Ever consider buying from a private party? Pros, cons?

[disneydenisel]

I'm wondering about buying DVC points from a private party. Is this the same as buying through a resale company without the extra cost? Is this a way to get points at a lower cost per point, or will Disney use its ROFR? If ROFR is at $85/pt. and a private party is selling for $72-76/pt, will the sale not pass? Doesn't a reseller typically take 10% for commission, so that would in theory take the per point price down from $85 to $73 (for the seller)?

If anyone has any experience buying through a private party, or advice about the pros and cons, I would appreciate it. Thanks!

 

[DebbieB]

I don't think it matters if there is a realtor involved when it comes to ROFR. If you submit a contract for $73 for a WDW resort, DVC will most likely take it back.

 

[RobDoc]

Because of ROFR, the seller can gain from a private sale, but the buyer will have no advantage since the savings won't be passed along to the buyer. As long as ROFR is being exercised by DVC, I'd recommend that buyers go thru a resale broker where all of the details will be handled in the sale.

At this time, there are no advantages for the buyer with a private sale.

 

[JandD Mom]

FWIW, we purchased directly from a seller. It just so happened be stumbled upon someone who was selling exactly waht we wanted. At the time, none of the brokers had what we were looking for. I would not hesitate to use a broker in the future since buying direct is extra work.

Our transaction ended up working out very well, in part because we used a title company that really knows DVC, and also because we had legal help available to us to get contracts done, etc.

If you decide you want to purchase direct, I suggest you use one of the title companies that know DVC. I would strongly suggest you do not use one of the bargain basement title companies you see on the TUG boards. The extra money will be well-spent.

 

[calypso*a*go-go]

We bought through a private party without any problems...however, we did not gain anything by doing so. I didn't completely understand the ROFR process and couldn't believe I was paying the same price without a broker involved (I feel a little silly now!). If we add on in the future, I wouldn't hesitate to buy from a resale company as I know the price per point is controlled by Disney -- not whether or not there is a commission involved.

Also, I'm sure many people on this board can tell you about the great deal they thought they found by negotiating with a private party, only to have it snatched away through ROFR...it can be extremely disappointing.

 

[Seth Nock]

If you use a good title company, there is no disadvantage buying from a private party. If you are looking for a Wilderness Resort or Beach Club unit, currently there are not too many available through brokers and you may not be able to find the point level you want. Private sellers may be your best option. For some of the other resorts, there may be no advantage for the buyer (just the seller). If you need a closing company, I would recommend: Nancy J. Spohn
Timeshare Title & More LLC
3956 Town Center Blvd. #131
Orlando, FL 32837
Telephone: (407) 855-5343
Fax: (407) 855-4772
She does many Disney transactions.

 

[T.E. Yeary]

We recommend Timeshare Closing Services. They have the most DVC Resale experience with over 5,000 transactions as of this date.

Their website is: www.timeshareclosingservices.com

Tom

 

[JimMIA]

IF you thoroughly understand the nature of DVC contracts...and IF you thoroughly understand the ROFR process...and IF you are certain your price will clear ROFR...and IF the contract you're buying is exactly what you want...I'm sure you will be fine buying direct from a private party, provided you use a reputable and professional closing agent.

However...Calypso's comment is also well taken -- you, as a buyer, gain nothing from doing that. The seller saves 10-12%, but you save nothing.

If any of the above IF's (and they are BIG IF's) cause you to wonder, you would be better off with an experienced and reputable broker who deals every day with DVC contracts.

It's been said many times here, the most important number in any contract is not the lowest price, but the price which will clear ROFR. If you don't get by ROFR, not one thing about that contract matters...because it's Disney's contract, not yours.

 

[disneydenisel]

Thanks for the sound advice. I'll steer clear of the private sale at this time and look for something else from a reputable reseller! Now just to decide between VWL or BCV....!

 

[calypso*a*go-go]

You really just need to find the contract that's right for you and buy it from whoever is selling it...just realize that the price per point is going to remain in the same range regardless of where, or who, you buy it from. Good luck!!!

 

[drakethib]

I'm wondering about buying DVC points from a private party. Is this the same as buying through a resale company without the extra cost? Is this a way to get points at a lower cost per point, or will Disney use its ROFR? If ROFR is at $85/pt. and a private party is selling for $72-76/pt, will the sale not pass? Doesn't a reseller typically take 10% for commission, so that would in theory take the per point price down from $85 to $73 (for the seller)?

If anyone has any experience buying through a private party, or advice about the pros and cons, I would appreciate it. Thanks!

My 2 cents is I would eliminate as possible and buy through TTS if you are looking at resale.

We used them and they handled all for us and we were happy at the end.

 

[Disney Fanatic]

We did buy privately and everything went off without a hitch.

I think we received an amazing deal!!

We also worked with Timeshare Closing Services and they were very professional and knowledgeable. but the right deal was always "sale pending"

We also prefered to book with The TImeshare Store but the right deal was always "sale pending" I have to give Jason the benefit of the doubt because he did call us a couple of times when decent offers came in but we just seemed to miss the great ones.

I do like the TSS but found this deal privately and couldn't pass it up.

 

[disneydenisel]

It's hard to find what you want out there, they go so fast. I just saw a new listing on the Timeshare Store website and it is already sale pending, but it was never there before because I look many times during the day. I suppose that they have a long waiting list of people looking for specific contracts, and as soon as they get one in, they go down their list. Then they post it on their website as "sale pending.