Best places to buy resale?

[skateshome]

Looking at DVC Resale Market.com right now and they seem to have a little better pricing than most.

 

[supersnoop]

The price is set by the seller, not the broker. Find the contract you want (number of points, use year, available points) and make an offer. Fidelity charges an extra $195 fee. Some of the less reputable brokers charge ridiculous closing costs. Otherwise, it's all pretty much the same.

 

[Friendlyadvice2]

The price is set by the seller, not the broker. Find the contract you want (number of points, use year, available points) and make an offer. Fidelity charges an extra $195 fee. Some of the less reputable brokers charge ridiculous closing costs. Otherwise, it's all pretty much the same.

This is not the case with the majority of resale contracts. The brokers like DVC Resale Market.com are actively involved in setting the sales prices and have an obvious interest in pushing the market as high as it will go; afterall, their commission depends on it. Much like a "normal" realtor, many are now providing comp information to advise what the seller can expect from a worst case or best case scenario to entice the seller to list their contract with them. The seller may agree with the broker and sign off on the sales price, but the majority of sellers aren't setting the price themselves. Although if I was selling a contract I would advise what I think the selling price should be but that's only because I actively watch the market. I'd gladly entertain what other information the broker has to justify a variance from my price.

Looking at DVC Resale Market.com right now and they seem to have a little better pricing than most.

I do agree with finding the contract that you want and making an offer, but I also agree with the OP's observation in the fact that there are obvious differences in asking prices between the different brokers.....the actual sales prices/terms of those contracts are a different story as evidenced by ROFR thread and the actual deed filings.

 

[Boonesully]

I went through DVC Resale Market. Still waiting on ROFR, but they have been very helpful and honest so far. Great at answering all my questions

 

[supersnoop]

This is not the case with the majority of resale contracts. The brokers like DVC Resale Market.com are actively involved in setting the sales prices and have an obvious interest in pushing the market as high as it will go; afterall, their commission depends on it. Much like a "normal" realtor, many are now providing comp information to advise what the seller can expect from a worst case or best case scenario to entice the seller to list their contract with them. The seller may agree with the broker and sign off on the sales price, but the majority of sellers aren't setting the price themselves. Although if I was selling a contract I would advise what I think the selling price should be but that's only because I actively watch the market. I'd gladly entertain what other information the broker has to justify a variance from my price.

I do agree with finding the contract that you want and making an offer, but I also agree with the OP's observation in the fact that there are obvious differences in asking prices between the different brokers.....the actual sales prices/terms of those contracts are a different story as evidenced by ROFR thread and the actual deed filings.

I think you're confusing list price (or asking price) with selling price. There's no reason to believe that any one broker will be able to offer a buyer a better deal than any other. With the one possible exception of Fidelity, who seems to get the distressed sales referred from Disney.

 

[Pigletpal40]

We've always bought and sold through Time Share Store. No problems. Our last sale,150 pts. VWL sold in about a month and closed after about six more weeks.

 

[Friendlyadvice2]

I think you're confusing list price (or asking price) with selling price. There's no reason to believe that any one broker will be able to offer a buyer a better deal than any other. With the one possible exception of Fidelity, who seems to get the distressed sales referred from Disney.

Actually, not confused at all and even make the distincton between list/actual in my post. Also, I'm not sure what list prices and asking prices have to do with my belief that the brokers are actively setting the prices versus your belief that the sellers are, as you stated. I don't think MOST sellers are that in tune with the market to do so; your experience must vary. Sure, the sellers have to agree to the actual selling price, but that's much different than them setting the price versus the broker, as you stated. The brokers are actively trying to push prices as high as they can and the sellers are paying them a commission to get as much as they can for their contract which includes setting an asking price and accepting a a selling price.

I don't support any one broker (in fact I'd rather not use any of them), but in looking at the terms of the various contracts, there are obvious pricing differences between various brokers at any given time. If you believe that "there's no reason that any broker will be able to offer a buyer a better deal than any other", than I have to ask, when you purchase a contract, you don't shop around since there's no difference in deals between various brokers in your mind? Something tells me you shop around plenty. For my recent purchase, I made offers with 4 or 5 brokers and went with the best deal I could make, so there's EVERY reason to believe that any broker can offer a buyer a better deal at any given time. One broker consistently stood out as having higher prices. The ROFR thread and recorded deeds show major differences in deals in similar contracts. Just as you picked up on Fideltiy listing a number of distressed conracts, many have also noticed certain brokers listing contracts with higher asking prices. I firmly believe the majority of those prices are set by the broker and not the seller as you stated. One thing for sure, when it comes to DVC, evebody's experience seems to vary.

 

[DisneyGirlFlorida]

One thing I noticed as a very, very new buyer (just sent back my signed contract this morning), is that resale prices "may" fluctuate based on other variables such as closing costs and commission. For example, I had an offer in from one broker for a 125 pt partially contract with closing costs of $690. When the seller rejected my offer, I looked at another broker. I found a very similar contract 120 points, fully loaded, with closing costs of $530. Now granted what it's only a $160 difference, and in most cases it only affects the buyer. I know closing costs are set by title companies, and not the broker, but my thought is the broker "can" control what title company they work with. If the seller were paying closing costs, higher closing costs could affect their price per point. In addition, the difference in closing costs was enough to lead me to believe that if closing costs are that much of a variable, how different are commission fees between brokers? Commission fees would also affect the seller's asking prices.

I also noticed from watching the market over time that some brokers have faster turnaround, more listings, etc., than other brokers. Those are all things a seller would consider when listing their contract with a particular broker.

When I was researching resales, I didn't favor any one broker over another. I went with whomever had the resale I was most interest in. I did stay away from a few based on reviews and what I read here on DisBoards. So far, I like the broker I went with based on the fast service and attitude of the agent.

 

[supersnoop]

Actually, not confused at all and even make the distincton between list/actual in my post. Also, I'm not sure what list prices and asking prices have to do with my belief that the brokers are actively setting the prices versus your belief that the sellers are, as you stated. I don't think MOST sellers are that in tune with the market to do so; your experience must vary. Sure, the sellers have to agree to the actual selling price, but that's much different than them setting the price versus the broker, as you stated. The brokers are actively trying to push prices as high as they can and the sellers are paying them a commission to get as much as they can for their contract which includes setting an asking price and accepting a a selling price.

I stand by my statement. A broker might recommend or suggest a list price, but the seller sets it. And the seller accepts or rejects offers.

than I have to ask, when you purchase a contract, you don't shop around since there's no difference in deals between various brokers in your mind? Something tells me you shop around plenty.

Of course I shop around. I shop for the right contract. The list price does not make one contract better than another. I've purchased four contracts through three different brokers. I care about who has the best contract for the best selling price. List price is irrelevant.

 

[skateshome]

Who did you use Disney Girl Florida?

 

[pangyal]

I do agree that brokers are currently trying to push the prices higher and higher. We were actively searching for BLT and VWL last month and had a certain price that we would not go over. One broker (who we had worked with in the past and really liked) was quite adamant that we not offer below a certain amount for BLT, as the "market was currently higher". I questioned this and asked if it wasn't up to the sellers to decide this regarding the offer. The contracts ended up selling at full asking anyway, so we didn't offer. We went with a different broker for both purchases and both contracts were sold below asking. So I do think that, to a certain extent, brokers are hyping up the sellers to stick to certain pricing levels.

 

[suebeelin]

We bought from fidelity both times. I thought they steered me to pay more for my first contract so I wasn't super happy happy with them (I was a newbie).

However, SIL just bought from them as well. She just passed rofr. They did try to get her in a bidding war for a loaded contract. She declined and went for a stripped one with 2016 (all) points. I helped guide her so she got a good price.

When I was buying my 2nd resale from them, they tried to get me in a bidding war on the first offer I presented. I declined and went for another contract that fit my needs better (same use year). I was seasoned this time and got a good price. Made up for the bad first experience.

They aren't the best at customer service but they get the job done. They do have a $195 buyer fee, but their closing costs were under $500 for 200 pt contracts.

Offer what you think the contract is worth. Unless you're in a rush, stick in your price range. I would have used any of the brokers, but fidelity was easier to negotiate with... After my first newbie experience

 

[disneynutz]

The price is set by the seller, not the broker. Find the contract you want (number of points, use year, available points) and make an offer. Fidelity charges an extra $195 fee. Some of the less reputable brokers charge ridiculous closing costs. Otherwise, it's all pretty much the same.

My guess is that most sellers have no idea what price to set and the defer to the broker for guidance.

Bill

 

[skateshome]

I'm seem to be running into a wall here. I've put out a few offers on 160 - 165 point contracts and best counters I'm getting are $113 per point. Seems like this is the upper end of the scale from what I can gather.
Looks like lots of people are getting $108 or some even lower. How are they doing this? Just finding contracts for folks that don't know what they have or contracts that haven't sold in a long time so the owner goes much lower?
The other side of the ball is $108 - $113 dollars only makes an 800 difference on an $18k contract. It's really not a lot a difference when you look at it overall. Any help or advise?

 

[DisneyGirlFlorida]

Who did you use Disney Girl Florida?

I used DVCResaleMarket (Nick Cotton). They have been really wonderful. When I placed my offer through the web, Nick called me within 30 minutes to let me know he received it, and asking me how firm I was on it. He called me back within another 30 minutes to tell me he talked to the seller and they accepted. I was very impressed with the quick phone service since another company I went with for my first offer on a different contract did everything by email. I switched brokers when my first offer was rejected. The next day I received all the contract paperwork and a confirmation that it was received when I faxed it back. Then I got another email telling me the contract went to ROFR and a few days later an email confirming my deposit was received by the title company.

Overall, I'm impressed with the fast communication (which is always a big plus to me). I would recommend them again!

I'm seem to be running into a wall here. I've put out a few offers on 160 - 165 point contracts and best counters I'm getting are $113 per point. Seems like this is the upper end of the scale from what I can gather.
Looks like lots of people are getting $108 or some even lower. How are they doing this? Just finding contracts for folks that don't know what they have or contracts that haven't sold in a long time so the owner goes much lower?
The other side of the ball is $108 - $113 dollars only makes an 800 difference on an $18k contract. It's really not a lot a difference when you look at it overall. Any help or advise?

My suggestion would be to determine how patient you are. It's possible that since this is summer, some owners may be selling due to school starting, reevaluating their situations, etc. It could just be a market timing issue, or it could be the start of a semi-long-term trend. I have noticed an uptick in prices across the board by a few dollars. That may have something to do with Poly being offered from sale and the sold out status of VGF back in April, then again, maybe not.

If the $800 difference isn't a big deal to you and you want to purchase "now" then go for it. It's a risk if you wait to see if prices go lower, because they could go up and you may be kicking yourself for waiting. Then again, they could go down significantly, and you'll be sorry you bought now. It's a little like the stock market LOL. In the end, I'd do what "feels" right and what your instinct is saying.

Keep in mind that it will be about 3 months or so before you are all "settled" with your DVC membership number, and can start looking at booking a trip (assuming you are booking 7-11 months out from that point).