Sell DVC

[LimoFam5]

My family and I went a lil DVC crazy and have found that we have a few to many DVC points....we never use all of them and we can only bank so much....in and effort to avoid losing any more money on these un touched points I am looking to sell them......NOT RENT.

Has anyone sold DVC points before? If so...

Who purchased your points?
Did they pay off what you owed?
Was the process easy?

 

[erionm]

Keep in mind that when you sell, you can't split up contracts. If you have 200 points as one contact, you would have to sell all 200 points at once. If you have 200 points as two contracts, you could sell one of the 100 contracts and keep the other.

 

[LimoFam5]

I am wanting to sell my WHOLE contract.
I have way to many points and every year I am left with at least 160 points so I figure if I sell my contract I wont be left over with so many at the end of each year....it will be alot easier to rent the remaining out if it comes to that.

 

[dizfan]

At the top of the forum is a sponsor "The TIMESHARE Store". I suggest calling them and discussing your situation.

 

[Missyrose]

My family and I went a lil DVC crazy and have found that we have a few to many DVC points....we never use all of them and we can only bank so much....in and effort to avoid losing any more money on these un touched points I am looking to sell them......NOT RENT.

Has anyone sold DVC points before? If so...

Who purchased your points?
Did they pay off what you owed?
Was the process easy?

To get an idea of what the different resorts are selling for, you should check out the listings on the four major resale brokers' Web sites (you can start with the Timeshare Store, they sponsor this board and you can find there banner on top of the page). You didn't mention which resort you were looking to sell. But for the most part, resale prices will be fairly far below the direct prices you paid for your contracts. Having a loan to payoff could also prove complicated if you have to take a loss on the price per point -- and don't forget that as the seller you will have to pay the brokers' commission.

 

[chalee94]

Did they pay off what you owed?

this is a tough one. buying timeshares is easy. selling timeshares can be a little tougher.

the price you might get at resale will likely be considerably less than you paid directly. you can check the timeshare store link above for contracts for sale to get an idea of potential listing prices (selling prices are sometimes less.)

and remember that you will pay a broker a commission of 10-12% of the selling price.

so if you still owe money on a contract, that may be a sticking point...

 

[bdoleary]

...we never use all of them and we can only bank so much....in and effort to avoid losing any more money on these un touched points I am looking to sell them......NOT RENT.

?

You may want to check out the recent sales prices on the ROFR thread - it will give you a better idea what contracts/points at your resort are selling for - if you purchased the points fairly recently and financed a major portion of the amount - you may be upside down and owe more than they are worth. If that's the case I would reconsider your decision not to rent - it may be a way to help with the MF's and carrying costs and give you a chance to build some more equity. Good Luck.

 

[Dean]

My family and I went a lil DVC crazy and have found that we have a few to many DVC points....we never use all of them and we can only bank so much....in and effort to avoid losing any more money on these un touched points I am looking to sell them......NOT RENT.

Has anyone sold DVC points before? If so...

Who purchased your points?
Did they pay off what you owed?
Was the process easy?

It looks like you've only owned 2-3 years, if so you'll likely owe more than you can sell for. If you've been using those points for those cruises, you'll definitely come out ahead to sell and use cash, even if you have to ante up at the time of the sale because you're upside down.

 

[OrangeCountyCommuter]

I have sold three contracts.

One did have a loan on it and the sale paid that off without any problem (but it was a small loan and I knew that was doable. I was not in any danger of being 'upside down' It was the only "loan" contract which is why it went )

I watched the sale threads on several places and knew what I could expect and got it every time.

That said my contracts were all small and I think they tend to sell faster (My first sale was a 50 point HH and it sold in 24 hours for asking but that was a while ago!) I listed one with The Timeshare Store and the other two with a differnet broker (I was not overly impressed with the communications from TSS but others seem to have had a better expereince)

 

[arthur06]

I am wanting to sell my WHOLE contract.
I have way to many points and every year I am left with at least 160 points so I figure if I sell my contract I wont be left over with so many at the end of each year....it will be alot easier to rent the remaining out if it comes to that.

I guess I am still confused?

Do you own multiple contracts?

 

[JimMIA]

Has anyone sold DVC points before?

Sure, lots of folks have.

If so...

Who purchased your points?

There is a big resale market, with hundreds of buyers and sellers.

Did they pay off what you owed?

When you sell, a selling price is agreed to. From that price, a sales commission of 10-12% is subtracted. There are also a few other (very minor) selling costs which come out of the proceeds.

And -- if the contract is financed -- obviously the mortgage has to be paid off, just like it would be on the sale of a financed home.

If the selling price, less the above costs and loan payoff, is more than you owe, you receive a check for the difference.

If you OWE more than the net selling price, you will have to PAY IN at closing.

As Dean said above, if you've only owned for a couple of years and bought direct from DVD, you probably paid a high price and likely owe more than you can sell for. In that case, you would have to PAY IN.

Was the process easy?

Yes. We've bought and sold throgh the Timeshare Store several times and they guide you every step of the way.

 

[LimoFam5]

It looks like you've only owned 2-3 years, if so you'll likely owe more than you can sell for. If you've been using those points for those cruises, you'll definitely come out ahead to sell and use cash, even if you have to ante up at the time of the sale because you're upside down.

No actually have owned for over about 8 years now........
Thanks for the advise.

 

[LimoFam5]

I guess I am still confused?

Do you own multiple contracts?

Yes I have five contracts total.

 

[LimoFam5]

Sure, lots of folks have.There is a big resale market, with hundreds of buyers and sellers.When you sell, a selling price is agreed to. From that price, a sales commission of 10-12% is subtracted. There are also a few other (very minor) selling costs which come out of the proceeds.

And -- if the contract is financed -- obviously the mortgage has to be paid off, just like it would be on the sale of a financed home.

If the selling price, less the above costs and loan payoff, is more than you owe, you receive a check for the difference.

If you OWE more than the net selling price, you will have to PAY IN at closing.

As Dean said above, if you've only owned for a couple of years and bought direct from DVD, you probably paid a high price and likely owe more than you can sell for. In that case, you would have to PAY IN.Yes. We've bought and sold throgh the Timeshare Store several times and they guide you every step of the way.

Thanks I will try the timeshare store.

 

[JimMIA]

Thanks I will try the timeshare store.

They're great to work with. Good luck!

 

[dclfun]

I recently sold two of my three contracts via the Timeshare Store and have been very pleased with the transactions. Their communication has been excellent and the sales proceeded smoothly. I'm glad you chose them to check out and hope you get what you want for your contracts. I did.

 

[Dean]

No actually have owned for over about 8 years now........
Thanks for the advise.

Good luck with your transition.