Yowza -- did you know this about HHI / SC?

[Brownieone]

I just bought 50 HHI points and paid $425 closing. You do have to keep that closing cost in mind when you agree to a price ... it really adds up on the smaller contracts.

[AllieV]

Originally Posted by Brownieone

I just bought 50 HHI points and paid $425 closing.

Which broker/seller did you go through?

[AllieV]

So I put the offer in Monday and as of today hadn't heard anything. I called the realtor who was baffled and would call back. Two hours later, I got a call that the seller heard my offer and decided to take it off the market.

[kristenrice]

Originally Posted by AllieV

I don't think Disney sells this for as low as $80 pp.

Yes, the current selling price direct from Disney is $80/point at HHI. I don't know what the "real" minimum requirement is for new buyers, though. Everything in Disney's official information indicates that new owners must buy a minimum of 160 points. However, it is also widely reported that people have bought new contracts, direct, for as few as 50 points.

We did our add on of 50 points in January 2011 for a total of $4000 which included the closing fees. Yes, it had to be closed in SC so it took quite a while. Since it was a direct purchase, it didn't really matter since I had the points immediately.

Assuming a 50 point contract with the proper UY ever became available for $55/point, we would have saved about $700 by going resale. It wasn't worth it because we wanted the points and the right contract just wasn't coming available.

Good luck!

[ELMC]

Originally Posted by kristenrice

Yes, the current selling price direct from Disney is $80/point at HHI. I don't know what the "real" minimum requirement is for new buyers, though. Everything in Disney's official information indicates that new owners must buy a minimum of 160 points. However, it is also widely reported that people have bought new contracts, direct, for as few as 50 points.

We did our add on of 50 points in January 2011 for a total of $4000 which included the closing fees. Yes, it had to be closed in SC so it took quite a while. Since it was a direct purchase, it didn't really matter since I had the points immediately.

Assuming a 50 point contract with the proper UY ever became available for $55/point, we would have saved about $700 by going resale. It wasn't worth it because we wanted the points and the right contract just wasn't coming available.

Good luck!

You're right...now that DVC appears to be selling 50 point contracts, the divide between direct and resale becomes much narrower (due to amortizing closing costs, etc.). Your savings per point may not be multiplied by enough points to make it worth trying to find a resale.

[Dean]

Originally Posted by ELMC

You're right...now that DVC appears to be selling 50 point contracts, the divide between direct and resale becomes much narrower (due to amortizing closing costs, etc.). Your savings per point may not be multiplied by enough points to make it worth trying to find a resale.

Remember that DVD also charges closing for new buyers though often less than for a broker based resale.

[ELMC]

Originally Posted by Dean

Remember that DVD also charges closing for new buyers though often less than for a broker based resale.

True...but my understanding was that it is like $60 for a 50 point contract as opposed to $325-$425 for resale (depending on the broker).

[Dean]

Originally Posted by ELMC

True...but my understanding was that it is like $60 for a 50 point contract as opposed to $325-$425 for resale (depending on the broker).

I don't know the numbers for 50 pts and I'm not sure we've seen enough to know that this is actually happening or will be for any length of time. I seem to recall around $225 for a normal starting contract. I can get any contract transferred for WDW for under $60 but the brokers wouldn't be willing to go that route, you'd need to find a private seller. My point was for one to look at the numbers, it's not zero vs several hundred.

[AllieV]

So I put in an offer on another small contract but the agent says it's been listed since early March and generally people who've had them on a while tend not to respond quickly or at all, especially if they don't want the offer.

The agent also said that two properties at HHI have been ROFRd this month where the offer was the same as mine and accepted ($39 pp). They've never ROFRd their HHI properties before, so this was surprising to them. I may look over the offer and up it a buck or two (it's a small contract) and make it up elsewhere.

I also learned from this agent that Disney never touches a property in a bankruptcy. It's too much paperwork. That's where the best deals are for us little buyers, though, assuming we don't mind waiting for the judge's approval. The owner doesn't care how much they get and Disney won't take it back.

I have found my new target.

[AllieV]

p.s. I did ask about the $648 covering everything including title insurance, etc, and yes it does. The attorney alone is $325 which ups the entire cost.

[Mick West]

I live in SC and own at HHI. SC is an attorney state but like everything else, that is a negotiable charge/rate. I bought my HHI resale and didnt hesitate to tell the company that I'd get a closing attorney if need be. I paid more than I really wanted to but the attorney fee ended up around $250.

[lmb]

We just signed a contract for a 50 pts HHI contract and I spoke to several agents before we made the offer. Seems like they are offering 2 prices for HHi contracts; 1 is 375-425 with no title insurance and the other is 600-800 with title insurance. The agent said that title issues would generally be disovered by DVC during ROFR anyway so we just opted for the 375 no title insurance closing cost. Hope this helps!

[Brownieone]

Originally Posted by alliev

which broker/seller did you go through?

tss

[KS_Disney_Dad]

We bought 25 points last year and I don't remember point cost but closing was $425. We are also listed in the Beaufort County website as owners. We used TSS.

[bears163]

Wow 650 is alot