I purchased
DVC back in June and was so excited! Unfortunately we've run into some financial troubles and I need to sell. It's not so bad that it's an emergency or that I'd take low-ball offers, though. I'm hoping this group can help a newbie with tips or advice:
What's the least expensive, fasted way to sell?
Is it possible to sell without a broker?
Anything else I should be aware of?
Thanks in advance!
If the issue is a short term money crunch, then renting out points to cover the MFs + pocket a little extra cash seems like an option. Especially since resale prices have been flat/trending down lately & if the preference is to keep the contract if possible.
If the issue is the purchase was financed 4-5 months ago & meeting the monthly payment is the problem, then the concern is that the current value of the contract could be less than what is owed & the seller will have to come up w/ a lump sum amount to even sell it. Whether that’s the case depends on direct (worst case) or resale, the sale price, how much was put down, how much of the principal has been paid, etc..
DVC resale is not a fast process even in the best of economic times & we are not currently in the best of economic times.
A year ago there was a lot of demand & not enough supply so prices were trending up & realistically priced contracts were selling pretty fast. For the last several months there’s been increasing supply -here’s an article from last spring discussing the increase in the number of listings
https://dvcnews.com/dvc-program/fin...00-for-all-walt-disney-world-resorts-combined there were 1500 listings when that article was written, there are even more listings now - 2300. You can search for listings & screen for your resort to see how many contracts are currently listed for sale & the range of asking prices & how long some have been sitting on the market to have an idea of what the value of your contract is v. what a ‘low ball offer’ would be. But be aware that even that snapshot isn’t 100% accurate. Competitively priced contracts sell fast, so they disappear from the listings & overpriced contracts don’t sell, so they linger on the market, thus those two factors skew asking prices higher than the true market value. If, as I suspect, we are at the beginning of a pullback in discretionary spending, then it’s best to price competitively from the get go rather than price too high & risk chasing the market down if you need to sell IMO. If your take on the economy is different, or if DVC happens to be propping up the price of your resort via ROFR, then your strategy will be different.
Selling it yourself would save you the 10% or so commission you’d pay a broker - but your buyer pool would likely expect to pay a lower price for taking on the risk of buying a FSBO & you’d have to deal w/ finding a buyer & then haggling w/ them over price, providing contracts, ROFR, closing, etc.. I wouldn’t do it personally - just not worth the headache/hassle to me.
