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View Full Version : How do you buy resale so low...please help!


MIALIAS
03-15-2012, 06:14 PM
Okay so I'm looking at the sold list posted on this site...

dismagiclover------- 150 BWV (Jun) $48, 50 banked '10 pts, all '11 & '12 points, buyer pays closing, seller pays mf (sub 4/8, passed 4/25)
krisnchris-------- 150 BWV (Mar) $46, 31 '11 pts, all '12 pts, buyer pays closing, seller pays mf (sub 4/5, passed 5/3)


Boardwalk sold for $46 and $48

Then I look at the timeshare resale site...


BW250-09-0217 Boardwalk Villas-$65/pt. 250 September $525.00 1405 $16,250.00
250 points coming on 9/1/12 and 250 points coming on 9/1/13. Priced at $65 per point.
--------------------------------------------------------------------------------

BW100-02-0312-1 Boardwalk Villas-$72/pt. 100 February $397.00 562 $7,200.00
100 points currently available and 100 points coming on 2/1/13. Priced at $72 per point.



Nothing close to the 46 or 48 price. Is it the obvious answer that people are offering $15 points less than the offering price and the seller is accepting that? Whe I called the resale outfir they said there is small negotiation room - but thats 25% off the asking. The resale store said they dont sell that cheap (46-48) but here it is???

So what do you think? Do you offer that much less than the asking? Is there another way to do it? Do you really get deals like 46?

Thanks!

vicki_c
03-15-2012, 06:32 PM
Those examples you posted are too high. Those sellers will most likely have to come down on their asking price to sell, or it will take a long time, or else someone will offer them substantially less and they will take it or not.

Just keep watching the resale sites. And call them and tell them what you're interested in, and what price range you would like to pay.

I never look at the ROFR thread - so I would also ask, are those 2 examples you posted from there anomalies? Or are there lots more? (I still think the resale listings are too high though.) Because there can always be some people getting a super deal, just by luck, timing, etc. - a seller who just has to dump their points quickly.

disneynutz
03-15-2012, 06:44 PM
Okay so I'm looking at the sold list posted on this site...

dismagiclover------- 150 BWV (Jun) $48, 50 banked '10 pts, all '11 & '12 points, buyer pays closing, seller pays mf (sub 4/8, passed 4/25)
krisnchris-------- 150 BWV (Mar) $46, 31 '11 pts, all '12 pts, buyer pays closing, seller pays mf (sub 4/5, passed 5/3)


Boardwalk sold for $46 and $48

Then I look at the timeshare resale site...


BW250-09-0217 Boardwalk Villas-$65/pt. 250 September $525.00 1405 $16,250.00
250 points coming on 9/1/12 and 250 points coming on 9/1/13. Priced at $65 per point.
--------------------------------------------------------------------------------

BW100-02-0312-1 Boardwalk Villas-$72/pt. 100 February $397.00 562 $7,200.00
100 points currently available and 100 points coming on 2/1/13. Priced at $72 per point.



Nothing close to the 46 or 48 price. Is it the obvious answer that people are offering $15 points less than the offering price and the seller is accepting that? Whe I called the resale outfir they said there is small negotiation room - but thats 25% off the asking. The resale store said they dont sell that cheap (46-48) but here it is???

So what do you think? Do you offer that much less than the asking? Is there another way to do it? Do you really get deals like 46?

Thanks!

I wouldn't know, when we added on some BWV points 2 years ago we paid $84 per point. :scared1:

:earsboy: Bill

Missyrose
03-15-2012, 06:48 PM
The advice I got from another DVC owner (not on the Dis) was to offer $20-$25 below asking for the BWV contracts I was looking at. Also, TSS can be a little snooty about low offers, the other three brokers tend to me a little more receptive (though I learned TSS has to, by law, present every offer you make on a listing of theirs).

Just to give you a frame of reference. I found a 150 point BWV contract. It had 144 '11 points, all points for '12 and '13. It was listed for $65, I offered $45, we negotiated to $50 per point with me paying the MF and buyer/seller splitting closing costs.

The main thing to remember if you're looking for a deal, BE PATIENT. If an owner isn't willing to play ball, wait for one who is. Know what you want to pay and don't let the excitement of bidding move you from it.

Happy hunting!

DisDad07
03-15-2012, 06:51 PM
There is an asking price and then there is a selling price. Each seller will ask what they want, need, or the broker says to ask for. You can offer what you want to, and the broker has to take the offer to the seller. The seller doesn't have to sell for less, but if they want to get it sold, sometimes they will. Some sellers owe to much money on the time share and can't sell it cheap, so they ask more for it to cover the cost of selling and try to get at least what they owe. All things are negotiable. Then you can worry about ROFR.

Tamar
03-15-2012, 07:05 PM
It used to be that the asking price was just above the price that would get ROFR'd. Lately, it seems all bets are off on ROFRing and prices will vary a lot more.

DVCconvert
03-15-2012, 07:15 PM
the prices you're seeing on the TTS site are the "asking price"...not the price that contracts have been agreed to be sold at.

ffindis
03-15-2012, 07:20 PM
Who do you think are the most motivated sellers? People with stripped contracts, who obviously used and borrowed or loaded contracts , which the owners clearly haven't gone in a while?
Thanks

saintstickets
03-15-2012, 08:05 PM
DW and I have purchased 5 small contracts and have paid the original list price only one time without negotiating the closing costs. It was our 2nd purchase and we really wanted that contract size with that UY. In 3 of the contracts we offered a lower price and it was either accepted or we negotiated somewhere in the middle. On the 5th contract, the seller would not budge on the price per point but they did agree to pay the closing costs and the current year annual MF's. Those costs equated to $13/pt so we were pleased even by paying the list price. We've paid all the closing costs and paid a lower price per point. We've split the closing costs and paid a slightly lower price per point. We've paid the list price but paid no closing costs. It's like buying a car....everything is negotiable! Look at it like asking someone out for a date. You might not get the answer you want but all they can say is yes or no! ;)

arthur06
03-15-2012, 08:34 PM
Who do you think are the most motivated sellers? People with stripped contracts, who obviously used and borrowed or loaded contracts , which the owners clearly haven't gone in a while?
Thanks

I don't know if you could tell by that fact.

I see on the Fidelity site that there are some BLT listings that the owner(s) are asking $120pp. I would guess that they financed the purchase and need the higher sale price to cover what they still owe (but that is still a guess on my part).

Like others have said, be patient, you will find what you want and at the price you want it. :thumbsup2

amypetecar
03-15-2012, 09:30 PM
Look at it like asking someone out for a date. You might not get the answer you want but all they can say is yes or no! ;)

Great..... if it's like dating then I have ZERO chance of someone saying yes....

I look forward to the dvc owner responding to my offer with, "It's not you, it's me....."

cc_nike
03-15-2012, 09:54 PM
I have bought VWL for $46 a point and OKW for $38 a point. I got told Im crazy and no way about a thousands times. Keep making offers. One will stick. Who cares if they say no?

Caren90
03-15-2012, 10:16 PM
Think of it this way. When someone says "no", it isn't a rejection, it's the chance for an opportunity somewhere else.

Good luck with your low offers.

Stephen

dcfromva
03-16-2012, 07:36 AM
Another factor is the ROFR examples you are citing are almost a year old. There was a lot more BWV resale inventory at that time. It is supply and demand. I believe the BWV prices have gone up in the past year as the BWV resale inventory has come down.

Quilter007
03-16-2012, 09:56 AM
It's all about how quickly someone wants turn their timeshare into cash. We just closed this week! :goodvibes Now, for us we wanted a specific price and we were willing to wait for that price. So, we listed at a price $3 a pt higher than any other listing for VGC against the advice of the Timeshare Store. But, I'm a real estate analyst, and I had nothing to lose. Guess what? -- in 30 days and 3 offers later, a buyer showed up at our price. DH was dying, but I do this for a living (not with timeshares) -- it does take nerves of steel. Since then list prices for VGC have gone up $1 - $2 a pt!

If you really want to buy at prices significantly under list prices, you are going to have to be prepared to do a LOT of legwork. You need to chase every stripped contract, be the first to make an offer and offer on every single one contract that fits your parameters and make sure that you are on every broker's list. You need to find that distressed seller, not sellers like me who refuse to negotiate on price. And other posters are right, you may have missed the market for the large numbers of distressed sellers. However, there will always be those sellers who inherited a timeshare and don't want it need it or are selling because of divorce, other unfortunate family/job situations etc...they are more likely to just want to take some money and move on.

Chase'n'Ciera
03-16-2012, 11:02 AM
Also, TSS can be a little snooty about low offers, the other three brokers tend to me a little more receptive


I can second this. I made an offer on AKV though TSS and was told outright my offer was unreasonable. They werenít exactly rude about it but it sure didnít feel friendly either. That one didnít go anywhere. I then made an offer though Fidelity for an almost identical contract and it was accepted outright. I did raise the price per point a couple of dollars but offered to split closing costs, the total dollar amount worked out to be almost the same.

Now from a sellers POV TSS does what I would hope for and try and get the most for my contract. But that also might just delay a sale. I imagine most buyers may not be familiar with things like the ROFR thread and just take what TSS says and offer higher.

YMMV,
Jim

mrsmarilyn
03-18-2012, 02:35 AM
The advice I got from another DVC owner (not on the Dis) was to offer $20-$25 below asking for the BWV contracts I was looking at. Also, TSS can be a little snooty about low offers, the other three brokers tend to me a little more receptive

Happy hunting!

Who are the other three brokers?

fmer55
03-18-2012, 07:41 AM
Okay so I'm looking at the sold list posted on this site...

dismagiclover------- 150 BWV (Jun) $48, 50 banked '10 pts, all '11 & '12 points, buyer pays closing, seller pays mf (sub 4/8, passed 4/25)
krisnchris-------- 150 BWV (Mar) $46, 31 '11 pts, all '12 pts, buyer pays closing, seller pays mf (sub 4/5, passed 5/3)


Boardwalk sold for $46 and $48

Then I look at the timeshare resale site...


BW250-09-0217 Boardwalk Villas-$65/pt. 250 September $525.00 1405 $16,250.00
250 points coming on 9/1/12 and 250 points coming on 9/1/13. Priced at $65 per point.
--------------------------------------------------------------------------------

BW100-02-0312-1 Boardwalk Villas-$72/pt. 100 February $397.00 562 $7,200.00
100 points currently available and 100 points coming on 2/1/13. Priced at $72 per point.



Nothing close to the 46 or 48 price. Is it the obvious answer that people are offering $15 points less than the offering price and the seller is accepting that? Whe I called the resale outfir they said there is small negotiation room - but thats 25% off the asking. The resale store said they dont sell that cheap (46-48) but here it is???

So what do you think? Do you offer that much less than the asking? Is there another way to do it? Do you really get deals like 46?

Thanks!

I am currently in rofr for 200 bwv, feb uy all 2012, all 2013, buyers pays closing, split mf

seller asking 60 pp

offered 50, accepted and in contract on 3/13

as far as hunting and praying it also takes some luck, i was on the phone with broker about another contract that was gone, this one had not been listed yet, offered and accepted all within a half hour.

Was my first time ever offering, so luck is big!!!! also if serious look on the big four every day for new listings

Dean
03-18-2012, 08:12 AM
I can second this. I made an offer on AKV though TSS and was told outright my offer was unreasonable. They werenít exactly rude about it but it sure didnít feel friendly either. That one didnít go anywhere. I then made an offer though Fidelity for an almost identical contract and it was accepted outright. I did raise the price per point a couple of dollars but offered to split closing costs, the total dollar amount worked out to be almost the same.

Now from a sellers POV TSS does what I would hope for and try and get the most for my contract. But that also might just delay a sale. I imagine most buyers may not be familiar with things like the ROFR thread and just take what TSS says and offer higher.

YMMV,
JimIt's in their best interest to get the higher price possible because it means a higher commission. Legally they're required to present all offers. It is my opinion that timeshare resale companies have done more to fix resale prices than ROFR ever did.

Sandisw
03-18-2012, 08:47 AM
It took us 4 offers to get a seller who would accept $55/pt but covering all 2011 MF"s even though we were getting all the points for that UY and were buying in June (1/2 way through the year).

We put those offers in through both the TSS and other brokers and just figured we would continue until we got a seller who was on the same page as us.

So, if you want a specific contract, my feeling is offer what you want to pay. You just never know where a seller is at. If it's a no, you move on and try again.

Good luck!

disneyofcourse
03-18-2012, 08:52 AM
[QUOTE=Missyrose;44335011]The advice I got from another DVC owner (not on the Dis) was to offer $20-$25 below asking for the BWV contracts I was looking at. Also, TSS can be a little snooty about low offers, the other three brokers tend to me a little more receptive (though I learned TSS has to, by law, present every offer you make on a listing of theirs).

I felt the same way. I had made an offer and they basically became rude about things. Didn't hear back until I contacted them 3 days later. They said your offer wasn't accepted and I asked when they put it in. I got "your offer wasn't accepted" I offered more than what they were passing for on here. They also said that it probably wouldn't pass rofr unless it was at that price. I mentioned this site and they said something along the lines of anyone can put that information in. Anyways went with another company and offered even less and got it. Think I saved an extra 1k.

dr&momto2boys
03-18-2012, 08:54 AM
I ran into the same frustration with the brokers. They "advised" that we were offering too low and acted as though we were wasting their time. (They weren't that blatent...that's just how I felt.) BUT, we kept looking at listings on several sites and offering what we wanted. We weren't in a hurry...just waiting for the right contract with motivated sellers. We ended up with an accepted offer and are now waiting to pass ROFR.
Seller asked around $69 for AKV, no previous year points advertised, all of this year points. We offered $55. They countered with $63. We countered with $56 which they accepted. Later we found out that they also had 94 points banked that weren't advertised--bonus! Also that they pay MF monthly and we would only have to pay the remaining of this year's fees-great! It just kept getting better! Honestly, I think those of us poking around on this board are more educated about resales than the brokers. :rolleyes: Just decide what deal is desirable to you and seek it out. Be patient or more willing to negotiate higher if you're not patient.

FYI...my target for BWV was $45, SSR was $50, and AKV was $55. A big reason we are adding on more points at this time is because such great deals can be had. Don't let the brokers bully you.

goldenears
03-18-2012, 11:12 AM
I ran into the same frustration with the brokers. They "advised" that we were offering too low and acted as though we were wasting their time. (They weren't that blatent...that's just how I felt.) BUT, we kept looking at listings on several sites and offering what we wanted. We weren't in a hurry...just waiting for the right contract with motivated sellers. We ended up with an accepted offer and are now waiting to pass ROFR.
Seller asked around $69 for AKV, no previous year points advertised, all of this year points. We offered $55. They countered with $63. We countered with $56 which they accepted. Later we found out that they also had 94 points banked that weren't advertised--bonus! Also that they pay MF monthly and we would only have to pay the remaining of this year's fees-great! It just kept getting better! Honestly, I think those of us poking around on this board are more educated about resales than the brokers. :rolleyes: Just decide what deal is desirable to you and seek it out. Be patient or more willing to negotiate higher if you're not patient.

FYI...my target for BWV was $45, SSR was $50, and AKV was $55. A big reason we are adding on more points at this time is because such great deals can be had. Don't let the brokers bully you.

Thanks so much to those of you who have bought resale and posted your experiences. We are trying to add on right now and it can be a little frustrating. I know the right contract and seller will come along at some point, so I am definitely not losing hope!

sparkhill
03-18-2012, 10:00 PM
...So, we listed at a price $3 a pt higher than any other listing for VGC against the advice of the Timeshare Store. But, I'm a real estate analyst, and I had nothing to lose. Guess what? -- in 30 days and 3 offers later, a buyer showed up at our price. DH was dying, but I do this for a living (not with timeshares) -- it does take nerves of steel. Since then list prices for VGC have gone up $1 - $2 a pt!

If you really want to buy at prices significantly under list prices, you are going to have to be prepared to do a LOT of legwork. You need to chase every stripped contract, be the first to make an offer and offer on every single one contract that fits your parameters and make sure that you are on every broker's list.

So as a real estate analyst and a recent VGC seller, at what point do you think the resale vs. direct pendulum swings toward direct? Right now, a direct purchase costs $130/pt, with maintenance fees prorated (about $1/pt), no closing costs and the ability to put it on your reward credit card (about $1/pt) for a net cost of $131/pt. Direct includes all 2011 and, if we assume $10/pt, it brings the net cost down to $121.

The resales currently listed are around $97/pt, but buyer pays maintenance fees (about $4), no 2011 points, closing costs ($5/pt) for net cost of $106/pt.

So on a 100 point contract, you are talking about $1,500. I guess it all comes down to the value of the direct benefits and the hassle factor of resale. I just can't imagine the resales climbing much higher as I think the convenience of direct will always command the current 10% premium over resale.

Of course, this only applies to VGC.

Missyrose
03-18-2012, 10:17 PM
Who are the other three brokers?

It looks like your question got lost in the shuffle. One broker's name gets filtered out here on the Dis, but you can easily find him on Google.

The other two are Shontell at DVC by Resale: http://dvcbyresale.com/

And Fidelity (Rachel and Sharon are the two brokers there): http://www.fidelityresales.com/dvc-resales.php

mrsmarilyn
03-18-2012, 10:44 PM
It looks like your question got lost in the shuffle. One broker's name gets filtered out here on the Dis, but you can easily find him on Google.

The other two are Shontell at DVC by Resale: http://dvcbyresale.com/

And Fidelity (Rachel and Sharon are the two brokers there): http://www.fidelityresales.com/dvc-resales.php

Thank you. Im a little concerned about googling the wrong people, perhaps you could pm me? Appreciate the help!