Extra Resale Costs?

[tigger2on]

If you purchase DVC through a resale company, what extra costs do incurr?
Has anyone not bought DVC through Disney? Have your experiences been positive?

 

[stacy6552]

you have to factor in at least 2-3 dollars for closing costs. If there are lots of points available, you may need to pay back dues as well.

But the biggest cost is time. Resales can take a long time only to find out you dont get the contract. Then you'll have to start over.

Unless you have a very strong preference for home resort that's not SSR, then I would buy from Disney.

 

[disynut]

We bought our OKW resale through Jaki Apetz at A Timeshare Store. It was relatively painless and it didn't seem to take too long, but we weren't waiting to make reservations, either. And we'd never bought through Disney, so I don't have anything to compare it to. But we were happy! The extra costs for us were the closing costs, which were around $400, I think, for a 150 pt contract. There is a bonus buying through resale if you want a particular resort that Disney doesn't have available, and if you can find a listing with banked or points already available.

Good luck!

Jennifer

 

[lacool]

We bought from Jaki at atimeshare.com as well. It was a BWV contract, 250 points, and closing costs were $500. I was extremely nervous about buying resale, but there are plenty of folks on this board that have done it, and that reassured me. The whole process took about 6 weeks, from our offer until we were in the Member Services computer.

The time and the stress of waiting for ROFR was a drawback, but the 219 banked points I got were worth it. Good luck!

 

[Dean]

Plus the $100 DVC transfer fee. Cheapest option I've seen for full service closing has been $250, $200 if
that if for a Bidshares auction closing. That is an online company called Timeshare Transfers. Of course there are ways to do things that will cut the costs further but it involved doing more of the leg work yourself.

 

[Cruelladeville]

Dean,
Have you ever closed on a contract without going thru a company, such as Timeshare Store or Disney? I have a contract I want to transfer to another family member, and can't figure out how to do it.

 

[Dean]

Originally posted by Cruelladeville
Dean,
Have you ever closed on a contract without going thru a company, such as Timeshare Store or Disney? I have a contract I want to transfer to another family member, and can't figure out how to do it.

Yes and no. I have done a private purchase where we did a contract ourselves then submitted directly to DVC. DVC sent the waiver to the seller. We then used Voigt and Voigt to do the deed, recording, escrow and notifications. It was cheaper than a regular closing but not by that much. I can give you info for the sale submission to DVC and can walk you through the basic process. You could always do a quit claim deed or a new deed and have it recorded. It shouldn't be that difficult to make sure where you send the final notification for DVC. I also don't think it'll be that much of a problem for the recording. Just call Orange county and speak to the person in charge of this issue and get name, address and final amounts. So here's how it would work once you've done the above leg work. I have done a timeshare purchase where we handled everything ourselves including the deed and recording. It was a hassle mostly because the deed wasn't right but the county (HH) told us and we made the changes. It took a couple of tried to get it all right.

• Get a contract signed by both parties. Make sure it's how you want the deed listed.
• Once you have that, send or fax it to DVC who has up to 30 days to act.
• If they pass, they will send the Waiver to the seller, you will need the original to record along with the deed.
• You now need a deed prepared and signed. It has to be notarized and also witnessed. I think it was two witnesses above and beyond the notary if I recall.
• You now send a copy of the deed to DVC along with the $100 transfer fee. You can check with DVC as to where but I assume it's the same as the waiver.
• Send the signed original deed along with the original waiver and the fees to Orange County to be recorded.

That's it. The hard part if really the deed itself. There are companies that will do a deed only for $100 or so. I suppose one could use the old deed as a guide to do a new one but if it's more than a year or so old, this is somewhat risky. I suppose one could also do a quit claim deed but not the best idea.

The reason I paid more above is I wanted things to go quickly. The seller had a lot of turmoil and dragged their feet immensely. We were actually trading timeshares and I wanted to get it done before something happened. In our case there was no escrow as it was essentially an even exchange.

I am in the process of selling a contract but at this point I only have the deposit and we don't even have a contract yet. I've formulated one and sent it to the buyer who states they are not in a hurry. I suspect we will use Timeshare Transfers but it will ultimately be up to the buyer as he will be paying.

Remember that DVC will cancel any pending reservations when you submit for ROFR so if you have pending visits or rentals, don't do it until after they have finished.

In your case, you may want to talk to DVC and see if they have any suggestions to cut through the red tape. If this is a totally separate contract, you may just want to add them as an associate and have them pay you privately. If they default, you could always take it back over and have what they've paid in your pocket. If it's linked to another contract that could still work but is more risky.

 

[Dean]

Originally posted by Cruelladeville
Dean,
Have you ever closed on a contract without going thru a company, such as Timeshare Store or Disney? I have a contract I want to transfer to another family member, and can't figure out how to do it.

To correct the thinking, Disney and TSS don't actually do closings. They use a legal service to do so though in many cases there is a close tie. Also, in most cases, the closing agent must be licensed in the state in question. I know in every case I've had a purchase from a certain broker in TX, they've transferred the closing to a company in the state needed.