How Soon Can You Sell A Contract?

[calypso*a*go-go]

Okay, I really don't know why this is keeping me up at night, but I've really been flip-flopping about AKV. I was trying to hold out for DLR or CRV but am growing too impatient! Anyway, I was considering buying a small add-on of 100 pts. @ AKV but then got to thinking, maybe I would buy 100+50 to be a founding member. Is there a certain amount of time I would need to keep the contract before I could go the resell route?

 

[Princess Roo]

I'm curious, too... We have a contract on a small SSR contract right now, but definitely wanted at least some of our points at AKL and considered waiting for that to come up resale. Now we'll just add on as soon as our first contract closes (assuming this one passes ROFL!!).
It doesn't seem like there would be a minimum amount of time to hold before selling, but one thing to bear in mind is that you will pay ~10% commission to sell that contract and there will be closing costs associated with it when you sell, which are pretty significant per-point on the small contracts. So you would probably lose money on the resale, but who knows!

 

[Paging Tom Morrow]

Once you own it you could sell it, but you would likely lose $500 or so.

 

[Dean]

As soon as you closed you could sell the second portion. For a 50 pt contract I doubt you'd lose anything considering the price is going up to $104 soon and you get the $8 discount. You could do the closing easily for a nominal amount.

 

[calypso*a*go-go]

Dean: That's exactly what I was thinking! But please, don't anyone PM me as I haven't bought anything yet or spoken with my guide but will call tomorrow. Also, I live in WA and DVC was not registered to sell SSR in my state until quite awhile after they began construction -- it could be the same with AKV...so it could be that I won't be able to move forward with my plans anyway unless we purchase during an upcoming visit to WDW.

 

[dianeschlicht]

Dean: That's exactly what I was thinking! But please, don't anyone PM me as I haven't bought anything yet or spoken with my guide but will call tomorrow. Also, I live in WA and DVC was not registered to sell SSR in my state until quite awhile after they began construction -- it could be the same with AKV...so it could be that I won't be able to move forward with my plans anyway unless we purchase during an upcoming visit to WDW.

If you are already an owner, I don't think they can stop you from purchasing AKV. You aren't being solicited.

 

[offtheice]

Okay, I really don't know why this is keeping me up at night, but I've really been flip-flopping about AKV. I was trying to hold out for DLR or CRV but am growing too impatient! Anyway, I was considering buying a small add-on of 100 pts. @ AKV but then got to thinking, maybe I would buy 100+50 to be a founding member, and then sell the contract as we really don't need that plus our two OKW contracts. Is there a certain amount of time I would need to keep the 50pt'er before I could go the resell route?

I thought about the samething.

 

[CarolAnnC]

This thread has been heavily edited for the following reason. Although we allow discussion of selling DVC in general on our boards, it is against DIS Posting Guidelines to discuss selling with details. We do not allow any for sale posts. Giving the Resort name, number of points in contract, etc. Is not allowed. And it is absolutely not allowed to suggest contact for selling through pm or email. Your compliance in this regard is appreciated.

 

[calypso*a*go-go]

Sorry Carol...it was never my intention to sell something I don't even own (or may not buy to start with!). Anyway, my question was answered so you can lock the thread in you'd like, just in case things start heading south again.

Diane -- I was already an owner at OKW when sales at SSR started. My guide wouldn't even talk to me about it until DVC was registered to sell in WA. I am assuming AKV will be the same way, but will find out for sure.

 

[3DisneyKids]

Also, if you bought with a CM discount, then there is a minimum amount of time you have to hold the contract (not sure what it is...my guide thought one year, but as this is a new policy, she was not sure). This is a new DVC policy--apparently there was a problem with people buying low with the CM discount and then flipping it and making a profit (especially since small resales do so well).

Now, when purchasing with a CM discount, everyone involved has to sign some additional paper work saying that they will not flip the contract. And if you are found to have flipped then the CM can lose his/her job.

 

[d-r]

Wow, that is interesting. I knew that they were putting effort in to worrying about CMs buying things with a CM discount and then selling on e-bay (I'm talking about park souvinears) and I wondered why CMs wouldn't buy dvc points and turn around and resell them. I figured that it was the fact that they would have to put a down payment on them and the poor cms don't make any money. We just bought some add-ons at AKV and I thought about buying a third one just to sell in a couple of years because I knew the price was going up to 104 and I figured in a year or two it would go up again. But we didn't.

 

[dumbo71]

Wow, that is interesting. I knew that they were putting effort in to worrying about CMs buying things with a CM discount and then selling on e-bay (I'm talking about park souvinears) and I wondered why CMs wouldn't buy dvc points and turn around and resell them. I figured that it was the fact that they would have to put a down payment on them and the poor cms don't make any money. We just bought some add-ons at AKV and I thought about buying a third one just to sell in a couple of years because I knew the price was going up to 104 and I figured in a year or two it would go up again. But we didn't.

good thing you didn't. SSR owners selling now are losing money unless they sell it on their own. Factor in the 10% commision and I don't believe anybody is making money on SSR. Usually it takes quite a few years of ownership before you can actually sell a contract and make money. I've done it but it took years of ownership. I also used it and rented it over that time. I never intended to flip it to make money. I've done flips with reagards to real estate however and done quite well with that.

Remember the price going to $104 means nothing. All that matters is what you pay and we all know they will offer some sort of discount. If they weren't discounting from $104 I doubt much will sell. People should simply wait until the next promotion starts. I bought SSR in 2003 for $84/pp so I couldn't sell it now and make money almost 4 years later.

I'd guess AKV will actually be selling in the $96 dollar range after the increase with incentives.

 

[calypso*a*go-go]

My guide wouldn't even talk to me about it until DVC was registered to sell in WA. I am assuming AKV will be the same way, but will find out for sure.

Okay...just as I feared! DVC is not registered to sell AKV in WA state (per a phone call with my guide today). I will only be able to purchase an add-on while in FL. The only trip we are even contemplating is one in August and that will probably exclude me from the current incentives being offered. However, I'm sure I'll be able to take advantage of the price-per-point increase.

 

[JodyTG]

Have you thought about taking a weekend trip down to Disneyland to make your purchase?