First Time Buying Resale Question

[DisnEElove]

Got offer accepted, and now wondering why the broker asked for my current DVC deed... What do they do with it?

 

[eticketplease]

Got offer accepted, and now wondering why the broker asked for my current DVC deed... What do they do with it?

They want to make sure it is deeded the exact same way, so it will be the same membership number assuming that you bought the same use year.

 

[Jimmy Geppetto]

Got offer accepted, and now wondering why the broker asked for my current DVC deed... What do they do with it?

They want to make sure the title company prepares the new deed (from resale purchase) the same way as DVC did when you bought direct so you can keep both contracts under one membership. For this to happen DVC requires all names to be exactly the same on both deeds otherwise a new membership will be created. Both contracts also have to be the same UY.

But the broker should be pulling that for you from the comptroller website unless this is an Aulani purchase.

Also, do some research on these boards on the best title company. There are definitely some to avoid such as Magic Vacation Title (much higher closing costs).

 

[DisnEElove]

They want to make sure the title company prepares the new deed (from resale purchase) the same way as DVC did when you bought direct so you can keep both contracts under one membership. For this to happen DVC requires all names to be exactly the same on both deeds otherwise a new membership will be created. Both contracts also have to be the same UY.

But the broker should be pulling that for you from the comptroller website unless this is an Aulani purchase.

Also, do some research on these boards on the best title company. There are definitely some to avoid such as Magic Vacation Title (much higher closing costs).

It's the same UY. The broker did not find the deed, but they sent a link to the Auditor/Comptroller search page so that I could find it myself.

Thanks for the heads up on the Title Company. Forgot about that and I probably will have 4-7 weeks to research. The broker has a $550 - $695 closing special, so I'm guessing that's only if we use their 'preferred' company.

 

[eticketplease]

The broker did not find the deed, but they sent a link to the Auditor/Comptroller search page so that I could find it myself.

Considering that they should be experts at navigating that site this is scary to me.

I wish they would have them listed under "Membership Documents" when you log in as that would make it much easier to find especially with multiple contracts.