Did you pay closing?

[Welsh *Disney* Girlz]

I'm looking for 200 points at BWV.
When I put in an offer is it usual to offer the asking price and then ask the seller to pay the closing and split the maintenance?
Also if your offer was refused did you go back to the seller with a new offer?
Finally if I put in an offer and I'm waiting for a reply could some-one else put in another offer before the seller decides on my offer?
Love all the information provided here!

 

[RobDoc]

Resales are negotiable. If your offer is otherwise high enough, the seller might agree to pay closing, but in general the seller expects the buyer to pay closing. Be sure it's in your offer though - you're not likely to be able to amend the offer after it's been accepted.

If another buyer submits an offer at the same time, the seller can certainly pick whichever he wants. If your initial offer is rejected you can make another offer.

I have purchased resales both ways. If the contract is a good deal (with banked/current points) I don't mind paying closing costs. If there are shortcomings I have asked the seller to pay closing costs - but I wouldn't allow an otherwise good contract to be lost for a few hundred $$$.

Good luck with your purchase.

 

[Deb & Bill]

When I sold two contracts, I got my asking price, but I paid the dues on the points for the rest of the year (two months worth each).

 

[Buckeye Fan]

I'm looking for 200 points at BWV.
When I put in an offer is it usual to offer the asking price and then ask the seller to pay the closing and split the maintenance?

You basically can do whatever you want, as long as the seller accepts. Just to give you an example, for all 3 of my contracts, I got the previous year's points (one contract had 2 full year's worth of points) and all current year's coming. I paid less than asking price on my 2 SSR contracts and asking price for VB. On all 3, I paid current UY's MFs and seller picked up closing costs. Since the contracts had all the points coming and last year's, I felt it was only fair that I paid MFs since the seller's weren't using the points.

Also if your offer was refused did you go back to the seller with a new offer?

Yes. On the contract that had 2 year's worth plus all current UY coming, I ended up picking up a GMAC fee of $195. It's just a fee that particular broker charges. Seller accepted and we purchased.

Finally if I put in an offer and I'm waiting for a reply could some-one else put in another offer before the seller decides on my offer?

Absolutely. This happened to us as well. We ended up getting the contract. As long as you haven't signed papers, the seller has no obligation and can take the best offer on the table.

Love all the information provided here!

Me, too! Aren't these boards (and the wonderful folks on them) GREAT???

Good luck!!!

 

[Terri2007]

I would like to echo the PP's comments. We also bought through resale and only considered "loaded" contracts: those with current and previous years points intact. On both of our purchases we did not pay closing costs, although on one we did pick up the GMAC fee of $195. I primarily decided on what point costs I wasted to pay from the information on the thread titled: "Has anyone passed ROFT recently?" thread in this forum. On a purchase late in the year, we did not pay membership fees. On a purchase in the first month of the year purchased we split the membership fees. Finding contracts that met our requirements and sellers willing to pay closing costs and MF's took 1 month. Best of luck to you.