I have a buyer but need help with the contract and closing details

Discussion in 'Purchasing DVC' started by desmar9, Nov 26, 2012.

  1. desmar9

    desmar9 Earning My Ears

    Nov 16, 2004
    If I already have a buyer, which I do - where do I get a purchase & sales template to fill out and how do I find out who to go through for closing, the closing costs, etc?
  2. Sandisw

    Sandisw Moderator Moderator

    Nov 15, 2008
    I believe you can call Disney and they can send you forms. I have also heard that for a flat fee that some of the brokers, like the TSS, will handle it for you.
  3. mditkof

    mditkof Earning My Ears

    Oct 17, 2007
    Call up a closing agent like Magic Vacations. That is what they do for a living.

  4. Daddio

    Daddio David's Vacation Club Rentals Approved Advertiser

    Sep 22, 2005
    Yes. Give Brenda at Magic Vacation Title (866-338-7335) or visit their site at www.mvtservice.com

    Excellent service, quick closings, reasonable rates.

    ~ David
  5. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

    Aug 19, 1999
    If you already have a buyer, you can use a full service closing company for $400-500 or so, you can use a timeshare specialty closing company like Timeshare traders for $95 plus direct expenses (recording costs) total around $150 or you can do it yourself for around $50 if you only have one contract, a little more if it's multiple. You'll need a formal contract and that contract has to state specifics including the 10 day cancelation period.

    What you'll need if you do it yourself, assuming it's Orange County, WDW.

    contact DVC for their transfer requirements/documentation.
    Complete the initial transfer form and send this plus a copy of your contract for ROFR.
    Once you have ROFR, record that plus a quit claim deed (template for FL) and the tax form they now have (info on Orange County's website). Caveat, deed requires 2 witnesses extra to the notary (notary can sign separately as a witness).
    Send a copy of the recorded deed plus the second transfer form that'll come with ROFR to DVC. That should be it if you don't need escrow.

    If it's someone you know, I'd do the latter, if it's not someone you know well enough that they'll just get you the payment directly, I'd likely use a closing service. Title insurance is not generally a reasonable add on unless it's VERY cheap but it's paid by the buyer. If you want title insurance, you'll likely have to go the full service route.

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