Opinions on SSR resale price I offered

Discussion in 'Purchasing DVC' started by mickeyhereicome, Mar 6, 2013.

  1. mickeyhereicome

    mickeyhereicome Mouseketeer

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    We have been looking for a small contract (less then 75 points). We want SSR, AKL, or OKW (extended). I found a contract for 55 points at SSR with UY Dec. Dec '13 has 61 points and then 55 every year.

    The seller, I was told, still owes on the mortgage and is asking $95 pp. Way to high. I offered $63 pp, split closing costs, and we pay MF for 2013. What do you think about my offer?

    The agent said they most likely will reject the offer, because they would be eating a huge chunk. We are not willing to pay more because someone owes. We would rather sit and wait.
     
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  3. Missyrose

    Missyrose DIS Veteran

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    Know what you want to pay and be patient enough to find a seller willing to accept it. I've found that the minute I hear the seller has a loan to pay off, I immediately wash my hands of the contract because the sellers typically don't want to bring money to the table at closing. There are plenty of SSR contracts out there, you'll find what you want eventually.
     
  4. Illini Al

    Illini Al Mouseketeer

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    I have no problems with your offer, but if the seller is comfortable with that amount, they wouldn't have listed it that high. I'd be shocked if they accepted. Good luck!
     
  5. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    i'll be shocked if that seller doesn't wind up having to give back the contract to disney for free.

    all part of the magic of "buying direct."
     
  6. DannysMom

    DannysMom DIS Veteran

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    You made a perfectly reasonable & more than fair offer. If the seller is unwilling to accept it, I doubt they will find a buyer willing to pay their price. I agree with Charles, they will likely just default & give it back for free.

    Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
     
  7. mickeyhereicome

    mickeyhereicome Mouseketeer

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    So do you feel it is too high? Or an average price for a small contract? From what I am seeing small contracts tend to be higher pp, then higher contracts. I felt like if it was lower than they would reject it.
     
  8. ELMC

    ELMC DIS Veteran

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    It's a respectable offer given the details of the contract. But I'd bet anything that the seller either rejects your offer or counters at $90 per point. An asking price that is that much higher than market value is a huge red flag. Quite frankly, your mistake was not in the amount you offered but in the fact that you offered at all. There are plenty of contracts out there, take your time and get one that makes sense for you. Good luck. :)
     
  9. DannysMom

    DannysMom DIS Veteran

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    Not too high. But perhaps more than I would offer on a similar contract (being a bit of a bargain hunter.). But knowing that smaller, loaded contracts will bring a slightly higher price per point, if it otherwise met your criteria, size, UY, I think it is a decent offer that reasonable seller should take. That this seller thinks the buyer ought to cover his/her outstanding loan, is unreasonable IMO. A buyer will pay fair market price, your outstanding loan has no bearing on fair market price.

    Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
     
  10. DannysMom

    DannysMom DIS Veteran

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    I agree. Keep shopping. There are plenty of contracts out there, with more available all the time. Know what you are willing to pay for a contract that meets your criteria & never offer more than that.
     
  11. tb1972

    tb1972 DIS Veteran

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    I too saw that listing through Fidelity as I've been searching for DEC UY small contract. The $95 asking price raised a red flag with me - seems off even for a small contract. You'll find the right one with patience.
     
  12. Illini Al

    Illini Al Mouseketeer

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    If you think this one is bad, they have 3 other SSR listings for at least $100 pp, and one of them is $130! These sellers may NEED those prices, but with listings above and below theirs for half the price, who would bite on their listings?? In fact, you can buy SSR direct from DVD for less than a couple of their listings. :confused3
     
  13. ELMC

    ELMC DIS Veteran

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    I wonder if there isn't some other motivation behind those listings with super high prices beyond simply wanting to sell your contract. Fidelity, along with other brokers, provide guidance to prospective sellers as to what similar contracts are selling for. To completely ignore that advice suggest to me that there is something else at play.
     
  14. DannysMom

    DannysMom DIS Veteran

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    Maybe. Perhaps a court ordered sale, divorce, bankruptcy, a seller that does not really want to sell......

    Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
     

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