resale closing costs?

[Peterd]

Anyone know what the estimated closing costs would be when you buy a resale at one of the timeshare stores? Do you know what the recent resales have been going for per point before closing costs kick in? Thanks

 

[jctwizzer]

Our Closing Costs were around $450.....I think that's a fairly standard amount

 

[SleepyatDVC]

Closing costs depend on the purchase price of the resale. When I bought in April/May, they were as follows:

$375 - up to $2999 purchase price
$395 - $3000 to $6999
$425 - $7000 to $9999
$450 - $10000 to $11999
$475 - $12000 to $13999
$495 - $14000 to $15999
$525 - $16000 to $18500
call broker or closing company for closing costs for purchases over $18500

Hope this was what you were looking for.

 

[Peterd]

Thanks for the closing info! I know you can negotiate for the price per point, does Anyone know what the resales have been going for? BWV or OKW?

 

[mooses41]

The average seems to be around 68pp. The best I've seen is 60pp. Try to get the seller to pay 1/2 the closing costs.

 

[SleepyatDVC]

Maintenance fees are negotiable also. Sometimes sellers won't split closing costs but willing to forgo reimbursement of current year's maintenance fees. (Assuming all points available) Not much difference sometimes! It's psychological I guess - esp., if maintenance fees were already prepaid in January. Note that sometimes they don't even ask for mf reimbursement - less likely through broker.

If you get a lot of banked points, they usually ask for current year's maintenance but not for prior year's. Depending on the amount of banked points, it's 'value' could compensate for some or all of the closing costs.

Each resale needs to be evaluated individually based on cost per point, banked/borrowed points, mf reimbursement, and closing costs.

Just some things to consider when purchasing resale.

 

[kem330]

Closing costs:
200 points at BW Feb 15, 2001
Purchase price: $12,400.

Closing Costs:
Record waiver of right of first refusal: 6.00
Record Deed: 7.00
Doc. Stamps on deed: 86.80
Settlement fee 75.00
Title Search 75.00
Doc Prep 103.90
Title ins. 71.30
courier fees 25.00

total: $450.00

Interesting how all those odd numbers add up into an even $450!

This was done through Holland and Knight for A timeshare Broker (the oft mentionned Jaki A.)
It was completed from initial deposit to deed recorded in 20 days. They hand deliver the deeds to the courthouse and don't charge any extra expedited fee.