Resale & Credit Cards

[arich35]

Has anyone ever purchased a resale contract with a credit card? Is it even possible?

 

[TCRAIG]

I think for resale - only the deposit (and maybe some closing costs) can go on a CC….

 

[varyth]

Note that I closed a resale contract with Mason Title, and the deposit I put on my Chase credit card did not code as travel (unlike when buying direct).

 

[Spinster Travel]

You can put the deposit on the card, but the amount will vary by Title Company. Mason allowed up to $5,000 on a 35 point contract I just purchased where Magic Vacation Title only allowed $2,000.

 

[MICKIMINI]

Mason will allow up to $5000. I've done it multiple times. On a small contract with a $1000 or $1500 deposit you have to request in your offer to have the balance put on a credit card (not to exceed $5000). Cammy will send you a link with your closing documents (you may need to remind her to send the link).

There is no benefit in putting more down than required as you could get tied up in ROFR, seller slow in returning docs or some other hold up.

Good luck!

 

[E2ME2]

I bought a small resale through Fidelity, and I was able to put the entire purchase on a credit card.
30 Points at 140/PP totaled $4,200 - with Fees/Dues, etc. this was just under $5K, and they let me put $2500 deposit on CC, then paid balance on CC. Of course, I used my Disney Visa, to get the extra points !
WIN-WIN

 

[pianomanzano]

Duncan Title allows you to pay the remaining balance with a credit card for a 3% fee.

 

[AvidDisReader]

Or there are some Credit Cards that will give you a check to draw on your account. I bought 160 point contract at AKL resale and at the time there was a 12 month interest free promotion. So I wrote the check for cash, deposited in my checking account and wired the money to the title company. Paid off the debt in 12 months so ended up paying zero interest. A real Win Win.