anything we need to look out for?

 

[Sandisw]

You can handle it on your own, as you still have to go through ROFR through Disney, etc. and if you know what your doing, it should not be a problem.

I have read that brokers, if a seller already has a buyer, will help with the transaction for a set fee. I thought I read last year that it is about $500 or so.

Good luck!

 

[Dean]

We've been looking at buying a contract from a private owner who happens to have one we like--it's not a current listing with any broker. What are the logistics? Do we need to go through a broker such as the Timeshare store? Is there anything we need to look out for?

IMO, this represents a potential win/win situation. You should be able to get the contract somewhat cheaper and the other party can have more in pocket due to avoiding the commissions. Even if it's with a broker but you come across them by other means, you can often do this as most brokers have non exclusive contracts. The issue is finding the right person to work with. If it's someone you're very comfortable with, there are also potential savings on closing costs. For most though, it doesn't make sense to put the effort to go this route unless you have the seller lined up already. This option works best buying from a friend or relative type setup.

 

[Dean]

You can handle it on your own, as you still have to go through ROFR through Disney, etc. and if you know what your doing, it should not be a problem.

I have read that brokers, if a seller already has a buyer, will help with the transaction for a set fee. I thought I read last year that it is about $500 or so.

Good luck!

It's essentially the same process as being discussed the last few days on "Retitling the Deed" and similar threads.