private resale process, info needed

[Steve@BWV]

I am looking for information on how to proceed with a private resale purchase. I am in the fortunate position of knowing a fellow member who is selling their interest in WLV. I wish to purchase these points, but neither of us are sure on how to proceed. I have searched but online but only found info on how to find a reputable dealer, not info on completing the transaction.

Does anyone have information that could help us out?

Thanks!

 

[RobDoc]

Once you have agreed on a price, the accepted offer must be submitted to DVC for consideration. DVC has First-Right-of-Refusal on all contracts and could purchase the contract at the same terms you offer.

Once DVC has allowed the contract to pass ROFR, it may be closed. Many have used Timeshare Closing Services for this, some have used an attorney and others have handled the details themselves. Cost of the closing will vary depending on the size of the contract and the components you choose to handle yourself.

There is a thread on this board reporting on the contracts that have passed ROFR in recent months that may be of some help.

Good luck!

 

[Dean]

I am looking for information on how to proceed with a private resale purchase. I am in the fortunate position of knowing a fellow member who is selling their interest in WLV. I wish to purchase these points, but neither of us are sure on how to proceed. I have searched but online but only found info on how to find a reputable dealer, not info on completing the transaction.

Does anyone have information that could help us out?

Thanks!

In terms of cost, it depends on how much you want others to do and what company. You should be able to get it down for $300 as a Max including recording fees though many do charge more. You could do it all yourself for around $50, the cost of recording. There are some in between options like have someone else prepare the deed (around $100) and do all else yourself, not hard to do IMO for DVC. Let me emphasize something Doc mentioned. DVC has the right to take it over at the terms offered to you by your friend. Plus, agreeing to one thing and putting something else on the contract is illegal. Also remember that all reservations will be cancelled at closing, no matter what or who.

 

[mickeyc]

You could use a closing service. The timeshare closing service is excellent and I have used them several times. However, they charge a flat fee I think it is up to $500, which will include a title search.

JRA closing service will perform the necessary paperwork for $250 and not include the title search. I think if you want a title search it would cost you $240, which makes the price comparable to the timeshare closing service.

For some individuals they do not feel a title search is necessary. However, if you need more information in this regard you might want to check out the following website. www.tug2.net. There is a wealth of information there concerning this subject.

Good luck.

 

[ellencoppola]

We bought resale & the company used Timeshare Title & More LLC. It cost us 500.00 with title search. There number is 407-855-5343

 

[Mtnman44]

I recently used backporch timeshare closing services to handle the sale of my non DVC timshare. The Flat closing fee was 395

It was relatively smooth and easy. It took longer than we had hoped but I'm pretty sure that was due to Westgate taking a long time to complete the ROFR waiver.

http://www.backporchtimeshareclosings.com/