Are you confused about what it actually costs to buy an HGVC timeshare in 2016? We constantly get asked by our clients what fees are involved beyond the purchase prices listed on our website for HGVC resales. In this article we’ll be answering just that! We thought we would try something different, and show you a question the owner and President of our company answered on the popular timeshare forum TUGBBS (Timeshare Users Group Bulletin Board System), then expand on the subject with a few addition insights. So, Let’s get started…
So, let’s expand on what Seth had written in his response, and give you a little more information on these fees.
When The Fees Are Due
For the estoppel fee, transfer fee, and all closing costs, these fees will need to be paid prior to, or on the day of, closing. Some brokers demand full payment at the beginning of the process, but we generally fund the seller’s escrow account a $1,000.00 deposit (for large purchases up to 15% of the sale price) on the day of signing the purchase agreement, with the remaining balance due at closing. This can vary from broker to broker. Private party sellers may ask to have the full purchase price deposited into escrow prior to starting the right of first refusal process.
For all situations, the activation fee will be paid after closing, directly to Hilton. This is a one-time fee, and will have to be paid prior to utilizing the ownership for booking.
Closing costs can vary from broker to broker, and even from deal to deal, but generally are under $600.00. Our company uses a licensed, bonded, and insured closing company to ensure to safety of our buyer’s deposits, as well as the accuracy of the title, before and after recording.
You can learn more about this subject by exploring the following articles:
After you’re done reading up on the subject, feel free to browse some of our listings below, or contact an agent for more assistance with any questions you may have left!
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