Closing costs, taxes, etc on new buy???

[Snurk71]

DW asked what kind of costs are added in at closing - either regular real estate fees like doc prep and the like, or even some form of sales tax on the transaction. I've poked around and can't find anything on it. We would not be financing the purchase, if that makes a difference.

So what kind of costs and how much am I looking at for a $16K point purchase?

Thanks

 

[Sandisw]

Are you going through Disney or resale? I believe that Disney picks up some of the costs of closing for new members and typical closing costs for the buyer would run between $300 and $400.

Buying resale is different. It depends on the size of the contract. The listings I get from the TSS each day have costs ranging from $322 (small 25 - 50 point contracts) up to $700 for a 400 point contract.

In addition to the buy in cost and closing costs, you will pay Maintenance Fees each year that include the taxes. Each DVC resort as a different price per point cost--for example: BLT is $3.67 per point for 2009. If you owned 100 points, your yearly MF's would be $367.00.

When you put in an offer via resale, all the costs are negotiable as part of the deal and many buyers have negotiated to have some or all of the closing costs covered by the seller.

The resale brokers are very good, IMO, of helping a buyer with their offer.

Good luck!

 

[Snurk71]

Looking to buy VGC through Disney, not a resale. I was just looking to make sure I wouldn't be surprised by a bunch of add-on costs at closing (I know about the annual maintenance fees).

Thanks

 

[bumbershoot]

Got BLT so it might be a bit different:

document preparation fee to DVC, Inc: 100
recording fees: 28.50
city/county tax/stamps: 183.75
state tax/stamps: 32.94

total: 345.19