Do I have to have a FL lawyer on a resale?

[pinkpiglettlover]

Decided to finally purchase DVC. I fell into a pretty good deal on a resale at VWL. My question is this ? We are supposed to sign the papers this week and the seller is saying we need to have a Florida Attorney prepare/review the paperwork? Did anyone buy privately and have their paperwork drawn up thru their own attorney or did you have to get an attorney in Florida???

 

[jctwizzer]

a title company should be able to prepare all the documents and arrange for title ins. if you want it....IMHO a lawyer is not needed..we have bought two resales without one

 

[Dean]

Originally posted by jctwizzer
a title company should be able to prepare all the documents and arrange for title ins. if you want it....IMHO a lawyer is not needed..we have bought two resales without one

You do not necessarily even need a title company though if you buy through a resale agent, they will insist on one. They usually are either in house or they get a kickback.

For a private sale, all you need is a deed with the proper wording, notary and witnesses. Then record it and pay the fees. Send a copy to DVC with the transfer fee. I've sold one without even having a company involved and wouldn't hesitate to do so again. But it is reasonable for the seller to request a closing service. Timeshare Transfers will do it for $250. They will also do a deed and/or act as escrow alone.

 

[Disney Doc]

Just be sure that your "pretty good deal" isn't so good that it gets grabbed by Disney's ROFR?

 

[mickeyc]

I have purchased several resales and would strongly recommend a title company. They handle all the necessary componets regarding a resale including title insurance. You could handle the transaction without a service; however, I think a third party handling a large sum of money is to protect you and the seller.

Additional information can be obtained concerning this topic by visiting www.tug2.net.

The company I would suggest is the Timeshare Closing Service 7345 Sand Lake Road, Orlando, Fl. Their phone is: 407-370-2373.

Good luck with your transaction.

 

[RuthnPaul]

Originally posted by Disney Doc Just be sure that your "pretty good deal" isn't so good that it gets grabbed by Disney's ROFR?

Good point, Disney Doc. Pinkpiglett, if you don't mind sharing, what are the specific of this contract (price per point, whose paying maintenance fees, are there banked points/current year points available, etc.)

 

[pinkpiglettlover]

The purchase is thru a relative of a coworker. He just really wanted to unload his points and originally told us to pay off his loan. After he did a little research and realized he should sell his points, he gave us a price of 72 per point for VWL. Of course after reading many posts on this site, I seriously doubt that 72 will pass ROFR at VWL. Maintenance fees are already paid for 2004 and he offered to pay closing, which we decided to share.

 

[RuthnPaul]

$72 may or may not pass (ours recently did for VWL). However, we paid 2004 maintenance fees (they had not used any points for the year) and closing. If the contract comes with 2004 points still available to you, I would strongly suggest paying the maintenance fees on these points. Disney takes all of this into consideration when determining the actual price paid per point.

 

[DisneyKidds]

We didn't have a lawyer for our resales. We used a closing service (Timeshare Closing Service on one, and I forget who on the other). They took care of all the paperwork and filings and the transactions went very smoothly.