If Disney takes contract, any problems getting deposit back?

[we"reofftoneverland]

We have bad luck and are wondering if anyone has had any trouble getting their deposit back when trying to buy and Disney pulls the contract? I have a bad feeling this will happen to us and am wondering if it is a reason to go with a more "reputable" broker?

 

[BillPA]

I would only deal with a broker that has references on this site. Not to say there are not other good brokers, but why risk your money.

 

[Bing Showei]

We have bad luck and are wondering if anyone has had any trouble getting their deposit back when trying to buy and Disney pulls the contract? I have a bad feeling this will happen to us and am wondering if it is a reason to go with a more "reputable" broker?

Your deposit should've gone to the title company, not your broker. Is your title company one you've seen around the boards?

Why are you worried about losing your deposit?

 

[NickBCV]

We got our deposit back right away from the title company as soon as Disney exercised their right of first refusal on one of our contracts.

 

[we"reofftoneverland]

Your deposit should've gone to the title company, not your broker. Is your title company one you've seen around the boards?

Why are you worried about losing your deposit?

Sorry, I did not write my question very well. We have not put in an offer yet but are going to soon. There are a few brokers out there that seem more professional than others, but one of the listings we are looking at is not on one of those sites. I am wondering if the broker matters in getting a deposit returned should disney take the contract. I did not realize that it went straight to the title company, but that makes sense. So it seems like there should be no issue regardless of broker. Thanks

 

[BillPA]

I would call one of the brokers listed on this site and tell them what you are looking at. They should be able to work with you, and find the owner. As noted, you do not send money to the broker, but to the title company/attorney handling the sale/purchase.

 

[NickBCV]

You have the absolute right as the buyer to pick the title company you want to work with. Some are better than others...some are faster than others.

 

[gharter]

Have you read through some of the problems that people have had with different companies? While there are no guarantees, I would hate to deal with a "less reputable" resale company.
There are many threads about different Resale Companies. I would search those to decide what companies to use or not use.

 

[Jason@dvcstore]

We have bad luck and are wondering if anyone has had any trouble getting their deposit back when trying to buy and Disney pulls the contract? I have a bad feeling this will happen to us and am wondering if it is a reason to go with a more "reputable" broker?

You should never have any issues getting your deposit refunded to you if your property is bought back. The resale company you are dealing with would notify the title company ASAP to refund your deposit if that is what you desired. Of course, some buyers leave the money in escrow for a short time period to see if they can find another listing to purchase.