Many new Resale Listings

[Lasrnw]

Because we are looking I have noticed a lot of new resale listings - Is this something unusual or is it a time of year kind of thing?

 

[JimMIA]

This is just a guess, but...

Disney's prices on SSR just went up, as did their prices on sold out resorts, and presumably ROFR prices will rise along with the other two. The increases have been known for a number of weeks, so it is quite possible that many sellers held off to wait for what should be higher selling prices.

Lucky for you, the 1000 point OKW contract at $80 per point is still available!

 

[JeanJoe]

Lucky for you, the 1000 point OKW contract at $80 per point is still available!

To make sure you get the deal, you should offer to pay 2005 MF, closing fees, transfer fees, commission, and all postage that the seller requires.

 

[T.E. Yeary]

Actually, our listings are down. We are presently carrying approximately 65. The reason they are down, we are selling more than we are listing!

In March we were at 100 listings, give or take a few.

You could be misled by the number of "Sale Pending". We don't take them off the board until we have recieved the signed contract, down payment, and submit to Disney for ROFR.

Thanks for asking,
Thomas E. Yeary (Tom)
Owner/Broker

 

[DOOGIERUNNER]

Thanks for the info Tom. I wondered how that worked. We've purchased three resales from you folks. Excellent service!!

 

[Y-ASK]

You could be misled by the number of "Sale Pending". We don't take them off the board until we have recieved the signed contract, down payment, and submit to Disney for ROFR.

I really wish you would take them down because it can be some what misleading. I keep looking at the 50 Pt. HH Sept. for resale during the last couple of weeks or so and it's still there. I don't want to see something that I can't have . I've already contacted Jerry about it and I'm the back up.

When I purchased my OKW resale last Oct/Nov the listing was removed very quickly. I know I overnighted my deposit to The TS Store so maybe that's why it was moved off line.

Any way I'm still interested if the buyer falls through on the deal.

Y-ASK

 

[Duchie]

Lucky for you, the 1000 point OKW contract at $80 per point is still available!

Don't tempt me!!!!!

 

[Y-ASK]

Well I am still hoping that Tom will have a follow-up comment on the Sales Pending listings. I really don't think it's necessary to leave those listings up during the closing process. It is only my opinion but once you've got an agreed upon contract (by both parties) and the necessary deposit the listing should be removed. I can't imagine that you've had that many contracts fall through that you're trying to have as many backup contracts as you can to ensure the sale and if that is not the case what is the reason? Hope I'm not coming across too critical but that's how feel about the sales pending listings.

Y-ASK

 

[GoldenOldie]

...We don't take them off the board until we have recieved the signed contract, down payment, and submit to Disney for ROFR.

...It is only my opinion but once you've got an agreed upon contract (by both parties) and the necessary deposit the listing should be removed.

Maybe it's just the way I'm reading it but it sure looks to me that you are both saying the same thing.

 

[Y-ASK]

Maybe it's just the way I'm reading it but it sure looks to me that you are both saying the same thing.

Kind of except I think Tom is talking about a written signed contract and formal submission for ROFR where as I'm taking about the verbal agreement that must be made before the written contracts are signed. If you have both parties in verbal agreement and the deposit from the purchaser then, in my opinion, the listing should be removed. That should only take a couple of phone calls and a check delivery which again in my opinion is a five day process at the most. I know I've been following that 50 Pt. HH re-sale for more than a week now with it listed as sale-pending. I don't have anything to back this up but I think it's been in sale-pending mode for over two weeks now. Christ I would have the entire thing paid for and contracts signed and faxed in by now. It's not like were talking about an $80,000.00 purchase . I just think all these sale-pending listings is clutter and useless space being taken up when what I really want to see is what is available. Sorry for coming across as a complainer and I really think highly of The Timeshare Store but my opinion is just that, my opinion and nothing more.

Y-ASK

 

[Y-ASK]

And of course as soon as I post this the HH listing is gone. Go figure .

Y-ASK

 

[T.E. Yeary]

I just needed to have my memory jogged, because I had planned to come back with a follow-up on this thread.

I'll be happy to comment and further explain how we do things.

When a purchaser & seller agree to go to contract, the following steps are:

1. We write Sale Pending on the listing board

2. We Fax or send the contract to both parties

3. Upon reciept of both buyer & seller signed contract and deposit from the buyer, the contract is then faxed to Disney for ROFR & to the title company.

4. Listing is removed from the listing board.

As you can see, if the buyer & seller are on the ball, in getting the required paperwork and deposit back to us, it is a possibility that we can complete steps 1. through 4. in one day! That is utopia, which doesn't happen often. Usually it is completed within 5 to 7 days. The listing is NEVER supposed to be left on the board during the entire closing process.

Sometimes folks drag their feet, a buyer is hesitant, a seller doesn't really want to sell. That's when things bog down, the listing remains up there until we can determine if it's a good deal or not. I could write a book about the excuses people can come up with. Usually, if they're not sure, they just quit communicating with us. Then we have to make the decision to pull the plug on the deal and remove the "Sale Pending" notice and go to the back-up contract. That is why it is not removed with the first verbal buyer & seller communication. This is the time period when the deal is the most vulnerable. So folks, if you see a listing with "Sale Pending", that sounds good to you, don't hesitate to call or E-Mail with a back-up contract.

There is also a possibility of human error. Our processors have gotten so busy with other things, they forget to remove the listing. This rarely happens but it is certainly a possibility.
As of yesterday, we had 70 sales for this month, that's alot of processing and when the agents are insisting their newest deal be typed and sent out, which is certainly our number one priority, it just adds to the confusion for the Administrative Department.

My question to all of you is:

A. Would you prefer the listings be removed with just the verbal OK from the buyer & seller?

B. Would you prefer we leave it as explained above to give you first crack at the deal if the "Sale Pending" is removed?

I know, maybe someone could do one of those poll things where you could vote. Someone besides myself would have to set it up because I wouldn't even begin to know how to do it.

I really am delighted that you folks are interested in the processes of the Resale Market. The main reason I have been monitoring this board is to find out how we can better serve our customers. I have already learned alot and have implemented changes to our system based on your posts. If you have suggestions that you'd like to see happen, send me a PM. I sincerely want your input. We want to give our customers the very best service possible!

Thomas E. Yeary (Tom)
Owner/Broker

PS. I do hope I've answered the questions that were on your mind. If I've missed one, let me know and I'll try to limber up my fingers for more typing.

 

[JeanJoe]

My question to all of you is:

A. Would you prefer the listings be removed with just the verbal OK from the buyer & seller?

B. Would you prefer we leave it as explained above to give you first crack at the deal if the "Sale Pending" is removed?

I strongly prefer it the way it is. When I was monitoring the resale market trying to decide if and for what I should place and offer for, it was very, very helpful to me to see what kinds of offers were being put forth, and noting which ones got snatched up quickly, and which lingered for a little bit of time.

If listings were taken off very early, as some have requested, it would remove this chance to learn about the "going rates" on the resale market. Granted, when something is listed as "Sale pending," I have no idea what the *actual* offer was for, or the details of who pays which fees, but it still gave me a general idea.

Please leave it the way it is.

And from Tom Yeary's point of view, trying to run a business and make a living, I totally understand that he would want to "show off to the world" that you can "move properties." The same reason why, I assume, with normal real estate sales, the "Sale pending / Century 21" signs in the front yard with the realtor's name remains for a little while.

 

[stingmom]

I just needed to have my memory jogged, because I had planned to come back with a follow-up on this thread.

I'll be happy to comment and further explain how we do things.

When a purchaser & seller agree to go to contract, the following steps are:

1. We write Sale Pending on the listing board

2. We Fax or send the contract to both parties

3. Upon reciept of both buyer & seller signed contract and deposit from the buyer, the contract is then faxed to Disney for ROFR & to the title company.

4. Listing is removed from the listing board.

My question to all of you is:

A. Would you prefer the listings be removed with just the verbal OK from the buyer & seller?

B. Would you prefer we leave it as explained above to give you first crack at deal if the "Sale Pending" is removed?the

I really am delighted that you folks are interested in the processes of the Resale Market. The main reason I have been monitoring this board is to find out how we can better serve our customers. I have already learned alot and have implemented changes to our system based on your posts. If you have suggestions that you'd like to see happen, send me a PM. I sincerely want your input. We want to give our customers the very best service possible!

Thomas E. Yeary (Tom)
Owner/Broker

PS. I do hope I've answered the questions that were on your mind. If I've missed one, let me know and I'll try to limber up my fingers for more typing.

IMO, I would think you could pull the listing once the deposit money is received. We haven't even finished closing yet and it pains me to see the smaller contracts with "pending" on them for several days because I would LOVE to pick it up! (lol) We overnighted ours the day we got the e-mail contracts and when it stayed "pending" for a couple of days, I started to panic, thinking the worst!

Just my .02

We are VERY pleased with our purchase from TSS either way!

 

[Y-ASK]

Thanks Tom, that was a great explanation. I think everyone knows my opinion at this point in time but I fully understand the need to not remove the listing right away. My only other suggestion would be that if most people want to see those Sale-Pending Listings that maybe they be seperated from what's currently available. Also if it's public record you might consider another section that shows what the sales actually went for. I'm just throwing out that idea but have no opinion one way or the other. Thanks again Tom for your excellent service and while I may be a little bit critical of the process, I have nothing but wonderful things to say about The TimeShare Store. I will be glad to purchase from you folks again and I've got Jerry looking for that perfect 50 Pt. contract for me as I write.

To any one considering a resale, The TimeShare Store is the place to go. The only worry you'll have is if your deal will pass ROFR and the TSS has no control over that process. They might have some helpful suggestions but no control.

Y-ASK

 

[Disney Fanatic]

My vote goes to seperating the pending sales from the active listings.

I find it a bit frusterating scanning the listings daily only to see a great one with a "Sale Pending" on it.

If I could suggest just to put all the "Sale Pendings" at the bottom of the list, that would help alot.

Thanks

 

[stingmom]

My vote goes to seperating the pending sales from the active listings.

I find it a bit frusterating scanning the listings daily only to see a great one with a "Sale Pending" on it.

If I could suggest just to put all the "Sale Pendings" at the bottom of the list, that would help alot.

Thanks

I think that is a GREAT idea! Either at the bottom of the list or on a different page altogether until they send the contract to ROFR.

 

[CarolA]

If I am selling I want my listing up until the deal is done! LOL! My house was listed until the contract was final so I think the TS does it right.

I have purchased one resale via them and one via another company. Both experiences were very good. (Attempted one via a third company and that was a DISASTER! Avoid Reid!)

 

[Disney Fanatic]

I can understand you wanting your listing displayed until the deal closes.

What I would like to see are the pending listings sorted out at the bottom of all their listings.

I have yet to see a real estate agent continue to list and actively advertise houses that are sold conditionally. You may see that for one week after the house sells but in our market, it does not continue much after that.

 

[DVCconvert]

Here's a thought that might work to satisfy everyone's perspective.

{LOL!! It took me so long to type this - a bunch of folks come out with it!}


TTS has a valid point in that until you get both buyer/seller to sign, and recieve the earnest money -- it's still a pending sale--as it not certain.

Folks looking to buy can be confused by looking at a long list - take for example OKW - and having to 'weed thru' to see which listings are current.

Tom, How about having your HTML people for your web site make a distinction on each resort page vertically. Say the bottom 1/3 of the OKW listing page might be in a different color to show that grouped together the below contracts are all pending.

If you understand what I'm suggesting?

Something like:

OKW 200 points $ 78 per point Oct UY 200 points coming 10/1/05
OKW 100 points $ 76 per point Dec UY 100 points coming 12/1/05
OKW 75 points $ 80 per point Apr UY 75 points coming 04/1/06
OKW 250 points $ 74 per point Aug UY 250 points coming 10/1/05
_________________________________________________

OKW 180pts SALE PENDING $ 75 pp Sept UY 180 points coming 9/1/05
OKW 50pts SALE PENDING $ 80 pp Apr UY 50 pts coming 4/01/06


Just a thought!