If you sell your DVC.........

[KingsFanInRI]

........and you have upcoming trips, do you forefeit them?

As an example, if I have a trip booked for later in the year and I sell my membership do I still maintain that reservation or do I lose it?

 

[DVCLiz]

You lose it - if you sell your contract, all future reservations are automatically cancelled. The moral is - don't sell until you take your trip!

 

[KingsFanInRI]

You lose it - if you sell your contract, all future reservations are automatically cancelled. The moral is - don't sell until you take your trip!

That's what I thought. Thanks.

 

[Dean]

They cancel all pending reservations at the time the change the registration, not at ROFR. So it is possible to time it in some cases.

 

[DiznEeyore]

Actually, if you have a trip planned, you can set up closing to occur *after* the trip. You just need to make sure the terms of the sale disclose that in the form of "cannot close before xxx date".

We did this last year when we sold a small contract through The Timeshare Store, and the contract that we're buying right now through them can't close 'til the end of June even though it should (hopefully!) pass ROFR before mid-April.

 

[MemoryMakers2669]

I am selling my VWL contract, and closing will be set for May 12th (or after), which is the day we check out of OKW, where we are using pts from that contract. BUt everything else will be done prior to that...finding the buyer, etc.

 

[Dman67]

Hi gang! I saw this thread about selling DVC memberships and was curious what the success was on selling. Any thoughts or experiences you can share would be great. Just wanting to get a feel for what we might expect should we ever decide to sell.

 

[CarolA]

I have sold two contracts.

One OKW 100 points sold in about two weeks. One HH 50 point sold in half an hour LOL! It made the listing and was gone.

I have used the board sponsor and another respected broker and both went very well.

 

[littlestar]

We have sold (2) small contracts - a 50 and 55 point contract through the Timeshare Store and both sold within a day of listing them. We just recently purchased a small add-on SSR contract through Disney for the later ending date for our kids. Decided we wanted at least one points package to have the longer expiration date for the kids. I'll be dead and gone probably in 2054, but my youngest daughter will be 70.

We didn't have any upcoming trips on the points we sold. I knew they would be cancelled if we did, so we made sure to book our trips on our other contracts we were keeping.

 

[DiznEeyore]

We didn't have any upcoming trips on the points we sold. I knew they would be cancelled if we did, so we made sure to book our trips on our other contracts we were keeping.

Again, as I said above, you do NOT have to cancel a pending trip as long as you specify a closing date AFTER that trip is completed and the points being used for that trip are excluded from the sales listing. I'd hate for someone to be confused on this issue.

 

[Dean]

Again, as I said above, you do NOT have to cancel a pending trip as long as you specify a closing date AFTER that trip is completed and the points being used for that trip are excluded from the sales listing. I'd hate for someone to be confused on this issue.

That is true however most people who sell do so for a reason. Same for those who buy. Depending on the needs of each participant and how far out the reservations in question are planned, trying to time closing can make it far more difficult to sell. It may work by delaying a few weeks but not for many situations.

 

[littlestar]

Again, as I said above, you do NOT have to cancel a pending trip as long as you specify a closing date AFTER that trip is completed and the points being used for that trip are excluded from the sales listing. I'd hate for someone to be confused on this issue.

I was too afraid to chance it. With my luck, they would have closed earlier by mistake. As it was, I had to call the closing company twice on one of our contacts we sold because they kept listing the contract number wrong (the buyer would have loved getting 150 points every year instead of 50, though - ha).

It was better for my nerves to keep the ones I was selling totally separate from active reservations.

 

[aclov]

But doesn't it specify in the contract when the person will start receiving their points? Maybe I'm getting confused by this since I'm talking about borrowed points. I just sold one of my contracts but had borrowed all 2007points for a trip this year, the seller knows that they will not get any 2007 points until 2008. Since they now own the contract do they have the power to cancel those reservations?

 

[aclov]

But doesn't it specify in the contract when the person will start receiving their points? Maybe I'm getting confused by this since I'm talking about borrowed points. I just sold one of my contracts but had borrowed all 2007points for a trip this year, the seller knows that they will not get any 2007 points until 2008. Since they now own the contract do they have the power to cancel those reservations?

I think I answered my own question. I just looked at my paperwork and it does state "buyer to receive points from the 2008 allocation and all points from closing forward."

 

[Dean]

But doesn't it specify in the contract when the person will start receiving their points? Maybe I'm getting confused by this since I'm talking about borrowed points. I just sold one of my contracts but had borrowed all 2007points for a trip this year, the seller knows that they will not get any 2007 points until 2008. Since they now own the contract do they have the power to cancel those reservations?

Any timeshare contract should specify who gets the next usage whether it be weeks or points. However there are things that can happen to affect how this works. I personally know of cases where the contract spelled out the buyer got the next years week (non DVC) and the week was documented to be available. Then the seller did something to affect the week in the time between documentation and changeover with the resort, such as depositing with an exchange company. The resort is not bound by the agreement and cannot pull that week back. As the seller you'd have to decide whether it's worth a law suite or not. I also know of situations similar with DVC resales though I'm pretty sure all the ones I know about worked out in one way or another with return of points or payment for them.

DVC is not bound by the private contract and have made a corporate decision just to cancel any pending reservations, they are within their rights. I'm assuming there were some issues associate with resales and pending reservations that prompted this change a few years ago.