Paying deposit

[Harrywotsits]

I'm hoping someone can help asap. I need to pay my deposit on a resale contract and want to use Revolut. I need to add card details on the credit card authorisation form - do I use the physical card details or the virtual card details? Or does it not matter? Thank you!

 

[ahward]

Hi I have the same issue can help you? Also how did you pay the final balance? As there is a charge do you have to add this to the deposit amount?

 

[Harrywotsits]

It didn't matter which card. I used the virtual one and it worked fine. Yes I added the charge amount to the deposit (but maybe double check if that is how they would like you to do it). I was going to use my bank for the final amount for peace of mind but would have had to go into a branch to transfer that amount of money in one go. I used XE and it was very easy.

 

[JLaycock]

Hi both,

Sorry if this is a silly question (i'm new to the DVC market but have being doing as much research as i can!), but is the final balance, which is due upon closing, any outstanding balance which the finance company has not paid? By that i mean, if you've loaned 20K for a 25K contract, the finance company will have paid the 20K already and the final balance will be 5K. Or is it that the finance company transfer you the entirety of the loan and you then pay the whole outstanding balance across to the title company? And by that i mean the finance company will transfer you the loan and the full 25K will be payable as the final payment?

Thanks!

 

[Rockenroller]

Hi both,

Sorry if this is a silly question (i'm new to the DVC market but have being doing as much research as i can!), but is the final balance, which is due upon closing, any outstanding balance which the finance company has not paid? By that i mean, if you've loaned 20K for a 25K contract, the finance company will have paid the 20K already and the final balance will be 5K. Or is it that the finance company transfer you the entirety of the loan and you then pay the whole outstanding balance across to the title company? And by that i mean the finance company will transfer you the loan and the full 25K will be payable as the final payment?

Thanks!

I believe the finance company pay the title company directly and you are billed for what’s remaining on the balance, so in your example would be 5K