Questions for resale buyers or sellers

[Lissete]

We are selling our points and need some information.

1) What kind of contract do we use? Can a standard Residential Real Estate contract be used?

2) We have 2 contracts which we are selling together, will the closing costs be charged twice?

3) Does anyone have any recommendations for a good title company?

All information will be greatly appreciated!

 

[RobDoc]

If you are wanting to sell your contracts without the help of a broker, you might want to look at tug2.net (Timeshare Users Group) or tstoday.com (Timesharing Today).

They can assist with a means to list your contracts and also offer advice/guidance about conducting the sale. (Timesharing Today even offers prepared contracts for both selling and renting timeshares).

As for a closing company, it will depend on where the timeshare is located, but many have used Timeshare Closing Servcies, Inc in Orlando.

If you are selling two contracts, there will likely be two closings- since each will have to be recorded with the county. A closing agency will be the best one to answer tat question.

Be aware that For Sale posts are not allowed on this site, so please don't provide any more specific information that you already have about what you are trying to sell.

Good Luck!

 

[Lissete]

Thanks for the information. We already have a buyer but were wondering what kind of contract to use and need information on closing.

 

[RobDoc]

Also be aware that you will have to present the purchase offer to DVC for approval as they have Right of First Refusal on the sale and can even buy it themselves.

Timeshare Closing Services is at 407-370-2373

Good luck!

 

[SleepyatDVC]

Lissette,

We purchased a resale from a private seller and used Timeshare Closing Services (The Timeshare Store uses them) for the closing. They even provided a sample contract that you could use for the transaction. You could use that as a starting basis and modify it to suit your specific needs. I also purchased through a broker (Jaki) so I knew what their contract looked like. Every broker has different contracts.

The cost of the closing was around $450 (I forgot the exact amount) per 150 point contract. They hold the money from the buyer in escrow. I think is well worth the cost for peace of mind for the buyer (clear title). Maybe the buyer would be willing to split the cost of the closing with you. We actually paid for the entire closing because the price was right and it had a lot of banked points.

Sorry to hear that you have to sell your DVC contracts. Good luck.

 

[Shontell_Crawford]

You can call Timeshare Closing Services 407-370-2373 or Holland and Knight at 407-425-8500 to help with the closing.

Both charge comparable closing fees. If you have any specific (not legal) questions I can help with, feel free to call or e-mail me.

Regards,
Shontell