How long to find a resale?

Discussion in 'Purchasing DVC' started by ohionola, Jun 16, 2014.

  1. ohionola

    ohionola Mouseketeer

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    After months of debating, we decided to take the plunge on a dvc resale. I have put in 5 offers so far and every time I am told they are firm on the price and refuse to negotiate. I am looking to buy a 100 point contract and some offers have been as high as asking price with seller paying closing.

    So my Question is how many offers did you out in before getting someone to accept and do most people negotiate?
     
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  3. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    Depends on the seller, a 100 point contract is in greater demand than a 400 point contract so knowledgeable sellers want more money.

    :earsboy: Bill
     
  4. jodifla

    jodifla WDW lover since 1972

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    100 point contracts are in demand. Sellers won't need to negotiate.
     
  5. MinnieMouse100

    MinnieMouse100 Earning My Ears

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    We had 4 offers put in all lost to higher offers before we got an accepted offer on a 200 pt SSR contract.
     
  6. NoleFan

    NoleFan DIS Veteran

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    Small contract are high in demand as other's have said. If it is at a high demand resort and / or loaded, I would expect to pay asking & closing. Negotiating in a small contract is only nominal $$ difference to risk losing the contract.
     
  7. MJ6987

    MJ6987 DIS Veteran

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    So, how do you explain that the three BWV contracts that are currently on sale are listed for $91-93 yet the two similar contracts that have sold this year (on the ROFR thread) have sold for $83 and $85? Sounds like some price reduction going on.
     
  8. nalajms

    nalajms DIS Veteran

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    So you're offering asking price and pushing maybe $500 to the seller for closing cost? Seems like pennies to me. In 2012, I had over 20 offers rejected for my add-on. I was really going for the prices listed on the ROFR thread. Our 2014 add-on, I scanned listing everyday. I had a price range for loaded and stripped contracts based on current listings and the ROFR thread. As soon as something popped up in my price range, I offered. 2 offers. 1 got taken by Disney the other one I now own. If you want a "deal" you'll have to spend time.

    Some sellers will take a lower price, but if someone else offers higher you'll lose out. And remember the ROFR thread is a very small portion of the people buying. And Fidelity tends to have crazy prices high and low, as opposed to more uniformed listing prices on other resale sites.
     
  9. NoleFan

    NoleFan DIS Veteran

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    The rofr are prices at least 30 days ago. Prices can fluctuate & the prices of small contracts in general seem to be increasing. It comes down to what a buyer feels comfortable paying. I paid $65/pt for my 100 point stripped contract 1 year ago. It seem average to high at the time since it was stripped. However, compared to today's prices, it's a good deal !
     
  10. schrammalot

    schrammalot Mouseketeer

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    Don't forget that you have no idea what a seller's financial situation is. They may want the property gone ASAP and will take a lower amount (that won't be ROFRed) instead of that higher amount that it should sell at.
     
  11. KAT4DISNEY

    KAT4DISNEY Glad to be a test subject

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    It still just depends on each individual seller and what they are willing to accept.

    Also unknown is if that is comparing apples to apples with points available, closing costs and MF's although in the end - that doesn't matter if the seller wants to wait for a buyer that will pay them more.
     
  12. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    The info posted here on the DIS is such a small percentage of the real world it's a guide not fact. As posted the resale market changes constantly, a year ago resale pretty much dried up, A few years ago Disney seemed to buy back anything that they could get their hands on.

    There are insiders that have access to resale contracts and the best ones may never make it to the listings.

    The resort, size of contract and UY should be considered when guessing what a fair price might be, the contract that you are looking for may never come on the market again. Spending days, weeks, or months to save $500 may not be worth it, especially if the market swings and the prices increase.

    I tend to buy when the prices are high and sell when they are low so It's obvious that I can't time the market.

     
  13. robinb

    robinb DIS Veteran

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    This. I told The Timeshare Store what I was looking for and they brought a contract to my attention before it was even listed. I also sold a contract through them and it took only 2 days before I had an offer. That buyer also tried to negotiate with me and we stood firm and he bought it anyway. My contract was not listed until after I had an offer pending on it.

    So, if you need to contact the resellers and let them know what you are looking for. They will bring contracts to your attention. Only you can decide if saving a few hundred $$ is worth the hassle of counter-offering until you find someone who will negotiate.
     
  14. ohionola

    ohionola Mouseketeer

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    I finally found one today. I ended up having to pay full price, including closing. However, looking at what contracts sold for 1-2 years ago versus today, I am feeling really good about the price. As long as Disney keeps increasing the prices, the resale market should continue to increase. While I am in no ways buying this for an investment (because it is not), I do feel like a couple years from now I will feel like I got a bargain.
     
  15. ncurley

    ncurley Earning My Ears

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    Is there any place other than the ROFR thread to see recent sales? Can a broker provide that information (comps)?
     
  16. ohionola

    ohionola Mouseketeer

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    I was looking at contracts through a couple different websites and both places provided comps in the past few months. Now they didn't go into exact details but gave me a range of what the contracts have been selling for. They also told me that most contracts have been with the buyer paying closing costs.
     

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