DVC Resale Broker Thread

[ClaraOswald]

Thank you everyone-- evidently I did get an email back from a Fidelity agent as I was typing my post to say that the contract I had inquired about was already pending, but she would get back to me if it fell out. I wrote back to ask her to let me know if they had any motivated sellers in the 100-200 point range for the 5 resorts I'd consider buying if I could get an offer below last month's average sale prices. I assume I need to keep scouring daily listings though? Is there anywhere I should be looking besides Fidelity, DVCStore, DVCRM?

We had a good experience with https://dvcsales.com/ so you can check to see if they have anything good.

 

[MsChristy12]

Thanks Ms. Christy-- did you, by chance, buy the 150 points at Beach Club?

You're welcome! haha no that wasn't me. However, I did see a few of their listings that are actually within your criteria. They are either very close to last month's average sales prices or just right below. Before I made the offer for ours, I was checking everyday instead of relying solely on the agents to contact me, because I know they are all extremely busy. Another thing you can do is, subscribe to broker's newsletter so you'll get emails on new listings or any deals. I hope you'll find the right contract soon! Best of luck to you!

 

[disney-inspired]

We had a good experience with https://dvcsales.com/ so you can check to see if they have anything good.

That's where I put in my SSR offer. I really like the automation of the site and having a minimum price set so I don't waste my/their time with back and forth through the broker. I also like that the site lists out the date and times of things completed and where I am in the process.

 

[HyperspaceMountainPilot]

That's where I put in my SSR offer. I really like the automation of the site and having a minimum price set so I don't waste my/their time with back and forth through the broker. I also like that the site lists out the date and times of things completed and where I am in the process.

I was just browsing around their site on my phone, but don’t see anything about a minimum price set. Are you saying the prices are “take it or leave it”?

 

[disney-inspired]

I was just browsing around their site on my phone, but don’t see anything about a minimum price set. Are you saying the prices are “take it or leave it”?

No, when I put an offer in a notification came up saying 'the seller will not accept an offer that low'. The notification didn't list the minimum so I just worked my way up until it was accepted in the system. Then the seller has to accept the offer on their end.

I think it all depends on what each seller sets as their minimum offer, kinda like Ebay.

 

[HyperspaceMountainPilot]

No, when I put an offer in a notification came up saying 'the seller will not accept an offer that low'. The notification didn't list the minimum so I just worked my way up until it was accepted in the system. Then the seller has to accept the offer on their end.

I think it all depends on what each seller sets as their minimum offer, kinda like Ebay.

That’s really cool, thanks!

 

[Chili327]

Thank you everyone-- evidently I did get an email back from a Fidelity agent as I was typing my post to say that the contract I had inquired about was already pending, but she would get back to me if it fell out. I wrote back to ask her to let me know if they had any motivated sellers in the 100-200 point range for the 5 resorts I'd consider buying if I could get an offer below last month's average sale prices. I assume I need to keep scouring daily listings though? Is there anywhere I should be looking besides Fidelity, DVCStore, DVCRM?

Yes, there are others.

I was just browsing around their site on my phone, but don’t see anything about a minimum price set. Are you saying the prices are “take it or leave it”?

Some do state they are not accepting offers, so its full price or nothing... those are the ones you just skip over if they are too high. (at any broker site)

 

[TinkAgainU]

Does anyone know why the closing costs are so much higher on DVCRM? I’m noticing that the closing costs are around $200 higher on DVCRM for the exact same contract than they are on 2 other reputable broker sites. I’m slightly frustrated.

Closing costs vary - as do the "contracts" you sign - with different brokers. For example, last I checked, www.fidelityrealestate.com added a admin fee most others did not (and have a term in the contract saying if Buyer cancels after 10 days they owe both the deposit AND commissions), while www.dvcresalemarket.com did not have an Admin fee, I found them Very pushy about using Magic Title (which happens to be "affiliated" with them and charges about the same amount more in fees as Fidelity's Admin fee), even though if you are paying closing costs you get to pick the escrow and title companies. Moral of the story is check the fees, and read Every contract line before you sign it.

Your "offer" is not final until both parties sign the contract, if you've not reviewed the full contract, you've not agreed to specific terms. While it's best to sort out terms before your offer (ie: a different title company or different amount of upfront deposit - 10% is common but not a "set" term unless that's what you agree to), don't be bullied into terms just because they are in the pre-printed contract you are sent.

 

[MsChristy12]

That's where I put in my SSR offer. I really like the automation of the site and having a minimum price set so I don't waste my/their time with back and forth through the broker. I also like that the site lists out the date and times of things completed and where I am in the process.

That's great to know about their automated system! So much time saving and a lot more efficient!

 

[MsChristy12]

Closing costs vary - as do the "contracts" you sign - with different brokers. For example, last I checked, www.fidelityrealestate.com added a admin fee most others did not (and have a term in the contract saying if Buyer cancels after 10 days they owe both the deposit AND commissions), while www.dvcresalemarket.com did not have an Admin fee, I found them Very pushy about using Magic Title (which happens to be "affiliated" with them and charges about the same amount more in fees as Fidelity's Admin fee), even though if you are paying closing costs you get to pick the escrow and title companies. Moral of the story is check the fees, and read Every contract line before you sign it.

Your "offer" is not final until both parties sign the contract, if you've not reviewed the full contract, you've not agreed to specific terms. While it's best to sort out terms before your offer (ie: a different title company or different amount of upfront deposit - 10% is common but not a "set" term unless that's what you agree to), don't be bullied into terms just because they are in the pre-printed contract you are sent.

Totally agree! I noticed www.fidelityrealestate.com listings don't disclose the closing costs and fees up front, but if you inquire about them on any listings before you even make an offer, they would be happy to break it down for you. I did that, and the agent was very honest and spelled out the closing costs and the admin fee, instead of just "closing costs" that includes whatever fees other brokers might tagged on as one.

 

[HyperspaceMountainPilot]

FYI, in case anyone else was curious, I raised my bid enough to get past the "seller won't consider it" on DVC Sales, suddenly notified my bid was accepted, had a brief moment of bidders remorse (it was a pretty good price but on a stripped contract, making it perhaps average?), but figured I would be happy to have a bid accepted and move on with ROFR even if I paid 2-5% more than the best possible price...only to get a "Your offer is declined" email a few minutes later, not even a counter. Oh well, the hunt goes on.

 

[AstroBlasters]

FYI, in case anyone else was curious, I raised my bid enough to get past the "seller won't consider it" on DVC Sales, suddenly notified my bid was accepted, had a brief moment of bidders remorse (it was a pretty good price but on a stripped contract, making it perhaps average?), but figured I would be happy to have a bid accepted and move on with ROFR even if I paid 2-5% more than the best possible price...only to get a "Your offer is declined" email a few minutes later, not even a counter. Oh well, the hunt goes on.

Ouch. So your “bid was accepted”, but your “offer was declined”. Why set a floor for an offer and not even provide a counter?

The contract will probably sit for a while with that type of seller.

 

[HyperspaceMountainPilot]

Ouch. So your “bid was accepted”, but your “offer was declined”. Why set a floor for an offer and not even provide a counter?

The contract will probably sit for a while with that type of seller.

Yeah, it was a real emotional rollercoaster and it was even shorter than Tron, if you count the load/unload time.

I’ve seen a couple different broker sites suggest that median for PVB and GFV is around 150, and I am not seeing any counters anywhere close to that so far…even on stripped contracts. In this case, no points until late 2024 and they didn’t even try to counter.

Hopefully I’ll find a motivated seller, but I’m wondering if the recent rally in the market (or sales of APs?) has people thinking that prices per point will start climbing again?

 

[ocdb8r1]

FYI, in case anyone else was curious, I raised my bid enough to get past the "seller won't consider it" on DVC Sales, suddenly notified my bid was accepted, had a brief moment of bidders remorse (it was a pretty good price but on a stripped contract, making it perhaps average?), but figured I would be happy to have a bid accepted and move on with ROFR even if I paid 2-5% more than the best possible price...only to get a "Your offer is declined" email a few minutes later, not even a counter. Oh well, the hunt goes on.

I had this same exact experience, and as such decided this site was not useful for me. The contract I bid on (now 3 weeks ago) continues to sit unsold.

 

[HyperspaceMountainPilot]

I had this same exact experience, and as such decided this site was not useful for me. The contract I bid on (now 3 weeks ago) continues to sit unsold.

Thanks for sharing your experience, and I’m sorry you had to deal with it also.

Originally my thought was that it would be better to bid on contracts that has been hanging out for a couple months—but maybe those sellers are just content to wait for prices to rise 10-25%?

 

[Sandisw]

Ouch. So your “bid was accepted”, but your “offer was declined”. Why set a floor for an offer and not even provide a counter?

The contract will probably sit for a while with that type of seller.

From my understanding, a number has to be there for the way they set up the online system....it may be way off the asking price for sellers and thus the counter....

When I was bidding $30 to $40 below asking on all those RIV contracts, I didn't get but one counter, because we were way off and the seller was just not able to come down that low....felt that there was no chance to get close those sellers didn't bother.

 

[Sandisw]

Thanks for sharing your experience, and I’m sorry you had to deal with it also.

Originally my thought was that it would be better to bid on contracts that has been hanging out for a couple months—but maybe those sellers are just content to wait for prices to rise 10-25%?

I think there are sellers out there who are in no rush to sell and are fine with waiting out the market or for a buyer who has the same notion of "fair" as they do!

 

[lilsonicfan]

Thanks for sharing your experience, and I’m sorry you had to deal with it also.

Originally my thought was that it would be better to bid on contracts that has been hanging out for a couple months—but maybe those sellers are just content to wait for prices to rise 10-25%?

Conversely, you may find someone who is in fact fairly eager to sell - it’s hard to tell. The sellers who accepted my offer had had their listing out for maybe 6 months? They accepted my first offer! I think they had just reduced it, and were really motivated to get an offer.

 

[TinkAgainU]

had a brief moment of bidders remorse (it was a pretty good price but on a stripped contract, making it perhaps average?), but figured I would be happy to have a bid accepted and move on with ROFR even if I paid 2-5% more than the best possible price...

In sales, we say the perfect price is when the Seller thinks they are getting too little, and the Buyer thinks they are paying too much. I quit looking after my offers were accepted - and focused on planning vacations. Unless you ARE the Unicorn, someone always gets a better deal if you watch long enough lol. Wishing you good luck on a nice contract soon!

 

[sndral]

… www.dvcresalemarket.com did not have an Admin fee, I found them Very pushy about using Magic Title (which happens to be "affiliated" with them and charges about the same amount more in fees as Fidelity's Admin fee), even though if you are paying closing costs you get to pick the escrow and title companies. …
…

Title/escrow companies are supposed to verify that there are no problems with the title & to be an independent third party who holds the buyer‘s funds until the closing documents are executed correctly. I wouldn’t use a title company ‘affiliated’ with a real estate broker who is acting as a dual agent because I prefer a disinterested 3rd party rather than a company ‘affiliated’ w/ the broker who only gets paid if the deal closes.
I realize that RESPA doesn’t apply to DVC resales, but does the broker at least disclose the relationship?