Interesting answers to our resale questions...

[Boardwalk Garry]

My wife and I are considering doing a resale at Wilderness Lodge. We were told by Kristy at TSS (who my wife said was kind of rude) that closing costs were not negotiable and that we had to pay the entire balance of the sale within 5 DAYS of our signing the contract she faxed us. That doesn't sound right to me and makes me feel like we might be getting the bum rush.

Any thoughts? Thanks in advance...

 

[helenabear]

From what I understand, the closing costs were not negotiable, but you could see if the seller would say. I was required to have my 20% down within 5 business days of the contract being sent. The remaining was due the day of closing. You might want to call back and find out for sure though. Good luck

 

[Dean]

The closing costs are not necessarily negotiable, just who pays them. You could always ask to use a different closing company if you find one cheaper, but they may not like to as I suspect they either get a kickback or it's an in house deal. Paying in full up front is nuts, you shouldn't pay the full amount (over the ernest money of $500 to $1000, 20% is VERY high IMO) until you're actually ready to close. Sounds like she just wanted to get your wife off the phone and off her back. Ask for another agent or work with another company.

 

[helenabear]

I guess I saw nothing wrong with the 20%... all places I talked to (one even being the board sponsor) told me that as well. It sounded like it was the "standard" now. But if something fell through with the deal I was able to get the money back from all I understood.

 

[JimC]

We were very happy with Pat Spell at the Timeshare Store. She was very professional, prompt and patient. She knows DVC very well.

We bought the OKW contract with her help and we bid with the seller paying all closing costs and current year dues. As Dean said, who pays those costs is negotiable.