? on changing DVC ownership

[officer tigger]

We currently own 200 points at the VWL. After staying at the BCV's the family loves the resort and the EPCOT area.
We would like to own at the BCV and have it be our home resort.

What is the easiest way to get rid of one and buy at another resort?

 

[tjkraz]

The easiest way I can think of would be if you can independently find a BCV owner that basically wants to trade contracts with you. You'd have to go through the formal sale process, but you could each agree to sale prices well above the ROFR threshold. You'd still have to pay ROFR, transfer fees and closing costs x2.

Aside from that, you would have to sell your contract and buy another. If you use a broker, you'll probably forfeit 10-12% of your proceeds in the form of commission.

 

[Y-ASK]

Well you could always do an Add-On. You could add-on 25 or 50 points at a time until you reach the number of points you want and then either use or sell your other contract. Is the seven month window really that big of a problem at BCV or are you thinking it might be in the future? Just curious...

Y-ASK

 

[dianeschlicht]

Unless you are trying to reserve popular times or difficult unit sizes, I would think the 7 month window will still work at least in the near future. Y-Ask has a good idea about buying a small contract and adding on so that if you bank and use everyother year, you have enough for the ressie you anticipate needing.

When we purchased OKW, we never anticipated staying there all the time. We expected to use the 7 month widow at other resorts. So far, it has worked well. I don't reserve elsewhere often, but I do use the other resorts on occation.

 

[ColoradoBelle1]

I think TJkraz has a great idea!

If you found someone willing to do an exchange you really wouldn't have to worry about ROFR, you wouldn't need to pay a commission if you found each other on your own and you wouldn't need to pay closing costs either if you both just filed your own deeds. I doubt either of you would need title insurance (both of you woudl be DVC and know how the system works.)

Good Luck!

 

[Simba's Mom]

If you're lucky enough, this is possible. However, we weren't "lucky", so we had to do it the only other way we could find-sell your old contract and buy a new one at BCV. However, we bought the new one first. And although I'm not sure of the monthly dues at BCV, we ended up buying more points than we're selling (sold 175, bought 210) because the dues at OKW are less than at VWL (well, actually that's not the only reason-we just wanted more points!) but our monthly dues aren't increasing much.

 

[dianeschlicht]

Would Tjkraz way get you past the ROFR loop?

 

[tjkraz]

Would Tjkraz way get you past the ROFR loop?

I should have elaborated...

If two parties each had 200-pt contracts they wanted to trade, they could basically offer ANY amount (say $90) per point and easily pass ROFR. Assuming everyone is comfortable with banked / borrowed status, or some minor financial accommodation is made, very little money would even change hands.

The only concern I can think of might be any capital gains taxes imposed. Not sure if that's truly an issue or not...

 

[bridgemanva]

Couldn't you just write it up as a barter type trade? No $$$ Changes hand, and since point = point no gains? this is a scenario I've been mentally playing with b/c our smaller BCV (100) and VB (50) contracts I never use for those resorts and would prefer to fold those points into to my OKW or SSR contracts. this was our original intent when we purchased a larger contract at SSR but you know how it is once the points were there we just found need to Keep the extra. But now we're at a point level that if they were all within our 2 main contracts - I'd be much happier managing our pointsinstead of making patchwork reservations.

 

[Beca]

We bought at BWV, VWL and OKW...then, when we took our first trip "home"....we fell in love with BCV and just had to own there. I have sold all of my contracts elsewhere, and purchased at BCV. Selling DVC contracts is really easy. I would just list yours and start watching for a BCV one. Yours will sell in no time!!



Beca

 

[Tramp68]

If both contracts are paid in full you could "gift" each other your contracts. A quit-claim can be done by any attorney for about $75 each. No money would change hands, there would be no gain. The only draw back would be ensuring that you don't get taken by the other party somehow.

 

[officer tigger]

Thanks for the replies. Some good points to think about.

My contract is paid offso it wouldn't be much of a big deal to put it up for sale.

We are on the wait list for BCV in December. Its our first trip at this time of year, and don't want to do the wait list thing again. We would like to have the peace of mind of owning at the family favorite.

 

[Dean]

I think TJkraz has a great idea!

If you found someone willing to do an exchange you really wouldn't have to worry about ROFR, you wouldn't need to pay a commission if you found each other on your own and you wouldn't need to pay closing costs either if you both just filed your own deeds. I doubt either of you would need title insurance (both of you woudl be DVC and know how the system works.)

Good Luck!

You still have to go through ROFR though there are ways to minimize the risk. Most people are not comfortable doing their own deeds so you can expect a full closing times 2 between $500-1000 total.

Couldn't you just write it up as a barter type trade? No $$$ Changes hand, and since point = point no gains?

DVC will require them to be submitted separately and for a cash value be attached. While legally your idea would likely work, by the time you convince all the parties it's possible, DVC might have ended.

I know I'll ruffle some feathers by being honest, but the cheapest way to do this is to buy a totally separate small BCV contract, do the closing yourself and take advantage of the computer system limitations by transferring to the BCV contract when you need to do so. Finding someone who has exactly what you want and is willing to go through this is pretty unlikely. I've talked to several over the years but they usually either get cold feet or want to rip you off.

Or you could just do an add on at BCV through DVC and stay there most of the time. By canceling, rebooking and banking; one can turn 25-50 points at BCV and 200 at VWL and use them much like they were all BCV points.

 

[officer tigger]

Thanks Dean. Since our VWL is paid off I guess we'll try to buy into the BCV then try to sell the VWL.

 

[Dean]

Thanks Dean. Since our VWL is paid off I guess we'll try to buy into the BCV then try to sell the VWL.

IF I were in your situation, I'd just keep the VWL and change at 7 months out. Using the wait list if necessary. You should be able to be successful most of the time. It's likely not worth the extra $1000 or so you may be looking at to change over. Now if you owned OKW, SSR or off site, I'd go the other route in your situation. Do you want and need the same number of points? If not, and you want less, you may want to consider an add on then sell what you have.