Dean, another Question about resales

[Peterd]

Dean, From what I've read on the boards, I know you know quite a bit about resales. I was thinking of buying a BC contract and selling an okw contract. The 2003 points were gone for Okw, and was thinking of including in my sale the 2003 BCV points I purchase, then just bank the 2002 bc points for us.
If I find a buyer, who would I contact for the closing? I thought I heard of a firm that just handles closings of timeshares, without the extra fees. I was listed with TUG a few months ago, and I guess it expired. Do you know what the going rate is for okw or BWV resales now? I know BCV is 70 now for NY before the 12th or 14th, then up to 80. I was wondering what this was doing for the current resale markets of BW and Okw. Thanks for any info.
Pete

 

[Dean]

You're talking about a pretty complicated situation as you've described it. You are likely better off by just simply reducing the price. For sake of discussion, I'll assume a base price of $65 per point, 200 points in an April use year and that ALL of the 2002 AND 2003 points are gone. I'd reduce the amount by about $6 per point for this years points and $10 per point for next years since this years fees have already been paid. Alternatively, you could pay the fees for the 2003 calendar year and adjust next year by $6 per point as well. That puts you at about $50 per point plus the fees for next year and the buyer paying closing.

Of course if the specifics vary, so would the price and various numbers. If the use year is much later, that would push the price back somewhat. You will lose about $30 per point when all is said and done. Why not consider just doing an add on. I suspect in the long run, you will be better off. You can add on about 75 points for the price difference for the same number of points and since you would likely need more BC points than OKW points anyway, you may even be able to add on more and come out "even". The other benefit is that your yearly fees will be about 50¢ per point cheaper for the OKW points. That's $100 per year on 200 points.

No way I'd complicate the deal up front by packaging with your BC points. You'd have to complete your BC sale and close before you could even think about it anyway. Besides, ALL pending reservations with your OKW contract would be CANCELLED at the time of sale regardless of who's name they were in so you'd have to wait until all reservations were completed before you could accept an offer.

I hope this helps.

 

[joepoe]

I would not sell OKW just to buy at BCV. All you are getting for your effort is the ability to book at the 11 month window at BCV, plus, the annual fees per point will be higher. JMHO, but a very expenseive trade-off. Instead of selling one to buy the other, take the money you save and do a 50 point add-on at BCV and bank and borrow to ensure the 11 month window when you really need it.

 

[Peterd]

We do like the okw, but really prefer the BW area and the 11 month window there. I was thinking if we sold the okw minus the 2003 use year, and gave the buyer the 2003 bcv use year, it would almost be a wash, except for the 2002 use year being gone. We were looking into buying a 200 or more BC and sell the okw 150 contract.


"ALL pending reservations with your OKW contract would be CANCELLED at the time of sale regardless of who's name they were in so you'd have to wait until all reservations were completed before you could accept an offer."

Thanks for that info. I didn't even think about that, but since we're going in Nov with the points, I guess I could wait 'til after we get back to close any sale.

Anyone know what an okw resale contract goes for with 2002 points gone and 2003 intact. Thanks again.

 

[joepoe]

check the dvc resale listings on the timeshare store board- that's what we did. We bought BWV in 98 and an OKW resale this spring. We like them both for different reasons. www.dvc-resales.com Good Luck!