How Much are Closing Costs?

[Alexander]

I have talked to our rep at the TSS and she said closing costs are "about $500." Their website says closing costs start at $400 and go up. I know it's based on the number of points.....but can someone help me.....We are looking at purchasing 200 SSR points through TSS, and I'm trying to decide if it makes sense to do this right through DVC with the current incentives or go resale.

 

[Cruelladeville]

It depends upon the price of the resale, and whether or not you are getting current/banked points or not. Saying "around $500" is a good guess, because it's usually $450-$550 to close. You see, you have to pay for some of the dues, and maybe the $100 transfer fee that Disney charges, besides the cost of the points themselves. If you are paying $12,000 for points on resale, add another $600, and then divide that by the amount of points you are buying to see what you paid. Buying direct thru Disney has the advantage that you have financing available, and there are no closing costs--and the points are immediately available for making reservations.

 

[Deep-Thots]

Hi, Alexander.

Fwiw, when we purchased a 200-pt resale at SSR through TTS (this past summer), we got a contract with 200 pts that came on 8/2004 at $78 ppt. Our closing costs were $400. So, $450-550 closing costs (based on the general increase in price per point) sounds right.

Whether you buy a resale or go through DVC can, as Cruella pointed out, be dependent upon many different scenarios (when you want to go to WDW next, how you want to finance, etc.).

Good luck with your decision!!

 

[Dean]

Timeshare transfers charge $250 for a full closing though they are about to start a $50 fee for ROFR though I believe it will come off the $250 if DVC doesn't take it. You should be able to chose your own closing company and most resale companies will let you but reluctantly. Usually they either own the closing company or get a kick back.

 

[Cinderpals]

Hi,
I was quoted $500 closing costs for 200 pts. Does not include whatever maintenance fees for '05 points.

 

[Alexander]

Does this sound right?

The way DVC is offering the points for sale:

$95/pt. with $10 off/point, actually $85/point, plus, they are offering $2000 (based on a 200 pt. purchase) back because there are no available units at SSR right now...No closing costs would be $15,000.....and they will take care of financing for me. Points won't be available until August.

The resale we're looking at is:

$79/point for 200 points.....$15,800 plus closing costs. The only factor I can see that would make me choose the resale is the use year which would be sooner than August.

 

[No1HawkFan]

Timeshare Transfer can do it for $250 but they don't provide Title Insurance. Actually most all cloing companies can do a closing for $250 or less if you don't want Title Insurance.

 

[dizplanner]

I paid $450 for 150 points. I posted the breakdown of exactly what that intailed in another post.