SSR Listing - good deal? UPDATE: Followup Title question...

[erin1715]

There was a 100 point SSR listing for $75/point with:

Feb UY
2016 - 0
2017 - 100
2018 - 100

I offered $73/point and they countered that they want the full price of $75/point. I countered that I would pay full price at $75/point if seller pays closing costs. The agent wrote me back and said "so you want to offer less than your original offer. Please advise."

I guess I didn't think that one through. Is this a good enough deal to snatch up with no negotiating by the seller?

 

[Ladylotus]

This sounds like a good deal to me. Unfortunately, I do believe it has been sold already.

 

[erin1715]

Well apparently it has not been sold because I agreed to pay their full asking price and the broker said she would let the seller know.

Now a followup question – this broker uses First American Title and I have read not so great things about them on here. So, I requested to use Magic Vacation Title. The broker responded by saying, “We have not vetted Magic Vacation Title, have you used them before? Do they do a full title search and title insurance? I believe they are an in-house closing company for one of the other DVC resale companies.”

She said First American gives their clients a discount and are a reputable company. What shall I do?

 

[erin1715]

The more I pondered this purchase, I've decided now is not the right time financially for me to make this purchase so I'm holding off. I've been wanting to buy DVC for years and one day I will, but we're looking to sell and buy a home hopefully in the next year and that will take priority. Hopefully after that, I will be able to join DVC. It's a bummer.

 

[a742246]

The more I pondered this purchase, I've decided now is not the right time financially for me to make this purchase so I'm holding off. I've been wanting to buy DVC for years and one day I will, but we're looking to sell and buy a home hopefully in the next year and that will take priority. Hopefully after that, I will be able to join DVC. It's a bummer.

That is probably a good decision.

 

[erin1715]

That is probably a good decision.

Yeah, being a responsible adult is SO overrated.

 

[mort1331]

Well apparently it has not been sold because I agreed to pay their full asking price and the broker said she would let the seller know.

Now a followup question – this broker uses First American Title and I have read not so great things about them on here. So, I requested to use Magic Vacation Title. The broker responded by saying, “We have not vetted Magic Vacation Title, have you used them before? Do they do a full title search and title insurance? I believe they are an in-house closing company for one of the other DVC resale companies.”

She said First American gives their clients a discount and are a reputable company. What shall I do?

fyi for the future, we have had 1st American twice and had great results both times. Good luck in the future.

 

[TinyTGO]

Well apparently it has not been sold because I agreed to pay their full asking price and the broker said she would let the seller know.

Now a followup question – this broker uses First American Title and I have read not so great things about them on here. So, I requested to use Magic Vacation Title. The broker responded by saying, “We have not vetted Magic Vacation Title, have you used them before? Do they do a full title search and title insurance? I believe they are an in-house closing company for one of the other DVC resale companies.”

She said First American gives their clients a discount and are a reputable company. What shall I do?

I have used both title companies, and they are fine. I have used *** from 2 different real estate agencies so I don't believe that they are exclusively an in-house title company. Perhaps the broker has a personal relationship with that title company? Maybe there is a little rebate involved... you never know.

The only difference I noticed between the 2 title companies is that First American will allow you to put your good faith deposit on your credit card, up to $1,000, free of charge. If your a credit card point wizard, you could save yourself an extra 1-3% rebate from that. *** also allows you to put your down payment on your credit card, up to $2,000 I believe, but there is a $30-40 fee... basically the credit card company fee.

Both do a full title search and title insurance. If memory serves, First American do their own and *** uses Chicago Title.

It's my understanding that the title policy for DVC timeshare is pretty worthless anyway as it does not cover the points of the contract. My understanding, however, is not an expert opinion just anecdotal.