Have to sell our DVC

[JudyS]

I bought my DVC contract from a person who was selling it himself. It is more work that way -- the seller wasn't sure how to draw up a contract, so I ended up writing it! If you do change your mind and decide to sell by yourself, though, pm me & I will look up the name of the closing agency that we used.

Late last year, my husband was told that he would be laid off. I thought about what I'd do with our DVC if we got really strapped for cash. My thought was that we would buy a small add-on (probably 25 points) and then sell the main contract (175 points.) That way, we'd still get the DVC discounts, we'd be in the system for more add-on purchases when our situation improved, we'd be able to get points transferred into our account if we wanted to rent points, etc. (We were lucky, and DH still has his job, so we don't need to sell now.)

You may want to consider buying 25 points and selling your main contract as as a way to get "the best of both worlds" -- less cost, but you'd still be a DVC member.

 

[twotoohappy]

Sorry about the need to sell. We have bought and sold with Pat at the Timeshare Store. I must admit that they continue to get my business and my referrals because they do a great job.

Good luck to you

Pat Spell at the timeshare store

 

[pistonfan32]

We bought thru Jaki Apetz at A Timshare Broker and she was great.

 

[chris1gill]

That's strange. The ONLY thing a broker gives you is finding a buyer and the initial contract. And given that you will pay them $1000 min up to 12% of the transaction cost, you could potential come out with dollars in your pocket. You can still use a full service closing agent if you want to avoid any additional hassles. Now I'm sure some will offer you a lowball figure, but you have to do nothing but say no if the price is not what you are comfortable with.

Hi Dean,

Could you outline how to sell a contract on your own? We did sell our house ourselves, so we don't mind doing the legwork on one of our small contracts What forms do you need to supply DVC for them to review for ROFR? I know there are plenty of inexpensive closing services out there....

TIA!

 

[NJParkhopper]

So sorry to hear you need to sell. That's got to be so incredibly difficult! Can't wait to see you come back to the "neighborhood" when you get all your finances as you'd like them. We'll be waiting to greet you again with a rousing "WELCOME HOME!!!"

 

[Dean]

Hi Dean,

Could you outline how to sell a contract on your own? We did sell our house ourselves, so we don't mind doing the legwork on one of our small contracts What forms do you need to supply DVC for them to review for ROFR? I know there are plenty of inexpensive closing services out there....

TIA!

As applicable to this thread, there are really two components. One is finding a buyer which does include a fairly simple contract. Then there is the components that a closing agent may perform. The list would include the following.

• Finding a buyer and agreeing on a price and specifics.
• Getting a contract that documents the price and specifics.It doesn't have to be complicated but needs to include a price, accurate descriptions of what's being sold. Who's buying, who's selling, who gets what and who pays what. And money exchange arrangements, usually with a deposit. The contract should spell out the closing date. Make sure it's at least 30 days after DVC will get the contract.
• Once you have that you simply send it to DVC member admin for ROFR consideration. They will send you a letter either way. Make sure to include the ROFR issue in the contract.
• Once you have that you need a deed. In FL it has to be notarized and also witnessed by 2 different people. It doesn't have to be complicated, the one DVC uses when they do ROFR is really very simple.
• Then you send the ROFR and deed along with the appropriate fee to the county to record.
• At the same time you send DVC a copy of the deed and the indication it's been sent for recording. They don't need to actual deed to be recorded before they'll change it over.

As for the reference above about dealing with someone who is clueless on a private resale, I tend to find that's easier than dealing with someone who thinks they know what's going on and doesn't. I've bought and sold a number of other timeshares from people who didn't know the process and it made it simpler for me. And in every case, the other party expressed appreciation that I knew what to do and how smoothly things went.

If it were I, i'd write in the info about how the dues were to be handled since DVC handles fees on a Calendar year basis and not on a use year basis. And this is true whether it's a private sale or through a broker since their used to the idea "if you get the week, you pay the fees" which does not apply to DVC in the same way it does other timeshares.

 

[panfan]

This thread has been helpful to me also....
As DH and I decided to sell our points also.....It is a sad day in our house today to say the least. Hopefully we will be in a better financial position in a few years to buy again as we certainly love DVC!

 

[milmore104]

I completely understand where you are coming from. DH and I bought into OKW as our wedding present to eachother. We visited WDW so many times in the 5 years we were DVC members but then we tried to start a family and were having trouble. So to come up w/ the money for some help we decided to sell our points. It wasn't a hard decision to make because we were successful and now have a beautiful 5 yo DD. But it was a sad day when we signed those papers. Good Luck to you and remember you will always have the "MAGIC"

 

[MCazer]

When we bought our resale in 1997, I bought from someone on a bulletin board. Her husband had a heart attack, couldn't go back to work, and they needed to sell.

She still has a loan out on it with Disney. I drew up a contract (using a law program), she called Disney and had the contract transferred to me. I took over the loan (which we paid off within the year) and Disney only charged us $200 to do everything (close, transfers, fedexing and registering new ownership). Now this was in 1997, it may have changed, but if you still have a loan with Disney, it may be as simple as mine.

Worth it to call and ask.

BTW, I got our points for $54 a point with free park passes until 2000. More than paid for us!

 

[luvdzne]

BTW, I got our points for $54 a point with free park passes until 2000. More than paid for us!

The good old days!

Thanks everyone for all the information!

Now, I have had quite a few people email me and tell me it really isn't hard to sell this on my own. From what I gather, I find someone to buy, write up a contract (Is there anything out there to tell you how to do that?) and then find a company that specializes in timeshare closing (any recomendation?). Does Disney help in any of this? I know there is the right of refusal, but how do I go about that?

Thanks again!

 

[Rock'n Robin]

We sold through Jaki Apetz in the fall of 2004 when my DH's business failed and we had some money issues. All is well now, but those points had to go at the time. Please don't let others nag you into selling on your own if you don't feel comfortable doing so! DH and I both had jobs (he went to work for someone else), 3 kids in various activities, and no time to play phone tag with lawyers, buyers, etc. I would recommend Jaki.
Robin M.