Making a Low Offer on a "Only Full Asking Price Will Be Accepted" contract???

[DanCali]

Do other brokers other than the board sponsor have "Only Full Asking Price...."?

Yes, they do. For example - https://resales.*******.com/ has listings that have the letters LBF in the listing ID (e.g AKXXXLBF1) which stands for "Low but Firm"

 

[tom1944]

Do other brokers other than the board sponsor have "Only Full Asking Price...."? I assumed that they were contracts that the board sponsor themselves owned and therefore it would be pointless to offer less.

The other issue with the board sponsor is their Instant Sale facility. It sets a floor below which any negotiation is likely to be successful. If it prices the contract above what I'm willing to pay (and it almost always will) then there is little point even looking here. The bargains are to be had elsewhere.

However, I would probably use them to SELL my contracts.

The recorded deeds indicate that their contracts come in at a higher price. I am sure Cammy and other title companies handle some of their sales but the ones from Magic Express are generally a higher price per point than the average of all transactions.

 

[tom1944]

Yes, they do. For example - https://resales.*******.com/ has listings that have the letters LBF in the listing ID (e.g AKXXXLBF1) which stands for "Low but Firm"

There is a low but firm for sale that I do not feel is actually low. It can not close until April so I am interested to see if the price changes after that.

I have been making low offers and will most likely continue but am not 100% certain what I want or should buy. I thought I did but after continuing to read posts on this board a million different ideas go through my head. I think I will have a better idea after our August trip so unless I get a great contract that I just cannot pass up it appears I will have pressure to buy this fall.

Right now, I have been tracking BLT (not sure I need to buy to stay there) SSR (own there and I believe it gives us what we need in the long run) and BWV (we stay there in August as part of a split stay). If the family says we love BWV and like split stays, then that might be where we need to buy. The 2042 date might work for us since my wife and I will be 85/84 and our SSR contract would be left until 2054. That could be easier on our daughter not getting stuck with 400 points.

 

[gmi3804]

As a Broker, I don't take listings when I know the seller is just going to list and wait for the market to catch up with it (if ever). I have much better things to do with my time, like lying on the sofa eating cashews and watching Judge Judy.

 

[gmi3804]

Seriously, one of the best things I ever learned about working in this industry is being able to say goodbye to potential clients you're not going to enjoy working with/for. Many brokers are kept very busy with activity that doesn't lead to closed deals. I'd rather work smart than a lot, so I do a LOT of due diligence when taking on business. I'm not interested in being someone's public library or gofer. Serious clients only.

 

[MerlinandtheMouse]

I just sold a contract through the board sponsor and I never requested they add the comment of “Only Full Asking Price Will be Accepted” but it was on the listing when they sent it to me for approval. I just went with it and figured if I didn’t get any bites in a few days I’d ask them to take that off or lower the price slightly, so I personally would have entertained other offers. They did advise me to change my listing price by a dollar since another listing of the same resort and point qty was just listed and it could make it more appealing or stand out, so I did.

Two or three days later another agent contacted me that her client offered full asking price. I don’t know if there were other offers placed in those 2 or 3 days or not, the only time I heard something was when it sold.

I’ve only ever seen that addition of full asking price on small point contracts and listings that were decently priced already. I think most people don’t realize the value (or lack thereof) of their contracts so they just go with whatever the agent says. I’m pretty sure this exact contract when we first purchased was one of those and I offered $2 less then asking (lol I was new to DVC and not on on the Disboards yet so it felt like a win to me) and the agent said the sellers didn’t really want to negotiate and just sold a second contract at full price but ultimately accepted mine, woohoo $2 off!

I think it’s worth a shot to offer a fair price on one of those listings, like a previous poster said, worst thing that’ll happen is they’ll say no.

 

[JGINPL]

I just sold a contract through the board sponsor and I never requested they add the comment of “Only Full Asking Price Will be Accepted” but it was on the listing when they sent it to me for approval. I just went with it and figured if I didn’t get any bites in a few days I’d ask them to take that off or lower the price slightly, so I personally would have entertained other offers. They did advise me to change my listing price by a dollar since another listing of the same resort and point qty was just listed and it could make it more appealing or stand out, so I did.

Two or three days later another agent contacted me that her client offered full asking price. I don’t know if there were other offers placed in those 2 or 3 days or not, the only time I heard something was when it sold.

I’ve only ever seen that addition of full asking price on small point contracts and listings that were decently priced already. I think most people don’t realize the value (or lack thereof) of their contracts so they just go with whatever the agent says. I’m pretty sure this exact contract when we first purchased was one of those and I offered $2 less then asking (lol I was new to DVC and not on on the Disboards yet so it felt like a win to me) and the agent said the sellers didn’t really want to negotiate and just sold a second contract and full price but ultimately accepted mine, woohoo $2 off!

I think it’s worth a shot to offer a fair price on one of those listings, like a previous poster said, worst thing that’ll happen is they’ll say no.

I'm going through the same thing with the Board Sponsor. I have one listed that they have that states Full Price Only. I requested today as it has been 3 days since listed if they could remove that. They commented I would be flooded with responses if I didn't that will lowball offers. Better to just reduce $1 or $2 and see if it gets anything they said. Hopefully I will be lucky like you and sell if a few days.

 

[MerlinandtheMouse]

I'm going through the same thing with the Board Sponsor. I have one listed that they have that states Full Price Only. I requested today as it has been 3 days since listed if they could remove that. They commented I would be flooded with responses if I didn't that will lowball offers. Better to just reduce $1 or $2 and see if it gets anything they said. Hopefully I will be lucky like you and sell if a few days.

I should clarify the whole process finished a few weeks ago but I put it up for sale in mid-January. It was a 50pt Poly contract so I assume it went relatively quickly because it wasn’t long after the association “announcement” was made when Poly was a hot item.

If it doesn’t sell in the next week or so and you need to sell sooner than later (I wasn’t in a rush so would have been ok moving slowly with small price decreases), I’d have them remove that Full Price Only comment and have them do their job and filter ridiculous offers but ultimately let you decide what offer you find acceptable.

 

[CVG]

I'm going through the same thing with the Board Sponsor. I have one listed that they have that states Full Price Only. I requested today as it has been 3 days since listed if they could remove that. They commented I would be flooded with responses if I didn't that will lowball offers. Better to just reduce $1 or $2 and see if it gets anything they said. Hopefully I will be lucky like you and sell if a few days.

Yes, they hate bargain hunters like me looking for unicorn deals!

 

[KAT4DISNEY]

I'm going through the same thing with the Board Sponsor. I have one listed that they have that states Full Price Only. I requested today as it has been 3 days since listed if they could remove that. They commented I would be flooded with responses if I didn't that will lowball offers. Better to just reduce $1 or $2 and see if it gets anything they said. Hopefully I will be lucky like you and sell if a few days.

The board sponsor appears unwilling to do their job as a broker of these sales then. "Show me the money but don't make me have to work much for it." As prices have dropped their profits would have as well.

 

[ClaraOswald]

Seriously, one of the best things I ever learned about working in this industry is being able to say goodbye to potential clients you're not going to enjoy working with/for. Many brokers are kept very busy with activity that doesn't lead to closed deals. I'd rather work smart than a lot, so I do a LOT of due diligence when taking on business. I'm not interested in being someone's public library or gofer. Serious clients only.

So you're a DVC broker? I see your posts here a lot and I had no idea.

Does that mean if you get a lowball offer you just ignore it or what?

 

[Shoktherapy]

Yes, they hate bargain hunters like me looking for unicorn deals!

Funny you say this as I have made 2 offers today on contracts - both probably would be considered lowball offer, but they were both exactly what I paid for my last loaded contract. The first one, they countered, so I countered back and the broker said that they were suddenly “firm”. I have since gone back and challenged that they are now “firm” and requesting that the broker share my counter with the seller. I will probably get blacklisted for this one - oh well. The other one was a “only firm offers accepted” but I made a low offer anyway and got slapped down. There are still plenty of deals to be made.

 

[Genie+]

I would not bother offering lower on these unless seasons have passed since it originally posted.

 

[Shoktherapy]

I would not bother offering lower on these unless seasons have passed since it originally posted.

The answer to the question you never ask is always “No”.

 

[gmi3804]

So you're a DVC broker? I see your posts here a lot and I had no idea.

Does that mean if you get a lowball offer you just ignore it or what?

I'm a residential real estate broker, but the general tenets with working with clients are the same. License Law mandates that all offers must be presented to the seller in a timely matter, unless the broker is specifically told by the seller (in writing!) that they don't want to see offers containing specific contingencies; in this thread's case, an offer price lower than asking.

 

[chazas]

As a Broker, I don't take listings when I know the seller is just going to list and wait for the market to catch up with it (if ever). I have much better things to do with my time, like lying on the sofa eating cashews and watching Judge Judy.

And wine. Judge Judy goes great with wine.

 

[ChipTheRescueRanger]

Another random questions. If a listing moves to pending. Can you still offer on it and does the agent have to still present the offer to the seller ?

 

[gmi3804]

Another random questions. If a listing moves to pending. Can you still offer on it and does the agent have to still present the offer to the seller ?

Yes, unless, again, the seller doesn't want (in writing!) to entertain any subsequent offers. We're otherwise required to present all offers up until closing day.

 

[ChipTheRescueRanger]

Yes, unless, again, the seller doesn't want (in writing!) to entertain any subsequent offers. We're otherwise required to present all offers up until closing day.

Thanks. I have no idea on US laws. I sent an offer yesterday and was told the listing is no longer available as an offer accepted without presenting mine (mine was a low ball tbh)

 

[cvjw]

I offered a lower price on a LBF listing at BLT with a different broker than the board sponsor. I had no idea it was a LBF offer, guess I didn’t read the listing very well. Offered $5 per point lower and it was accepted within minutes. Guess the owners really needed or wanted to sell fast.