How much $ to start resale process?

[123Disney]

It has been awhile since I bought my resale contract from the Timeshare Store. I remember I had to put money down to start the process. Is it 10% or a set amount? Can I use a personal check for this or does it need to be a bank check? Must be getting older. Can't remember specifics.

 

[5forDiz]

Just did one this year with The Timeshare Store; 10% deposit, personal check.

Good luck!

 

[123Disney]

Thanks!

 

[Melani]

I have been emailing back and forth with an agent at TS and I asked him this just yesterday when the contract I bid on sold 2 hrs later.

He said no they don't hold Earnest Money in escrow or keep a deposit or retainer. (I thought if they had a deposit from me they would know I'm serious and act faster in my behalf). He said once the offer has been accepted by the seller, the buyer has 7 days to return the paperwork and come up with the cash.

Is this true or was I mislead?

Melani

 

[lapeter]

I am in the process of trying to buy through GMAC Internatinal. Waiting for Disney. We made a verbal offer, seller accepted, opened escrow with a $500 deposit on a credit card. Balance of money (if Disney doesn't ROFR it) at closing.

 

[Rileygirl]

Have you heard anything yet Lapeter? Pixie dust to you

We used Jaki and **** from **********.com. We did not pay anything until **** called and said the seller verbally accepted our offer. We then faxed our contract to ****, along with a $1000 deposit on our visa card - this is the money sitting in Escrow. We wont pay the balance until closing.

 

[5forDiz]

The Timeshare Store : Just sent 10% deposit on price of contract along with signed paperwork within 7 days of seller accepting offer. Did not need to send Escrow or any other amounts.

Sent a personal check too for deposit.

Balance due for closing had to be sent by certified bank check.

We did this 9 months ago; don't know if their policies have changed - speak to Jason at TTS.

 

[dgb]

If you send a bank draft as your deposit, be aware that it could be lost in the mail...sounds far-fetched, but it happened to us. Even if you overnight your deposit to TTS, it is sent regular mail from there to the escrow company, and a number of deposits were lost because of this recently.

 

[lapeter]

Today is 13 days since it went to Disney. Still waiting.
Al

Have you heard anything yet Lapeter? Pixie dust to you

We used Jaki and **** from **********.com. We did not pay anything until **** called and said the seller verbally accepted our offer. We then faxed our contract to ****, along with a $1000 deposit on our visa card - this is the money sitting in Escrow. We wont pay the balance until closing.