Need immediate advice

[CaliAdventurer]

Don’t despair. Some folks love big contracts and I’m one of them. I actually search contracts highest points to lowest. BUT, some of that is the discount for coming in with a hefty chunk of change…

 

[JackosinDIS]

Don’t despair. Some folks love big contracts and I’m one of them. I actually search contracts highest points to lowest. BUT, some of that is the discount for coming in with a hefty chunk of change…

I like big contracts and I can not lie…

 

[Ruttangel]

DVC contracts are just not liquid assets for a sale, 2-3 months to get your funds at best
I would rent as much as possible and look at alternatives
If you have none then I’m in the process of selling my 3rd contract with www.dvcsales.com Mark and Lori are great and low 6.9% commission
Access to aggregators helps reduce the need to go to board sponsor, who I also had a terrible time with when selling, very poor advice given which they had to compensate me for

 

[ILoveMyDVC]

Don’t despair. Some folks love big contracts and I’m one of them. I actually search contracts highest points to lowest. BUT, some of that is the discount for coming in with a hefty chunk of change…

Thank you - good to know. I am hoping to sell (completed) before January. I have some runway.

 

[ILoveMyDVC]

Just learned I cannot sell until after a March reservation that cannot be cancelled. So now I lose xxxx(can’t post size of contract) times whatever crazy number DVD decides for dues next year times 12 mos. Likely cannot break even. Commissions are 8-9%. I've had the contract for a few years and still can't break even. Nightmare

 

[ShaneDJ]

Just learned I cannot sell until after a March reservation that cannot be cancelled.

You could cancel your DVC reservation and then rebook the trip with cash (hotel rack rates), then you'd be free to sell your DVC contract ASAP to avoid paying the annual dues.

Why doesn't that work?

 

[airjay75]

Renting points would be another idea for the March trip.

 

[pzw90]

You are in the 1000 point thread with one home resort. In your original post the size of this contract doesnt look to be your entire holdings, do you have multiple memberships? Can you cancel, transfer points, and rebook?

 

[MerlinandtheMouse]

Just learned I cannot sell until after a March reservation that cannot be cancelled. So now I lose 520 times whatever crazy number DVD decides for dues next year times 12 mos. Likely cannot break even. Commissions are 8-9%. I've had the contract for a few years and still can't break even. Nightmare

I’m sorry you’re in this situation:/ but unfortunately DVC isn’t an investment- it was almost always going to depreciate. It’s nice you’ll still be able to sell pretty quickly and hopefully make most of your money back after using it and going on trips for quite a few years. You could also make it a condition that the buyer pays the dues so it’s not like you have to pay next years dues, especially if you don’t use the points.

 

[muppets3d]

You could cancel the reservation and either rent points or pay cash for a room and that would allow you to sell sooner.

 

[muppets3d]

It’s not a nightmare. A “nightmare” would be that you couldn’t sell it at all and you were stuck with dues to a place you didn’t want to go and that no one else would pay you to let them go in your place.

As in; pretty much any other timeshare product except Disney and maybe 3 others.

 

[toesmom]

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

I think any of the bigger resale sites can sell your contract as long as it is priced well. So you ultimately have control to sell based on price you agree to.

 

[Former DVC Owner]

Hey guys I have a question about etiquette around here. I owned two DVC memberships/contracts whatever you call them several years ago and I'm looking to get back into it. I have questions but I didn't want my first post to be a new thread if that's frowned upon. So should I wait a couple months until I get some activity under my belt or should I just go for it and open a new thread? What is the expectation?

edit: I also realize I may be frowned upon for writing in someone else's thread but I wasn't sure what was worse, responding here or creating a new post so I went with this idea.

 

[JackosinDIS]

Hey guys I have a question about etiquette around here. I owned two DVC memberships/contracts whatever you call them several years ago and I'm looking to get back into it. I have questions but I didn't want my first post to be a new thread if that's frowned upon. So should I wait a couple months until I get some activity under my belt or should I just go for it and open a new thread? What is the expectation?

edit: I also realize I may be frowned upon for writing in someone else's thread but I wasn't sure what was worse, responding here or creating a new post so I went with this idea.

Go for it and post your own thread! People are very happy to help with questions around here.

 

[CarolynFH]

Hey guys I have a question about etiquette around here. I owned two DVC memberships/contracts whatever you call them several years ago and I'm looking to get back into it. I have questions but I didn't want my first post to be a new thread if that's frowned upon. So should I wait a couple months until I get some activity under my belt or should I just go for it and open a new thread? What is the expectation?

edit: I also realize I may be frowned upon for writing in someone else's thread but I wasn't sure what was worse, responding here or creating a new post so I went with this idea.

Go for it! As Jack says, people here will love to help you get back into DVC. I don’t know how long ago you owned, but there have definitely been changes you need to learn about.

 

[Sandisw]

Some post have been deleted simply because they included a quote from a post that needed to be edited.

 

[DoubleBaconBLT]

As in; pretty much any other timeshare product except Disney and maybe 3 others.

What are the three others? I've only ever heard of Disney being different, and all the others are borderline scams.

 

[DoubleBaconBLT]

Just learned I cannot sell until after a March reservation that cannot be cancelled. So now I lose xxxx(can’t post size of contract) times whatever crazy number DVD decides for dues next year times 12 mos. Likely cannot break even. Commissions are 8-9%. I've had the contract for a few years and still can't break even. Nightmare

1. You might not break even on the sale, especially because resale prices were a lot higher 2-4 years ago. Just remember that you also saved a lot on the points you used over that stretch. I'm sorry you're in this situation.

2. Your March reservation can still be canceled without penalty or points going into holding. That doesn't kick in until 31 days out from check in day. Canceling it would free you up to sell unencumbered. If the March stay is using 2026 points, most buyers would expect you to pay the dues on those points anyway. You could rebook with cash, or rent points to use for that stay.

3. You could post it for sale now, explain in the listing that it cannot close until after March xx, and say that you're willing to accept a lower price as a result. There are people out there who would be willing to pay now for it even though they wouldn't close until March - if the price was right.

4. You could rent out the 2026 points. Most resorts will rent for 1.2x to 2x the cost of the dues. That might give you more time or flexibility to sell at a good price. You could even consider just renting out the points it would take to cover the dues. So if the contract had 150, you might only need to rent 90 to cover the dues. Then you could use the 60 left for your March stay, and sell afterward.

 

[Genie+]

3. You could post it for sale now, explain in the listing that it cannot close until after March xx, and say that you're willing to accept a lower price as a result. There are people out there who would be willing to pay now for it even though they wouldn't close until March - if the price was right.

I don’t think a broker or personal sale would accept those terms even at low price.

Seller does not get the money before it closes. Usually the buyer will put a deposit down that gets held in escrow. If there’s a delayed closing due to a trip, that trip must happen before it can be sent to RoFR. Typically buyer does not send the balance until RofR passes.

The risk of giving the money to the seller before rofr or closing is it does not yet legally belong to the new owner. What if for some reason the seller did not complete all the final paperwork and wouldn’t/couldn't give the money back? That would be a lengthy legal mess with risk of more time/expense for what could still be a horrible outcome.

 

[airjay75]

You can do a delayed closing, but you're not getting paid until it closes, and any halfway intelligent buyer isn't going to send their money until the contract is ready to close. I recall a number of contracts listed this past June with late December closings, so over 6 months from the date of listing. Of course, a delayed closing is going to further limit your potential buyer pool, as many buyers won't be interested in waiting that long to get their points. If OP cannot cancel their reservation, I think waiting to list the contract would be a better course of action, particularly since it is a large contract and the potential buyer pool will already be more limited.