How to sell main and add-on contracts?

Hilary

There's always something new to learn!
Joined
Feb 10, 2000
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Let me just say that I am not looking to sell my points at the moment, but reading some recent posts about re-sale purchases has got me wondering about how it would work for us in the future if we ever did want to sell.

We initially purchased 150 points, and have since added a further 25 points - all at VWL, all with the same Use Year, all direct from DVC. So we have one contract number, although there is a different suffix for the add-on.

I understand that closing costs for a re-sale are pretty near to $500 whatever the size of the contract, therefore making our 25 point add-on not cost-effective to a buyer via re-sale!

My question is - as far as a potential re-sale is concerned, would our contract be dealt with as one for 175 points, or two separate contracts of 150 and 25 points each?
 
It would be sold as 2 separate contracts of 150 pts and 25 pts. Thats why people purchasing now try to split up there contracts into smaller amounts(when purchasing new from DVC), example instead of 300 pt contract, get 2 150 pt contracts.
 
Even if the same person bought both your contracts at the same time, closed on the same day, and used the same pen to sign, its still two seperate closings. Each closing would cost near $400. So that would add $16 per point to the cost of your 25 point contract.
 
I'm sure you could get a package deal if selling the entire thing to one person but there are some extra costs that cannot be avoided. I'd guess that most closing companies would do it for about an extra $100 total in this type of situation.
 

I am now closing on 2 contracts ,both from the same person. I am paying $575.00 for both,a 90 and a 270 at BWV. Rich
 
Rich,

Just curious - are you conducting your sale through one of the resale agencies - or directly between buyer/seller?
 
Hi Hillary,

I would recommend you leave all your options open if you ever need to resale. You can legally sell the 25 points alone OR with the 150 points.

Closing costs on individual transactions are a minimum of $350 to the buyer, therefore adding $14 per point to the price you list it for...whereas if you sold the full 175 points together for $11,900 ($68 per point) closing costs would be $429 for the whole package - only adding $2.45 to the list price - usually much more attractive and easier to sell.

To get the most out of your marketing I would advertise the 25, and the 175 at the same time. If the 25 sells, then you can market the 150 and it should sell in a reasonable amount of time.

Your cost will be the $75 transfer fee regardless of whether they are sold together or individually.

Let me know if I can ever help. info@TimesharesByResale.com

Kind regards,
Shontell

DVCByResale.com
 
that $75 transfer fee is per contract and/or each add on. So for the 150 pts OR the 25pts you would pay 75 for each or 150 for both.
 
You are absolutely right, MsDis. That's what I meant to imply, but now going back and reading my post I see it wasn't clear. Thank you.

Best regards,
Shontell

Lic. Real Estate Broker
www.DVCByResale.com
 
Thanks for all of your replies :)

I'm very happy with our DVC ownership, but at least I'm now clearer about the logistics of selling if we ever decide to ;)
 



















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