Alittle advice needed

[nezy]

Has anyone had experience with or is familiar with one party in a divorce situation keeps their DVC interest?

My friend is divorced and so far they have alternated years, but that hasn't been working well. He wants to keep the points and buy out his ex-wife. Part of the problem is at what price and how is this done. He rec'd a form from DVC legal, but he is still not clear. Aslo, I think since this is an older contract that the price should be whatever the ROFR buy back price is.

Does anyone know what the going rate seems to be for DVC when they use the ROFR option?

 

[RobDoc]

Since it would seem logical that their attorneys will be involved, it may be appropriate to get an "appraisal" from one of the resale brokers to help establish a fair market value for the points.

If the two parties can agree on a fair price, it would likely simplify the process, but an appraisal would possibly be the best way to give both sides some confidence in the price.

You might suggest that they give <a href="http://www.dvc-resales.com">The Timeshare Store</a> a call for assistance (1-800-550-6493). They are the sponsor for this site and I'm sure would be willing to assist- even though they won't get a sales commission.

Good luck!

 

[nezy]

Thanks Doc. I will pass that along.

 

[Cruelladeville]

Don't forget that any change on the contract requires notifying DVC about it. There is a $100 charge to change, plus closing costs of around $400, which is just the same as if you sold it to a stranger. Apparently, you still need to file the ROFR , regardless whether or not you are selling to a (former) relative. Also, if any points are banked or borrowed, it increases or decreases the cost of the contract when selling, so that needs to be included when asking for an appraisal. The cost seems to be somewhere around $70 a point right now.