Buying resale from the UK

Discussion in 'UK DVC Discussion' started by meryll83, May 8, 2012.

  1. pinklotusflower

    pinklotusflower Mouseketeer

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    We’ve just used Hifx for our DVC re-sale contract purchase, it was really easy. You can choose to specify an exact USD amount to send it then calculates the amount you pay and I used my debit card then with no issues. You get a good exchange rate and there was no fee.

    I haven’t had to pay any annual fees yet but plan to open a US bank account on our next trip and transfer money in using Hifx and you can then pay monthly.
     
  2. meryll83

    meryll83 All it takes is faith and trust...

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    Thanks for this - did my steps above sound right?
     
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  4. pinklotusflower

    pinklotusflower Mouseketeer

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    you set up your account with them and then when you get your closing docs transfer the money from your bank account to your Estoppel account that you are given by the closing company at the beginning. If your using HIFX there is a video that you can watch that goes through the process and you get a confirmation when the money is received. I found it really easy, the only issue I had was with my bank, as I was transferring a lot of cash they stopped the transaction until I confirmed it was a genuine transaction.
     
  5. finchy3

    finchy3 Mouseketeer

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    You request the exact amount of $ you require.
    We have bought resale 3 times and used hifx, it was seamless.
    Annual fees we pay it on our Halifax clarity card, giving us the best conversion rate.
     
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  6. meryll83

    meryll83 All it takes is faith and trust...

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    I have a Clarity card, so that would be a good option for maintenance.

    Is there only a set time of year you can pay this off, or e.g. can you ever pay it early if the exchange rate is good?
    If it is a set time, this might be where my FairFX card could come in handy - buy dollars when the rate is good and pay off with this card when the fees are due...
     
  7. pinklotusflower

    pinklotusflower Mouseketeer

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    we plan to open a US bank account when we're next in Florida as we can then transfer money to the account when the exchange rate is good and you also have the option of paying annual dues monthly. If your paying in a lump sum you have to pay in January which each year the exchange rates seems to be lower for some reason.
     
  8. meryll83

    meryll83 All it takes is faith and trust...

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    Can you do a card payment for fees rather than just a bank transfer though?

    And you can choose lump sum in Jan, or what's the alternative? 12 monthly payments? Is it any cheaper to do lump sum?
     
  9. meryll83

    meryll83 All it takes is faith and trust...

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    With buying from a resaler, how long do you have between agreeing a sale to having to transfer the funds?

    And is it only a fund transfer that is accepted, or could you pay on a credit card?
     
  10. meryll83

    meryll83 All it takes is faith and trust...

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    As a buyer, do any of the closing documents need to be overseen by an official witness when signing, or is that just for sellers?
     
  11. finchy3

    finchy3 Mouseketeer

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    No your signatures are fine.
     
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  12. meryll83

    meryll83 All it takes is faith and trust...

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    Closing docs have arrived!

    There's only a postal address to return them to mentioned, but does anyone know if emailing them back is acceptable?
     
  13. finchy3

    finchy3 Mouseketeer

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    We had to mail our documents back, we asked if we could fax but they need the originals.

    Via the post office was fine.
     
  14. meryll83

    meryll83 All it takes is faith and trust...

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    Boooo!
    Thanks for the advice anyway, will mean it takes us an extra day to get to the post office, but we'll get there eventually!
     
  15. meryll83

    meryll83 All it takes is faith and trust...

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    Had an email back from *** today and email copies of docs were fine, originals not required.
    So just waiting for funds to clear and buyers docs now and hoping we can close before the projected 8th Dec.
    Whoop! :goodvibes
     
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  16. Jkarrows

    Jkarrows Mouseketeer

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    Hifx now appear to be XE but there exchange rates compared to the banks are so much better, in fact if you can open a USA ban account when not living in the USA and get your currency exchanged into your USA bank account your also get more spending money then you will else where.

    Not sure how easy it is to open a USA bank account without having a USA address i might add, perhaps someone who knows more can let us all know.
     
  17. pinklotusflower

    pinklotusflower Mouseketeer

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    It's really easy to open a US bank account you just need your passport & some dollars to put in your account. US banks don't have free banking unless you keep a certain amount in your account. I have a SunTrust account & I have to keep $500 in it for free banking.
     

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