Need immediate advice

[ILoveMyDVC]

Must sell xxxx (removed) contract immediately due to extreme change in life circumstances. Who would you use for a contract that large?
Thank you

 

[AstroBlasters]

Must sell 520 pt. contract immediately due to extreme change in life circumstances. Who would you use for a contract that large?
Thank you

The board sponsor.

 

[Tatebeck]

Agree with https://www.dvcresalemarket.com

They tend to sell for the most, and if you are really in a time crunch they do offer the "instant sale" option where they will buy it from you instantly, but at a very low price.

 

[kanerf]

You could also rent the points out and perhaps make enough to pay your MFs for the year.

 

[DL1WDW2]

I used them a few years ago because I didn’t want to endure the negotiations .
Instant sale still requires ROFR and notarized signatures .
It is easier if you are the only contract owner.
They will give you an estimate online too .
I felt they were very fair and honest and easy to use.
Good luck

 

[byurick]

I used them a few years ago because I didn’t want to endure the negotiations .
Instant sale still requires ROFR and notarized signatures .
It is easier if you are the only contract owner.
They will give you an estimate online too .
I felt they were very fair and honest and easy to use.
Good luck

Keep in mind as the seller you pay both the closing costs and the commission too.

 

[MarkNC2Disney]

Keep in mind as the seller you pay both the closing costs and the commission too.

Someone over there should really reevaluate that… pay for the title company, estoppel, etc., but additional commissions on a digital tool is a bit rich. They’d get more volume too.

 

[airjay75]

Does instant sale with the site sponsor mean you actually get the money instantly or do you still have to wait for ROFR and closing? I don't know, but I'd ask them before going down that route.

Alternatively, I would think that if you list your contract close to the price the site sponsor will give you on an instant sale, the contract will move pretty fast even if it is large.

 

[airjay75]

Someone over there should really reevaluate that… pay for the title company, estoppel, etc., but additional commissions on a digital tool is a bit rich. They’d get more volume too.

I think the site sponsor would probably rather you list high so they can keep prices high and collect larger commissions. They don't care who pays the commission, but they do benefit if the contract sells for a higher price. And, if it takes a little longer to sell the contract, I think they'll take the larger commission over the instant sale.

I made a couple of low offers to listings on the site sponsor back in early June. Had some very nice conversations with one of their brokers. Their brokers are super nice people. But, I remember the broker gently suggesting in response to my low offers, well, I think this contract will eventually settle right about at $X/point. It was a little lower than the list price, but it was pretty clear to me that she was trying to set the expectation that the contract was worth that, and if I wanted it, that's what I needed to be prepared to pay. Can't say I blame them. They're in a business. And, they make money through volume and higher than average prices.

 

[ILoveMyDVC]

The board sponsor.

I use them to sell two other contracts that should have been no-brainers and easy and it was very difficult. I had to deal with a guy who thought he was a Disney character. And I got a lot of negative feedback from other people who had the same similar experience.

 

[ILoveMyDVC]

I think the site sponsor would probably rather you list high so they can keep prices high and collect larger commissions. They don't care who pays the commission, but they do benefit if the contract sells for a higher price. And, if it takes a little longer to sell the contract, I think they'll take the larger commission over the instant sale.

I made a couple of low offers to listings on the site sponsor back in early June. Had some very nice conversations with one of their brokers. Their brokers are super nice people. But, I remember the broker gently suggesting in response to my low offers, well, I think this contract will eventually settle right about at $X/point. It was a little lower than the list price, but it was pretty clear to me that she was trying to set the expectation that the contract was worth that, and if I wanted it, that's what I needed to be prepared to pay. Can't say I blame them. They're in a business. And, they make money through volume and higher than average prices.

Thank you for the thoughtful reply. I did not have a good experience with the sponsor. In fact one of their agents called to make a low ball offer when it had already closed with a real offer that was at the asking price for something I sold earlier this year.
The agent that sold it hadn't taken it down yet but had I taken those calls out of order, I could have potentially agreed to a far lower sale than the one that actually was guaranteed.

One of their sales people called me up at like 8 9 10:00 at night he continuing to text me nastier exchanges about how my contract was priced too high. There were eight or nine other contracts for the exact same resort for the exact same amount of points for the exact same date extension and mine was the cheapest already and he was sending me inappropriate text that night telling me I needed to lower the price when I was already the lowest one in their system. It would sell just a couple days later for the asking price.

 

[airjay75]

Thank you for the thoughtful reply. I did not have a good experience with the sponsor. In fact one of their agents called to make a low ball offer when it had already closed with a real offer that was at the asking price for something I sold earlier this year.
The agent that sold it hadn't taken it down yet but had I taken those calls out of order, I could have potentially agreed to a far lower sale than the one that actually was guaranteed.

One of their sales people called me up at like 8 9 10:00 at night he continuing to text me nastier exchanges about how my contract was priced too high. There were eight or nine other contracts for the exact same resort for the exact same amount of points for the exact same date extension and mine was the cheapest already and he was sending me inappropriate text that night telling me I needed to lower the price when I was already the lowest one in their system. It would sell just a couple days later for the asking price.

That sounds like a really awful experience, and can understand why you're hesitant to list with them again. I recently bought a contract through fidelityrealestate.com - the listing agent was Bonnie Krampe (https://www.fidelityrealestate.com/agent/bonnie-krampe/). She seemed pretty no-nonsense and straightforward to me. That said, I was the buyer so I don't know what the experience was like on the seller side. I do believe they charge a lower commission than dvceresalemarket.com.

Maybe have a conversation with a couple of brokers and make a decision after that?

 

[AstroBlasters]

I use them to sell two other contracts that should have been no-brainers and easy and it was very difficult. I had to deal with a guy who thought he was a Disney character. And I got a lot of negative feedback from other people who had the same similar experience.

Ask for a different broker… but that large of a contract is going to be hard to sell and you are going to want a lot of eye balls on it. The board sponsor has by far the biggest marketing operation and active user base in the industry.

 

[Mouseforward]

with a guy who thought he was a Disney character

He only sends the form emails now once a deal is reached. You do not really have to work with him.

 

[Mouseforward]

Ask for a different broker… but that large of a contract is going to be hard to sell and you are going to want a lot of eye balls on it. The board sponsor has by far the biggest marketing operation and active user base in the industry.

Exactly , this is business and it is a short term relationship, you can set your terms, ask for the agent you want. Tell them it is a firm price and they should not contact you with any lowball offers. Your not there to make friends.

Nothing beats exposure in this type of sale.

 

[DoubleBaconBLT]

Someone over there should really reevaluate that… pay for the title company, estoppel, etc., but additional commissions on a digital tool is a bit rich. They’d get more volume too.

If dvcforless started a resale agency with half the commission of the other guys, they would absolutely slay it. Literally take the entire market overnight. No one uses the individual brokers to shop anymore anyway, so they would already have 80%+ of interested buyers. By offering lower commission and that size of potential buyers, they would dominate.

 

[AstroBlasters]

Exactly , this is business and it is a short term relationship, you can set your terms, ask for the agent you want. Tell them it is a firm price and they should not contact you with any lowball offers. Your not there to make friends.

Nothing beats exposure in this type of sale.

On a 520pt contract…. I’m not sure how many buyers are out there for that size of contract… too many restrictions and it will just sit there…

 

[GGGT]

We've had good experiences with https://www.dvcbyresale.com/.

 

[muppets3d]

If you want instant money but not necessarily the most money you can always sell it back to DVC. They won't pay as much as you can make by selling privately however. But sometimes, instant money is more important than more money - I get that.

 

[airjay75]

If you want instant money but not necessarily the most money you can always sell it back to DVC. They won't pay as much as you can make by selling privately however. But sometimes, instant money is more important than more money - I get that.

Just curious, do you know if there a formal or informal process to do this other than ROFR? Is it just, you contact them and see what they say? I would presume it's probably a worse deal than what the site sponsor would do with an instant sale.