Resale question

[Desnik]

Anyone know when you purchase a resale, how negotiable is the price and can you negotiate for the seller to pay the closing cost if you don't haggle with the price?

 

[bobbiwoz]

We tried to purchase a resale, and the seller was going to pay the closing costs. Disney exercised ROFR. Some say that makes the contract more attractive to Disney since it's less money that Disney has to pay out to the seller. Don't know if that's why, but they did buy the contract.

Bobbi

 

[CarolMN]

Pretty much everything is negotiable with a resale contract. The major exception is the number of points - no one but Disney can "break up" a contract into several smaller contracts.

In addition to the price per point, many here report that they have negotiated who pays annual dues for the year in whcih the contract changes hands. Closing fees are also often negotiated, although the buyer usually pays those, just as the seller usually pays the broker's commission.

Make what you consider a reasonable offer and see what happens. Sometimes the seller will just say no , sometimes he/she will make a counter offer and sometimes your offer will be accepted. Keep in mind that Disney does have ROFR and if the deal is "too good", you may lose it to Disney. Sellers probably doesn't care who buys it if they get what they wanted out of the sale.


Good luck!

 

[twotoohappy]

bobbiwoz-
I'm waiting to see if Disney's going to exercise their rofr on the resale I want. Could I ask how much you were going to pay per point if that was it? I'm paying the closing costs and this year's taxes.
I hope it goes through and soon!

 

[swrdfghtr]

FWIW, we just bought at $64/pt and Disney let it go. That's in the lower range of what I've seen offered; we were basically buying 2005 pts, though, because the 04 pts had been borrowed into 03 already. Fine by us - we'll borrow from 05 for our 04 stay <g>.

Originally posted by twotoohappy
bobbiwoz-
I'm waiting to see if Disney's going to exercise their rofr on the resale I want. Could I ask how much you were going to pay per point if that was it? I'm paying the closing costs and this year's taxes.
I hope it goes through and soon!

 

[JeffPort]

When we bought our resale contract in December, I offered $2 less than the seller's asking price, indicating that I would execute the purchase contract immediately if my offer was accepted. The broker immediately called the seller with my offer. He called me back in about 10 minutes with the seller's acceptance, faxed me the initial purchase contract for execution. We closed last week.

It's really a simple process. The only stressful part is waiting out Disney's ROFR authorization. We used Jerry at the Timeshare Store and I was very happy with his service.

 

[bobbiwoz]

I'm not ignoring the questions on the contract, I just don't remember, perhaps we were paying $68 each VWL. In the future, we will bid on a resale again.

Bobbi