Advice on how to sell

debbyLL

Mouseketeer
Joined
May 9, 2003
Messages
183
hi all,
unfortunately since my last post i am going through a divorce, my question is since dvc is part of the financial stuff, what i am best doing we have 212 at the boardwalk bought in 1999, one problem is i don't think we can sell yet as we have borrowed from next year i am still taking the children this year so cancelling is not an option. all advice gratefully received

debby
 
i don't think we can sell yet as we have borrowed from next year

Sorry to hear your situation is changing :(

I don't think that means you can't sell your points, just that the contract will be less attractive to the resale market than a contract with points banked and current. The resale brokers often have 'stripped' contracts advertised, but the per point price is lower than other contracts.
 
I've no experience of selling, but, I have seen contracts for sale where you are told 'cannot close until xxxxxxx (date)' and I think this is because they are waiting until their vacation is over. Not sure about this though. As well as the board's sponsors, The Timeshare Store, there is also another company called DVC by Resale.

I suppose you could try a UK-based timeshare sales company to avoid the currency transactions, but my fear would be the lack of understanding of how the dvc works as it's so different from other timeshares.

Good luck with it.
 
I did try to contact some UK based timeshare resales agents and either they had no understanding of DVC or it's value, or they were crooks, as they suggested I try to sell my DVC points for $15-20 per point ( based on that being about 25% of what they were selling for new at that time. I honestly don't think that is going to be a worthwhile option, but you can obviously try them.

What I did was to "buy" my ex out of her 50% of the DVC and keep it myself. I may decide to sell it in the future, but I will then (obviously) be taking all the money out of that deal.

In your position, if you want to go this route, I would contact a timeshare resale company, ask them what their charges would be for selling your 212 points, working on them selling at $75 per point (minus $10 per point for every point borrowed from next year). I.E . 75X212= $ 15,900 subtract ($10X number of points borrowed so say all 212 = $2120) = 13,780 take off all sales commissions and closing costs as a guess I'm going to say it's going to be between $1000-1500 so IMHO a fair value for you to buy out your partner is going to be in the region of half of $12,500 or $6,250 or GBP 3,400 .

Much depends on if you'd actually like to ( or can afford to) keep the DVC , if you would like to keep it you have to try and decide if your other half is going to want to keep it as well. If you can "buy" it for less than GBP 3,000 I think you've got a good deal on it and will not lose money if you choose to sell it in the future. I tend to agree with Hilary that it is likely to require the price to be at "bargain level" in order to attract a buyer, IMHO if someone is going to benefit from a bargain basement sale it might as well be you, or perhaps more importantly it might as well be your children that benefit from being able to continue having great vacations, even if it is in the midst of the splitting of their family. As part of my keeping the DVC points I agreed with my ex that she can have 3 nights accommodation ( in a studio) per year using the points AS LONG AS ONE OF THE KIDS WENT WITH HER. In 5 years she's only taken up the option once, but I believe that offer made it acceptable to her to accept a reasonable price on the points that otherwise would have been more difficult to calculate. I worked out what I thought was a fair value for the points and gave my ex the choice to buy or sell the points from or to me at that price, she chose to sell it (as I expected).

Divorce, particularly a "messy" divorce can be difficult on the kids, at times it can be the smallest things that hurt them the most, sometimes that can be having to give up a chest of drawers they've had since they were a baby or the thought they will be less likely to repeat the holidays of the past that they remember with fond memories. If you and your (soon to be) ex can work out something that means the DVC asset can stay in the family ( and I do understand there are circumstances where that won't be possible), I think the kids are the people who benefit the most from that decision. Often the reaction in this situation is just to "get rid of everything of value" and split the money, but you (and everyother owner) bought the DVC because you )both) thought it was worth more, to your family, than the cash value that was being charged for it. IMHO in most cases that "valuation" probably holds during and after a divorce as well as it did before the divorce, this is particularly going to be the case if you have to undervalue the contract in order to account for borrowed points.
 

hi vernon,

thanks for all that sorry only just been able to access the site my comp kept sayin site down? anyway this site never fails to amaze me for all the help for holidays and now the divorce, i will print your answer off and take to the legal people, but looks like buying him out would be an option for me

thanks again
debby
 
debbyLL said:
hi all,
unfortunately since my last post i am going through a divorce, my question is since dvc is part of the financial stuff, what i am best doing we have 212 at the boardwalk bought in 1999, one problem is i don't think we can sell yet as we have borrowed from next year i am still taking the children this year so cancelling is not an option. all advice gratefully received

debby

Have you borrowed from next year, meaning the year that is called 2006, for vactions this year or are you using the points in your upcoming 2005 contract? For example my use year is September and I get a new supply of points then. I also have a few 2004 points left to carry over into my Sept 2005 UY. On Sept 2006 I will get a new allotment of points. I haven't borrowed anything from 2006 so I would say that contract is intact. There is a huge difference. What is your Use Year? Having no points until the 2006 contract will not be attractive for sale at all. If you even have a few 2005 points it is beneficial. No 2005 and no 2006 points is considered a stripped contract and shouldn't be sold. I would need an answer to your point status to advise you.

Agents charge you a minimum of $1500 or 20% of your contract's worth, which ever is greater. You do not have to be a broker to sell or buy DVC. You just have to know how. I just sold my B'walk property (290 pts) for a price way over the one members here suggested. Remember you have to get through Disney's ROFR. This is important to you . If they offer too little it's okay for you since, if Disney buys the contract back you are ahead all that cash. If a Private buyer insists on bidding too low that is their option .
Let me know if I can help. You can email me or send a PM as I think this is too specific for the disboards.
 














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