Might need to sell, any advice or info???

[N&B'smom]

Thanks to the FABULOUS economy we may be selling our points for VWL. I'm absolutely heartbroken but you gotta do what you gotta do. So....where can I get information about the process?

 

[Song of the South]

Sorry to hear your bad news. I've never sold so this is just regurgitation of what I have read here and my owns thoughts regarding a plan should we ever need to sell.

1) Is renting for awhile possible? If you have points available to rent you can get about $10 per point from most of the brokers and a little more if you do all the work and listing. This might carry you through until a better financial situation is forthcoming. Plus, in the end you'll still have your points! If you don't have points to rent, you are going to have a really hard time selling (why would anyone buy something now that they cannot use for a year or two?)

2) If you are going to sell list with all 4 of the big companies because more exposure will likely mean more offers!

3) Figure out what your bottom number is. If you financed figure in your loan payoff and any other closing fees (possibily closing costs and maintenance fees). Either price at current final offer rates with the word "firm" attached or build negotiation room into your price.

4) One thing that just occurred to me, it might be worthwhile, if you absolutely have to sell and don't have current UY points to transfer in points so you are a more attractive package. I'm not saying I think you'll recoup your outlay with a higher price but if the choice is not selling at all or selling because you have current points, it might be worth the expenditure.

Good luck! I really hope you get in a better financial position so you don't have to sell. If you do sell I wish a smooth process and a satisfactory price.

SotS

 

[awilliams4]

You may have already evaluated this but I 2nd the idea of giving renting a try. It will cover your maintenance fees and then some.

The TimeShare Store is a good place to sell your contract if you have to though.

 

[luckyman_apd]

Without knowing the specifics of your situation, I would try renting the points with Davids rentals. I'm new to this and am just buying in, so take it with a grain of salt. I can see if it's financed and you need to get out from the payments.

For me, knowing there is a service like David's rentals out there gave me some confidence that if I get tired of Disney in the future, I can take a break for view years, and rent the points out. As long as I get enough to break even on the rental, I don't have to pay (assuming it's not financed) and I get to keep it for the future. Right now this year my break even is a little more than $6 per point so I would rent until you can afford to go again. Good luck to you in your decision and in the future.

 

[chalee94]

if you've decided to sell, here's one short answer:

http://www.dvc-resales.com/contact.htm

expect to pay around 10-12% commission on the sale price. it's a tough market - especially if you have a larger contract. take a look at the ROFR thread to get an idea of what similar contracts have been selling for:

http://www.disboards.com/showthread.php?t=2661661&page=122

 

[JimMIA]

if you've decided to sell, here's one short answer:

http://www.dvc-resales.com/contact.htm

expect to pay around 10-12% commission on the sale price. it's a tough market - especially if you have a larger contract. take a look at the ROFR thread to get an idea of what similar contracts have been selling for:

http://www.disboards.com/showthread.php?t=2661661&page=122

What Charles said.

If you've financed, you need to understand that selling a timeshare is just like selling a house -- the mortage on the original purchase has to be paid off at closing. If the selling price, less commission and minor other selling costs, is not enough to pay off the mortgage...you will not only not receive money at closing -- you'll have to pay IN.

Hopefully, you'll not be in that boat.

We've bought twice and sold twice using TTS (recommended by Charles with the link above) and strongly recommend them. They're just professional to the bone.

 

[tomandrobin]

Sorry to read about your situation to sell. Hopefully everything will work out for you in the end.

 

[N&B'smom]

Thank you all for the information. I really appreciate it. We paid it off when we purchased so there's no financing involved....at least that's one less thing we need to worry about.