DVC Resale Contract Advice Needed

[_auroraborealis_]

Honestly, "Monera closing in 20 days" is just getting hysterical for no reason.

This is real estate. If the deal is that great, neither the broker nor the seller is going to want or need to mess around with special clauses around the sale. They can find a seller to play ball. If the deal is really good, it's a motivated seller who really wants rid of the contract. They don't want to take risks with someone who clearly does not understand the process.

 

[luvdisneyland]

You seem to have a biased opinion here. Any by that I mean biased on the agent's side. If the broker has a duty to complete the sale of a contract seems -- well that does seem contrary to the fact that the agent refuses to bring my request to the seller and has again said sign or I will tell seller you have withdrawn. Finally -- all of these hard working real estate agents out here getting nothing on deals that do not close are getting shafted I guess. My opinion is that an agent should not profit from a deal going south -- again it incentivizes them to seek that result. While I am sure most people are ethical it is still problematic and in no way benefits sellers interests. Conjecture and wild accusations indeed -- I have posted the conversation. Are you related to this agent maybe?

I’m sure they aren’t, and just like with they agency, you are getting pissy when you don’t get your way. You say you came here for advice, and you have a ton of EXPERIENCED buyers and sellers telling you how it is. You don’t like the answers so what do you do? Accuse them of working for the agency. You are really not a good person, I’m glad I’m not having to do business with you.

 

[kcall13]

Perhaps renting DVC points for the wedding may solve the short term problem

I understood I would be active by December and could book in January -- 11 months out so I was good to go? I do have a reservation on deposit at Riviera that I am not cancelling until I have a firm alternate booking. I have never tried to rent points and am unsure how that works -- what the risks are and if I would be able to get my dates booked. Any advice?

 

[luvdisneyland]

Could someone explain how the "10 day to rescind" aspect of Florida law fits in here? (I'm thinking I must not understand correctly as I thought one always could rescind the contract if it is done within 10 days of signing the purchase agreement and if rescinded, the deposit + any moneys paid would be refunded. If so, maybe this discussion is a moot point. Seller could just back out if financing doesn't come through). Thanks.

You are correct, the buyer has 10 days after signing the contract to back out for ANY reason, it protects the buyer and not the seller.

 

[CanadaDisney05]

I understood I would be active by December and could book in January -- 11 months out so I was good to go? I do have a reservation on deposit at Riviera that I am not cancelling until I have a firm alternate booking. I have never tried to rent points and am unsure how that works -- what the risks are and if I would be able to get my dates booked. Any advice?

You can rent through a broker for about $17 PP. Usually much cheaper than a cash reservation. Cons are that you pay all of the money up front, and you cannot cancel. You don't have control of the reservation. The difference in real cost between buying vs renting exists, but probably minimal enough to make it worth it vs rushing into a major purchase that you are not ready for.

 

[kcall13]

I’m sure they aren’t, and just like with they agency, you are getting pissy when you don’t get your way. You say you came here for advice, and you have a ton of EXPERIENCED buyers and sellers telling you how it is. You don’t like the answers so what do you do? Accuse them of working for the agency. You are really not a good person, I’m glad I’m not having to do business with you.

Not true I appreciate the insight greatly but the character assassinations not so much. This is a large purchase and it is important to me so I am reasonably concerned when an agent refuses to take my request to a seller and then tells me to just sign and not comply with the terms. I only have 7-days for them to receive my deposit which I must over night so I have 5 days to get my funding in order and not 2. I just don't feel comfortable with this type of deal where I place myself at potential risk and have no real experience to accurately gauge what my true risk is. Hence the reason I asked for the funding contingency to be listed accurately. If seller refuses to move forward and prefers to wait on another offer that should be his choice not Agents.

 

[Networth]

You need to do a lot more research on DVC in general if you have no idea about how booking works. I would walk away if I were you.

 

[Minniesgal]

Securing funding. Don't you have all the funds up front. I'd question why are you buying something that you don't have the money up front. Time to re think.

I have to say as a seller I would not acceot any offer with a funding contingency and would only accept offers from people with funds in place.

 

[ELMC]

Perhaps renting DVC points for the wedding may solve the short term problem

Normally a good suggestion. But if the OP is acting this way over a standard purchase agreement, I do not think that a rental contract with significantly more risk and opportunity for something to go wrong is a good idea.

 

[kcall13]

You can rent through a broker for about $17 PP. Usually much cheaper than a cash reservation. Cons are that you pay all of the money up front, and you cannot cancel. You don't have control of the reservation. The difference in real cost between buying vs renting exists, but probably minimal enough to make it worth it vs rushing into a major purchase that you are not ready for.

Thank you. Do you know what would happen if say a renter decided they wanted to use points after I reserved? Does that ever happen? Also, how hard is it to find a rental that way?

 

[kcall13]

Normally a good suggestion. But if the OP is acting this way over a standard purchase agreement, I do not think that a rental contract with significantly more risk and opportunity for something to go wrong is a good idea.

Yes I do not like the "opportunity for something to go wrong" part at all! Holy anxiety

 

[Networth]

Thank you. Do you know what would happen if say a renter decided they wanted to use points after I reserved? Does that ever happen? Also, how hard is it to find a rental that way?

Yes, the member always controls the reservation so in theory they could take your money and cancel the booking. Does it happen often? No most people are not that scummy. Can it happen? Yes.

It would cost you time and money to sue assuming you both signed a contract.

 

[CanadaDisney05]

Thank you. Do you know what would happen if say a renter decided they wanted to use points after I reserved? Does that ever happen? Also, how hard is it to find a rental that way?

Not 100% sure, but I'm pretty sure both of you sign the contract upfront so in theory they cannot back out either. But if were talking about all the possibilities, I guess they can ignore the contract, cancel the booking, and go on the trip themselves. You are stuck with a signed contract but no booking. You could sue them to receive some compensation for your hardship....

 

[ELMC]

Thank you. Do you know what would happen if say a renter decided they wanted to use points after I reserved? Does that ever happen? Also, how hard is it to find a rental that way?

It happens, but it is very rare. While there is a contract in place for rental situations, it is still a higher risk than your standard DVC purchase. The strength of the system is trust, and it does not sound like that is going to be enough to keep you comfortable.

Yes I do not like the "opportunity for something to go wrong" part at all! Holy anxiety

I would STRONGLY recommend AGAINST you renting points for a reservation. Even if it works out, which is highly likely, it's not going to be a fun ride for you.

 

[luvdisneyland]

Not true I appreciate the insight greatly but the character assassinations not so much. This is a large purchase and it is important to me so I am reasonably concerned when an agent refuses to take my request to a seller and then tells me to just sign and not comply with the terms. I only have 7-days for them to receive my deposit which I must over night so I have 5 days to get my funding in order and not 2. I just don't feel comfortable with this type of deal where I place myself at potential risk and have no real experience to accurately gauge what my true risk is. Hence the reason I asked for the funding contingency to be listed accurately. If seller refuses to move forward and prefers to wait on another offer that should be his choice not Agents.

Do you see the irony here? You don’t like the “character assassination”. That’s all you’ve been doing. You’re accusing the broker even though you are wrong ( but still seem hell bent on stating your case), then you accuse another poster for working for the brokerage. Your accusations and made up scenarios are outrageous. I’m shocked reading this thread.

 

[luvdisneyland]

It happens, but it is very rare. While there is a contract in place for rental situations, it is still a higher risk than your standard DVC purchase. The strength of the system is trust, and it does not sound like that is going to be enough to keep you comfortable.

I would STRONGLY recommend AGAINST you renting points for a reservation. Even if it works out, which is highly likely, it's not going to be a fun ride for you.

I’ve never seen such a paranoid person, the glass is half empty here. It’s great to use due dillagence, but the distrust this person has is astonishing.

 

[cvjw]

The poor sellers of this contract. They likely have no idea of all the drama going on behind the scenes. I have sold 3 dvc contracts so far. No way would I accept a funding continuance. If you have trouble getting funding, maybe dvc isn’t for you.

 

[Minniesgal]

Thank you. Do you know what would happen if say a renter decided they wanted to use points after I reserved? Does that ever happen? Also, how hard is it to find a rental that way?

Oh my. you are far too risk adverse. If you are not open to any risk at all the best for you is to book a standard hotels room, pay rack rate and have the right to cancel.

How do you cope with planning a wedding and the risk your partners doesn't turn up?

Enough trouble in the world without seeing what ifs everywhere.

 

[luvdisneyland]

The poor sellers of this contract. They likely have no idea of all the drama going on behind the scenes. I have sold 3 dvc contracts so far. No way would I accept a funding continuance. If you have trouble getting funding, maybe dvc isn’t for you.

Right? And the poor agent, I can only imagine

 

[luvdisneyland]

Oh my. you are far too risk adverse. If you are not open to any risk at all the best for you is to book a standard hotels room, pay rack rate and have the right to cancel.

How do you cope with planning a wedding and the risk your partners doesn't turn up?

Enough trouble in the world without seeing what ifs everywhere.

This! ⬆