How do you search the Comptroller site for purchase price?

[ProudMommyof2]

I know purchase price of DVC is on the comptroller site. However, when I search I can only see a deed with points, use year and deed document tax.
Is there anyway to find he purchase price?

 

[kandlsutton]

I was curious too and went looking at CCV deeds recorded in the last month. Appears as is the document tax is currently 0.007 of the total price paid, so you can back into the price per point (doc. Tax/0.007/number of points). Some deeds (***) show the amount paid and some don’t. What surprised me the most was the number of foreclosures (Disney as Grantee) at CCV.

 

[achinforsomebacon]

As noted above, you can back into the price based on the tax. Here is some additional info from another thread:

This is the site you can use to search for Orange Count deeds: https://or.occompt.com/recorder/eagleweb/docSearch.jsp

If you want to search for a specific resort, go to the advanced tab and enter the resort name in the "Legal Remarks". I usually just enter a part of the name in case it's not recorded exactly the same so for BLT, I put "bay lake" (in quotes), PVB I put polynesian, etc. Due to the volume of contracts being sold, you'll need additional criteria such as the beginning date or a date range. If you want to find anything Disney has sold, put Disney in the Grantor box...anything Disney has bought back put Disney in the Grantee box. I usually put 1 in the "Deed Doc Tax" too to eliminate any gratuitous transfers and only give deeds (you can uncheck a box and just select deeds too, but I just use the $1 method).

Most deeds now include the purchase price, number of points, and use year. Some don't include this and ones taken by Disney also don't include this so it's a little more work. If the purchase price isn't included, you can take the "Deed Doc Tax" and divide by .007 (the tax is $0.70 per $100 of purchase price). There are ways to back into the points using the ownership %, but that's more complicated. Since there aren't too many, I usually just do another search on the sellers to get the points/UY from the original deed. If it's been resold a few times, you might have to go through a few iterations. Once you get the hang of it, it goes pretty quickly.

 

[ProudMommyof2]

Thanks!

 

[ProudMommyof2]

So, I went down that rabbit hole.
A few take aways questions-
1.Very sad how may foreclosures happen. Do most people not even try to resell?
2. I realize these documents are lagging indicators of current prices, because it takes some time from offer to logging a deed. How long on average do you suppose? 3 months?

 

[kilik64]

So, I went down that rabbit hole.
A few take aways questions-
1.Very sad how may foreclosures happen. Do most people not even try to resell?

Harder to sell when upside down and have to bring money to close in any real estate transacation.

 

[CarolynFH]

Very sad how may foreclosures happen. Do most people not even try to resell?

As above, many are upside down on their mortgage and would have to bring money to the table. Florida law regarding timeshare foreclosures only allows the developer (Disney) to take back the TS, not to go after other assets to cover the amount owed on the mortgage loan. IOW, the owner who’s foreclosed on simply walks away and loses only what they’ve already paid. They don’t have to pay additional money as they would if they sold.

 

[Mike9865]

As above, many are upside down on their mortgage and would have to bring money to the table. Florida law regarding timeshare foreclosures only allows the developer (Disney) to take back the TS, not to go after other assets to cover the amount owed on the mortgage loan. IOW, the owner who’s foreclosed on simply walks away and loses only what they’ve already paid. They don’t have to pay additional money as they would if they sold.

I paid cash so I'm not aware of how the financing side of buying direct works. My guide mentioned that they don't report to credit agencies though when giving me the initial overview of DVC. Do they report foreclosures to the credit agency? Seems like there would be no downside to walking away if they didn't.

 

[supersnoop]

I paid cash so I'm not aware of how the financing side of buying direct works. My guide mentioned that they don't report to credit agencies though when giving me the initial overview of DVC. Do they report foreclosures to the credit agency? Seems like there would be no downside to walking away if they didn't.

A foreclosure would be a court record, so it should show up on your credit report as a judgement.

 

[ScubaCat]

They'll also foreclose if dues aren't paid for a while, too. I can see situations where someone passes away and the membership is simply abandoned.

 

[kilik64]

Went down the rabbit hole some this weekend. The seller of our contract is a holding company llc. They have bought 50+ contracts since the company started in march of this year. All that I looked at were foreclosures. Our particular contract they bought for about 6k less than we bought it for. Im not sure though if the price reported on the deed includes any back owed MFs etc or not though. Same holding company has sold 12 so far, so looks like they are just flipping them. Not sure how they are getting them so cheap as when I researched it sounded pretty hard to get a deal as Disney and other people looking to get a deal on foreclosure would bid them up to around resale pricing.

 

[ProudMommyof2]

Went down the rabbit hole some this weekend. The seller of our contract is a holding company llc. They have bought 50+ contracts since the company started in march of this year. All that I looked at were foreclosures. Our particular contract they bought for about 6k less than we bought it for. Im not sure though if the price reported on the deed includes any back owed MFs etc or not though. Same holding company has sold 12 so far, so looks like they are just flipping them. Not sure how they are getting them so cheap as when I researched it sounded pretty hard to get a deal as Disney and other people looking to get a deal on foreclosure would bid them up to around resale pricing.

Interesting.
Is the holding company listing with a broker? I wonder if the holding company owns it if they originally financed?

 

[kilik64]

Interesting.
Is the holding company listing with a broker? I wonder if the holding company owns it if they originally financed?

Yes, a big one. As they are associated with another company the broker has. Not sure how much I can say. My wife and I thought it was very interesting the more we dug into it. For one, how in the world do these people have upwards of 250k+ (more likely closer to 400k+, the amounts of the contracts I reviewed ranged for 4-5k to 20k+, so 50+ average 10k per, thats more like 500k in contracts bought in 4! months) in either cash or loans to buy up that many that fast? Seem like possibly the company they work for is using them to buy up contracts to then resell and generate commissions, kickbacks from title companies, etc on the resale side of the business and for possible tax benefits maybe? It might not be anything shady but surely looks like a duck....

 

[Mike9865]

A foreclosure would be a court record, so it should show up on your credit report as a judgement.

Good point. I forgot that foreclosures were court orders/judgements.

 

[Mike9865]

They'll also foreclose if dues aren't paid for a while, too. I can see situations where someone passes away and the membership is simply abandoned.

I hadn't considered that but it makes sense.

 

[JETSDAD]

Yes, a big one. As they are associated with another company the broker has. Not sure how much I can say. My wife and I thought it was very interesting the more we dug into it. For one, how in the world do these people have upwards of 250k+ (more likely closer to 400k+, the amounts of the contracts I reviewed ranged for 4-5k to 20k+, so 50+ average 10k per, thats more like 500k in contracts bought in 4! months) in either cash or loans to buy up that many that fast? Seem like possibly the company they work for is using them to buy up contracts to then resell and generate commissions, kickbacks from title companies, etc on the resale side of the business and for possible tax benefits maybe? It might not be anything shady but surely looks like a duck....

There are also single owners of multiple LLC's buying them up across the various LLC's. They also run a rental company with their DVC points (not a broker) so they buy, strip the contract by renting out the points on their website, then resell the contracts. One will purchase $1mil +/year in foreclosures. There used to be better deals with foreclosures but there is more competition now (still some excellent value there though).

 

[mariam1]

I have a related question. Is there a similar way to search recent purchase prices for Aulani contract?
it was just few weeks ago when you can find good contracts within $100 to $105 but the asking price now is $130 to $160 per point for Aulani and it seems crazy to me… I do not know what are people actually paying…not the asking price. I would appreciate any help with Aulani average costs now. Thank you all

 

[we"reofftoneverland]

Yes, a big one. As they are associated with another company the broker has. Not sure how much I can say. My wife and I thought it was very interesting the more we dug into it. For one, how in the world do these people have upwards of 250k+ (more likely closer to 400k+, the amounts of the contracts I reviewed ranged for 4-5k to 20k+, so 50+ average 10k per, thats more like 500k in contracts bought in 4! months) in either cash or loans to buy up that many that fast? Seem like possibly the company they work for is using them to buy up contracts to then resell and generate commissions, kickbacks from title companies, etc on the resale side of the business and for possible tax benefits maybe? It might not be anything shady but surely looks like a duck....

This is exactly what is going on. We have been watching and researching for some time. With a little digging around over time it becomes very apparent which brokers are shady and which are not. The biggest is very shady.

 

[we"reofftoneverland]

I have a related question. Is there a similar way to search recent purchase prices for Aulani contract?
it was just few weeks ago when you can find good contracts within $100 to $105 but the asking price now is $130 to $160 per point for Aulani and it seems crazy to me… I do not know what are people actually paying…not the asking price. I would appreciate any help with Aulani average costs now. Thank you all

Don’t pay those prices. Total scam. Look at less well known brokers. It makes no difference who the broker is. You could find a contract on your own without a broker. It’s the title company that matters.

 

[kilik64]

Don’t pay those prices. Total scam. Look at less well known brokers. It makes no difference who the broker is. You could find a contract on your own without a broker. It’s the title company that matters.

so much this, broker does diddley. I see why people laughed at this concierge scheme, they don’t do anything after it’s sent to title company lol