If you buy two contracts from a resale co...

[kerri0616]

I have seen 2 smaller contracts that have the same use year. I like the idea of having 2 separate contracts in case we decide to sell them at some point.

Here's my question...will we have to pay double closing costs? If one is a 75 pt and the other is a 25 pt, I assume closing costs would be cheaper if we just bought a 100 point contract, right? Any chance the resale co would treat it like a 100 pt contract?

Thanks all!

Kerri

 

[Sandisw]

Yes, you will be charged two closing costs as these are likely from two different sellers.

And, yes, the costs for one 100 point contract would be less than the two. The only piece is that you can certainly negotiate who pays closing. It may be something to consider when making your offer.

 

[Skrutti]

I recently bought a contract of 75 BCV points and that was without me knowing split in one 25p and one 50p contract. I paid one closing cost, but in my case it was the same seller maybe thats why they did not bother to tell me.

 

[robertdangelo]

I have seen listings on other sites where it is listed as split between 2 contracts.

 

[Y-ASK]

It really depends on the how the contract is written. As an example if the member purchased a contract but had it split up you might only have to close once if the contact numbers are like this:
150 Pt 123456.1
50 Pt 123456.2

This means that you the member could sell just one of those contracts or both. I'm not sure about membership cards because I purchased different use year months but I had two different membership cards for the two different resale contracts at one time.

Y-ASK