Can you finance if not buying through Disney?

[MAGICX2]

We are selling our contract at SSR. We have had it listed for nearly a year now with a broker with not even as much as a look our way. However, we have some people in our area that we know that are interested in purchasing DVC, but think they can only buy directly through Disney because they want to finance. What are their other options? And before you say it, a home equity loan is something none of them will consider.

 

[tjkraz]

I've never heard of a reseller being able to write a mortgage (loan secured by the property) the way that DVC does.

For the most part, other loans are simply signature loans which a bank issues based upon the borrower's credit and promise to pay. Interest rates can be high and the interest is not tax-deductible.

Other people have purchased using low interest offers from their credit cards. But if your potential buyers are afraid of a home equity line, they may not be interested in carrying a 5-figure credit card balance.

 

[jlewisinsyr]

If there haven't been a lot of hits, your price is probably too high in relation to the rest of the resale market.

Second, go with a bigger name (ie. Timeshare Store or other place similar). As for financing, I believe the Timeshare Store did find a company to write financing that is very similar to DVC financing in terms of how it is treated (mortgage). Otherwise, most financing outside of DVC is treated as just a traditional non-secured loan with interest rates varying depending on bank/financial institution.

 

[Jason@dvcstore]

We are selling our contract at SSR. We have had it listed for nearly a year now with a broker with not even as much as a look our way. However, we have some people in our area that we know that are interested in purchasing DVC, but think they can only buy directly through Disney because they want to finance. What are their other options? And before you say it, a home equity loan is something none of them will consider.

The Timeshare Store, Inc.® would welcome the opportunity to list your points at Saratoga Springs. We continue to have success selling the DVC points and if you price your Saratoga Springs property correctly and haven't borrowed points from 2010 I would expect it to sell in a short period of time.

Feel free to email us at sales@dvcstore.com.

Thanks,
Jason at The Timeshare Store, Inc.®

 

[Dean]

We are selling our contract at SSR. We have had it listed for nearly a year now with a broker with not even as much as a look our way. However, we have some people in our area that we know that are interested in purchasing DVC, but think they can only buy directly through Disney because they want to finance. What are their other options? And before you say it, a home equity loan is something none of them will consider.

There is at least one company that will write a mortgage www.timesharelending.net, I'm not sure if TAMMAC.com is still lending on timeshares but I think they did personal loans not true mortgages, can't deduct the interest unless it's actually written as a mortgage (with a few other restrictions). And you could finance it yourself if you wanted.