Has anyone ever sold their DVC?

[marathonmommy]

Just curious . . . not sure if I'm seriously considering it or not. I realize in this economy, I won't get "top dollar" if I can sell at all. But, if I do decide to sell, what is involved? Do you know what the commission is from TTS, and does the seller have to pay this?

 

[DVC-Don]

We sold a small contract a few years ago (70 points) TTS charged us a 10% commission. We priced the big 3 resellers and they were all 10%. The seller pays the commission.

 

[RobDoc]

We just sold a contract thru TTS and it was a pretty easy transaction. The commision is 10% and is paid by the seller unless negotiated differently . They can advise about pricing if you want assistance there. We sold a 230 point OKW contract and got an offer os $71 per point which got thru ROFR pretty quickly. The buyer is paying closing costs and all 2009 fees. All 2009 points are intact and there were 145 points from the 08 Use Year remaining which can still be banked.

You can easily contact them thru their website - www.dvc-resales.com . We handled everything via email and then returned the notarized closing documents by mail (the documents were emailed to us in pdf format to print off).

Good luck with your decision!

 

[marathonmommy]

We sold a small contract a few years ago (70 points) TTS charged us a 10% commission. We priced the big 3 resellers and they were all 10%. The seller pays the commission.

Who are the big 3 resellers? I hope I'm not being impulsive, but I think I just may do this. Questions I should ask? Any advice is greatly appreciated!

 

[Buckeye Fan]

We just sold a contract thru TTS...

Doc, how long was it on the market? Also, did you extend the contract? For the price, I'm assuming not, but thought I would ask.

To the OP, yes. I have seriously considered selling my points, but it's not because I'm tired of or finished with DVC. It's because I hate our UY. We usually end up banking some number of points, and we have an Aug UY. Many times, we want to travel in early Aug (DH is a teacher), and we can't because we'll lose the points if we don't use them by the end of July. You live and you learn!

 

[Deb & Bill]

Smaller contracts sell faster. Cheaper contracts sell faster. Contracts with banked points sell faster than stripped contracts.

We sold two in a matter of days. Our third has been on the market for a long time. We had two offers, both purchasers backed out after ROFR. So we got half the money they put down.

Commission can be as high as 12% or a low as 9%.

 

[silmarg]

I know this sounds nuts, but I've seen some pretty attractive (from a buyers perspective) resale prices of on DVC of late.

I am wondering has anyone bought on resale used up a years worth of points and then tried re-reselling for a few bucks more than they paid (to more or less cover the selling commission)?

With Florida real estate dropping so hard I am wondering if now is the time to just buy a condo outright or just buy a DVC resale and not bother with the hassles of real estate.

 

[silmarg]

Smaller contracts sell faster.

If you but a big contract from Disney, can you later sell it in smaller chunks?

 

[Sandisw]

If you but a big contract from Disney, can you later sell it in smaller chunks?

No, a contract can not be broken up. Many people who buy a lot of points directly from Disney have them split into smaller contracts for this reason.

If you are a new member buying, your first contract has to meet the minimum requirements--right now 160 at BLT, but only 100 at AKV or SSR--but points after that can be whatever you want.

For example, if someone wanted to buy 300 points from Disney, at AKV, they could do 100, 100, 50, and 50. It would allow flexibility later on for selling purposes.

Many members, when they add on through Disney do exactly this!

 

[RobDoc]

Doc, how long was it on the market? Also, did you extend the contract? For the price, I'm assuming not, but thought I would ask.

...

We listed the contract in the fall and it took about 3 months to get the offer. Everything has gone very quickly after that and closing was 2 weeks ago. No, we had not extended the contract.

We sold it for considerably more than it's purchase price!

 

[silmarg]

We listed the contract in the fall and it took about 3 months to get the offer. Everything has gone very quickly after that and closing was 2 weeks ago. No, we had not extended the contract.

We sold it for considerably more than it's purchase price!

Doc,

Am I reading between the lines correctly here.... their can be money made flipping DVCs (and maybe score a free hotel rooms for one stay to boot).

-Sil

 

[CarolA]

Doc,

Am I reading between the lines correctly here.... their can be money made flipping DVCs (and maybe score a free hotel rooms for one stay to boot).

-Sil

I think you are reading to much into this....

I have some contracts that I could make a good amount of money on. My OKW for example, but I have only had it for about 15 years. I don't think that qualifies as "flipping" LOL! (I think I paid in the low 50s so at the current market that's around 20 a point... )

My BCV is another one I could make money on. Had it since that one opened.... Once again not a quick return.

I sold a HH at a loss by the time you paid the commission. (And it was a small contract)

I sold a small OKW at a profit, but not a huge one.

 

[RobDoc]

Doc,

Am I reading between the lines correctly here.... their can be money made flipping DVCs (and maybe score a free hotel rooms for one stay to boot).

-Sil

No - I don't think there is any real money to be made flipping DVC contracts. We owned our contract (purchased via resale thru TTS) for over 10 years before selling it. We did sell it for about 40% more than we paid and we also had 10 years of use of the points - so our vacation costs using those points was truly minimal ... BUT ... trying to flip a contract purchased within a couple of years is unlikely to see much profit - if any. So, I would not advise purchasing a DVC contract with the expectation of making a profit. This will be even more meaningful as we continue to move closer to 2042 when many of these contracts will expire. Even if DVC decides to extend other resorts, not all owners will accept the extension and the resale value of these contracts will eventually diminish to zero.

 

[amyup]

Sorry to jump in here with a question. If I remember correctly you can list your contract with more than 1 reseller. Is this still the case?

Thanks!

 

[silmarg]

No - I don't think there is any real money to be made flipping DVC contracts. We owned our contract (purchased via resale thru TTS) for over 10 years before selling it. We did sell it for about 40% more than we paid and we also had 10 years of use of the points - so our vacation costs using those points was truly minimal ... BUT ... trying to flip a contract purchased within a couple of years is unlikely to see much profit - if any. So, I would not advise purchasing a DVC contract with the expectation of making a profit. This will be even more meaningful as we continue to move closer to 2042 when many of these contracts will expire. Even if DVC decides to extend other resorts, not all owners will accept the extension and the resale value of these contracts will eventually diminish to zero.

That is fantastic!

 

[cheezNE1]

Smaller contracts sell faster. Cheaper contracts sell faster. Contracts with banked points sell faster than stripped contracts.

We sold two in a matter of days. Our third has been on the market for a long time. We had two offers, both purchasers backed out after ROFR. So we got half the money they put down.

Commission can be as high as 12% or a low as 9%.

You still get to keep deposit if buyer back out ? Is that only after ROFR ?

 

[Kid_@_50]

Has anyone ever sold their timeshare without using a broker? If so how did you handle the closing.

If I was a broker then I would own my own closing company. Any potential savings on the commission might be eaten by higher than normal closing costs.

 

[JimC]

I know this sounds nuts, but I've seen some pretty attractive (from a buyers perspective) resale prices of on DVC of late.

I am wondering has anyone bought on resale used up a years worth of points and then tried re-reselling for a few bucks more than they paid (to more or less cover the selling commission)?

With Florida real estate dropping so hard I am wondering if now is the time to just buy a condo outright or just buy a DVC resale and not bother with the hassles of real estate.

Trading in DVC points to make a quick profit is a bit risky, in my opinion. For any other timeshare it is downright foolish. Remember your transaction costs in this as well.

The risks in condos are the financial stability of the condo association and the percentage of investor owner units. Then there is the small issue of financing, which has become a bit absurd down here. But you are correct in that there are a glut of condos available in central Florida, actually just about anywhere in central or south Florida.

For the OP we have sold using The Timeshare Store with good success. They know what they are doing and give good solid advice if you ask for it.