How do you buy resale so low...please help!

[MIALIAS]

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]

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]

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.

Bill

 

[Missyrose]

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]

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]

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]

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]

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]

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]

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.

 

[amypetecar]

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]

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]

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]

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]

It's all about how quickly someone wants turn their timeshare into cash. We just closed this week! 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]

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 weren’t exactly rude about it but it sure didn’t feel friendly either. That one didn’t 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]

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]

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]

I can second this. I made an offer on AKV though TSS and was told outright my offer was unreasonable. They weren’t exactly rude about it but it sure didn’t feel friendly either. That one didn’t 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

It'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]

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!