Selling DVC Points

[Handsomeprince]

Does anyone know the best way to go about selling my DVC membership? I have 250 SSR points and need to know the quickest and easiest way of doing this. I understand that they are worth around $100 per point at present.

Any comments would be welcome.

[Revtel]

I recently sold a small contract via the Timeshare Store.

From my experience, some points to note.

• Your points are not going to sell at $100 per point. Anyone buying at that price would buy from Disney. Check out the current asking prices on the Timeshare Store Site. $80 is more realistic.
  
• You will probably receive offers BELOW your asking price. Depends how desperate you are to sell.
  
• They will deduct 20% from the gross sale price, covering commission and tax.
  
• Whatever is left will come to you, and you will pay charges and commission on banking a US dollar cheque into your bank.

You can do the arithmetic yourself, but don't get too excited

On a brighter note, the Timeshare Store were very efficient!

All the best!

[Revtel]

Two further thoughts.

If you still owe any money to Disney from financing the points, this will be deducted automatically.

You will have to engage the services of a Notary Public in the UK to notarise the contracts. This can be expensive.

[Halo]

Just adding that an alternative to selling which might be attractive is to rent out our points. You could rent out the points for say $10 per point, which would cover the maintenance fee and give you a surplus. Depending on why you are considering selling this might give you another option until such time as you can either recoup your initial outlay or until you can enjoy the benefits of ownership.

[JimC]

Contact The Timeshare Store. They are first rate in service and expert in DVC. I have used them multiple times to buy and sell.

[Revtel]

Originally Posted by JimC

Contact The Timeshare Store. They are first rate in service and expert in DVC. I have used them multiple times to buy and sell.

Yup, that's who I used. Very efficient and the sale went through fairly quickly.

But the OP needs to understand that he will get nothing like the $100 per point that he mentions. He will do well to realise a net payment of $60 per point (most likely even less).

Selling points is an expensive business!

[Revtel]

Originally Posted by JimC

Contact The Timeshare Store. They are first rate in service and expert in DVC. I have used them multiple times to buy and sell.

I just noticed that you are an American moderator!

In which case, your personal sales would not have incurred the iniquitous and discriminatory FIRPTA which is levied on us Brits. Selling via the Timeshare Store for non-Americans is a very expensive business.

[mikki.young]

Originally Posted by Revtel

I just noticed that you are an American moderator!

In which case, your personal sales would not have incurred the iniquitous and discriminatory FIRPTA which is levied on us Brits. Selling via the Timeshare Store for non-Americans is a very expensive business.

But remember that is not the Timeshare store's fault There is also supposed to be some form that you can fill out to try and reclaim some/all of the tax if you can show you are up to date on the taxes. Not actually heard of anyone who has had any success with that!

[Revtel]

Originally Posted by mikki.young

But remember that is not the Timeshare store's fault There is also supposed to be some form that you can fill out to try and reclaim some/all of the tax if you can show you are up to date on the taxes. Not actually heard of anyone who has had any success with that!

I know. They are very efficient, and they don't make the rules (but they do set the commission rate!).

I have received the form to reclaim the FIRPTA, but it is so complicated, involving registering with the Federal Government for a tax number etc. and can only really be done successfully by engaging a US accountant to act on your behalf. The lady who handled the transfer told me that she didn't know any Brits who had successfully negotiated the rebate.

The bottom line is that we lose 20% of the price straight away with the tax and the commission. With the other costs involved, the net income will be around 60% of the original asking price. It has been said many times on here - DVC is NOT a good financial investment, especially for Brits, but it is a GREAT holiday deal!

Basically, it's not a good idea to sell DVC contracts at the moment unless you really need the money. I just wish there was a UK company who were competent with DVC resales. As it is, the Timeshare Store are just about the only option for us. Maybe there's a business opportunity here for someone...

[JimC]

Originally Posted by Revtel

I just noticed that you are an American moderator!

In which case, your personal sales would not have incurred the iniquitous and discriminatory FIRPTA which is levied on us Brits. Selling via the Timeshare Store for non-Americans is a very expensive business.

That probably holds regardless of who handles the sale, because you are selling a US asset. The OP wants a quick and easy way to do it and for that you use the best in the business to handle the sale. In my opinion that is The Timeshare Store. I did a fair amount of due diligence on them prior to the first use, including a public records search and a BBB search.

[Revtel]

Originally Posted by JimC

In my opinion that is The Timeshare Store.

I agree.They were very quick and efficient and I am not suggesting otherwise.

I was just pointing out that the situation works against non-US members because of this tax. It may be good business for an American to buy and sell "multiple times" as you have done, but with FIRPTA, commission charges and the exchange rate, it makes no sense for a Brit to go down the same path.

As I said, selling DVC is an expensive option, but if you have to, the Timeshare Store are the best solution. Having said that, I would still prefer to deal with a UK company.