Any resalers to avoid?

[beezerdave]

We're looking into buying DVC through a resaler. Anyone know of any particular resaler that we should avoid? And if so, why? Thanks!

 

[Zurg]

Why focus on the negative - who to avoid?

We used TTS (look at the banner up there ^) and they were great.

 

[RobDoc]

All of my resale experience is based on dealing with one broker. I have purchased three resales thru The Timeshare Store and my broker was Pat Spell. I can highly recommend their high level of service. They also have the largest number of listings to choose from.

Good luck with your decision.

 

[JimMIA]

I concur with Zurg and Doc regarding TTS. We've used them and have been very satisfied.

I would approach this the opposite way. I would go by positive references ,and you will get good comments about one or two other resale brokers besides TTS. I'm partial to TTS because Pat Spell and the rest of the folks there have done a very good job for us, but there are other good brokers.

If you encounter someone nobody here recognizes, I would be cautious and research them carefully. Our public records in Florida are very informative and very open, so it would be easy to conduct research if you need to. In particular, I'd want to know how many different companies someone had been involved with, whether they had experienced any issues with their license, been disciplined, suspended, etc.

If I got even a hint of issues, I'd go back to one of the more reputable companies -- most resale listings are NOT exclusive, so you don't have to deal with just one person if you are not comfortable with them.

 

[Cricket2]

Yeah, the guy in the van down by the river

Seriously, I have dealt with TTS more than once and they were great.

 

[Dean]

Find your best deal and control the closing company. Do your due diligence no matter who you deal with. I don't think it makes that much difference otherwise and certainly wouldn't pay more to buy from a specific one. A private sale will likely save you a number of dollars. You can control the closing costs better putting them more in a reasonable $250 or so range, less if you feel like doing much of the work yourself. And you usually can save enough on the actual price and many times on the maint fees to make it more than worthwhile. Esp since most of the resale companies wrongly suggest you need to pay the entire years fees even if your only getting points for part of the year. You also have the ability to play around with alternate options like a permanent swap of X for Y, something you have essentially no chance with through a broker. But it will depend on specifics and you should look at every deal for what it is and what it is not whether it be private, resale company or through DVC. Only then can you compare apples to apples.

 

[CarolA]

I have used TTS and one other with great results. If you run into Reid realty I would think long and hard. I tried to buy via them... I had to keep chasing them down and after two weeks they still had not bothered to present my offer to the seller. I just walked.

 

[JimMIA]

Find your best deal and control the closing company. Do your due diligence no matter who you deal with. I don't think it makes that much difference otherwise and certainly wouldn't pay more to buy from a specific one. A private sale will likely save you a number of dollars. You can control the closing costs better putting them more in a reasonable $250 or so range, less if you feel like doing much of the work yourself. And you usually can save enough on the actual price and many times on the maint fees to make it more than worthwhile. Esp since most of the resale companies wrongly suggest you need to pay the entire years fees even if your only getting points for part of the year. You also have the ability to play around with alternate options like a permanent swap of X for Y, something you have essentially no chance with through a broker. But it will depend on specifics and you should look at every deal for what it is and what it is not whether it be private, resale company or through DVC. Only then can you compare apples to apples.

Dean's points are all well-taken, but Dean has the benefit of being an expert in the timeshare world. I'm not being cute - he really is, and I often recommend people contact him with technical questions about the industry...especially outside DVC. Unfortunately, I don't have Dean's experience or knowledge of the timeshare industry, so I would not feel as comfortable as he does going my own way.

I think an experienced resale broker can be critical with one aspect of a resale purchase -- ROFR. The handful of realtors who deal with DVC often have a much better handle on what will pass ROFR, and what will not, than we do. If you don't pass ROFR, all other components of your contract are irrelevent to you -- you lost the deal.

In my own case, I was in a position where the only recent ROFR on the resort I was buying, that I was aware of, was at $70. The seller was asking $73, but I wondered about $72. My broker suggested that $73 was a good price, and that other contracts had been ROFR'd at $72. That wasn't speculation; she knew. I paid $73, other contracts were ROFR'd at $72...and the rest is DVC history!

We recently (this week) had a situation where someone was trying to buy a private sale at considerably less than is going to pass. We don't know everything here, but there are some contracts we just look at and say

We tried to give that person sound advice, and we probably moved them in the right direction, but if they offered what I think they did, they are going to get ROFR'd. That's the weak link in going out on your own - you could miss a great contract for a couple hundred bucks.

The other situation where I think a good broker/realtor can be very helpful is when problems arise in the transaction - the seller starts acting weird, documents are messed up, Disney loses the paperwork, etc. They can be very helpful in those situations.

Again, if you are an expert in this stuff, you don't need to worry about those issues. But, as the wise man once said, "A man's got to know his limitations." I know some of mine, and I want a strong partner in my corner.

 

[Granny]

In addition to TTS, many people here (myself included) have enjoyed purchasing through Jaki Apetz at A Timeshare Broker. http://www.atimeshare.com/disney/

When looking for contracts in the resale market, it is helpful to look in multiple places to get the resort and number of points you really prefer.

Good luck in your hunt!

 

[beezerdave]

Thanks for your input. The only reason I did put the emphasis on the negative was because after speaking to the nice folks at TSS (Christy was very helpful) I realized that with all the people looking for DVC in the point/cost area that I am (small) it might be awhile, perhaps a long while to get something. That being the case, I thought I'd look to other resalers to help. I did speak to one who was also very nice, but didn't have anything and I did leave a message for the fellow named Reid (sounds like I won't be hearing back from him according to an earlier poster. Just the kind of info I was looking for, who not to waste my time pursuing). Well, thanks again. Wish us luck in finding something we can afford.

 

[JimC]

I can recommend the Timeshare Store. Three transactions with excellent service. We worked with Pat Spell and highly recommend her and The Timeshare Store. I appreciate their support of these Boards. Tom has a clean broker's license and is a member of BBB with a clean record. That got me to call the first time. The great service brought me back.

 

[dsneygirl]

We had a good experience with our recent purchase through TSS. Jason was our broker.

 

[CarolA]

I did speak to one who was also very nice, but didn't have anything and I did leave a message for the fellow named Reid (sounds like I won't be hearing back from him according to an earlier poster. Just the kind of info I was looking for, who not to waste my time pursuing). Well, thanks again. Wish us luck in finding something we can afford.

Maybe you will get lucky and Reid will contact you. He must give some customer service since he does seem to sell some units LOL! I just got tired of excuses... (owner was on vacation, broker was sick, etc. Personally I have sold real estate and my brokers always knew where to find me!!!!)

 

[T.E. Yeary]

Thanks for the vote of support! It really means alot to me as well as my staff.

If you think about it, there is alot of pressure on us, TTS, to perform. We have the eyes and ears of all the folks on this board. The last thing we want is to upset anyone and will go to great lengths to avoid unpleasant situations. Not to say we are perfect by any means, when human beings are involved issues do arise. We have always made it our policy to remedy any situation in a timely manner.

What I'm trying to say is, so many people are watching, it does provide a certain level of protection for those who feel skittish about approaching those in the Resale Market. Don't fool yourself, there are still people out there who will take the money and run. Jim is so on target when he said to check out the track record of somone that you're not hearing about on this board.

Handling the DVC's requires a great deal of knowledge as they are unlike any other on the market. You need someone who specializes in this area to achieve the outcome you desire. Sure, sometimes folks can get "lucky", but there are still lots of horror stories. Do your homework!

Warning signs for BUYERS to watch for:

1. A small amount of listings on their site (Indicates NO track record)

2. Talking with agent leaves you unsure they know the product (Run, don't look back)

3. Unreturned or late response to your inquiry (Where will they be when you need help with the ROFR, Closing Process & getting into the DVC system? A knowledge of the right people to contact in case of a situation is imperative.)

4. Mistakes on postings on their website. Example: OKW, 2 bedroom Wk 6 ( DVCs are in points, not weeks and certain size units like most timeshares.)

5. The company tells you that you can purchase BWV for $65 a point and ROFR will be no problem. (They will get their commission when Disney does a buyback, so they really don't care if you are a new owner or not. In fact, they prefer it, because it's less work for them and they don't have any worries about the closing process or anything else. They are not concerned about establishing a long-term relationship with a customer. Only their relationship with their own banker. You get the picture)

Warning signs for SELLERS to watch for:

1. The company asks for an upfront listing, advertising, appraisal, website development, or auction fee. (There is no end to the names they come up with to describe an upfront fee. This is one of the biggest ripoffs out there. These people will take your money and in most cases you will never hear from them again.)

2. Company "A" asks you to sign an "exclusive" listing agreement with a term of several months or even a year (usually 6 months or more), which of course means you are stuck for the duration of the agreement, even if you find your own buyer. If you also list with company "B", (or have previously listed with company "B" prior to listing with Company "A") and the agent from company "B" finds a buyer, as soon as Company "A" finds out about your sale, you are going to get a letter from their lawyer demanding their commission as well.
.
3. The company charges you a cancellation fee if you withdraw your listing before the end of the listing term. (Example: Things happen, if you were selling for financial reasons and suddenly came into some money, you would still be forced to sell or pay the cancellation fee which can sometimes be hundreds of dollars.)

4. They tell you they can get you $150 per point. (That's an exaggeration, but it happens. They will start hitting you up to reduce your price as soon as the listing contract has been signed. They will say the market has changed. Just remember, if it sounds too good to be true, you know the rest.)

5. Is their office easily accessible to the public? You should be able to walk in during regular business hours and be assured they can and will handle your business transaction.

6. Is it a boiler room type of operation? This is a really big turn-off to someone who may be interested in purchasing your property. Hearing all those voices in the background is NOT what you want your prospective purchaser to hear.

7. Do they have a person answering the phone or is it primarily an answering machine. People are continually frustrated in this day and age just dealing with the obstacles of trying to speak to a real person. This does NOT put them in the buying mood. Most often they will keep calling around until they reach someone who can discuss their situation.

8. Does the broker work out of their home? Do you really think the purchasers are going to drive to their subdivision, knock on their door, and sit down at their kitchen table and write up a contract? How many DVC buyers have actually done that? The internet has enabled many people to disguise the true circumstances of their situation. They have a pretty website, so the public thinks they are dealing with a really big operation.

These are just a few of the most blatant obstacles out there. So I say to you all, just as many have said on this board, DO YOUR HOMEWORK!!!


Thomas E. Yeary (Tom)
Owner/Broker

 

[gharrer]

Though we bought through Disney, when I called TSS, Christy called me right back and was very helpful. The only reason I went with disney was it was very simple and quick. Nancy

 

[Cruelladeville]

I just bought a contract thru Jaki Apatz recently, and she was great! From start to finish, it took about a month, maybe 5 weeks. She also was fine with counter-offers, which some resalers are not. Call me silly but OKW at $85 leaves some room for negotiation,IMHO. You should also have an agent who is willing to listen if you want to negotiate who pays closing, or dues for the year. Check out their web sites, and compare costs, so you get a feel for what you should pay for your resale.

 

[DVCconvert]

Tom's imput here is invaluable! Thank You Tom!

Christy was very helpful

If you're talking about Kristie Wireman at TTS...I can personally vouch for her.
I have bot multiple contracts thru her and TTS...and been completely satisfied!

I have dealt with one other yet un-named broker on this thread...and my advise is to stick with TTS!

 

[Torontogal]

Do Not Deal With Anyone But Disney And The Timeshare Store!
We used Timeshare Store for our purchase and the process was very efficient and painless.
Being in Canada - we were very nervous dealing with a company over the phone and e-mail but they were excellent. I would be happy to tell you about my experience if you PM me.
I HIGHLY recommend Timeshare Store once again! I do not have a single complaint.
P.S We are going "home" for the 1st time in 14 days and very excited!

 

[bavaria]

I went with TSS based on board feedback, and it was a great experience from start to finish. I found my 'perfect' contract within two days of calling (ok, they found it for me!) and they provided excellent customer service.

When Pat was out sick, her daughter actually took over her calls to ensure that her clients were not left waiting.

They will be my first choice for an additional resale if my budget ever allows!

 

[dsneygirl]

I went with TSS based on board feedback, and it was a great experience from start to finish. I found my 'perfect' contract within two days of calling (ok, they found it for me!) and they provided excellent customer service.

I couldn't believe how fast they found a contract that matched our needs. It was only a couple of days as well.