Hi both,
Sorry if this is a silly question (i'm new to the DVC market but have being doing as much research as i can!), but is the final balance, which is due upon closing, any outstanding balance which the finance company has not paid? By that i mean, if you've loaned 20K for a 25K contract, the finance company will have paid the 20K already and the final balance will be 5K. Or is it that the finance company transfer you the entirety of the loan and you then pay the whole outstanding balance across to the title company? And by that i mean the finance company will transfer you the loan and the full 25K will be payable as the final payment?
Thanks!