RAVC Closing

[hibbert6]

There was a Royal Aloha Vacations Club membership for sale on eBay last week. The seller insisted on using a particular closing company of his choosing for a $465 fee, plus the $350 RAVC transfer fee + M/F.

I sent him a question asking why he wanted to use the closing company but received no answer. As RAVC memberships typically sell for less than $600, using a closing company seemed a like a poor investment.

I didn't bid because of this. Was I right to be wary? It sold for $388.

Dave

As RAVC is not a deeded property, is

 

[vacation_time]

No, the seller will pocket $465 in "closing fees". There is no deed for RAVC -- it's a RTU. The resort knows if any money is owed and that will be cleared up at the time the RTU is transfered for the $350 resort mandated transfer fee.

I was in the same dilemma many months ago. I decided to pass on the "deal." If I were you, try to find a unit for sale by owner on the resale market. You can make an offer based on something between what the full cost of the "deal" you saw here and put a little money back into the pocket for the original owner vs. these resellers who want $465 for "closing costs" on a RTU.