Interesting side note: I follow the instant sale pricing on DVC Resale Market and noted it must have been recalibrated significantly lower recently, for all resorts.
Yes, and the board sponsor will remove the points guarantee if you don't use their in house title agency. There have been threads about it here.
Interesting…..
And, aside from the board sponsor, I have wondered how this would work in practice with other brokers. Both of my resale purchases were through fidelityrealestate.com, and I know the purchase contract had a provision for how much compensation would be due if there were any missing points (I think it was $25/point), but what happens if you close, the contract is transferred and 50 points are missing? Ok, you've got a contract, but I don't think the broker or the title company are under any legal obligation to assist you with recovering funds from the seller. And, once you close, I assume all the funds are dispersed, so it's not like the title company can just withhold money.
I believe @TheDailyMoo had this happen with Fidelity and Fidelity paid what was owed in the contract for the missing points, not the seller.
Interesting. Very good to know. I wasn't very worried about it, but sort of wondered to myself what would happen if it did.
Took me a second to find, but here is the discussion I remember: https://www.disboards.com/threads/u...resale-buyers-fidelity-made-it-right.3935884/
Only 1 company does this. I use them only because of this, they are so so slow and the owner isnt the nicest, but I suck it up and use them anyway.
