Buying resale

[eel111]

We are looking at buying some OKW points via the Timeshare store and are wondering when we would have to make the payments ie deposit and final payment. Can anyone tell me what the process is.

Thanks Paul

 

[disneydenisel]

We are looking at buying some OKW points via the Timeshare store and are wondering when we would have to make the payments ie deposit and final payment. Can anyone tell me what the process is.

Thanks Paul

The basic timeline for a timeshare resale is 1) make an offer on a contract 2) put a $1000 deposit down once your offer is accepted 3) wait for ROFR up to 30 days, 4) sign contracts 5) pay balance.

So if you were to make an offer today and it was accepted tomorrow, you would need to pay the deposit. Then the remaining balance would be due when all the final paperwork is signed, dotted, notarized, etc. So at least 30 days later, and probably a week or two longer than that.

We haven't purchased through TTS but have purchased a few resale timeshares, and this was always the case.

 

[Sandisw]

When we bought, we had to send in a deposit within days of the offer. I believe it was 10%. Then, when we passed ROFR and got the closing documents, we had to send the balance in with the final paperwork.

Depending on how long ROFR takes (it can take up to 30 days), closing might not happen for 6 - 8 weeks.

In my case, it only took 4 weeks, but that was in 2009 and they were taking only about 2 weeks to decide on ROFR.

Good luck!

 

[JimMIA]

We are looking at buying some OKW points via the Timeshare store and are wondering when we would have to make the payments ie deposit and final payment. Can anyone tell me what the process is.

Thanks Paul

It sounds like you are looking at the online listings and haven't spoken to the Timeshare Store folks yet. Save yourself some time and give them a call.

First of all, they will be happy to explain all the details to you. Also, they are VERY knowledgeable and can give you a lot of good guidance about the entire resale process. They've been doing this for a long time and really know their stuff.

Also, if you tell them what you are looking for, they may have a contract that is in the process of being listed but not yet on the website that would meet your needs. You might get a chance to snatch something up before it hits the market.

Good luck, happy hunting, and enjoy OKW -- it's our favorite resort.