any tips on selling DVC points without going through reseller

[Cindy Girl]

HI! I have a DVC contract I want to sell outright and I was wondering if anyone has had any experience doing or any tips on what to watch our for.

Thanks,
Cindy Girl

 

[Cruelladeville]

I assume you have never sold a contract before. If this is correct, you need to go thru a resale agent like TTS. This is a difficult and time-consuming process to do without help--I have done it once, and wouldn't do it again, because it wasn't worth the money I saved. The cost is about 12% of the selling price, which is pricey, to say the least, but the process becomes so much easier. You pay 12% to be able to sign 1 or 2 papers, and that's it. Otherwise, you will need to notify Disney of your intention to sell, once you have a buyer you have to sibmit ROFR papers, submit papers to Orange County, and so forth. Not knowing the process can add weeks or even months to the selling time. You might want to reconsider...

 

[Dean]

I've sold twice without a broker and bought one DVC contract without a broker. I've also bought and sold other timeshares without a broker. 10-12% is a big chunk of a full size contract. You could list on ebay, tug2.net, bidshares, redweeks and the like. Then if things don't work out for you, you could fall back on the brokers. All a broker does is find you a buyer and handle some of the contract issues. The closing agency will do the rest in most cases and that's where your potential time and frustrations savings lie.

But it will take potentially more time and you may get a little less selling it yourself so you need to weigh the factors. If you need a quick resale, you can always go both ways. I know at least some of the brokers, I can give you one if need be, will do non exclusive listings. That way if you find you're own buyer, you owe them nothing. The best of both worlds some would say.

 

[Beca]

I have sold two contract by myself, and thought is was REALLY easy!! Seriously, I don't see much difference between selling outright and using a broker (I have done both).

Dean gave you really good advice. PM me if you need more details.



Beca

 

[JudyS]

I agree with Dean.

....you will need to notify Disney of your intention to sell, once you have a buyer you have to sibmit ROFR papers, submit papers to Orange County, and so forth. Not knowing the process can add weeks or even months to the selling time. You might want to reconsider...

I bought a contract that was sold w/o a real estate agent. Our closing company handled ROFR, the papers to Orange County, and the like. I don't think forgoing the reseller added much extra time. However, the seller and I did have to write up our own sales contract; the closing company didn't have a standard one.

 

[kgforce]

HI! I have a DVC contract I want to sell outright and I was wondering if anyone has had any experience doing or any tips on what to watch our for.

I was about to make a similar post! We are in a similar situation as you are, Cindy Girl. We've moved to Arizona, and our financial situation has changed... gotta sell!!!

Thanks, Dean and Beca for the tips!!

 

[Cindy Girl]

I agree with Dean.



I bought a contract that was sold w/o a real estate agent. Our closing company handled ROFR, the papers to Orange County, and the like. I don't think forgoing the reseller added much extra time. However, the seller and I did have to write up our own sales contract; the closing company didn't have a standard one.

Which closing co did you use andif you don't mind me asking, how much did they charge?

Thanks CG

 

[SleepyatDVC]

Which closing co did you use andif you don't mind me asking, how much did they charge?

Thanks CG

When you buy or sell through a broker, the buyer usually pays for the closing company. Obviously this is negotiable.

When we purchased our first resale it was from a private seller who wasn't sure of what to do. Because the price was right and there was a ton of banked points and for my peace of mind, I requested we go through a closing company and I paid the fee. At the time, it was $400 - $500.

I picked the Timeshare Closing Services, the same one that the Timeshare Store uses, because it was only one I heard of at the time and I knew they were familiar with how to handle DVC resales.

They handled everything. I think they even had a sample sales agreement. Either that or I modified a resale agreememt I was buying around the same time from a broker.

The private seller I bought from told me that if I ever had to sell, definitely try to do it yourself. He said that he got phone calls and e-mails, weeks and months afterwards from people wanting to buy. He even had someone offer more than his asking price if he would sell to him instead of me. The seller refused because he said I was the first serious buyer to call him, I seemed to know what I was buying and doing, and enjoyed how we did business together.

The private sale went just as smoothly as the broker sale.

You might want to have a separate e-mail address (and even number) for the those interested in your DVC sale. Apparently you may get contacted about it for months after you no longer own it.

Good luck.

 

[CharlesTD]

I have seen people sell them on E bay just get a closing company and post it up the closing company will take care of ROFR just set a reserve so you don't get bids to low and then set it for say 7 days and wait and see then you don't have a realtor to pay commission to.

 

[Dean]

Which closing co did you use andif you don't mind me asking, how much did they charge?

Thanks CG

Timeshare Transfers charges $250 though they've recently added a fee for ROFR.

 

[tigger002]

Timeshare Transfer seems to be less money ar $250 over Timeshare Closing which seems to average $450 to 550 depending on the number of pts. Does Timeshare transfer just do the same thing for less money? Is there any reason Timeshare Closing should be used over Timeshare Transfer?

 

[Dean]

Timeshare Transfer seems to be less money ar $250 over Timeshare Closing which seems to average $450 to 550 depending on the number of pts. Does Timeshare transfer just do the same thing for less money? Is there any reason Timeshare Closing should be used over Timeshare Transfer?

The main difference is the price. They actually charge $200 if you buy it from bidshares. They have started charging extra for ROFR but it's easy to do that on your own anyway. They will also do just a deed or act as escrow alone. And based on the deeds that DVC does when they buy back, I think one could easily do everything on their own and the only cost would be the recording and transfer fees themselves.