dvc resale contract

[heather9001]

We are in the process of purchasing dvc points through resale. Our local attorney highly recommended that we hire a real estate attorney in florida to review the contract. Do most people who purchase dvc use attorneys and if so, does anyone have a recommendation?

 

[Msmithmd]

The only reason I can think to hire a real estate attorney to review the contract is a desire to spend money for nothing. I'm no attorney, but if you're purchasing resale through any reputable broker you will use a cookie-cutter contract that is used several thousand times a year. It will then be processed by a state licensed closing agency, and signed off by DVC in the ROFR process.

Money will go into escrow at the closing agency and won't be disbursed until they have the documents all in order from the seller. Your risk might go up a bit if you are purchasing private party with no broker; even then there are certain requirements for the contract to be processed through the closing.

Don't waste this attorney money IMO, unless you aren't using one of the major timeshare realtor/brokers.

 

[MsTessP]

My dh - who is also an attorney in another state, but not a RE attorney - also wanted to hire a Florida attorney to look over our resale contract before we bought.

We almost did, but then he did some research on the current laws and guidelines in Florida concerning timeshares and came to his own conclusion that the documents used by TTS and other reputable companies are standard.

Some people will want to have the extra protection of having the contract looked over - and that is the right decision for them - but we chose not to do so, and it all worked out fine for us.

 

[DisKneeDad]

We are in the process of purchasing dvc points through resale. Our local attorney highly recommended that we hire a real estate attorney in florida to review the contract. Do most people who purchase dvc use attorneys and if so, does anyone have a recommendation?

No.

 

[Dean]

We are in the process of purchasing dvc points through resale. Our local attorney highly recommended that we hire a real estate attorney in florida to review the contract. Do most people who purchase dvc use attorneys and if so, does anyone have a recommendation?

It's a waste of money for such a standardized process. Same for title insurance if you do a little investigation and the closing company gets an estoppel letter. For other than FL it's a little more complicated but not that much.