Question for those who bought a resale....

[shari2shop]

We have found a Boardwalk property that we are interested in. It is listed on the internet. Is it acceptiable to make an 'offer'? If so, how do you do it??? Do you offer a different price per points or do you offer a different total dollar amount?

Also, do I need to have a sure way of financing before I make an offer or can I want to see exactly how much money I need before getting the financing??

Thanks for the help!!

Shari

 

[Disney1fan2002]

I bought a resale, but the price was already low enough to be concerned that Disney would buy it back, so I did not make an offer. I paid the asking price. You certainly can make an offer. Call the salesperson. I would just be carful not to offer too low, or Disney will take it out from under you. I believe you would offer a price per point. Not a dollar amount. So if they are asking $74/point you might counter with $71/point. (just an example)

Hope this helps. Also, what are the terms for maintenance fees? You usually have some bargaining power there also.

 

[stacy6552]

As far as the financing goes, remember this: You will need to send in a deposit, 20% is what we were told. So you may want to line up the money first, if you dont have that in savings. Our experience says, "dont play the cash flow game."

 

[Dean]

There are precious few options for financing a resale. You will essentially need the entire amount cash or something equivilent to buy a resale. The only options I know of for financing are a loan company called Tammac, home equity or personal loan including a credit card. You will be looking at only 4-8 weeks likely from acceptance of your offer to closing with the full amount due immediatlely and not enough time to make arrangements at that time. It's possible but I doubt you'll find an owner willing to finance.

Otherwise you decide what you think the resale is worth and make an offer if that's lower than the offering price. Include who pays fees, closing and the total cost of the deal outside those two items. Never make an offer at $X per point though you should always think of it in that way. It is ok to offer $XXX and include the $ per point that works out to.

 

[JimC]

I would add to Dean's post that you should specify the total number of points you are acquiring over the remaining years of the contract and the number and status of special points (banked. borrowed, holding account).