Closing Costs thru Disney

[arthur06]

I was reading on the Timeshare Store that closing cost are from $325 to $850 for each resale. If you buy from Disney is there closing costs for is it straight $104 per point for BLT.

So 160 points at $104 is $16640. Is that exactly what you pay from Disney?

 

[disneynutz]

DVD charges closing costs for new Members. If I remember correctly it's less the what the resellers charge.

 

[hellerjw]

The closing costs for purchasing direct through Disney at one of the newer resorts is somewhere in the $300 range, give or take $50 depending on whether you pay cash vs. financing. There have been other posts about Disney not charging closing costs on new contracts at the older resorts. I don't have any experience with this so others will need to confirm whether this is the case or now.

They will push you to buy-in at AKV or BLT right now, but you can buy in at the older resorts direct as well. You may have to be put on a waiting list and there won't be the major incentives like at the newer resorts. However, if you have you heart set on VWL, OKW, or one of the older resorts tell them that's the only place you want to buy and they will accomodate you.

Disney doesn't charge closing costs for add-ons so once you have your initial contract you can add on additional points without extra fees. They didn't use to charge closing costs at all but started sometime between the SSR and AKV builds for all new purchases.

 

[MommyTo5]

Disney only charges closing costs on the first 160 points of your initial purchase. The closing costs on our BLT purchase were only $244.50. We did not finance.

 

[mybabesuz]

The DVC financing papers I have say... 235.00 for cash contract and 320.00 for a financed contract.

 

[Buckeye Fan]

I purchased 3 contracts through GMAC. I can only speak about them, but there were four costs to the contract (I think most of the other companies have only three).

1) Negotiated contract price (# of points X price per point)
2) Maintenance fees (can be negotiated with the seller)
3) Closing costs (can be negotiated with the seller)
4) GMAC fee ($195 - can be negotiated with the seller - I don't think the other 3 sellers mentioned on the boards charge an additional fee)

For two contracts, I did not pay closing costs or the GMAC fee. For the 3rd contract, it was loaded, so I paid the $195 fee, but no closing costs. I paid the maintenance fees on all 3 contracts since I purchased them in the beginning of the year, and would have full use of the points.

In case you're wondering, all three contracts closed within 2.5 months (offer to being in Dis's system and able to make reservations).

 

[alicat07]

We bought our initial and also an add on through Disney directly. We only had closing costs on the initial new member points--100 points at AKV totaled about $225 in closing costs. Then we added on 25 more AKV points--no closing costs on those.

 

[DznyDreamz]

Disney covers the closing costs when you buy a new contract for a "sold out" resort. We just signed a contract through Disney at BC and there was a big fat $0 in the closing cost section on the settlement statement. Got to love that!

 

[5forDiz]

I was reading on the Timeshare Store that closing cost are from $325 to $850 for each resale. If you buy from Disney is there closing costs for is it straight $104 per point for BLT.

So 160 points at $104 is $16640. Is that exactly what you pay from Disney?

At BLT price per point is $112 - $5 per point incentive on

purchase of 160 points so you are looking at $107 per point so $17120 plus

whatever the closing costs amount to.

 

[rkwier]

We recently purchased 225 points at BLT and financed through DVC. Our closing costs were $332.52.