Resale Question

[LoveMyDVC]

What do you all think about a resale for 200 points with 20 points banked from 2001 and all 2002 avail? Use year Dec. When do 2001 banked points need to be used? Can only bank 50% of 2002's points, correct? Offered at 72.50. All 2003 points avail. It's at BWV. Any input would be appreciated.

Any idea as to closing costs?

 

[RobDoc]

The banked 2001 points will need to be used by Nov. 30, 2003.

2002 points had to be bamked by May 31, but 50% can be banked until August 31. I might consider asking the seller to bank the points right now using his one-time exception (make it a condition of sale unless you intend to use the points this year).

Closing costs will likely be in the $450--500 range. Sounds like an OK deal.

Good Luck!

 

[5infam]

Sounds like a good deal with all of those banked points. If you are not going to use all of them this year, you may want to rent some points out. This rental will help offset the cost of the contract and should bring your total per point average cost down.

 

[TroyWDW]

Sounds like a great contract.

Closing costs should be in the range of $450 to $500.
Closing fee - $75
Title Search - $75
Document Prep - $100
Title Insurance - $85
ROFR Waiver - $12
Record Deed - $6
Deed Stamps - $100
Mailing Fees - $25

I don't know if the seller is asking to be reimbursed for any maintenance fees (this is negotiable). I would value the banked points somewhere between $5 and $9 per point. These type of resale contracts truly have "magical beginnings". Good luck.

Troy