PDA

View Full Version : Is it possible to sell just a portion of a contract ?


KNWVIKING
02-21-2003, 09:24 AM
After we did add-ons at VWL and BCV, we now find we have too many OKW points. I would like to purchase more pts at BCV & VWL but can't justify the expense while carrying too many OKW pts. Is it possible to break up a contract ?

spiceycat
02-21-2003, 09:34 AM
No - only Disney can break up the contracts - sorry.

Maistre Gracey
02-21-2003, 10:06 AM
I wondered this as well. One of my contracts is 450 pts, and I wanted DVD to split it into two smaller contracts (although I was not selling one of them). I would have likely had to pay for two closings on the separate contracts, but the idea was 86'd before we got that far.

Good luck and remember, there are worse problems than having too many points! :cool:

wdwstar
02-21-2003, 11:24 AM
you could always sell your okw pnts through a resale and buy a smaller amount of pnts through a resale(but you have to pay for closing cost during your purchase) or right through wdw dvc, they are selling beach club $84 pnt plus you get mb no closing cost.
good luck!:cool:

DebbieB
02-21-2003, 11:46 AM
I bought 250 points at BWV in 1999. Looking back, I wish I would have split it into 150 and 100 for that reason, I may want to sell some off in the future. There's always the option to rent some of your points.

Dean
02-21-2003, 09:25 PM
Originally posted by Maistre Gracey
I wondered this as well. One of my contracts is 450 pts, and I wanted DVD to split it into two smaller contracts (although I was not selling one of them). I would have likely had to pay for two closings on the separate contracts, but the idea was 86'd before we got that far.

Good luck and remember, there are worse problems than having too many points! :cool: DVC doesn't charge closing costs. While I could see them asking you to pay the extra on a split contract, I haven't heard of this. I personally recommend splitting larger contracts into small portions on the front end as long as none are less than 150 points. For 450 points, I'd recomment 3 separate contracts.

Maistre Gracey
02-22-2003, 01:06 AM
Originally posted by Dean
DVC doesn't charge closing costs. While I could see them asking you to pay the extra on a split contract, I haven't heard of this. I personally recommend splitting larger contracts into small portions on the front end as long as none are less than 150 points. For 450 points, I'd recomment 3 separate contracts.
Agreed. When I bought my first contract, I was not aware of the disadvantages of one larger contract vs. two or three smaller ones.
I thought that DVD might split my contract after purchase, but I figured this would require the split contracts to close individually. I believe DVD would have to buy back the 450 point contract before splitting it, then re-sell it to me in two different contracts. This would cost DVD two closings, which I would have paid. Anyway, mute point, as it did not/could not happen.... :cool:

Dean
02-22-2003, 07:51 AM
Originally posted by Maistre Gracey
Agreed. When I bought my first contract, I was not aware of the disadvantages of one larger contract vs. two or three smaller ones.
I thought that DVD might split my contract after purchase, but I figured this would require the split contracts to close individually. I believe DVD would have to buy back the 450 point contract before splitting it, then re-sell it to me in two different contracts. This would cost DVD two closings, which I would have paid. Anyway, mute point, as it did not/could not happen.... :cool: If you were talking about doing it at a time after you closed, that's different and I suspect not possible since DVC doesn't have anyway to buy them back directly. You'd have to basically sell it and buy new or multiple resale contracts, way too expensive for the stated purpose.

drusba
02-22-2003, 09:35 AM
As indicated above you cannot (ever) split a contract and sell the portions. If you have two separate contracts, original and add-on, you can sell either one of those because each is legally a separate real estate interest from the other. When you purchase under a contract, you are a sold a percentage interest in the real estate that cannot be divided. In other words, it would be like owning a condominium and trying to sell the bathroom. As a matter of real estate law, it cannot be done.