resale financing

[Kingdome8]

Monera financial. Has anyone used them? Are they legit ?

Saw a contract I liked. Wasn't going to buy in til November or feb til after some work bonuses. But I'm wondering if using them for some of financing

Thanks
Also any reason not to buy resale?
I like price of resale. Just don't want to have it back fire down the road

 

[ziravan]

Used Monera. Liked them.

They worked very well.

Responsive.

I'd use them again.

 

[ziravan]

I'd buy resale unless you want a new currently for sale resort or a small contract.

But. After you get an account, I'd add on 25 points direct to restore perks/membership to your account. I strongly advise that because I believe that it's only a matter of time before DVC creates a minimum number of points necessary to qualify (my guess would be 100 or more. Maybe 160, a historical bar for DVC and about a week's worth of points depending on use).

IF they do that, they've historically grandfathered.

I think if you're buying a few hundred resale points, it's worth a 25 point direct contract to qualify (and grandfather) your membership.

 

[Dean]

You should probably look at light stream It's likely going to be cheaper and easier.

 

[Dream big]

Monera financial. Has anyone used them? Are they legit ?

Saw a contract I liked. Wasn't going to buy in til November or feb til after some work bonuses. But I'm wondering if using them for some of financing

Thanks
Also any reason not to buy resale?
I like price of resale. Just don't want to have it back fire down the road

Just used Monera. Very, very easy. Quick and no issues at all. No credit check and they don't report to the credit bureau in case that matters to you.

 

[Kingdome8]

Thank you. And how much do I need out of pocket? I will have a nice down payment in November but wanted to jump on a contract I saw. Wonder if need funds before nov. waiting on reply from them

 

[davedmaine]

Thank you. And how much do I need out of pocket? I will have a nice down payment in November but wanted to jump on a contract I saw. Wonder if need funds before nov. waiting on reply from them

Contracts will always be there. Perhaps you should wait until November?

 

[Kingdome8]

Will resale owners always be able to trade rci?

 

[Perelandra]

I used light stream. Really easy and had best rates.

 

[ziravan]

Will resale owners always be able to trade rci?

Probably. DVC has a contractual relationship with RCI and they already move precious little inventory into RCI (somebody in DVC has to use their points in RCI to free up points for DVC to put rooms into the system).

Even if DVC did restrict RCI access for resale buyers in the future, their history suggests they'll grandfather current owners.

 

[Deb & Bill]

I had someone on FB tell me that Monera was the only company legally able to hold a lien on DVC ownerships. I called bull on it, but he insisted.

 

[Dean]

I had someone on FB tell me that Monera was the only company legally able to hold a lien on DVC ownerships. I called bull on it, but he insisted.

That's incorrect as you know. This would be a legal issue and not one DVC had control over. Anything written as a mortgage and properly recorded would be legally enforceable.

 

[Dream big]

Thank you. And how much do I need out of pocket? I will have a nice down payment in November but wanted to jump on a contract I saw. Wonder if need funds before nov. waiting on reply from them

You pay your 10% down with your offer. You can select a greater down payment which will reduce your interest rate, but you don't have to. You can also select a 5 or 10 year repayment which also effects your rate. At closing, you pay whatever additional you wanted to put down, just make sure you communicate with Monera exactly how much you want to borrow before you get to closing so all your documents are accurate.

Hope this helps.

 

[mustinjourney]

Thank you. And how much do I need out of pocket? I will have a nice down payment in November but wanted to jump on a contract I saw. Wonder if need funds before nov. waiting on reply from them

You probably won't have to pay the full freight until November anyways.

Usually you just pay a $1000 deposit when you sign the contract, and most of the time that can be via credit card.

 

[NotAMouse]

Saw a contract I liked. Wasn't going to buy in til November or feb til after some work bonuses. But I'm wondering if using them for some of financing

If you're talking about a relatively short time until you have the funds available, you may be able to avoid financing entirely by making the offer subject to closing no sooner than a specified date. Conditions like that aren't unusual (although it's usually the sellers who put this condition in so that they can complete a vacation before the closing). The process from offer acceptance to closing often takes 2-4 months, so I don't see a reason a seller would hesitate to accept an offer in September subject to a closing on or after a date in November.

Getting the seller to agree to wait until February would be harder, but not necessarily impossible -- especially if you were to factor into your offering price the interest and fees you would save by avoiding financing.