Help! Need info on selling.

[loribell]

Hi guys. I've been gone for a long time. Hope everyone is well.

We are thinking about selling our contract and need any recommendations or info anyone can give.

Thanks in advance for your help.

Lori

 

[JeffPort]

I'm not sure that you're going to get much specific help on this issue since I gather that most people on this board are current DVC owners or prospective buyers. There may be a few owners out there that have resold one of their multiple DVC contracts.

I can give you a few tips based on my investigations prior to my recent resale purchase. I found 4 primary resale brokerages that specialize in DVC (links included below). I believe some of them have seller information listed right on their websites, but you ought to give each of them a call to find out what their commission rates would be for your unit. Typically the buyer will pay all closing costs (approximately $500), but the seller will pick up the broker commission and the DVC transfer fee ($100).

From following the listings for many weeks, I can tell you that you'll struggle to sell your property quickly if you have "borrowed" points from next year, and, to a lesser extent, if you have used most of the current year use points. You can drop the price to compensate for this, but at a certain floor, DVC will exercise their ROFR. That fact seems to scare away buyers as I've seen many properties with low points and costs remain available for as long as I've been reviewing the listings.

If you use a broker, they will handle all of the paperwork for you and guide you through the resale process. It is certainly possible to complete a transaction directly with a buyer (and I believe there is a timeshare bulletin board on the internet that tries to match buyers and sellers), but you'll still need to enlist the services of a closing service for the title transfer.

Best of luck to you in obtaining a quick and successful transaction.

http://www.dvc-resales.com/
http://www.dvcbyresale.com/
http://www.reid4florida.com/disney_hot_buys.htm
http://www.atimeshare.com/disney/

 

[Cruelladeville]

I am also selling a contract, and so far I have found out that most websites don't have any useful specific info. You will have to call. They can email the info, but it's Greek if you have never sold a contract before. I found that Shontell's company(DVCbyresale.com) charges 10% to sell a contract(they are the cheapest), but seems to have more paperwork, and you have to get the points declaration from DVC yourself, and I don't know how you do that. You also seem to have to make contacts thru DVC, although I'm not sure what that's about. At Timeshare Store they charge 12%, but you fill out a one page paper, and your job is done. They do the rest. They made sure to tell me that they actually have an office, a lovely one, not just a vacant storefront(in the outlet mall, I think), and they sell more timeshares than everybody else combined. I thought they sounded like they knew what they were doing, but who knows??

 

[msdis]

We sold a contract (stupid idea #1), anyways, we went thru timeshare store and it was painless. Jerry was our agent and basically heard very little from him it was that smooth. Took a little over a month from start to finish and a buyer was found within a week. I would buy or sell with them again, esp. Jerry.
BTW-at that time only BWV was a 12% commission, all the rest were 15%. Maybe that has changed.

 

[Moonmom]

I'm glad Loribell brought up this question. DH and I were just recently talking about maybe selling some of our DVC points.
Once a resale offer is accepted; how long does it usually take for the whole deal to go through? Just wondering since I'd hate to have either the buyer ( or us if the sale didn't go thru in by the banking date) lose out on the use of 2004 points.

 

[Beth]

We sold a small add-on this past fall, and I believe the whole process took about 30 days - once we signed the contract.

And, for whatever it's worth, I paid a different commission percentage in my deal then what is described in the previous posts - so I would definitely give the resellers an opportunity to give you their info, firsthand...

 

[spiceycat]

I sold a contract thru Shontell - the whole process was quick - I only had a page of two of stuff to fill out and I called DVC as soon as she say what was needed - no problems at all.

She had me a buyer as soon as she had the signed contract - DVC took longer - it was about 3 weeks before DVC decided to buy it. It was around 30 later than I got the check (less than it should have been).

 

[kem330]

We just sold our BWV contract through Jaki @ atimeshare.com. We used her to buy the contract and she does discount for returning customers- 10% commission instead of 12. OP are correct in stating that contracts with current or banked points are much more marketable. Points are selling in high 60's - low 70's for BWV, there is a $100 transfer fee that seller pays to Disney. Buyer typically pays closing costs and we had them pay prorated dues for the year. Passed ROFR in 2 weeks with Disney. expect to close in a couple more so I would say from offer to closing takes about 5-6 weeks. We added to our BCV contract. Now I'm having sellers remorse!! So be sure you really want to sell those points!

 

[TheRustyScupper]

First, try to sell it without a broker. This saves big money.
. . . list on TUG (Time Share Users Group)
. . . list on eBay
. . . if sold, the closing agent can handle the paperwork
. . . since buyer pays closing, you pay nothing
. . . all you must do is submit to DVC for ROFR
. . . you total expenses will be EXTREMELY small

If you can't sell, then list with a broker
. . . you will pay !2%-15%
. . . some are flat-fee of $1500, or so

 

[chips]

I've read people have tried tug but spent a lot of time explaining dvc and how the points work etc. They were not able to sell through tug. Tuggers want to buy at the very lowest price. DVC is expensive.

I've seen dvc for sale on ebay. Boardwalk eventually sold for 72 dollars a point. I haven't heard if any dvcers were able to sell on ebay.


Has anybody been able to sell on tug or ebay?

 

[loribell]

Thanks for all the replies everyone. I really appreciate it. I may try to do it myself. Just not so sure how to handle all the paperwork or what all will be needed.

Would a regular real estate agent be able to help with that I wonder? I have one of those in the family. I guess Disney will tell me what I need for submitting it for ROFR?

Thanks again and if anyone has anything to add please do so.

Lori