Is it a resale scam?

[AKemel]

I have looked at the resale listings, and it seems to me that a lots of people have used all current years points plus borrowed all of next year’s points. Since at least one of the main reasons for selling is the lack of interest, this seems very unusual. It almost looks like they rent the points and then try to sell their contracts at what seems a good price but with points borrowed. ($65/point for resale +$10/point current year +$10/point borrowed from next year =$85). If this is what is happening?

 

[KellyDVC]

...and you sound like an educated consumer. People will also list autos/homes/boats etc for above fair value, hoping for the uneducated buyer or to give them lots of negotiating room. If you are in the market, determine your price including banked/current/borrowed point expectations let the brokers know what you want, and sit back and wait. You may also want to list your wants on the timeshare board at tug2.net.

 

[MikeScott8]

well right now with the economy it may not always be lack of interest for people selling thier DVC. It could be that they are without a job now, and can't afford the payments.

Mike

 

[PamOKW]

I agree that at least some of the DVC's up for sale are probably for economic reasons. They may very much enjoy going to WDW and have made use of their points but now must choose between DVC and college tuition, mortgage payments, etc. It can also be that people may first try to postpone the need to sell their DVC for financial reasons by renting points. When they find they really do need to sell, the points may be used.

 

[AKemel]

If the reason for selling lack of funds, people who take vacations do not have zero points balance. The will usually have 10 or 15 or some odd number of points remaining, not ZERO. It is difficult to get to ZERO without renting.

 

[WDWguru]

The two resales we purchased each had BANKED points. Just shop around and be patient.

As others have said, there are various reasons people sell. Our first resale was purchased when the former owner could no longer afford it. Our second came available as part of a liquidation due to a divorce.

 

[Laurabearz]

Every contract is different.... we also got great deals on our resales, banked points, low cost, by waiting.....

BTW I have no plans to sell my points and I have lots of ZERO balances betweem my 4 contracts... not saying that , everyone is straight forward, jsut in my case, I am and I do.... lol

 

[Shontell_Crawford]

Your point is a very valid one. It is important to look at all aspects of resale listings when comparing to buying direct from Disney.

As everyone has already mentioned, you'll find some with banked points, some with current and some borrowed. Typically, it is a financial reason that folks are selling. Let your brokers know what your specific needs are and that you are serious about buying. I'm sure they will be in touch when the right package comes along.

Best regards,
Shontell

 

[PamOKW]

Lots of people purchase just enough points to take their vacation. It's very possible to have a zero balance without renting. I've never rented and I've finished some years with a zero balance.

 

[Dean]

The proper adjustment would not necessarily be $10 per point for each and every point. It partly depends on where you are in the use year and you would need to adjust for the maint fees unless you are paying those extra. You also must look at closing costs. Get in the habit of looking at the overall package but keep in mind each component. Remember ALL is negotiable.

 

[johde]

Another thing to remember is that some of these resales have been on the market a looooong time. The web site may not be the best place to look for a resale. Most resale companies have a call list so the best contracts normally never make it to the web site. That being said the one I purchased I saw first on the web site. Buying resale sometimes it means being patient at times and other times it means jumping immediately. I missed out on a one that was nearly perfect because I waited overnight to think it out. You need to decide what you want, what you are willing to pay and what to deduct if things are missing. I think a spreadsheet can be useful for this.

Jeremy