non-brokers resales listings?

[iluvthsgam]

Looking to buy resale, have looked at the big DVC brokers, but tried searching for and could not find out if there was a craigslist type listing website for DVC resales by owner type of deal.

Does such a thing exist?

 

[iluvthsgam]

and see example of something actually on craigslist:

http://orlando.craigslist.org/for/3763542587.html

 

[BestDadEver]

I am guessing it cause there are some complicated paperwork that needs to be handled . It would be hard for 2 parties to just make an exchange .

 

[iluvthsgam]

I am guessing it cause there are some complicated paperwork that needs to be handled . It would be hard for 2 parties to just make an exchange .

(emphasis above mine) I have not purchased resale before. Can anyone chime in? Is a lawyer used normally? Or is everything done between the broker and title company?

 

[dmunsil]

(emphasis above mine) I have not purchased resale before. Can anyone chime in? Is a lawyer used normally? Or is everything done between the broker and title company?

Everything is done by the broker and title company. If you were to make a private sale with no broker, I suspect you could just contact the title company directly and ask them to handle the transaction. They could tell you which parts of the transaction they don't handle. I get the impression that the broker handles getting signatures on the sales agreement and sending out for the ROFR waiver, and then the title company handles escrow, filing the deed and waiver, and notifying Disney of the transfer of ownership.

 

[iluvthsgam]

Everything is done by the broker and title company. If you were to make a private sale with no broker, I suspect you could just contact the title company directly and ask them to handle the transaction. They could tell you which parts of the transaction they don't handle. I get the impression that the broker handles getting signatures on the sales agreement and sending out for the ROFR waiver, and then the title company handles escrow, filing the deed and waiver, and notifying Disney of the transfer of ownership.

So, in other words, the "complicated paperwork" is handled by the title company and the broker is just a listing agent/middle man/passing paperwork back and forth. Which is fine, but that can easily be done by two private sellers.

Especially if there are no lawyers involved, it shouldn't be too hard for two private sellers to agree on a sale and contact the title company to complete the sale.

Is it common for resales to not have a lawyer review contract, closing docs, etc? And people just go with whatever paperwork the brokers provide?

 

[Missyrose]

Would Disney do estopples for regular people and not brokers?

 

[iluvthsgam]

Would Disney do estopples for regular people and not brokers?

I'm not sure what that is, are you talking about the ROFR waiver?

Edit: Nevermind, I get it. It is what is sent to the closing company after the ROFR, so if you are using a closing company, I don't see why Disney wouldn't, but I don't know, as I have not purchased resale.

 

[JimMIA]

I don't think the Craigslist ad is any different from a listing on a broker's website, and you definitely don't need a broker for a sale/purchase. The broker's job is to bring sellers and purchasers together.

If you are seriously interested in buying that particular contract, I'm sure DVC Member Administration could advise the owner/seller how to proceed.

If you used one of the title/closing companies used by the better major brokers, I'm sure they would be able to answer any questions and guide you through the process.

I would not waste their time if you are just curious, but if you are serious, a call to a closing company would probably yield better results than posting here on the DIS.

 

[iluvthsgam]

I don't think the Craigslist ad is any different from a listing on a broker's website, and you definitely don't need a broker for a sale/purchase. The broker's job is to bring sellers and purchasers together.

If you are seriously interested in buying that particular contract, I'm sure DVC Member Administration could advise the owner/seller how to proceed.

If you used one of the title/closing companies used by the better major brokers, I'm sure they would be able to answer any questions and guide you through the process.

I would not waste their time if you are just curious, but if you are serious, a call to a closing company would probably yield better results than posting here on the DIS.

Thanks Jim. I was not interested in that contract specifically. That is just one listing I found on Craigslist. I was more interested to see if there was some other place to go and look for listings by owner - without going through the brokers.

 

[JimMIA]

Thanks Jim. I was not interested in that contract specifically. That is just one listing I found on Craigslist. I was more interested to see if there was some other place to go and look for listings by owner - without going through the brokers.

Timeshare contracts are routinely sold through all sorts of non-broker channels. EBay listings are common, though not as common for DVC as for other timeshares. EBay is actually quite a good place to buy many timeshares. Other places are TUG, Redweek, and other timeshare-specific websites.

I would think Craigslist would be a longshot, just because of the way they localize ads -- but I've seen other timeshares offered there.

As a buyer, though, purchasing without a broker offers little to you. It may save the seller 10% commission, but you're still going to have to pay enough to clear ROFR, so there is really no benefit to you.

 

[iluvthsgam]

Timeshare contracts are routinely sold through all sorts of non-broker channels. EBay listings are common, though not as common for DVC as for other timeshares. EBay is actually quite a good place to buy many timeshares. Other places are TUG, Redweek, and other timeshare-specific websites.

I would think Craigslist would be a longshot, just because of the way they localize ads -- but I've seen other timeshares offered there.

As a buyer, though, purchasing without a broker offers little to you. It may save the seller 10% commission, but you're still going to have to pay enough to clear ROFR, so there is really no benefit to you.

That is a good point, it saves the seller money, not the buyer. But don't you think that more sellers would be incentivized to accept a lower price per point if they knew they didn't have to pay a 10% commission? Yes, you have to consider the ROFR aspects, but surely there could be a balance found where both buyers and sellers save money by not having to go through a broker, no?

 

[ELMC]

That is a good point, it saves the seller money, not the buyer. But don't you think that more sellers would be incentivized to accept a lower price per point if they knew they didn't have to pay a 10% commission? Yes, you have to consider the ROFR aspects, but surely there could be a balance found where both buyers and sellers save money by not having to go through a broker, no?

Yes, I do think a seller would take a bit less because they are saving the 10%. But that discount makes it more likely that your contract will not pass ROFR based on what we have seen recently.