Dvc resale

[Jerry5788]

Do DVC Resales every happen on the private market (no broker) or is it only done through the real estate guys

 

[chalee94]

DVC resales almost always involve a broker, due to Disney's Right of First Refusal requirement and the relative complexity of a real estate contract.

It is possible to do it yourself without a broker but there is no cost savings for the buyer (due to ROFR) and you would give up some protections that the broker provides.

 

[Jerry5788]

That makes sense. Thanks!

 

[summabreeze85]

I've bought and sold a few private dvc contracts. I am actually trying to sell some now. I prefer to sell them privately TO SAVE the buyer money. I don't understand why people say they can't save. I pass on what i would spend on broker commissions as a savings to the buyer. Sometimes Disney takes it but more times than not it STILL passes ROFR. When I buy something I am all about getting the best deal and you can get a better deal if the broker is not involved. The title company handles everything so it's a secure transaction.

 

[beercity]

I've bought and sold a few private dvc contracts. I am actually trying to sell some now. I prefer to sell them privately TO SAVE the buyer money. I don't understand why people say they can't save. I pass on what i would spend on broker commissions as a savings to the buyer. Sometimes Disney takes it but more times than not it STILL passes ROFR. When I buy something I am all about getting the best deal and you can get a better deal if the broker is not involved. The title company handles everything so it's a secure transaction.

Based on my recent experience, it seems like the broker just connects buyer and seller, and then passes off to the title/transfer company. I agree that it could make sense to cut out the broker. Given the several active DVC communities out there, it would not be horribly hard to find a buyer, especially if you are willing to wait.

 

[Renee H]

Based on my recent experience, it seems like the broker just connects buyer and seller, and then passes off to the title/transfer company. I agree that it could make sense to cut out the broker. Given the several active DVC communities out there, it would not be horribly hard to find a buyer, especially if you are willing to wait.

I have looked for fsbo dvc and come up short. Have you seen sites?

 

[CarolMN]

I've bought and sold a few private dvc contracts. I am actually trying to sell some now. I prefer to sell them privately TO SAVE the buyer money. I don't understand why people say they can't save. I pass on what i would spend on broker commissions as a savings to the buyer. Sometimes Disney takes it but more times than not it STILL passes ROFR. When I buy something I am all about getting the best deal and you can get a better deal if the broker is not involved. The title company handles everything so it's a secure transaction.

I think the majority of private sales are between family and/or friends. It would surprise me if very many of the other private sales pass on the savings to the buyer, but it's good to hear some do.

 

[Dean]

Private sales are not that uncommon but they are not overly common either. There's no reason not to as a seller or buyer. All a broker does is bring the 2 together.

 

[MTOB88]

When you use a broker who submits to Disney for rofr? The broker or the title company? If it is always the title company it Would make me feel better about buying privately.

 

[Firebird060]

The title company because they have do it as part of proving the title is clear of any leans, holds or other legal issues. They are the one who submit for the ROFR

 

[Best Aunt]

The title company because they have do it as part of proving the title is clear of any leans, holds or other legal issues. They are the one who submit for the ROFR

I don't know that you're wrong, but in my case it was the broker who told me the contract had been submitted to Disney for ROFR and passed ROFR. I didn't hear from the title company until after that. I suppose it's possible that the title company submitted it but the broker was the one who told me about it.

 

[KAT4DISNEY]

I don't know that you're wrong, but in my case it was the broker who told me the contract had been submitted to Disney for ROFR and passed ROFR. I didn't hear from the title company until after that. I suppose it's possible that the title company submitted it but the broker was the one who told me about it.

I always thought it was the broker too.

When doing a FSBO the owner can submit the contract for ROFR. The title company will have to have the ROFR waiver to close but I don't think it necessarily has to be submitted by the title company.

 

[summabreeze85]

I used Timeshare Title & More to handle my transactions and the owner, Nancy, always sent it to ROFR for me.
I know ROFR can be done yourself. The entire transaction can be done yourself without the use of a title company but for a few hundred bucks I think the title company is well worth it. Especially if the buyer is not friends or family. They handle all communication with disney and keep the funds in escrow.
Nancy made it really easy. I was sad to see her and her husband retire last year. Most of the title companies I've since spoken with, who handle big broker business, don't want to be bothered with individual sales.

 

[chalee94]

I've bought and sold a few private dvc contracts. I am actually trying to sell some now. I prefer to sell them privately TO SAVE the buyer money.

What are the penalties in your contracts if you fail to sign the paperwork in a timely manner? Or if you use points that were stated to be part of the contract for sale?

There are several scenarios where an experienced broker can protect a newbie buyer. FSBO is workable when an experienced buyer understands the transactional risks and/or there is a close relationship involved - but for most, using a broker is a better bet IMO.

 

[summabreeze85]

What are the penalties in your contracts if you fail to sign the paperwork in a timely manner? Or if you use points that were stated to be part of the contract for sale?

There are several scenarios where an experienced broker can protect a newbie buyer. FSBO is workable when an experienced buyer understands the transactional risks and/or there is a close relationship involved - but for most, using a broker is a better bet IMO.

The title company handles all of this. Since the title company holds the funds they can return the deposit and or final payment if paperwork is not signed within the time frame stated in the contract.
I just bought a VGF last year with the big broker who has the fire sales cheap points and terrible service. Contract signed 6-7-17. Closing papers delivered 7-21. Seller took FOREVER to return docs and it FINALLY closed 11-23. I had to get on their case because i had a whole years worth of points i needed loaded into my account within 7 days or i was going to lose them. But you know who I spoke to and who handled it? The title company. Not the broker. I actually think it would've been easier had it been a private sale. I would've had the sellers contact info and been bugging them everyday in August September and October to turn in their paperwork. The broker did absolutely nothing for me.
As for misstated points, that is what the estoppel is for. The title company receives the estoppel and verifies everything is correct. Disney doesn't let you move forward is there is a discrepancy. I once had cancelled a reservation and had points ADDED (in holding) and they needed an addendum once it was discovered.
Of course after the estoppel someone could use all the points before it's transferred, but i'm not sure what the broker would do in that situation. probably just advise you to speak to a lawyer.

 

[Jerry5788]

Thanks for all the information! If anyone sees an AKV from owner please let me know!