Closing cost for resale?

[cseca]

Does anybody know in general how closing cost is calculated for resale?
Is it by total cost?
Thanks so much!

 

[chalee94]

i think the timeshare store staggers it by pts or overall cost.

a small 25 or 50 pt resale is $322 in closing costs

160-200 pts is about $450-500

600 pts might be about $750

not sure about other companies...

 

[cseca]

i think the timeshare store staggers it by pts or overall cost.

a small 25 or 50 pt resale is $322 in closing costs

160-200 pts is about $450-500

600 pts might be about $750

not sure about other companies...

TY so very much!
And usually does seller or buyer pays? Or do they do 50/50?

 

[chalee94]

TY so very much!
And usually does seller or buyer pays? Or do they do 50/50?

usually buyer pays closing costs.

OTOH, it is negotiable (but i suspect DVC's lawyers are smart enough to factor it in when deciding whether to ROFR or not.)

 

[cseca]

usually buyer pays closing costs.

OTOH, it is negotiable (but i suspect DVC's lawyers are smart enough to factor it in when deciding whether to ROFR or not.)

TY much!

 

[Mic]

I am purchasing 40 OKW points through a broker other than the Timeshare Store, and the closing costs are a little higher. My closing costs are $425 for 40 points, but I think I got a pretty good deal on the points($65 per point, I pay closing and 2010 maintenance fees). I'm not much of a negotiator Definitely factor the closing costs and MF's into your total.

 

[bgraham34]

I remember paying about 450 or so on my 50 point purchase at VWL.

 

[RCM]

We will see I'm waiting for ROFR for 50 points and the seller did pay closing costs. I think it is very negociable.

 

[cseca]

Thanks everyone!
Apparently closing costs vary quite a bit. I wonder why.
I guess it makes sense who pays really depends on how motivated the seller is.

 

[saintstickets]

Just as an example of differences in closing costs, we purchased a 50 pt OKW contract and the closing costs were $450 or +/- 13% of the contract amount. We are purchasing a 50 pt BWV contract and the closing costs are $670 or +/- 16% of the contract amount. Both amounts are for the same services and do not include MF's in that amount. The difference between the two contract amounts, not including closing costs, is $600. The purchases are through two different agencies. We pay the closing costs on both contracts so the big difference in our situation was in what the agency charged.

 

[Tozzie]

I just purchased a 50 pt VWL resale, I am just waiting for the closing, it is with The Time Share store and the closing costs are $322. Last year I purchased a 50 pt resale for VWL and it was through DVC by resale and the closing costs were $325. I know the costs are based on the sale price and not by the number of points because the fees paid to the county or state are based on sale price.

 

[MommyBell08]

Jaki at DVCbyResale told me they go off total purchase price. Im sure it depends on the company too.