Closing costs on buying direct

[tom1944]

Are the closing costs on buying direct similar to buying a resale contract?

 

[RNstitches]

Our closing costs were just under $1,300 on 315 points we purchased last June

 

[tom1944]

Our closing costs were just under $1,300 on 315 points we purchased last June

Thanks

So similar to resale

For some reason I was thinking it might be lower because you are buying from Disney so I thought the title work might have a reduced cost.

 

[Yankee626]

Im wondering if at some point DVC will offer to pay the closing costs as an incentive to buy direct?

 

[Sandisw]

Im wondering if at some point DVC will offer to pay the closing costs as an incentive to buy direct?

They used to do it as routine, and then they stopped, Over the years, there have been a few times where they did indeed cover the costs as part of an incentive

 

[Robbie Cottam]

What every the closing cost to buy direct are worth it for the painless transaction.

48 hours for decision to buy, to having points in your account.

Disney fedexs everything to your with a prepaid return envelope.

Deed is recorded the day Disney gets the paper work back…

points are available, day of transaction

you can usually get last years points

I don’t know what anyone else thinks there time is worth, but some of the horror stories posted on here about closing being delayed and points not showing up as advertised ….
very quickly will burn up any perceived savings

 

[tom1944]

Im wondering if at some point DVC will offer to pay the closing costs as an incentive to buy direct?

And I bet Disney could get a much lower cost based on volume.

 

[tom1944]

What every the closing cost to buy direct are worth it for the painless transaction.

48 hours for decision to buy, to having points in your account.

Disney fedexs everything to your with a prepaid return envelope.

Deed is recorded the day Disney gets the paper work back…

points are available, day of transaction

you can usually get last years points

I don’t know what anyone else thinks there time is worth, but some of the horror stories posted on here about closing being delayed and points not showing up as advertised ….
very quickly will burn up any perceived savings

I am retired so my time is not an issue.

I do have a small record keeping business where depending on the client I make anywhere from $50 to $200 an hour. This was set up for the sole reason of using 100% of my after-tax money for vacations.

The actual time I spent actually looking for a contract and doing the paperwork might have been 4 hours.

I guess if I billed for time spent on this board and reading about DVC on other sites it would be a lot, but I would be doing that even if I made a direct purchase.

For my initial contract the cost savings was too substantial to pass up.

I want to add points and might go direct with small point purchases at one or two resorts. I might even buy a 2042 direct strictly to use periodically during Christmas week.

 

[TinkAgainU]

What every the closing cost to buy direct are worth it for the painless transaction.

48 hours for decision to buy, to having points in your account.

Disney fedexs everything to your with a prepaid return envelope.

Deed is recorded the day Disney gets the paper work back…

points are available, day of transaction

you can usually get last years points

I don’t know what anyone else thinks there time is worth, but some of the horror stories posted on here about closing being delayed and points not showing up as advertised ….
very quickly will burn up any perceived savings

37 days for recent resale - from offer to booked Christmas trip at the Grand Floridian. I was able to get a smaller points contract, and paid significantly less per point. I can live with a few weeks turn around to save a few thousand dollars upfront (and more over years with a contract under 150 points - reducing annual fees - that works fine for us). YMMV

 

[Dobermanns]

I believe closing cost on direct purchase is lower than resale because the title search/insurance (?) is not required. I don’t remember the details because the last time we bought direct was years ago…

 

[heynowirv]

As SandiW noted there was never a closing cost when you bought direct up until 2011? To some of us that was a significant savings and it was a shock when they instituted the charge.

 

[TinkAgainU]

If you go to the www.disneyvacationclub.com page you can see they quote $852 in closing costs right now for 150 points at the Grand Floridian. Even when I plug in that sales price - it seems when I look at closing costs on www.dvcbyresale (you can see the price for closing costs if you select Buy Now, then Make Offer Button) - it seems Disney is quoting closing costs Higher for Direct than we see for Resale? Certainly does not seem to be a substantial savings Just like Resale brokers - if you control the contract and or title/escrow fees you can mark it up since "closing fees" is a pretty vague statement. (For new Buyers BTW, "typically" we do not see Annual Fees adjustments shown as closing fees, but as a separate item - in resale that is a negotiable number)

 

[pianomanzano]

What every the closing cost to buy direct are worth it for the painless transaction.

48 hours for decision to buy, to having points in your account.

Disney fedexs everything to your with a prepaid return envelope.

Deed is recorded the day Disney gets the paper work back…

points are available, day of transaction

you can usually get last years points

I don’t know what anyone else thinks there time is worth, but some of the horror stories posted on here about closing being delayed and points not showing up as advertised ….
very quickly will burn up any perceived savings

It’s all online now, all docu-sign and webcam appointment with notary.

 

[Robbie Cottam]

37 days for recent resale - from offer to booked Christmas trip at the Grand Floridian. I was able to get a smaller points contract, and paid significantly less per point. I can live with a few weeks turn around to save a few thousand dollars upfront (and more over years with a contract under 150 points - reducing annual fees - that works fine for us). YMMV

Sounds like you may have had a good broker.

 

[Jimmy Geppetto]

When buying direct you really don’t need title insurance. All you should have to pay for is the $250 document fee. You are able to decline the title insurance which is a nice cost savings.

When you think about it… if you ever needed title insurance when buying direct from Disney, you have far greater problems to worry about.

When buying from DVC directly you are almost assured there is no lien against your deed.

 

[Robbie Cottam]

It’s all online now, all docu-sign and webcam appointment with notary.

That’s assumes:

The points are available,
The seller signs there paperwork,

You don’t have to wait for the seller to take there last vacation

 

[pianomanzano]

That’s assumes:

The points are available,
The seller signs there paperwork,

You don’t have to wait for the seller to take there last vacation

I'm talking about direct, you said in your previous post that Disney fedex's documents along with a pre-paid envelope. I'm saying the process has been updated. When I added-on direct in 2021, everything was electronic.

 

[RoseGold]

it seems Disney is quoting closing costs Higher for Direct than we see for Resale? Certainly does not seem to be a substantial savings

I quoted closing costs when VGF2 went on sale, and I remember they were a little cheaper than resale. $852 for 150 points seems pretty high. Maybe direct is going up there too.

 

[Robbie Cottam]

I'm talking about direct, you said in your previous post that Disney fedex's documents along with a pre-paid envelope. I'm saying the process has been updated. When I added-on direct in 2021, everything was electronic.

Oh cool so it must be even faster….

 

[gobears157]

What every the closing cost to buy direct are worth it for the painless transaction.

48 hours for decision to buy, to having points in your account.

Disney fedexs everything to your with a prepaid return envelope.

Deed is recorded the day Disney gets the paper work back…

points are available, day of transaction

you can usually get last years points

I don’t know what anyone else thinks there time is worth, but some of the horror stories posted on here about closing being delayed and points not showing up as advertised ….
very quickly will burn up any perceived savings

The savings are pretty significant these days between direct and resale though. For example, Aulani direct is $217pp (and $187pp at 250 points with incentive pricing). Resale is around $90pp, so over 50% off.

I'm guessing the average person (including me) is much more willing to spend a dozen hours or so to track resale and save $$.