Considering resale purchase ?

[jt2323]

For those who are thinking about a resale purchase let me give a little advice:

1) Patience will be rewarded. If you can stand to wait until a motivated seller appears you can get a fine deal.

2) Everthing (price, terms, closing costs, annual maint. fees, etc.) can be negotiated.

3) It will take longer to close than going directly thru Disney. A resale involves buyer, seller, Disney, attorney, seller's agent, title search, etc. It can be a long and confusing process compared to buying directly from Disney.

4) The agent is working for the seller, not the buyer. That being said there are good agents (from the buyer's view) and bad agents. If you read the threads on this board you hear about the good ones.

Again, patience is the key to both a good deal and the somewhat complex process of closing. Or did I already mention patience is required?

Regards

 

[Wislodgers]

Gee, I feel that this could be my agent speaking to me! Buyers can tend to get anxious when the closing company has been holding 15,000+ dollars since the 24th of April. Here we are at June 3rd, and still have not closed. I understand what you are posting and that there is a huge difference in buying resale and via Disney, but there is a point that the buyer(and I imagine the seller) start to get impatient. It is excellent advice to give, and going into our resale we knew it would take longer than Disney, but I have to say how long we have waited has exceed what we expected.

 

[jt2323]

Sorry it is taking so long for your closing. Did the broker request you send in the entire amount prior to Disney review? The broker I am working with required $2000 for escrow but the balance is to be wired to the closing attorney just prior to the actual closing. Any one else have similar experiences?

 

[Wislodgers]

We had to send in $1000 deposit and then the final check with the final notarized papers. There was a hold up at the end in closing. It was something to do with the seller's mortgage through Disney. Now it does sound like it is moving forward again. Patience is definitely needed!