How do you put in a lowball bid?

[theMoreDisneytheBetter]

After seeing some of the recent prices I’m tempted to consider putting in a lowball offer for Riviera. The ROFR thread showed an accepted offer for Riviera at $115 and I saw a couple of copper contacts in the $150s (something else I have been watching). Aulani can be had around $100. But the actual list prices on Riviera are in the $130s-$140s. I don’t even know how to go about bidding where I think it should clear without being ignored, or worse black listed by the listing company.

What do you think? Where will Riviera eventually settle at?

 

[RoseGold]

You won't be blacklisted LOL. Just put in an offer.

 

[Cfabar1]

My agent was definitely annoyed, but polite and never refused to work with me again. Eventually I found something that wasn’t a super lowball offer but was what I was looking for. I think he was shocked I finally got a sale for him. Be prepared for nos, and be prepared for a lack of meaningful counter, and also for the agent to not work too hard on your behalf after the first one or two times you do it. The key is to be brief, courteous, and polite. Eventually you’ll find someone willing to offload.

$115 for Riviera sounds pretty low, but hey, you never know!

 

[LYSE]

You simply make your offer, I had a few sales agents let me know it was low but I was firm, 10 offers later someone said yes

A few weeks later I had one calling back asking if my offer was still good.

You have nothing to loose, even if they get mad you just move on.

 

[sethschroeder]

ROFR thread showed

Unless they stated where they got it from it does you zero good. There is always going to be 1 or 2 crazy deals during the year that you are likely to never replicate.

You can do what you wish though just be prepared to never actually get a contract.

If you are really looking for those low of prices you need to check some of the less common places to buy DVC resale as well.


EDIT:
Also I looked at it was $118 not $115 and its from a blocked site meaning its likely not the most reputable DVC resale site.

EDIT 2:
I looked through all resale contracts from July 5th until August 30th and didn't see the contract get filed either with county with the proper legal description. Its doesn't have to have the correct naming I don't believe but can't look further in to the specific contract.


Basically the lesson here is its a single contract over 12 months, wasn't at any site listed around here, and likely isn't a DVC specific site. That poster hasn't come back to the board either since posting their deal on the ROFR thread.

 

[tom1944]

I guess the art of it is to submit a low ball offer that at least gets a decent counter offer

 

[Nursemanit]

You really have to look at the age of the listing - anything sitting for more than 30 days should be discarded as too high. Just use the recent weeks as the current price.

 

[theMoreDisneytheBetter]

Gotcha, thanks. To be honest I want Riviera points. I really don’t need Riviera points (not that any of us NEED points but that’s a different subject). That means that I would need to feel like I got a really good deal to buy right now.

 

[Sandisw]

Gotcha, thanks. To be honest I want Riviera points. I really don’t need Riviera points (not that any of us NEED points but that’s a different subject). That means that I would need to feel like I got a really good deal to buy right now.

While there have not been that many really low RIV resale sold at this point, all you can do is put it in.

I think some..if not all…of the ones that sold low did not start out listed that low. And, right now, there are a lot of resorts whose contracts have been for sale awhile…demand seems to have slowed way down

Worst case, seller doesn’t mind waiting for a higher price. Best case, you get a seller who needs to sell, doesn’t owe on it and is okay to sell lower.

My net cost for my RIV points, after I subtracted the profit I made off selling BWV, was $121. You just never know a sellers situation!

 

[pianomanzano]

I was lowballing some RIV resale contracts back in the summer when they had incentives bringing direct prices down to 170-180/pt. A couple brokers were telling me what the average resale was (quoted in the 140-150/pt range). But I stood firm in only buying in the 115-125/pt range. If they didn’t want to negotiate further then I just left it alone. Took about 4 bids on various contracts until we ended up with a $125/pt 100pt contract (sellers accepted my first offer, it was originally listed at $140). I probably could’ve gotten them lower but I was happy with it overall and it matched my UY on my direct RIV points.

If you want RIV, it’ll be difficult because there’s not too many on the market and there are some contacts listed that are financed and sellers can’t go that much below the starting price without bringing money to closing, which I’m sure they want to avoid. But if you’re persistent and keep an eye out for new contracts, I’m sure you’ll be able to snag a deal!