My contract isn't selling :-(

[LisaS]

If you buy from Disney, the resorts you can "buy into" are BLT, SSR, and AKV. BLT may be sold out, I'm not sure. Resales can save you $ on the up front purchase price, and you can buy into a resort that is currently sold out.

You can purchase any DVC resort directly from Disney. BLT, SSR, AKV and Aulani are the resorts they are actively marketing but you can also purchase the "sold out" resorts from Disney though you may have to go on a waiting list for some UYs at some resorts. Disney reacquires points at "sold out" resorts due to ROFR and foreclosures.

These resorts also have earlier end dates to the contract as well.

OKW owners were offered the option to extend their contracts to Jan 31, 2057 so there are some OKW contracts available with longer end dates. If you purchase OKW directly from Disney, you will get an extended contract. If you purchase OKW on the resale market, it could be either an extended or an unextended contract (Jan 31, 2042).

 

[TwistGrl101]

Where is the best place to look for resales?

 

[Mousewerks]

Where is the best place to look for resales?

Google

 

[ToddyLu]

There are four main resalers. The two I can mention here are The Timeshare Store and Fidelity.

 

[suncup1225]

Thanks everyone for the advice. I have lowered my price but am getting constantly lowballed...like 75pp for the monorail resort...it's kind of ridiculous. My contract isn't all that stripped most of next years points are coming but there is also a ton of points that can be banked! Oh well I guess it's just not a good time to sell. I am willing to negotiate not willing to make money but also not willing to lose what we owe. So thanks a ton for all of the advice and if you are all praying people pray for us! Thanks for the good luck on the baby too! Our princess will arrive in about a month!!!

 

[JimMIA]

Thanks everyone for the advice. I have lowered my price but am getting constantly lowballed...like 75pp for the monorail resort...it's kind of ridiculous. My contract isn't all that stripped most of next years points are coming but there is also a ton of points that can be banked! Oh well I guess it's just not a good time to sell. I am willing to negotiate not willing to make money but also not willing to lose what we owe.

BLT is selling and clearing ROFR between $80 per point and the low-$90's. So although $75 is too low, it IS in the negotiable range.

However, math also has to enter into the equation. First of all, you're going to pay an average of 10% commission off the top and some minor additional fees when you sell. And then, you have to pay off any loan you have against the contract.

If your proceeds aren't enough to cover the commission and the loan, you will have to PAY IN to close. That's not a deal-breaker in itself (because you'll be shedding the monthly payment), but that depends on whether you can pay in to close.

So thanks a ton for all of the advice and if you are all praying people pray for us! Thanks for the good luck on the baby too! Our princess will arrive in about a month!!!

Worst case scenario, you have a beautiful son and a princess on the way. Take it from this Dad...princesses are priceless.

 

[JimMIA]

Also, I see in your signature that you have a trip planned in 9 months. If you already have a reservation with this contract, you are going to have to either cancel the reservation or delay closing until after your vacation.

Delaying closing might not be a realistic option, because not many prospective buyers would wait 9 months to close. Just too many things can go wrong in that scenario.

Whatever you decide, good luck!

 

[cel_disney]

Have you considered renting your DVC points instead of selling? With a princess on the way, you may find that in a year or two, you will be wishing to have your DVC back!! Try out David's service!

 

[Brian Noble]

also not willing to lose what we owe

Depending on what your remaining balance is, this might not be a realistic requirement.

 

[DisneyokwSSR]

Bingo!

As someone who bought resale recently (money is sitting at the Title Company, waiting for the sellers to get their notarized documents in), I can tell you what I was looking for: I wanted the resort I wanted first (BLT, no consideration for any other), but equally important was being able to use two years of points for a 2012 vacation. This eliminated a lot of listings where people had already borrowed their 2012 usage. I had no interest in putting my money up now, but waiting two years to get my full usage.

Price is probably a secondary concern for many resale buyers.....most are not financing and have enough cash to buy outright....so the difference in a few dollars a point is not a big deal on a 30+ year commitment. And they likely have a 2012 vacation in mind when buying. I immediately threw out contracts that were stripped, no matter the price.

So bottom line is if your contract is stripped of 2012 usage, I wouldn't count on it selling until your much closer to the points being available.

I ended up buying a contract a little above the going price because the contract was loaded with currently usable points: the sellers banked 2010 points (have to use by end of March 2012), plus I had them bank the 2011 points into 2012.

I agree. I curently have a BLT contract pending ROFR. There were a lot of stripped contracts out there that we would not consider. I too ended up paying a little above the going price to get 2010, 2011, and 2012 points.

 

[bakerworld]

I am a current DVC owner and need to sell due to family changes (AKA another baby on the way) I am listed with a great company, they say I have the right price...is the market just that saturated with listings? Now I am even more concerned with the announcement of Grand Floridian DVC...is there anything I can do to speed the process? I was really hoping for our contract to sell before the end of the year

2 kids - keep it - you'll be sorry you thru it away - figure out how many pts you need to rent to pay the dues and bank the rest until next year.

 

[suncup1225]

BLT is selling and clearing ROFR between $80 per point and the low-$90's. So although $75 is too low, it IS in the negotiable range.

However, math also has to enter into the equation. First of all, you're going to pay an average of 10% commission off the top and some minor additional fees when you sell. And then, you have to pay off any loan you have against the contract.

If your proceeds aren't enough to cover the commission and the loan, you will have to PAY IN to close. That's not a deal-breaker in itself (because you'll be shedding the monthly payment), but that depends on whether you can pay in to close. Worst case scenario, you have a beautiful son and a princess on the way. Take it from this Dad...princesses are priceless.

We are lucky in that we actually were able to borrow the money from my inlaws to finance so we are not paying interest on the loan. We are willing to take a small loss but not huge...We also cancelled the vacation in 9 months before listing the membership because we didn't want people to be steered away from our listing. I guess our contract looks stripped we have 90 some points for this year and 100ish for next...but I wonder if people know they can bank this years points...Oh well lowered the price again today hoping to get some offers. I like your princesses are priceless quote!!! Thanks for all of your help!

 

[suncup1225]

Have you considered renting your DVC points instead of selling? With a princess on the way, you may find that in a year or two, you will be wishing to have your DVC back!! Try out David's service!

This is actually our next step if the contract doesn't sell in about a month or so! Thanks for the advice!

 

[DopeysGal82]

This is actually our next step if the contract doesn't sell in about a month or so! Thanks for the advice!

I would think about this. The way we figured the math, if all of your points rent out, you can make make your dues and then some.

 

[KAT4DISNEY]

This is actually our next step if the contract doesn't sell in about a month or so! Thanks for the advice!

Have you thought about listing it with another broker as well? I think all of them allow for open listings and not all buyers know of all the brokers - or they just have their preference for who they will use.

 

[MSUmom]

I think this has been covered but as a recent (hopefully) buyer, If the points weren't available now - I didn't look at it. Why bother. I only looked at ones that had points built up. So not only did I pay for the year's points I received an extra 2 years worth.

 

[DVCconvert]

My contract isn't selling :-(

Drop the price. It's a buyers market.

 

[suncup1225]

Well everyone...after dropping the price...Christmas came 2 days early for us! The contract sale is now pending as of today!!! As soon as we send in our signed contract it will go to ROFR so hopefully Disney accepts the contract! Whomever bought this is truly our Christmas Angel! We feel a huge weight lifted off of our shoulders! Thank you to everyone who helped us through this thread with comments and suggestions! You all are great and we appreciate your opinions and honesty! Merry Christmas and happy new year!!!

 

[jekjones1558]

Well everyone...after dropping the price...Christmas came 2 days early for us! The contract sale is now pending as of today!!! As soon as we send in our signed contract it will go to ROFR so hopefully Disney accepts the contract! Whomever bought this is truly our Christmas Angel! We feel a huge weight lifted off of our shoulders! Thank you to everyone who helped us through this thread with comments and suggestions! You all are great and we appreciate your opinions and honesty! Merry Christmas and happy new year!!!

Merry Christmas!

 

[dbs1228]

Yea! Glad it is all working out for you! Enjoy the little one(s) time sure does fly! Merry Christmas.