For All DVC Members Who Have Ever Considered Resale

[Shontell_Crawford]

I hope this won't get "pulled" but I am looking for opinions only, so I hope not.....

If you have or might consider buying a resale, would you prefer the closing costs to already be "built in" so you could compare the price directly to Disney?

I ask because it is a common question and I wonder if it would make it easier for people to buy if they didn't have to do all the calculating. Plus, different brokers use different closing agencies and some charge more than others.

Would you "do the math" on a resale if you had one broker listing resales at $70 per point with no closing versus another broker who had a listing at $68, but closing had to be added?...or would you just buy the cheaper listing at $68?

Thanks for your input!

Shontell

 

[mzzbuzzlightyear]

Shontell,
I bought resale at OKW in 1999...$50 a point! (with free passes, too!!!)
Closing costs were extra. I think about $450, so I guess that would make the true cost $51.96 a point.
I like the points to be advertised as such. This way you know what the point cost is and then you know the closing costs(or any other costs that you might incur.) So I voted to advertize without the built- in costs, whatever they might be. Just points alone.
June

 

[msdis]

Added to it because I think a lot of people are disillusioned as to how little per point the closing costs really are. A lot of people are telling others that the resale needs to be at least 10/pp less than Disney for it to "be a deal". I think a lot of people who are looking for advice here get steered away from a listing that is very fair for both the buyer and seller. If a buyer is looking for a property that is sold out, and the end result is even the exact same as from Disney, then I think it is still a marketable listing that is fair. ie; supply and demand.

 

[BCVOwner2002]

DH and I are considering a small add-on. We were looking at resales and DH said it is a bit confusing since everyone prices them differently.

I would like to see the price per point, closing costs, and final cost per point. This is how mortgage companies explain the APR (annual percentage rate) so I'm sure many people would be familiar with this analogy. Annmarie

 

[robinb]

It really didn't matter to me. I put together a spreadsheet which helped me determine price per point with and without closing costs.

I think most people would prefer to see a price including closing costs ... it makes them think they are getting something "free" .

 

[Cap]

Shontell,

I'd like to see the extras itemized. That way I can develop a strategy for an offer. Also, as Disney has an implied "right of first refusal" floor, separate closing costs help to avoid having DVC exercise that right. It's easier to develop a possible deal structure if you know the cost breakdown of the elements.

 

[zulaya]

I think you need another option to your poll, that being having all costs itemized:
points, closing costs, final costs, mention of maintenance dues.

Giving a detailed breakdown is a nice gesture and makes people think you aren't hiding any other costs. They know up front what they have to pay for the contract and won't have to look up what the dues are.

 

[dianeschlicht]

I would want to know ALL costs up front.

 

[CarolMN]

Savvy buyers will do all the research. IMHO, you have to advertise the price in a manner similar to your competition. If you don't, some potential buyers will not even consider your clients' offerings.

My personal preference is to have all the info I would need to make an offer readily available - price per point, closing costs, number of points, home resort, point status (banked or borrowed), seller's expectations regarding current year's maintenance fees, etc. I don't mind calling/emailing to get the info, but prefer not to have to call multiple times. I'd really like to have all that info itemized on a web site!

 

[crisi]

Itemized.

I'd like to see a chart on the web sites:

Home Resort - # points - Use Year - Current Available Points - Next years points (borrowed points) - Closing costs - maintence due at closing

 

[baileybrad]

I agree with the savvy buyer idea that CarolMN discussed. We worked with Jaki Apetz and she was totally upfront with us as to what was a realistic offer, etc. She did not tell us what to offer but she explained what the approximate closing costs would be along with the entire resale process would be. We were buying in South Carolina and it works a little different than the Orlando ones. In the end, we got a great deal on a resale and were assisted by a competent professional broker who treated both parties fairly.

 

[musical2]

I think I would like to see both. The cost per point, itemized closing cost, and the actual cost per point with the itemized closing costs added into it. This would give better disclosure.

Bart