Question about resale closing costs

[DizGirl20]

I am familiar with all the resale agencies and subscribe to their listing newsletters. In fact, we just purchased an add-on in June. But what I am wanting to know is this: are the closing costs the same with all resale agencies, no matter which agency you use? I see a few contracts I am tempted to bid on, just wondering if the costs may be higher at one versus another or if there is some kind of standard formula they all use?

Thanks!

 

[robert@dvcstore]

Closing costs are based on the selling price. They are similar at all DVC resale brokers, but may vary by a few dollars.

Closing costs are set by the escrow company that will be handling the closing. They costs cover title search, title insurance (if issued), recording the deed with the county and working with DVC to transfer the membership into the new owners name.

If the selling price of a property is between $10000 and $12000, closing costs are $450. If selling between $12000 and $14000, closing costs are $475. Etc. The more you pay for the property, the higher the closing costs will be.

Robert

 

[DenLo]

But don't some of the resale companies charge fees to buyers and sellers? I thought I read that here on the DISboards.

 

[likestravel]

here are our closing costs that we got today statement or closing fee $223, abstract and title search $75, Title insurance $82, recording fees deed to orange county $18.50, State tax stamps $100 also had to pay the dues

 

[Dean]

I am familiar with all the resale agencies and subscribe to their listing newsletters. In fact, we just purchased an add-on in June. But what I am wanting to know is this: are the closing costs the same with all resale agencies, no matter which agency you use? I see a few contracts I am tempted to bid on, just wondering if the costs may be higher at one versus another or if there is some kind of standard formula they all use?

Thanks!

They will all be similar if you use the in house or affiliated company, however, there are companies that do timeshare closings as little as $75 and getting a full service closing for $300 or less isn't difficult.

Timeshare Traders is $75 plus recording costs.

Timeshare Transfers does full service closing for $300.

Timeshare Title Inc is $275

JRA Timeshare Closings is $275

The one thing to note is that the title insurance can be make or break as it can vary a lot and usually isn't included as part of the closing but it optional. It is my opinion that title insurance for a timeshare is generally overkill if you're will to do a little work on your own. The other thing to consider is that some won't do ROFR.