Closing costs on resales?

[parrothead724]

About how much do they average ? I realize it probably varies per resort, or per # points - but for, say, 100 pts at VWL - what would "typical" closing costs be?

Thanks!

 

[bobbiwoz]

Just this weekend, we inquired about a 100 point contract at VWL, and the closing cost would have been $400, from Shontell.

Bobbi

PS. There would still be the money for the dues/maintenance fee that has to be paid. With resales, that cost is negotiated, with Disney, I think it was prorated when we added on the 50 points last year.

 

[JeffPort]

Our closing costs for a 210 point resale at the Timeshare Store were exactly $475. Here is how it broke out:

$223.25 Closing Fee to Escrow Service
$  50.00 Title Search
$  86.25 Title Insurance
$  10.50 Deed Recording Fee
$105.00 Deed State Tax / Stamps

 

[tjkraz]

Originally posted by parrothead724
I realize it probably varies per resort, or per # points

Actually neither is the case. It will vary depending upon the agencies involved, but not by resort or (typically) number of points.

Closing costs can add substantially to the cost. If you consider $500 in closing costs, that would add $5 per point to your 100 point purchase. But if you were purchasing 250 points, the aggregate cost would only be $2 per point.

If you are a DVC member, you can waitlist for points from DVC and they will sell to you as they become available. Current cost through DVC is $84 per point and they take care of the closing costs and all other fees. You can add on any amount you need through DVC, with the minimum being 25.

Generally speaking a resale will save you a few bucks. But if you just want a handful of points, the increasing proportion of closing costs may negate the savings.

 

[parrothead724]

Thanks, folks! I'm hoping to acquire about 100 pts. for VWL sometime in the near future (just bought at SSR) and I'm trying to decide the best way to go!

 

[vogel642]

ok

 

[Dean]

Don't forget to add in the $100 transfer fee. Timeshare transfers will do it for $250.

 

[twotoohappy]

I'm still waiting for my DVC to go through...but, it's for 100 points at VWL and closing is 400 through dvc-resales (the timeshare store)

 

[parrothead724]

Thanks again...now I know where Uncle Sam's annual rebate is going - they should skip the middle(wo)man - ME - and send it right to DVC!!!

Now the ONLY questions are which resort? How many points? What use year? Oh yeah - and DVC purchase vs. "outside" purchase??? Decisions! Decisions!

I WANT IT ALL!!! (...but can't afford it!)

Seems like I just went thru this for my initial purchase!


Now, if I could just pick the right 6 numbers....

Have a great day y'all!

 

[egroegsacul]

I closed on a 100 point resale last July and the closing costs were $350.00