My experience with selling DVC contracts.

[tvwalsh]

Today, September 13, I received the last check for the sale of three DVC contracts. The first was a VB 25 pt, the second a HH 50 point, and the third a VB 45 point contract. the first was listed on June 9th, the second on June 10th, and the third on June 26th.

The VB 25 sold immediatetely for $77/point. The HH50 took 20 days to sell at $71.50/pt, and the VB45 sold in 5 days at $72/point.

The first check was sent to me on August 5th. The second was sent on Sept 5th, and the third was sent on Sept 10th.

From this experience I would say, allow about two to three months from listing to opening your check.

I used The Timeshare Store and was satisfied with their service. Their commission was 10%

I hope this information is helpful.

 

[bobbiwoz]

So, happy seller, happy buyers, and I suppose a happy broker too...all around pixie dust!

Bobbi

 

[tomandrobin]

So, happy seller, happy buyers, and I suppose a happy broker too...all around pixie dust!

Bobbi

 

[LIFERBABE]

Thank you for posting TV!

I was wondering about the process, as we have just started looking into downsizing.

Thanks so much for posting and I hope ours go as quick!

 

[Deb & Bill]

We posted three for sale on TTS website on Monday afternoon. We had a buyer for one on Tuesday morning, another buyer for a second on Thursday afternoon. The first one has gone to Disney for ROFR already.

 

[cgcw]

We are also in the process of looking to sell our contracts.

I'm curious as our guide mentioned to me a different resale company as to whether anyone has experience selling with someone other than The Timeshare Store. We sold one contact a couple years ago through them and it went smoothly.

Looking at the websites, it seems as if The Timeshare Store has a lot more listings than the other one.

I'd like to make the right decison up front so that we can be done with this mess called DVC quickly. It certainly isn't the same program that we bought into originally.

 

[tvwalsh]

We are also in the process of looking to sell our contracts.

I'm curious as our guide mentioned to me a different resale company as to whether anyone has experience selling with someone other than The Timeshare Store. We sold one contact a couple years ago through them and it went smoothly.

Looking at the websites, it seems as if The Timeshare Store has a lot more listings than the other one.

I'd like to make the right decison up front so that we can be done with this mess called DVC quickly. It certainly isn't the same program that we bought into originally.

More exposure, more listings, reasonable commission, no front money, plenty of testimonials why not TTS?

Also I'm sorry your DVC experience was not good. I am just going to replace my VB and HH points with Grand Califorian points. I am generally happy with DVC.

 

[Mtnman44]

Reasonable? I don't know about that. In real estate, most seller agent commisions are 3% and that involves a lot more work than posting a listing on the website. I'm sure that TSS is a great company but as a seller, I'm not sure I'd need to pay that to sell my contract. For them, it's like shooting fish in a barrel. You could easily list it on ebay for just a few bucks. There are plenty of reputable timeshare closing services (TSS use one) and $300 to $400 in closing services is a pretty standard fee, which the buyer normally pays anyway.

 

[tvwalsh]

The total commission on the sale of all three of my contracts was less than $800. There was a LOT of paperwork! I do think the 10% commission was reasonable.

 

[JimMIA]

I'm curious as our guide mentioned to me a different resale company ...

Yep...it's amazing what Disney will recommend for 50% of the commission! You might want to do a search on that broker your guide recommended and see what you find.

As far as the amount of the commissions, we have to realize that 10% of $20,000 is still one heckuva a lot less than 3% of $500,000 or whatever a typical house sells for in your neighborhood. Sure, the percentage is higher, but most realtors wouldn't bother with a $20,000 sale for any percentage of commission.

You can also sell a contract yourself if you want, but if I were either buying or selling, I'd be doing it through TTS.

 

[cgcw]

More exposure, more listings, reasonable commission, no front money, plenty of testimonials why not TTS?

Thanks for sharing your experience.

 

[mla973]

Thanks for the sales info.

Not to get off topic, but wow! - is 3% standard in your area for selling residential real estate? I have been investigating selling my house, and I'm hearing 7% as the standard around here. I'm having trouble swallowing that number, as what else happens besides a listing on a website? Most of the open houses are handled by junior agents anyway.

 

[tomandrobin]

Geez, all of you selling your contracts!

I guess it'll happen to all of us eventually.

 

[Mtnman44]

I listed a timeshare on Ebay (not a DVC, which would've been even easier to sell I think). The listing was for the deposit only. After the ebay sale finished, I collected the deposit and the buyers information. provided this info online to the timeshare service company along with the sale terms and they took it from there. Sent out the buyer and seller paperwork, handled the resort transfer and the closing and deed stuff. Buyer paid the bulk of the purchase directly to the timeshare closing company/escrow. Buyer also paid the $300 closing services cost charged by the title company. At closing, they sent me a check with my net sale proceeds.

Total cost to me, less than $20 in ebay fees and comissions and about $50 in various gov't fees/taxes associated with deed transfer.

The total commission on the sale of all three of my contracts was less than $800. There was a LOT of paperwork! I do think the 10% commission was reasonable.

 

[cristbaby]

How come so many people are selling?

 

[Doctor P]

Thanks for the sales info.

Not to get off topic, but wow! - is 3% standard in your area for selling residential real estate? I have been investigating selling my house, and I'm hearing 7% as the standard around here. I'm having trouble swallowing that number, as what else happens besides a listing on a website? Most of the open houses are handled by junior agents anyway.

There was an article about this in the Chicago Tribune a while ago. Many buyers are convinced that there is a standard comission and that it is 6-7%. Many agents try to convince people of this. The Tribune article, quoting real estate experts, said that reputable agents are now competing and that the average buyer should generally not be paying more than 2-3% in today's real estate market, with a floor of a couple thousand dollars. Sellers should insist on this based on their advice. They said that if sellers are firm and don't get freaked out, that a reputable agent will bite on a contract offer of this type if one is patient. Their claim, as I recall, is that the industry is much less labor intensive than before, has significantly less overhead, and is much more competitive.

 

[SoCalKDG]

There was an article about this in the Chicago Tribune a while ago. Many buyers are convinced that there is a standard comission and that it is 6-7%. Many agents try to convince people of this. The Tribune article, quoting real estate experts, said that reputable agents are now competing and that the average buyer should generally not be paying more than 2-3% in today's real estate market, with a floor of a couple thousand dollars. Sellers should insist on this based on their advice. They said that if sellers are firm and don't get freaked out, that a reputable agent will bite on a contract offer of this type if one is patient. Their claim, as I recall, is that the industry is much less labor intensive than before, has significantly less overhead, and is much more competitive.

There is usually two agents involved. The sellers agent, plus the buyers agent. The seller is usually responsible to both agents. Thus final commision runs 4-6%. Home sales are additionally taking twice as long this year as last to sell with the average up to approx. 6-7 months.

 

[Doctor P]

There is usually two agents involved. The sellers agent, plus the buyers agent. The seller is usually responsible to both agents. Thus final commision runs 4-6%. Home sales are additionally taking twice as long this year as last to sell with the average up to approx. 6-7 months.

Uhhh....I know all that. The TOTAL commission is what they were talking about. And, agreed, things have changed as the market has changed, so their argument may not bear as much fruit.

 

[Mike©]

Geez, all of you selling your contracts!

I guess it'll happen to all of us eventually.

How come so many people are selling?

I for one have found that by buying DVC I traded "The Disney Magic" for a cheap deluxe room. Just not worth the savings to me

 

[Orelover]

We are also in the process of looking to sell our contracts.

I'm curious as our guide mentioned to me a different resale company as to whether anyone has experience selling with someone other than The Timeshare Store. We sold one contact a couple years ago through them and it went smoothly.

Looking at the websites, it seems as if The Timeshare Store has a lot more listings than the other one.

I'd like to make the right decison up front so that we can be done with this mess called DVC quickly. It certainly isn't the same program that we bought into originally.

You'r not alone here, I feel the same DVC has changed and I sorry to say it's not all for the better. Good info here about selling. I'll be sure to check back, our points will be up soon I fear, 1 last trip in Nov.