Now it's time to say goodbye

[stewart715]

Why are pending reservations looked down upon? Does it affect the ROFR process?

Because the overall number of points being sold is in the contract and if anything were to change or go wrong with reservation, that would change. You would then also be staying on someone else's points after the contract sells. I'm not even sure you can have a reservation pending and attempt to sign the points away. Pretty sure, DVC closes everything out.

 

[crvetter]

Because the overall number of points being sold is in the contract and if anything were to change or go wrong with reservation, that would change. You would then also be staying on someone else's points after the contract sells. I'm not even sure you can have a reservation pending and attempt to sign the points away. Pretty sure, DVC closes everything out.

Correct you can’t close on a contract until all reservations have been completed.

 

[Marionnette]

Why are pending reservations looked down upon? Does it affect the ROFR process?

You cannot close with a pending reservation. During the estoppel process, DVC verifies that the number of points in the contract are the same as those represented in the sale. The contract will not pass thru estoppel if there is a reservation pending. Which means that the sale cannot close. Sellers will sometimes list a contract as “Can close after dd/mm/yy” if they have a reservation in the future.

 

[Katie2]

You cannot close with a pending reservation. During the estoppel process, DVC verifies that the number of points in the contract are the same as those represented in the sale. The contract will not pass thru estoppel if there is a reservation pending. Which means that the sale cannot close. Sellers will sometimes list a contract as “Can close after dd/mm/yy” if they have a reservation in the future.

Correct. Does the fact that there is a pending reservation and a delayed closing affect the ROFR 30 day timeline?

 

[Marionnette]

Correct. Does the fact that there is a pending reservation and a delayed closing affect the ROFR 30 day timeline?

DVC does not have to adhere to a 30-day timeline. They can choose to delay ROFR based on the delayed closing date.

Article 13.1 of every DVC resort's Declaration of Condominium states that a resale contract must be sent to Disney no less than 30 days prior to closing and that Disney has until the closing date to exercise their right....this is not the same as having 30 days to respond, which is is often stated on these boards.

 

[jlb727]

I think Disney does what's best for Disney. So if they want to move fast on ROFR, they will. If they need to move slowly, they will.

I think the speed of the decision of ROFR doesn't have much to do with a pending reservation (though it could), but it's more about when Disney issues the estoppel on the title. Usually that happens 2-3 weeks after ROFR passes, but if there's a reservation pending, they will wait until that reservation clears.

 

[CarolMN]

Nope. Still redacted.

@stewart715 Any way to find out the reason for something being blocked?
Maybe they are terrible and I just got lucky with my experience.

I actually wonder the same thing myself. There are a few others that are redacted that the reason isn’t clear to me.

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[stewart715]

From the DIS POSTING GUIDELINES:

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Thanks for clarification. Understandable.

 

[kniquy]

To DVC. We currently own at Poly and Copper Creek (Dec UY) and our travel priorities have changed. How does one go about selling their DVC ownership? I have no idea where to start.

Seeing that you have bought newer resorts and recently likely bought- are you 100% sure you are done with WDW? The only reason I bring this up is that if someone is on the fence then renting out the points to cover the MF for a few years is a great option to keep the contract without it costing you really anything. MF avg $7 pp and rental can bring in $17-18 per point.

Just something to consider, but if you are ready to sell there are a number of different resale companies. Just a simple DVC resale search should bring up a number of companies. You can compare what the fees are. I personally have bought from Timeshare Store and DVC by Resale. As the buyer I had positive experiences with both purchases.

 

[JFox]

Thank you for the insight.

We will have 2 Dec UY listings (Poly & CC), not international, both with banked points, fully loaded and no pending reservations. Researching resale brokers mentioned above to tale the next step.

 

[KAT4DISNEY]

Thank you for the insight.

We will have 2 Dec UY listings (Poly & CC), not international, both with banked points, fully loaded and no pending reservations. Researching resale brokers mentioned above to tale the next step.

Differences for a seller between brokers will tend to usually be the commission %. One of the things to inquire about.

 

[badeacon]

Correct. Does the fact that there is a pending reservation and a delayed closing affect the ROFR 30 day timeline?

I just had a resale PVB contract pass ROFR in 30 days with a 3/2020 closing date.

 

[jerseyduke]

Why are pending reservations looked down upon? Does it affect the ROFR process?

No affect on ROFR process, but a the seller can not sell until the reservation is complete. If you have a January trip scheduled you can not close until after....that is a long time for a buyer to wait.
Also, they would not be my first choice, because a buyer cannot close until its complete, so they may take forever to respond to an offer, and not accept anything less than asking price....why not if they cant really sell it for months anyway....

I personally suggest putting a little pressure on the seller...making an offer, and saying that the offer is good for 2 days to a week - no more.. Some sellers like to see if they get a better offer, so they make people wait, and I wont deal with that.

 

[BillPA]

I would sell now, and rent points to cover the planned trip.

 

[sndral]

Thank you for the insight.

We will have 2 Dec UY listings (Poly & CC), not international, both with banked points, fully loaded and no pending reservations. Researching resale brokers mentioned above to tale the next step.

If your banked points are 2017 points banked into the 2018 use year (12/1/ 18 - 11/30/19) they expire 11/30/19, and by the time the contract closes in September or later the buyer most likely couldn’t find anything to book before the banked points expire.
Indeed, if I were selling a Dec. use year contract this late in the use year I’d be banking the 2018 points into the 2019 use year (12/1/19 - 11/30/20) before the 7/31/2019 banking deadline, so that they wouldn’t be lost due to the lack of availability between when you close and 11/30/2019.
Hopefully you didn’t finance your contracts, or if you did, the resale prices have gone up enough to cover what you owe and you won’t need to bring money to the table to close.

 

[DisneynBison]

sndral

Dec 18 points are the ones now that need to be banked any points that would not be able to be banked because they have banked once would be 2017 points. The 2019 points don't become available until Dec 1 this year.

 

[sndral]

sndral

Dec 18 points are the ones now that need to be banked any points that would not be able to be banked because they have banked once would be 2017 points. The 2019 points don't become available until Dec 1 this year.

Oops - thanks, I’ll try to clean up my post, I have banking Dec. points on my mind since I need to do it for my Dec. use year points very soon lol.

 

[JFox]

If your banked points are 2017 points banked into the 2018 use year (12/1/ 18 - 11/30/19) they expire 11/30/19, and by the time the contract closes in September or later the buyer most likely couldn’t find anything to book before the banked points expire.
Indeed, if I were selling a Dec. use year contract this late in the use year I’d be banking the 2018 points into the 2019 use year (12/1/19 - 11/30/20) before the 7/31/2019 banking deadline, so that they wouldn’t be lost due to the lack of availability between when you close and 11/30/2019.
Hopefully you didn’t finance your contracts, or if you did, the resale prices have gone up enough to cover what you owe and you won’t need to bring money to the table to close.

These are 2018 points to bank to 2019. All 2017 points were utilized.

We did finance the contracts.

 

[Deb & Bill]

I would post in the buying and selling forum. Someone from the DVC Store can help you out. Process is quite easy.

What is the buying and selling forum? Do you mean the Rent/Trade Board on the DIS? That's not a way to sell a contract at all. You can't sell anything on the DIS.

One more thing for the OP wanting to sell DVC contracts. Plan on paying a commission to any selling companies that you use to sell your points. Usually around 10% of the sales price. So if you need to sell fast, you may need to lower the price per point. And then plan on the 10% commission. You get what is left. If any of your contracts are financed and still owe money, you will need to pay off the contract before the sale can be completed.

 

[Mikamarii]

If you aren't in a rush then set your price and stick with it. If its priced right you'll get an offer. We just sold our contract and checked off the 'bad' boxes. We are an international seller and we had a delayed closing (2020). We sold for exactly what we wanted which was consistent with other similar contracts. We werent in a rush and declined other offers. Took usa couple months but got the offer we wanted. A lot just depends on how quickly you need to sell.