Submitting an offer on resale contract

[Wendy12]

Hello! DH and I are planning to purchase DVC through resale. I've been doing my research to figure out the whole process. This forum has been invaluable and I thank you all.

I have a question about submitting an offer. On the Fidelity site, the submission form just has a space for offer amount. Are they looking for price per point, price for all points, or total offer price including maintenance fees?

Are other resale sites similar in the offer process in that they want that same monetary figure in the initial offer?

TIA. Now that we are getting down to the final stages, I am getting a little overwhelmed.

 

[Spartan86]

I think either per point or total for points alone. I agree its a little vague. But, last time I made an offer they confirmed all info via a phone call prior to submitting the offer to the owner so I wouldn’t be super concerned as long as the number represents what you are offering. Alternatively, of course you could just call. You are not bound to it until you e-sign and return the purchase agreement.

 

[Wendy12]

Thank you for your help!

 

[princessbride6205]

I agree Fidelity's site doesn't let you give much info, but as Spartan86 said, they will call you to confirm the details.
Some of the other sites require email/call to make an offer, and some have online forms where you an enter every detail about the offer.

 

[LionKingCPA]

I don't think any broker will relay an offer solely from an online submission. I've used a couple different brokers and they all have called to confirm the details. But I admittedly haven't used Fidelity.

 

[Wendy12]

Thank you all for your replies! I like to go through all the steps before the real deal. I thought I had a good grasp on the process until this step. I was so worried about making an asinine offer and the broker not taking me seriously. Stressful situations bring out the craziest fears!

 

[CraigInPA]

Be aware that as soon as Fidelity sends out an email with listings, people hop on to their site and make offers. They will then choose the highest offer in the first few hours and call to confirm a few hours later if you are the top offer. Once they have confirmed your offer, they'll take it to the seller. I seem to recall a deposit was required if the offer is accepted, with the balance due at closing, but I don't recall whether it was before the offer was submitted, or after the offer was accepted.

 

[heynowirv]

Be aware that as soon as Fidelity sends out an email with listings, people hop on to their site and make offers. They will then choose the highest offer in the first few hours and call to confirm a few hours later if you are the top offer. Once they have confirmed your offer, they'll take it to the seller. I seem to recall a deposit was required if the offer is accepted, with the balance due at closing, but I don't recall whether it was before the offer was submitted, or after the offer was accepted.

Craig,
They like most others require a 10% deposit sent to the Title company with the signing of the contract. Nothing else is required until after Disney refuses it ROFR.Fidelity also tacks on a 195.00 Admin fee.