24 Mar Do You Pay Commission When You Buy Through DVC Resale?
Imagine walking into the Magic Kingdom, down Main Street, U.S.A, seeing the castle and smelling the sweet scents while holding the hand of a loved one. Thinking about planning a Disney vacation every year is a dream for many families and that’s where Disney Vacation Club comes into play. The Disney timeshare is a point based system where you choose a ‘Home Resort’ and are given an advantage to book there eleven months out every year, securing your annual spot in the magic. There’s so much more to know but that’s the main idea. When you’re considering your options there are probably some questions regarding costs like do you pay commission when you buy through DVC resale? Are there other DVC resale costs buyers and sellers should know about? We’ll discuss these and provide insight in this blog post but remember you can always contact an Expert at DVC Resale Experts to have your specific questions answered regarding buying or selling DVC resale!
Do You Pay Commission When You Buy Through DVC Resale?
Do you pay commission when you buy through DVC resale? No, you do not pay commission when you buy DVC resale. Similar to residential real estate transactions, the seller pays commission on resale DVC transactions. Though Disney Vacation Club is a deeded timeshare, it is considered the same as a condominium as it pertains to some rules like annual meetings. According to Disney Vacation Club, a DVC purchase is a real estate transaction. You purchase, ‘an ownership interest in a Disney Vacation Club Resort. A deed is recorded in public records representing your ownership interest. This real estate interest entitles you to an annual allotment of Vacation Points that you use to reserve accommodations through Disney Vacation Club.’ A licensed real estate broker, enter DVC Resale Experts, helps you complete the sale of a Disney Vacation Club contract on the resale DVC market. Disney Vacation Club, does not have a resale department itself and even recommends contacting a licensed real estate professional in scenarios pertaining to reselling vacation points.
Are there other DVC resale costs buyers and sellers should know about?
Just like in traditional real estate, resale DVC Membership transactions have closing costs. Usually the buyer pays closing costs but this is negotiable. However, there is a $150 estoppel fee paid by the seller. Closing costs vary based on the state the Home Resort is located in and the price of the sale. To provide a general idea, if the resale DVC contract you’re buying is $20,000, closing costs in Florida would come in at about $678. Out of the current 15 Disney Vacation Club Resorts, 12 are located in Florida including all those at Walt Disney World Resort. At Disneyland Resort in California, The Villas at Disney’s Grand Californian Hotel & Spa closing costs are mostly comparable and the same goes for Disney’s Hilton Head Island Resort in South Carolina. Closing costs are different and more expensive for Hawaii where Aulani, A Disney Resort & Spa is located. Resale DVC buyers may also need to pay annual dues up front depending on when the contract is purchased. Annual dues vary by resort and are paid depending on how many points you have. For example, annual dues at The Villas at Disney’s Grand Floridian Resort & Spa are $7.01 per point as of 2022. Based on this, if you buy 100 points your dues would be $701.00 for the year.
DVC Resale Experts
DVC Resale Experts is a licensed real estate broker that specializes in buying and selling DVC points. Become a DVC member through resale DVC and save money on Membership. You can count on the Experts to guide you through the process and answer questions along the way. To start exploring, see current resale DVC listings.