If a resale is noted as "sale pending"...

[itutorfortravel]

Does that mean you can no longer bid on it? I wasn't sure what stage of the process that meant and if it even happens that multiple bids are sometimes submitted?

 

[Dean]

Does that mean you can no longer bid on it? I wasn't sure what stage of the process that meant and if it even happens that multiple bids are sometimes submitted?

It means they have an accepted offer and agreement. You could let them know you're interested if it falls through but that's about it logistically. I'd move on. The best approach is to decide what you want and the parameters then let one or more brokers know. Stalking the website is usually a poor approach unless you're looking at large or stripped contracts and following to see how long they've been listed to anticipate how likely they might be to take a lowball offer.

 

[Disneyepcot]

Does that mean you can no longer bid on it? I wasn't sure what stage of the process that meant and if it even happens that multiple bids are sometimes submitted?

You may ask to be on a standby list.

I have asked to be put on a standby list on several "sale pending" listings and got the call for a listing after the original contract had been submitted for ROFR and the buyer backed out. (I was first on the standby list) As a result, I believe, My submittal for ROFR on the contract only took 8 days to be waived.

I am not sure if another offer will be shown to the seller until the first offer has been considered.

 

[itutorfortravel]

If I contact a resale company to let them know what I am looking for, do I need to tell them my max price per point or can I leave that part open so I am not overlooked for a contract I might be interested in? Or is it better to state a slightly higher threshold in terms of pricing and then offer lower if I feel the need to when a contract comes along?

 

[lorie13]

Typically in real estate when you verbally ask to be a back up offer, no dollar amount is quoted. Not sure if that is the same in timeshare resale, you will need to ask the broker.

If I contact a resale company to let them know what I am looking for, do I need to tell them my max price per point or can I leave that part open so I am not overlooked for a contract I might be interested in? Or is it better to state a slightly higher threshold in terms of pricing and then offer lower if I feel the need to when a contract comes along?

 

[itutorfortravel]

Typically in real estate when you verbally ask to be a back up offer, no dollar amount is quoted. Not sure if that is the same in timeshare resale, you will need to ask the broker.

Thank you!

How about if I contact the broker to ask him or her about being contacted about new contracts that come in that might interest me? In other words, do I need to say something like "I am looking to buy a contract at so-and-so resort with approximately x number of points and with a maximum price per point of $x" ?
Or can I just tell them the resort and number of points but leave out the part about what I want to pay?

 

[JustTinking]

Personally I've never given the brokers a $ range. I will tell them the resort I'm looking to buy, the UY I want, and the nbr of points (can be a range) I want. That way anything that comes in that meets my criteria I will be contacted.

Price is negotiable so why limit yourself?

 

[Pirate Granny]

I also called on a contract (although it didn't state sale pending), and someone had already put an offer in and was accepted. I asked to be wait listed in case the buyer backed out. Two weeks later I got a call as the buyer couldn't get financing. I asked about a price lower than asking and the vendor stated that he had three other offers waiting behind me for the asking price. It was a BCV small contract so we just put the offer in at asking. It wasn't an outrageous price, so we were happy...and all went smoothly after that.