Not ROFR thread - general discussion

[Chili327]

What is the etiquette for making multiple offers on different contracts within a particular brokerage or varying multiple brokerages? Are you supposed to only make one offer at a time and hope that the broker gets back to you in a timely manner, or if there are a few or handful that you are interested in, is it appropriate to make multiple at once and then finalize with the one that you can work an acceptable deal with first? That might leave you having to tell someone that accepted one of your offers, "Sorry, I've accepted another since I made that offer" which seems bad form. I appreciate any feedback.

I would also call the broker after submitting the offer. Let them know you are looking at multiple contracts.

Yes, there is no rule... I would definitely make an offer on anything I was interested in, but also a very good idea to let them know you have done so on multiple. Have you found THAT many good ones, that it is urgent to offer on that many at once? (you lucky dog, i can't find any when the time is right. lol)

 

[Perelandra]

This is helpful. Thank you! I have found a couple that I would consider good, and then a couple more that could be good if they would accept my crazy, lowball offer, lol. You won’t get what you don’t ask for.

Yes, there is no rule... I would definitely make an offer on anything I was interested in, but also a very good idea to let them know you have done so on multiple. Have you found THAT many good ones, that it is urgent to offer on that many at once? (you lucky dog, i can't find any when the time is right. lol)

 

[supercarrie]

BLT and AKV are relatively good values at the moment--as they are both in refurb years. After the refurb, I expect both to bounce up a little in price (more so BLT than AKV, but I think both will move in that direction). A couple years ago I bought AKV for $80/point. And I saw some contracts go for less. My BLT contracts I bought last year for $115/point (both contracts). BLT is closer to its lows than is AKV--for what that's worth. But also there are very, very few well-priced contracts on the resale market right now. And when something halfway decent shows up, it's gone within a day or two. (There's hundreds of poorly priced contracts out there, however.)

Biggest regret since buying DVC is not going for a slightly larger BLT contract. We only have 100 points and I knew in my gut I'd want more after the refurb, but leaping into DVC was scary for my husband. Looking for decent smaller sized contracts in our UY is impossible right now!

 

[Chili327]

Biggest regret since buying DVC is not going for a slightly larger BLT contract. We only have 100 points and I knew in my gut I'd want more after the refurb, but leaping into DVC was scary for my husband. Looking for decent smaller sized contracts in our UY is impossible right now!

Yep... I have 61 & could probably use another 60-100.

 

[atthebeachclub]

Biggest regret since buying DVC is not going for a slightly larger BLT contract. We only have 100 points and I knew in my gut I'd want more after the refurb, but leaping into DVC was scary for my husband. Looking for decent smaller sized contracts in our UY is impossible right now!

Sell what you have and buy a 160 pointer! There are tons of them and they are not that expensive.

I own 160 and it took me like eight months to finally find a paired 50 pointer.

 

[AstroBlasters]

Sell what you have and buy a 160 pointer! There are tons of them and they are not that expensive.

I own 160 and it took me like eight months to finally find a paired 50 pointer.

Oof… but the 9.25% commission and another round of closing costs…

 

[atthebeachclub]

Oof… but the 9.25% commission and another round of closing costs…

Agreed. But…hopefully you bought low. I broke even almost exactly on my AKV that I resold, even with transactional costs. Actually made a few hundred.

 

[TCRAIG]

Oof… but the 9.25% commission and another round of closing costs…

Check with other DVC Resale companies - not all are using 9.5%.

 

[Perelandra]

Oof… but the 9.25% commission and another round of closing costs…

If you buy an add on, you will have the added closing costs anyway, but the commission and the added time of selling it to an already ridiculously long process is rough. I would just buy the add on. Given one becomes available in the right use year.

 

[Perelandra]

Biggest regret since buying DVC is not going for a slightly larger BLT contract. We only have 100 points and I knew in my gut I'd want more after the refurb, but leaping into DVC was scary for my husband. Looking for decent smaller sized contracts in our UY is impossible right now!

Me too. I bought 110 points in January, still waiting on the points, and I’m already wishing I had bought 160. Now adding 50-100 points is going to double my closing costs. I thought I was maxing out what budget I was comfortable with at the time, and now I’ve convinced myself to spend more but also cost myself extra money by not just doing it in the beginning.
I’m also tempted to get more points for less at SSR. I owned there in the past but almost never stayed there. Had great luck at 7 month window. I’m just nervous that may not always be the case and I don’t really want to stay there when I’m putting so much money into it, even though I do think it’s a lovely resort, just prefer others.

 

[Sandisw]

Oof… but the 9.25% commission and another round of closing costs…

Remember, you can try and negotiate if you buy and sell at the same time!

 

[AstroBlasters]

Remember, you can try and negotiate if you buy and sell at the same time!

Did not know that….

 

[Sandisw]

Did not know that….

Oh yes! I have done it twice now!!! I think I got like a 2 or 3% discount off going rate!

 

[Chili327]

If you buy an add on, you will have the added closing costs anyway, but the commission and the added time of selling it to an already ridiculously long process is rough. I would just buy the add on. Given one becomes available in the right use year.

If it wasn’t almost at VGC prices I might just add 50 direct. lol

Oh yes! I have done it twice now!!! I think I got like a 2 or 3% discount off going rate!

Interesting… Tempting for sure, but I really love having multiple option to sell off if needed.
Great info to know though!

 

[Sandisw]

If it wasn’t almost at VGC prices I might just add 50 direct. lol


Interesting… Tempting for sure, but I really love having multiple option to sell off if needed.
Great info to know though!

I have done through a lot of buy and sell but thankfully those days are over! No need to go beyond 900!!!

 

[supercarrie]

Sell what you have and buy a 160 pointer! There are tons of them and they are not that expensive.

I own 160 and it took me like eight months to finally find a paired 50 pointer.

Ooh thank you for this idea!! We bought low-ish ($120) but I know BLT has appreciated a bit in the last few months. We also have used a year's worth of points, obviously too. Something to think about perhaps in another year or so, depending on where contract pricing goes.

We are also still new-ish to DVC, so my husband has suggested he would like to stay at a few more resorts before adding on further, which makes sense to me. He is the logical stop to my add-on-itis.

Remember, you can try and negotiate if you buy and sell at the same time!

Thank you for sharing this! Definitely something to think about.

 

[atthebeachclub]

If you buy an add on, you will have the added closing costs anyway, but the commission and the added time of selling it to an already ridiculously long process is rough. I would just buy the add on. Given one becomes available in the right use year.

I’m probably crazy but am buying and selling concurrently.

Put in a bid on what I truly wanted when it showed up on the market, and had listed my selling contract on the market within hours, with an accepted offer right away. I priced it fairly, and I knew it. Now I’m just hoping both buying and selling finish with no issues. So far so good; fingers crossed.

 

[SheSingsAlong]

Can I complain for a moment? Had an offer accepted for a contract selling through https://www.dvcresalemarket.com/ and it is like pulling teeth to get a proper contract. First they told me Magic Vacation Title would be my title company and I said "No, I am paying closing and I choose a different title company". Their response was this weird "you won't get our point guarantee which no one else offers" and I looked at the first contract they sent - it was basically the boilerplate "if the points in the sale were misrepresented, then buyer is owed $X per missing point" except it said the broker would pay the buyer and then the seller owes the broker that same amount. In my first resale process, that same language was in the contract, but simplified to "seller owes buyer $X per missing point". So I figure they're not actually offering me anything that other broker's don't, they've just shoe-horned themselves in the middle of the process. They send me the updated contract correctly reflecting the title company of my choice and now there is NO clause indicated if points are missing at the end of the sale then the seller owes the buyer restitution. I'm not crazy right? That clause should be in every resale contract.

 

[jolynne28]

Can I complain for a moment? Had an offer accepted for a contract selling through https://www.dvcresalemarket.com/ and it is like pulling teeth to get a proper contract. First they told me Magic Vacation Title would be my title company and I said "No, I am paying closing and I choose a different title company". Their response was this weird "you won't get our point guarantee which no one else offers" and I looked at the first contract they sent - it was basically the boilerplate "if the points in the sale were misrepresented, then buyer is owed $X per missing point" except it said the broker would pay the buyer and then the seller owes the broker that same amount. In my first resale process, that same language was in the contract, but simplified to "seller owes buyer $X per missing point". So I figure they're not actually offering me anything that other broker's don't, they've just shoe-horned themselves in the middle of the process. They send me the updated contract correctly reflecting the title company of my choice and now there is NO clause indicated if points are missing at the end of the sale then the seller owes the buyer restitution. I'm not crazy right? That clause should be in every resale contract.

I would not be ok with it being left out. But as to whether or not this is normal practice, I don’t know so I’ll let others with more knowledge/experience answer. IMO it’s simply their way of forcing you to use their preferred title co. But I have no idea what the actual risk is of not having their “point guaranty”. How many people have received funds b/c points were misrepresented is an unknown.

 

[Sandisw]

Can I complain for a moment? Had an offer accepted for a contract selling through https://www.dvcresalemarket.com/ and it is like pulling teeth to get a proper contract. First they told me Magic Vacation Title would be my title company and I said "No, I am paying closing and I choose a different title company". Their response was this weird "you won't get our point guarantee which no one else offers" and I looked at the first contract they sent - it was basically the boilerplate "if the points in the sale were misrepresented, then buyer is owed $X per missing point" except it said the broker would pay the buyer and then the seller owes the broker that same amount. In my first resale process, that same language was in the contract, but simplified to "seller owes buyer $X per missing point". So I figure they're not actually offering me anything that other broker's don't, they've just shoe-horned themselves in the middle of the process. They send me the updated contract correctly reflecting the title company of my choice and now there is NO clause indicated if points are missing at the end of the sale then the seller owes the buyer restitution. I'm not crazy right? That clause should be in every resale contract.

It is not always there with every contract. I have read that some have had to ask it be added.

The difference with this contract vs others that might have is that the broker is guaranteeing the payment. Sellers are often paid before the points load, which means, if missing, you have to go after the seller.

Title companies certainly help, but if the seller doesn’t pay or is delayed in paying, you wait until they do.

This broker/title company would pay you immediately and then they deal with the seller. So, it is a better guarantee than others.

Not saying it’s a reason to not choose your own title company.