Closing Costs Direct

[AdamsMum]

Hi All,

Just wondering if the closing costs for a direct purchase are lower than for a resale purchase. Thoughts of adding on alternate with thoughts of selling in my mind (in reality I can't bear to part with my points). If I add on it would be a small contract 25 - 50.

Given the difficulty of even finding such a contract, getting an offer in before its purchased and the effect closing costs have on the pp cost, it seems like going direct would make more sense.

That said, my two resorts are BWV and BC which are high priced resorts direct, and hard to get resale.

Just wondering what people think.

Thanks in advance.

 

[miTnosnhoJ]

Let’s see.
I bought 250 points direct.
The closing costs were $545.08 + a $100 Doc Prep fee.
Closing costs were made up of
Title Insurance 237.48
Recording Fees 18.50
City/County Tax Stamps 289.1

I bought 186 points resale.
Closing costs were $819.88

Resale closing costs were higher, but not enough higher to change the answer.

 

[striker1064]

I bought a small 60 points AKV contract direct earlier this year and closing was around $165. So yes, they seem to be.

 

[Spartan86]

Our 25 Pt SSR add on last summer was $104 if I recall correctly.

 

[4luv2cdisney]

$147
BWV
60 pts
October 2017

 

[AdamsMum]

Okay, seems like they are a bit cheaper. Might just do this, since its so hard to catch a small contract with the right use year.

 

[OneLittleSpark2014]

A couple of months ago I checked on a small add-on direct contract and my guide said the closing cost for 25 pts at AKV would be $108 and for SS it was $105 for 25 pt add on, $131 for 50 pts at SS. I don't know why but the closing costs for existing members seem to be very low. It made us seriously consider doing a direct add-on for a small amount because the difference in closing costs actually made a huge impact on the overall price.

Ultimately we decided to purchase a 160pt resale contract at AKV. It's a much better value for us but I definitely can see the appeal of the small direct add-on under the right circumstances. Low closing cost, quick sale, ability to get credit card points, ability to still get 2017 pts depending upon your UY. It makes sense in some situations, especially if time is a major factor.

Definitely call your guide and check on the closing costs. I think you'll find them to be very reasonable.

 

[Whositsgalore]

Okay, seems like they are a bit cheaper. Might just do this, since its so hard to catch a small contract with the right use year.

This is exactly what we are going to do. We want a small(ish) add on in our Feb UY and with the premium of small contracts through resale plus the difficulty finding our UY its much easier for us to buy direct. Plus the added bonus of being able to pay completely with our CC for the card points/perks which I added a value to when doing the math of resale & closing costs vs direct & closing costs. A side bonus is that its much faster and no waiting on ROFR. For us a large contract with resale was the way to go but small add on its direct for sure.