Buying DVC Resale

[Pooh's-Honey-Pot]

Hi, has anyone here bought DVC resale? I’ve been looking in to it but it seems you have to pay by bank draft rather than credit card which I don’t feel happy with as no protection. How did you go about it from the UK?

 

[ozliz]

Not from UK but this one just popped up on my view. I’m in Australia and used Transferwise which I think may actually be UK based. The payment doesn’t go to the individual but the company managing the legal/real estate transaction so there’s not such a risk. There are lots of brokers out there who have been in business for many years and have all the required real estate licenses etc. so you can check them out online before sending money.

 

[alanandline]

I think you’ll find it is against US real estate law to accept payment by credit car, at least the full payment If not even deposit. I believe it is something to do with not us high credit cost means to pay for it.

I understand your reservations but if doing a purchase via resale you are going to have to use an established agent and take the chance.

One major piece of advice do not send the money using information just sent by email, or for me even just website posted. Do what you can to find a telephone number, even better if you can check this number from different sources. Then call them to check the account details. The reason is there are fraudsters who intercept emails and change the account numbers. I’ve a colleague whose customer did not do this and he lost £500k. It is not your banks fault as you give the instruction, it is pretty nailed on they would not refund you,

There are quite a few that have been around a good few years. DVCstore.com is one. If you watch Disunplugged DVC show they appear on that.

 

[Pooh's-Honey-Pot]

Not from UK but this one just popped up on my view. I’m in Australia and used Transferwise which I think may actually be UK based. The payment doesn’t go to the individual but the company managing the legal/real estate transaction so there’s not such a risk. There are lots of brokers out there who have been in business for many years and have all the required real estate licenses etc. so you can check them out online before sending money.

That’s helpful thank you!

 

[Pooh's-Honey-Pot]

I think you’ll find it is against US real estate law to accept payment by credit car, at least the full payment If not even deposit. I believe it is something to do with not us high credit cost means to pay for it.

I understand your reservations but if doing a purchase via resale you are going to have to use an established agent and take the chance.

One major piece of advice do not send the money using information just sent by email, or for me even just website posted. Do what you can to find a telephone number, even better if you can check this number from different sources. Then call them to check the account details. The reason is there are fraudsters who intercept emails and change the account numbers. I’ve a colleague whose customer did not do this and he lost £500k. It is not your banks fault as you give the instruction, it is pretty nailed on they would not refund you,

There are quite a few that have been around a good few years. DVCstore.com is one. If you watch Disunplugged DVC show they appear on that.

Good idea, thank you!

 

[Jon84]

We're in ROFR for resale at the moment. 28 days in, god knows how many to go!

Revolut will let you transfer to the Closing Company. They only accepted the deposit by credit card.

 

[Jon84]

One major piece of advice do not send the money using information just sent by email, or for me even just website posted. Do what you can to find a telephone number, even better if you can check this number from different sources. Then call them to check the account details. The reason is there are fraudsters who intercept emails and change the account numbers. I’ve a colleague whose customer did not do this and he lost £500k. It is not your banks fault as you give the instruction, it is pretty nailed on they would not refund you,

Anyone that works for a medium or bigger company should have had the Financial Security E-learning to avoid that!!

100% let them send you the details, then call them on an existing number to confirm

 

[Pooh's-Honey-Pot]

We're in ROFR for resale at the moment. 28 days in, god knows how many to go!

Revolut will let you transfer to the Closing Company. They only accepted the deposit by credit card.

Oh that’s handy thanks!

 

[Jon84]

Oh that’s handy thanks!

No problem!

Can also use them to transfer your Annual Dues to Disney

 

[Ruttangel]

Hi - I bought through Fidelity and Mason Title co last October from UK, paid for deposit on Halifax Clarity Card and then the rest as a bank transfer via XE.com.
As people have said the Halifax credit card is also able to pay the dues, interstingly I had $150 Disney gift card which you could use to pay off part of the dues.

Not going this year has meant I've rented the points for October trip.
If I can help let me know.

 

[Pooh's-Honey-Pot]

Thanks all! We’ve had an offer accepted and so now the waiting on Disney commences!

 

[Jon84]

Thanks all! We’ve had an offer accepted and so now the waiting on Disney commences!

Congrats! Where are you buying?!

 

[Pooh's-Honey-Pot]

Congrats! Where are you buying?!

SSR, we love it there. Beach Club would have been top choice but the contracts are 12 years less so this was best value for a place we love almost as much . Just love the freedom of being able to walk to DS!

 

[Jon84]

SSR, we love it there. Beach Club would have been top choice but the contracts are 12 years less so this was best value for a place we love almost as much . Just love the freedom of being able to walk to DS!

We're in ROFR for SSR too! The new rooms look amazing, the remaining contract length is good, and the value is amazing!!

Like you we've have loved to have Beach Club! - I do wonder what they'll do when the first contracts start to expire!

 

[BrerRemus]

Hi we are from the UK and used transferwise twice last year excellent service and cheapest way to transfer as initially used our bank to transfer the deposit so expensive.