Closing costs

[patclairesmom]

Hi, We're about to send in the paperwork for our first ever DVC going resale. What are the typical closing costs people are paying. Mine seem really high @$1000. Is this typical?

 

[APiratesLifeForMe2]

Hi, We're about to send in the paperwork for our first ever DVC going resale. What are the typical closing costs people are paying. Mine seem really high @$1000. Is this typical?

It depends on the contract size- larger contracts are more expensive. Ours are - little under $500 but we only bought 50 points.

 

[patclairesmom]

Ours is 150 points.

 

[BillPA]

The timeshare store, posts closing fee for 150 +/- points in the low $700 range. I've seen other resale place post $550 range. $1000, does sound high? Who are you using?

 

[Dean]

Hi, We're about to send in the paperwork for our first ever DVC going resale. What are the typical closing costs people are paying. Mine seem really high @$1000. Is this typical?

IMO that's very high for WDW, not quite as bad for non FL options. Is it by chance multiple contracts making up 150? I assume that includes title insurance which is generally not necessary, esp for 150 pts. I'd likely only buy it for divorce/bankruptcy situations and even then I'd look at the price it cost. But even for non FL and including title insurance, it still sounds high for 150. I wonder if they are transferring some of the brokers costs to the buyer, I know some have tried to do that lately with timeshares in general by adding an additional brokers fees on top of the commission amount. Not that different than car dealerships do with an admin fee to complete the paperwork. LT transfers, an online company, will do it for around $200 total as a comparison.

 

[mustinjourney]

I've paid $500 (resale); $720 (resale); and $106 (direct).

Those were for 130, 150, and 25 points, respectively.

 

[patclairesmom]

I'm going through Timeshare store. It does say high cost estimate so hopefully it will be more reasonable.

 

[ML_LovesDisney]

Ours is 150 points.

I think ours were $932 for 300 points so that does seem high

 

[supersnoop]

Hi, We're about to send in the paperwork for our first ever DVC going resale. What are the typical closing costs people are paying. Mine seem really high @$1000. Is this typical?

Which resort are you buying? That sounds about right for Aulani.

 

[patclairesmom]

Which resort are you buying? That sounds about right for Aulani.

Saratoga Springs.

 

[Meandnevaeh]

I used the Timeshare store and ***, while I can't remember exactly how much my closing costs were at the moment, I do recall that my actual closing costs came in about $230 less than the original quoted amount in my paperwork and contract.

 

[patclairesmom]

We are financing so $336 pertains to mortgage type fees fees. The other is:

Title Policy $75
Title Settlement fee $350
Title Search $75
Deed fees: $118
Title insurance $75
Title courier fee $50
Title Fl Ins Policy surcharge $3.28

The first 3 it says I can shop for it.

 

[Dean]

That makes more sense. I wouldn't include finance charges in closing costs personally. The title policy likely is required if getting a mortgage. So financing adds an additional $500 up front on top of the interest over time in this case.

 

[ton80]

The timeshare store, posts closing fee for 150 +/- points in the low $700 range. I've seen other resale place post $550 range. $1000, does sound high? Who are you using?

Any particular reason the TSS closing costs are much higher compared to other resale sites ???

 

[BillPA]

No idea, it's just what I saw on the web sites.

 

[mana_liz]

We tried TSS for our 1st 2 tries (Disney took them), closing costs were $656 for 150 points at Saratoga. For our 3rd try we switched to Buy and Sell DVC, closing costs are $625 for 160 points at Saratoga.

 

[nolenbelledavis]

Ours are about $950 at First American Title with a 320 point contract. We're paying cash, so no mortgage expense. The title insurance is something like 200, which seems silly to get, but...

 

[goofy78]

What do the closing costs stated in the resale offering refer to? Mine were 535.00. I just got my high estimated closing costs (I am financing) and they are 1002.00.
There are services I can shop for with the most expensive being Title settlement or closing fee. How do I go about shopping around?

 

[Meandnevaeh]

What do the closing costs stated in the resale offering refer to? Mine were 535.00. I just got my high estimated closing costs (I am financing) and they are 1002.00.
There are services I can shop for with the most expensive being Title settlement or closing fee. How do I go about shopping around?

So the closing costs listed in the original contract were $535(closing costs that you would have with that contract no matter how you pay), you can expect to pay in addition to that $199 financing fee, plus another $135-165 I think for the additional closing costs(I'm assuming you are using Monera). I had figured how much my closing costs should be by reading all of the document information and everything on Monera, then I was given a similar estimate, I didn't shop around for anything-just went with it, then my actual closing costs were lower than that estimate and were more in line with what I had originally expected-the listed costs in the initial contract plus $199 fee to Monera plus another $$135 I think.

 

[goofy78]

So the closing costs listed in the original contract were $535(closing costs that you would have with that contract no matter how you pay), you can expect to pay in addition to that $199 financing fee, plus another $135-165 I think for the additional closing costs(I'm assuming you are using Monera). I had figured how much my closing costs should be by reading all of the document information and everything on Monera, then I was given a similar estimate, I didn't shop around for anything-just went with it, then my actual closing costs were lower than that estimate and were more in line with what I had originally expected-the listed costs in the initial contract plus $199 fee to Monera plus another $$135 I think.

So I guess I'm looking at around 870. Better than 1002. Thank you.