Discussion in 'Purchasing DVC' started by Whirlbex, Apr 23, 2013.
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Personally, we are closing on our first DVC resale purchase & have had a great experience with Shontell www.dvcbyresale.com.
When I first started looking for a resale contract in mid-March, I saw one on their website that was exactly what I was looking for. I sent an e-mail that I was interested in making an offer, four days later I received a reply telling me that the contract I was inquiring about was sold on February 15th. So I don't think their website is up to date.
I moved on to the four main DVC resellers after that.
I sent an email this morning and they called me by 1pm. The one I was looking at had a contract placed this morning, but he had one that just came in. 200pts, Mar UY (I think), SSR. We offered $60/pp and it was accepted already. Hopefully things will continue to move this quickly.
I had tried purchasing and the wanted 1000 in closing costs for SSR. Crazy
Somewhere I read about a buyer who went through this company and it took 4 months with many many issues. I thought that buyer posted on this forum but it may have been on another. I don't think this company is very well versed in selling DVC. Maybe do a search and see what you can find.
I am in the process of using a 3rd broker, Shontell www.DVCbyResale.com (for my 5th contract) and she's been great...all 3 I've used have been great...they work evenings/weekends and are very communicative/responsive and prompt. The Timeshare Store www.DVCstore.com was another one I've used.
I once tried to use another company, Fidelity www.fidelityresales.com/dvc.php, and the contract I was in ROFR on (with Fidelity) got cancelled by the seller (8 days into ROFR) and they weren't helpful in finding me another contract and they weren't very responsive or available (they don't work evenings or weekends). Plus they charge a $195 buyers fee that no other broker charges.
I made an inquiry about a contract with them on January 18th. I received an e-mail more than two months later, on March 26th, in response to that inquiry.
In the same amount of time that it took them to respond to my initial inquiry, I completed a sale on a similar contract with TSS. We closed on 3/25. I've been VERY pleased with their level of service and communication.
I think this may be the thread lovin'fl was referring to:
Whirlbex.... be careful. As someone pointed out.. they really aren't as knowledgable with DVC resales as a couple of the other agencies. I had some knowledge of DVC as my brother-in-law has been a DVC member since 1994. After saying with them at BLT in the first of January, I got the bug again and started searching for listings. We have our first grandchild who is 2 and another on the way. I found a OKW listing extended to 2057 for 310 points at $60. I e-mailed SellMyTimeShares.com and received a call the very next day. The realtor over the next few days.. said that he couldn't get ahold of the Seller.. and another property just came available that wasn't on their website. (Sound familiar) But, I could have it if I committed right away. The listing was OKW.till 2042.. for 400 points and at $50. I said I would take it. I was concerned about the price not making it through ROFR.. but the realtor seemed to have me convinced that it would be ok. Documents were faxed right away.. and then I had to place $8500 in escrow with CCrd at TimeShareBrokerServices (A place that had issues in another thread). Everything seemed to be going quickly. Then that is where everything stopped. I expected that I would know within about 30 days if it made it through ROFR. I contacted the Realtor and broker services to find out that it hadn't even been sent yet. No explanation. After 2 months and watching all the DVC resale activity, along with about 50 phone calls, texts and e-mails.. still nothing, but I did get an explanation from someone who seemed to have a little more knowledge on DVC resale. but there were several things that didn't make sense. 1) This was a March UY, but the seller had something booked in February (Doesn't matter, the documents can still be sent to Disney for ROFR, just that you can't close until after the sellers booking) 2) For 400 point, you would think that there would have been some amount of points banked or used? Using 400 points exactly is possible, but not probable). So, I decided to ask for my money back. After 3 months, a credit was in my CCrd account and a refund has been issued. I've been going nuts and the stress has been overwhelming at times. 3 weeks ago, I decided to place an offer on another listing at OKW. I contacted DVCResales and there were several offers and mine wasn't excepted. But, I did get an offer to go through at the timeshareStore where I am in my 3rd week of waiting on ROFR. Mind you, I did this hoping that I would get the $8500 back, which it looks like I am finally going to get. So, I leave you with these points that I noticed were very different about dealing with DVC-Resales and the TimeShareStore compared to SellMyTimeShares and TimeShareBrokerServices: 1) You only need 10% down at DVC-Resales and The TimeShareStore , compared to 1/3 down at SellMyTimeShares. 2) Documents for Disney's ROFR should be sent right away. As a matter of fact, I received notice that my recent offer was sent to Disney for ROFR before they even received or I sent the deposit check. 3) Beware of what seems like low prices... Someone mentioned in another thread that the realtor/broker service gets commission whether you buy or Disney buys. So, go with a realtor that has some knowledge of what is happening in the DVC resale market. 4) This might not be of any consequences, but I did see the names of the sellers on my recent purchase, where as the sellers names were blank with SellMyTimeShares? The blank seller, makes you think "Is there really a seller" I have to wonder if they were looking to find a buyer that fit what I had offered? I have to say, the people were extremely nice and a special thanks to Iris at the BrokerServices that finally helped me get my money back.. But, the waiting is a very stressful and I would go with who can better serve your needs. Wish me luck on my most recent offer. 21 days into ROFR!
Wow what an ordeal- Good Luck w/ ROFR on your new OKW offer-)
$8500 is a crazy amount to put as a deposit for a timeshare . I've only had to.put $500-1000 on non Disney timeshares and 10 percent for Dvc. You don't even have to put that much as a deposit into escrow when buying a house. They sound fishy.
I am considering a contract with Sell My Timeshare Now right now, and they quoted me over $1000 in closing costs. I have the exact same contract going through Fidelity right now and the closing costs are just over $700. They both include the $195 fee. I tried calling the title company for SMTN, and I couldn't get any kind of reasonable answer about why the title company costs were so high.
Has anyone gotten through a deal with them?
We started with DVC search found sellmytimesharenow and ended up with Timeshare Broker Services. No response ever from them even with the complaint I filed with BBB and Angies List.
Well finally wrapped up our TBS ordeal. I wanted to warn anyone considering using TBS to be ready for a GONG show. Slow painful agonizing ordeal. Excuses galore and a lack of communication are the norm. I waited until we were done to complain to BBB, on DIS boards and Angie's List. Wish I had checked here first. We received our member number letter on Friday and were able to book on Saturday.
Hope you did not use Timeshare Broker Services we did and here is our timeline
12/28 submitted offer.
12/31 offer accepted wait for contract to be processed
1/9 contract arrives day before only a week lost, it is signed and escrow sent via CC
1/25 after many calls and emails find that contract had been submitted for ROFR that day not 15 days earlier. No explanation from TBS
2/25 passed ROFR 30 days No one calls. We find out when closing Doc's are emailed from Timeshare Closing Services our agent there is battling flu.
She tells me my TBS agent is no longer working there. Was she fired? Quit?
2/26 Closing documents reviewed $$$ mistake $$$ discovered
3/4 Corrected statement signed and wired balance of contract it took a week to move charge from buyer to seller column???? Agent was sick so ok
4/3 Owners finally send back signed corrected contract TBS would not contact owners. Would not return my calls. Closing agent said to be patient after 3 weeks had passed. Normal to take 3 month plus to close???? I think they had snail mailed them from a couple of comments closing agent made.
4/4 Opps they forgot to send back a signed DEED
4/8 Deed sent back FedEx after I say I will pay for it. Arrives next day, who uses snail mail anymore for property transactions
4/9 Electronically submitted to County
4/10 Sent to Disney expected wait 2 weeks
4/12 Try to rent points on board. DIS member mentions 30% off discount on rooms. Thanks to those folks!! Exhausted I book trip in June to WDW thru Disney pay $$$ No longer stressed we will make it to Disney in June one way or another. Just more $$$
4/14 Waiting still Waiting
4/19 Receive membership number in mail oh happy day
4/20 Call Member Services they book reservation and activate my online account. Cancel rooms with Disney
4/21 Warn others on forum, BBB and Angie's List.
Hope you have better luck than we did. We are thinking of adding another at HH thru a different broker though.
From my post above you can see we finally made it through. They kept on messing with my closing cost total. Quoted $450 came back with closing docs at over $1000.00 they have a $195 additional fee for themselves that you pay like Fidelity, No service though. Ended up paying more than the $450 but less than 1000.00
I was just browsing the listings on sellmytimesharenow.com for BCV and BWV and saw listings at BCV at $100 pp and BWV for $105-$114 pp. Crazy.
You get to pay more and get more hassle!
RUN and DON'T WALK...use one of the big four brokers...I have three contracts from Timeshare Store and the last one with DVCbyResale...both very efficient...we tried sellmytimeshare...what a nightmare, no response for over a week, said they would get back to us with other options...yep, they did...two months later.
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