DVC Resale

[vascubaguy]

Didn't get it when we bought, but I'd love to sell my contract through them if I ever sell. I don't need to be bothered with people lowballing me when the contract first gets listed at a fair price in a hot market. Maybe after its sat two weeks without a nibble I'll be willing to entertain offers.

Its one of the many reasons why having extra points and renting out what I don't use doesn't appeal to me. I don't need to hit the delete key on every "I'll pay you $8" email that results.

You shouldn't automatically assume that I was trying to lowball the seller. Your example of asking $8 per point for rental is lowballing... but offering $10-11 when they are asking $14 isn't lowballing, it's asking if they'd match the current going price. That's all I did was suggest an offer that would better reflect the current market.

But anyway, no big deal... I was just a little suprised.

 

[crisi]

And I'd still like to work with that broker if I were selling. The broker is employed by the seller. And if I say "I'm firm on this price" I don't want to be bothered with offers below that until I call and say "it isn't selling, I'm ready to entertain offers."

 

[JimMIA]

I"The seller was firm on their asking terms, but if nothing promising comes up in the next few days I'll gladly submit your offer and see what the seller says."

I'm not positive about this, but I thought a realtor had an obligation to present any and all legitimate offers to the seller. The seller is certainly under no obligation to take less than they think is fair, but I think that is usually the seller's prerogative, not the realtor's.

 

[vascubaguy]

I'm not positive about this, but I thought a realtor had an obligation to present any and all legitimate offers to the seller. The seller is certainly under no obligation to take less than they think is fair, but I think that is usually the seller's prerogative, not the realtor's.

That's what I thought too, which is why I was a little suprised. I understand Crisi's point too of not wanting to deal with "lowball" offers, but then again what if a decent offer was made and not presented. Then the seller loses a potential buyer. I realize the timeshare resale market is a little different, but I know in the "normal" real estate market, the agent is required to present the offer and then the seller either refuses the offer or counter-offers.

 

[Disney Doll]

IHMO you treat people straight up they respond in kind.

Our experiance with a broker was fine and we have more Points as a result.

Going in with the Use Car mind set is a sure way to project that you want to be treated like a tire kicking used car buyer who is wasting the brokers time.

We, too, had a very positive experience buying our 2nd contract as a resale through Pat Spell at the Timeshare Store.

Then again, my husband is a realtor, and we treated the transaction in a professional manner and therefore were returned in kind.

I am really starting to hate all the painting with a broad brush that folks seem to be doing on the DIS lately.

 

[Disney Doll]

I won't mention which resale agency I was talking to when I got this response, but I just wonder how many people have discussed an offer with an agent and then have them say the following:

"The seller was firm on their asking terms, but if nothing promising comes up in the next few days I'll gladly submit your offer and see what the seller says."

Just left me with a bad impression. Could at least submit the offer and see if the seller counter offers or just flat out says no.

I am not sure what the rules are for Florida, but in CT, where we live, the realtor must present any and all offers, no matter what the realtor thinks about the offer.

I also think that since I am the seller, I would prefer to be made aware of every offer, if for no other reason than to perhaps come to the conclusion that if 75 people have offered me $80/point for my BCV contract that I have up for sale for $95/point, then maybe my price is too high. If the realtor keeps telling people no, then I'll have no sense of that, now will I?

If the realtor's obligation to present any and all offers is the case in Florida as well, then I would probably speak to the manager of that realtor and inform him/her of the employee's practices. My DH manages a real estate office manager up her in CT, and, being a man of integrity, if he had an employee that was operating like that, he'd want to know.

 

[ColoradoBelle1]

For sure in Colorado, a Realtor MUST present all offers. So I would be forced to at least 'wonder' about that particular salesperson.

U bought resale through one of the top 3 brokers. I actually offered MORE than the asking price BUT refused to pay 2005 maintenance fees. My offer was $82.50 but then reducing by MF it was $76.50...and I think that is the breaking off point for ROFR. And my broker was very upfront about that...In fact, she suggested $82.50 instead of the $82 I was going to offer. (I think the points were listed at $78, can't remember, maybe $80. That was in April.
I'd say to try $83 but have the seller pay MF and you pay closing.
Good Luck!

 

[bongo59]

having bought 2 contracts from DVC and 8 from resellers i think if you can afford the money a resale is alwys the way to go. The ROFR is a moving target based upon local market conditions.....I have a family memeber who works in the management for DVC............the ROFR is differnet for each resort and changes every week or two based upon lists and point needs........right now like most other real estate DVC is hot................wait a yr or two and it will come down....................i bought an SSR resale 6 months ago 370 points for 73 dollars a point with 300 banked points................considering that it is selling at DVC for 92 bucks .................you can see the resale made alot of sense..............i have always made money on every resale.............that is if i chose to sell it.............which we have never done.................

 

[No1HawkFan]

I won't mention which resale agency I was talking to when I got this response, but I just wonder how many people have discussed an offer with an agent and then have them say the following:

"The seller was firm on their asking terms, but if nothing promising comes up in the next few days I'll gladly submit your offer and see what the seller says."

Just left me with a bad impression. Could at least submit the offer and see if the seller counter offers or just flat out says no.

Did you actually present an offer on a property? To present an offer the associate should have gathered all the information you would have wanted on the deed and went over a deposit amount with you. They may have even collected the information over the phone regarding payment either with a credit card number or check by phone. You said you said the associate said "gladly submit your offer" and I just want to confirm that you made an offer. If you did make an offer, do you see that the property is still available?

If you did make an offer and you see that the property is still available then I would contact the broker immediately. Also maybe the associate was trying to help you as a buyer by letting you know the seller was firm at their price. Maybe an offer had already been presented and the seller said I am firm at my price. I just find it hard to believe that an associate is not going to make an offer for you. I assume that person gets paid when they sell a property and their goal is to reach an agreement between the buyer and the seller. If they never contact the seller, then they will not be able to put buyer and seller together.

 

[vascubaguy]

Did you actually present an offer on a property? To present an offer the associate should have gathered all the information you would have wanted on the deed and went over a deposit amount with you. They may have even collected the information over the phone regarding payment either with a credit card number or check by phone. You said you said the associate said "gladly submit your offer" and I just want to confirm that you made an offer. If you did make an offer, do you see that the property is still available?

If you did make an offer and you see that the property is still available then I would contact the broker immediately. Also maybe the associate was trying to help you as a buyer by letting you know the seller was firm at their price. Maybe an offer had already been presented and the seller said I am firm at my price. I just find it hard to believe that an associate is not going to make an offer for you. I assume that person gets paid when they sell a property and their goal is to reach an agreement between the buyer and the seller. If they never contact the seller, then they will not be able to put buyer and seller together.

No, we did not write up a formal offer because they were waiting to see if a full-price offer was going to be made. I was notified of the contract coming up and the asking price, terms, etc. I stated that I thought it was overpriced (end price was going to be almost $97 per point-and it wasn't BCV or BWV). I mentioned that I would be willing to offer full asking price on the points but the seller pay closing. That is when I was told that they believed the seller to be firm on their listing but to give it a few days and if no full-price offers are made they would submit my offer. I believe the property has been sold or at least in a pending state at this point, though I'm not sure if it was at full price and the same terms.

As for why it wouldn't be submitted, I can't answer that. The agent might know for a fact that the seller won't accept the offer (so why go thru all that extra paperwork), but I'm just used to the real estate market where that decision would be left to the seller.

Let me just state though that I still think resale is the way to go for those that can afford it, or at least come up with the financing arrangements. I have a contract waiting for ROFR waiver which I hope to hear about pretty soon, but want more!!! (which is why I'm still watching the resale listings).

 

[No1HawkFan]

No, we did not write up a formal offer because they were waiting to see if a full-price offer was going to be made. I was notified of the contract coming up and the asking price, terms, etc. I stated that I thought it was overpriced (end price was going to be almost $97 per point-and it wasn't BCV or BWV). I mentioned that I would be willing to offer full asking price on the points but the seller pay closing. That is when I was told that they believed the seller to be firm on their listing but to give it a few days and if no full-price offers are made they would submit my offer. I believe the property has been sold or at least in a pending state at this point, though I'm not sure if it was at full price and the same terms.

As for why it wouldn't be submitted, I can't answer that. The agent might know for a fact that the seller won't accept the offer (so why go thru all that extra paperwork), but I'm just used to the real estate market where that decision would be left to the seller.

Let me just state though that I still think resale is the way to go for those that can afford it, or at least come up with the financing arrangements. I have a contract waiting for ROFR waiver which I hope to hear about pretty soon, but want more!!! (which is why I'm still watching the resale listings).

Don't let the associate make the decision for the seller. Tell the associate that you want to make the offer anyway and provide them with they information they want. If they are not willing to make the offer then tell them you want to speak to the broker(assuming the associate and broker are not one in the same). Also if the associate called you about the listing then I would assume it was a brand new listing. In that case I can understand a seller not wanting to jump on the first offer. I found last year that when looking for certain properties that if you do not jump on them when notified they might be sold even if you only take 5 minutes to think about it. I also realized they can't "hold" properties for anybody while you think because that is not fair to the seller. Also if you notice the property is in a pending state you may want to watch it carefully should the deal fall through or contact your associate and let them know to call you should it come back on the market.

Good Luck with ROFR and trying to find more points!!

 

[jekjones1558]

Also if you notice the property is in a pending state you may want to watch it carefully should the deal fall through or contact your associate and let them know to call you should it come back on the market.

Great advice. I noticed that a good BWV resale was listed as "Sale Pending" for quite a while. I called TTS and said that I was interested if the deal did not go through. They checked immediately and determined that it would be available. My lucky day! Good luck. Keep watching.