Well shoot dang - one day too late for resale

Discussion in 'Purchasing DVC' started by wrighter, Aug 20, 2013.

  1. wrighter

    wrighter DIS Veteran

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    Boooooo. I'd wanted to put in an offer on a resale contract yesterday, but had to wait until close of business to confirm the specifics with DH - he was in meetings all day. Called first thing this am and someone else swooped in and got it. Big fat bummer.

    Live and learn. And now we wait to find another one - while hoping the prices stabilize!
     
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  3. twinsouvenirs

    twinsouvenirs Mother of Dragons :)

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    They are FLYING off the shelf. Half the time when I call to ask they say "oh, that one just sold"
     
  4. crisi

    crisi DIS Veteran

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    I'd get confirmation on specifics from your husband now. "I'll pull the trigger if I see this resort, or this resort, for this range of points, for this much money or less, OK?"

    Good contracts don't wait for husbands to get out of meetings.
     
  5. wrighter

    wrighter DIS Veteran

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    No they certainly don't! Lol!

    This was our first attempt at resale, and I'd done lots of homework. But experience is the best teacher, right? I'm going to look at the bright side: Now that DH knows we must be quick, perhaps it will mean a contract with more points! :-)

    Onward!! Come on, contracts! Where are you?
     
  6. Belle & Ariel

    Belle & Ariel DIS Veteran

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    Which contract was it?
     
  7. timandjanl

    timandjanl Mouseketeer

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    Dang! Sorry to hear that. We saw a SSR contract on Saturday night and submitted the online form to get more info. TSS responded the next morning (Sunday). The contract had been up less than a day. We went ahead and made an offer and it was accepted within 1 hour. PP is right - they are flying off the shelf. Good luck the next time around.
     
  8. wrighter

    wrighter DIS Veteran

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    Fidelity, AKV, 160 points, $75 pp, Dec UY

    Just out of curiosity - are you the contract thief? :-)
     
  9. crisi

    crisi DIS Veteran

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    I would recommend ranges - if you want VAKL, that's good. But from there say 150-175 points. Use year in the Spring (or whatever). And anything under $XX a point - assuming the contract has not been stripped. If its been stripped, have a value for lost points.

    Then, once you do pull the trigger, do the impossible - stop looking. Because I guarantee you the day after your offer is accepted, you'll find something with loaded points for $3 a point cheaper than you just paid.
     
  10. Belle & Ariel

    Belle & Ariel DIS Veteran

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    No but I thought we were. We had thought we bought the Fidelity 100 pt AKV for $70 a point. Offer was accepted yesterday then today we find it was sold to someone else.
    Good luck to you (and us:)).
     
  11. wrighter

    wrighter DIS Veteran

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    What the heck?! How does that happen - where you're told your offer was accepted - only to learn it was not? Who dropped the ball there? Talk about a let down. Which broker were you using? I'm so sorry - that really stinks.

    I was sort of hoping it was you who got "our" contract. In some weird way, it would have stung less if I'd known it was a fellow DISer who got it. At least then I'd know it was by someone with a true appreciation for it! Lol.

    Best of luck to us both. Praying to the resale angels!!! :angel:
     
  12. Kidanifan08

    Kidanifan08 DIS Veteran

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    Stalk, stalk, stalk. AKV contracts still come up fairly frequently. But, don't hesitate . . . when you see what you want, you need to be ready to jump on it. Fortunately, you are looking at contracts larger than 100 pts, which tend to sit available a little longer than the 50-100 pt contracts. The good news for you is that they have sold the largest number of points for the Dec UY, so they come up fairly frequently. We have a Dec UY at AKV, too, and have done four small add-ons over the past 2 years.

    Excellent advice. Have a max price and max number of points and then be ready to bid. And I would advise calling and talking to a human. Don't count on an e-mail bid holding any water against someone who was willing to call and be on hold.

    Strange things happen at Fidelity. 'Nuff said.:rolleyes1
     
  13. DisneyDenis

    DisneyDenis Mouseketeer

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    That's just not fair !!! Once a buyer and seller agree, Fidelity should not present any other offers to the seller. Just my 2 cents.
     
  14. wrighter

    wrighter DIS Veteran

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    It's interesting, because when I wanted to make an offer on a contract with Fidelity, the women I spoke with said that an offer had already been made, that the sellers had not responded to it yet, but that they would not present multiple offers to the sellers.

    A rogue employee? The whole thing is just odd. And makes me nervous that I currently have an offer in with them! Guess we'll see.
     
  15. Belle & Ariel

    Belle & Ariel DIS Veteran

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    The later buyer has posted on here. Apparently our contract was through another agency who has reciprocal deals where they sell each other's listings. Our offer was made Friday and accepted Monday. Hers was made Monday and accepted Tuesday. Tuesday afternoon we got a call that our contract went to another buyer.
    I think both offers were full price and they presented ours to the seller, it was accepted. Fidelity would have to split the commission with our agent. They got an identical offer from one of their clients and figured they could substitute it and keep the full commission, probably thinking no one would ever find out. We both post here and so it is obvious they are not acting legally or ethically.
     
  16. wrighter

    wrighter DIS Veteran

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    I'm so sorry, Belle & Ariel. That just plain ol' stinks. When I saw that they appeared to be the ones who got "your" contract, I asked who they used at Fidelity - I thought perhaps maybe someone at Fidelity had more clout than someone else. But do I understand correctly that you were not using a Fidelity agent? But this agent was putting in your offer on a Fidelity contract? It all seems so confusing. And it certainly leaves a bad taste in your mouth! And mine - I put in an offer on another contract at Fidelity yesterday - haven't heard anything back yet. Not sure if I want to!

    Here's to hoping that something better comes along soon. Keep your head up!

    Did you see that there is another 100 point contract available? I think it just came up yesterday. Dec UY at AKV . . . It's priced high but you could still make an offer. The price listed on the one we made an offer on was high, also. But it never hurts to try.
     
  17. twinsouvenirs

    twinsouvenirs Mother of Dragons :)

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    I put in an offer with TTS and didn't hear back all day... then heard back mid day the next day that the contract sold that day and they emphasized that it sold at full list price several times, with apologies.... the sales person/broker did emphasize that he made repeated attempts to convey my offer but it is frustrating, since they were apparently able to reach the seller with that full price offer.

    I never had an accepted contract so it's not as though the rug was pulled out but I really expected to hear back with at least a counter (it was not a total lowball) rather than hearing back over a day later that it sold.

    Light annoyance is the current result.
     
  18. wrighter

    wrighter DIS Veteran

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    The logistics, science, psychology and business of the resale. Someone needs to do their Masters Thesis on this! Lol!!!
     
  19. Belle & Ariel

    Belle & Ariel DIS Veteran

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    Some of the resale companies have agreements where they will let each other sell their listings. Say you have previously used XYZ resales but ABC DVC has a contract you want. So that you can work with your preferred broker, they share the listing and split the commission. We were working with such a broker who called Fidelity Friday to confirm the contract was available since so many listed are actually already sold. It was and we made the full price offer which was accepted. Rather than Fidelity sharing the commission, they pulled it back and sold it to their buyer so they could keep the full commission. The seller would never know--they had a full price contract on Friday that is instead going to someone who came along later. I doubt this is the first time they have done this--the likelihood of the original buyer and the later buyer both posting here the same day are very small. Who knows what they get away with. I would not do business with them. There are reputable ethical companies out there who deserve our business--Fidelity does not.
     
  20. Mickbee

    Mickbee First voyage of the Magic crossing from Kingdom to

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    I'm not an expert here, but as I have experienced is if a seller is not able to be reached AND a full price offer is received, the full price offer satisfies the sellers terms and would go directly to contract. I've been a seller several times and some contracts we sold didn't we receive a call presenting the offer; the full price offer went right to contract as the full term/price was satisfied.


    If any request for change outside the norm (i.e. extended closing period) are requested, the revised terms will need to be presented and agreed by the seller. Another potential delay... It may seem like an insignificant requests, but the realtor are required to present the revision.

    My advise to the "spouse is in a meeting": Establish your purchase parameters together well in advnace of finding your ideal contract. As soon as you come across the ideal contract satisfying your terms, pull the trigger. If you hesitate on prime contracts for a few dollars or indecision, the contract could slip away. It is human nature to want to haggle a bit and better the position with a slightly better deal. This could also lean to a loss...

    For the small contracts, weigh the closing costs, absence of points, and dues to establish the true point-cost. Sometimes a point cost may seem higher but the current year points are available, though the seller is paying these costs. The higher point cost will be overall reduced at closing.

    Example: 150 point Vero contract with all 2013 points available and the seller pays 2013 dues is $1,111.00 less the buyer has to pay at the closing table. If the seller is asking $3 more than the average contract without paying the dues, you are saving $661 in the end.

    This example isn't intended to discuss Vero dues vs SSR or anywhere else. Just an example. ;)

    Also establish your value of banked points. A loaded contract with banked, current and future points may mean a lot to you, or nothing.

    We recently purchased two great small contracts because we had the parameters set and bought as soon as listed.

    Best of luck and happy hunting!!
     
  21. Mom B

    Mom B DIS Veteran

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    Sorry to hear about your "misfortune," but have faith! Your day...or contract, should I say...will come! ;) Best of luck to you!
     

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