Preparation to sell...

[vakamalua]

We have been members since 1995. We have two contracts both at OKW; one 310 points and the other 40. It's time to sell.

For anyone who has been through the sales process, I'm interested in how you screened brokers. E.G., what questions did you ask or stats did you request to decide on the right one to go with. Do you have to alert DVC that you are selling? Any information on the process would be helpful.

Also, does anyone think keeping the 40 point contract would give us enough options for a short break every three years by banking and borrowing? All thoughts welcome.

Thanks

 

[BillPA]

We're in the same boat, members since 1993 and most of the old Magic has long left the Magic Kingdom and replaced with Corporate America and the how much cash can I get in my bonus this year, if I cut xxx and yyy....
Keep the 40 point for now, you will have all the perks, such as they are. You can get 6 nights in an SSR studio in Oct/Nov/late Dec every other year for 80 points. & nights at OKW if a studio works for you there. We like having the sofa since it's just the 2 of us most times now.

I would see who has the best rates and lowest closing costs.

 

[hardis5]

Bought from the other side of the fence (resale) but IMHO, if your contracts are attractive with available points, push the closing costs onto the seller. OKW being one of the better for availability later and lower needed points for a stay, why not hold onto the 40 pt contract to see how the 3-year plan of a trip works out?

 

[JimMIA]

I've bought three times and sold twice using The Timeshare Store -- the sponsor of these DVC Boards. Everything was handled in a very professional manner and went very smoothly. They are probably the most experienced broker dealing with DVC contracts and know the process inside and out. They'll help you with pricing and all the details. With good help, the selling process is not difficult.

There are some other brokers around, including a couple I flat would NOT use. There are also some newer ones who may or may not know what they are doing. I would stick with one of the top firms recommended by people here, and I'd shy away from those I read postings about charging higher than estimated fees, extra "admin" fees for nothing, and those who cater to bargain shoppers.

 

[LisaS]

I had purchased a resale contract through The Timeshare Store and everything went smoothly so when I decided to sell one of my contracts I called them and I also called dvcresalemarket.com after reading some positive reviews. In the end I went with dvcresalemarket.com because they charged a lower commission (it was 8% at that time, I think it's 8.5% now, vs 10% at The Timeshare Store) which meant more money in my pocket from the sale. There may be another broker (the name escapes me at the moment) who charges even less.

I was very pleased with the service from the DVC Resale Market. They spent a lot of time on the phone with me, explaining the process and helping me decide on my asking price. Their communication was excellent at every stage. I wouldn't hesitate to use them again. Since I had never sold a contract before, I appreciated how well they explained everything, especially the document they sent me that listed every step in the process and how long each step would take.

In addition to the commission, you will be charged a ROFR fee and an estoppel fee. In my case those were $20 and $50 but I think Disney has raised those fees since then. The buyer usually pays the closing costs.

The process can take about 4 months once you have a buyer. Re: alerting DVC that you are selling, once you have a buyer you must go through the ROFR (Right of First Refusal) process and let Disney review the deal and decide whether or not they want to step in as the buyer. The broker will handle submitting that document.

 

[zavandor]

The point about holding on the 40 points contract to keep the benefits is a good one. If you've visited WDW until now, you'll probably like to do a trip every 3 year anyway and having the 40 points contract (that shouldn't be a great hassle MF wise) will give you dining and merchandise discounts and if you're lucky also access to members only events.
It's not easy to use a contract every three year not loosing points, it will pobably involve buying one time use points at $15 to top up the points and book one night more. For example, five nights mid week in early December at the Poly are 100 points, but adding the Friday would be 124. Just paying $60 you can book one night more and use all you points, instead of keeping 20 points that would be more difficult to use.