Price Firm?

[avic77]

I have sent in a couple offers for OKW contracts. They keep coming back as Price is firm. The contracts are stripped and they are asking $79 which i thought was a little high for a completely stripped contract. No points till 2017! Is this normal or is this just that one company?

 

[chalee94]

it's up to the individual seller(s) as to whether the prices are firm or not.

so it can definitely vary.

 

[disneynutz]

It's the sellers, not the brokers.

Bill

 

[KAT4DISNEY]

Might also be on recommendation from the broker. There is a new company that seems to be either price firm or even doing bidding wars.

 

[avic77]

Ok Thanks. It may be same seller for both contracts since they are same use year and both are stripped. Ill inquire on some others.

 

[dsnydaddy]

Look around more. That price is out of line with OKW in the first place and most certainly for a stripped contract. DVC is kinda hot right now and the prices have been going up but I was just looking this morning and saw a bunch of contracts that were better priced than that.

 

[Missyrose]

Might also be on recommendation from the broker. There is a new company that seems to be either price firm or even doing bidding wars.

Which new company?

 

[suebeelin]

I've always gotten our contracts (and advised my SIL in her contract) for a decent amount below asking ($10/15). BWV, BLT and SSR.

However, that was 2011, dec 2014, and last month, respectively

 

[mtm65]

I've always gotten our contracts (and advised my SIL in her contract) for a decent amount below asking ($10/15). BWV, BLT and SSR.

However, that was 2011, dec 2014, and last month, respectively

Today's market (for BLT) is not a market where you can successfully offer $10 less than asking price. I've been actively bidding on BLT and I'm finding most BLT contracts are going for very close to asking price.

However, I think $79 for OKW is very high. We bought a stripped OKW for the low $50's that we should settle on in about two weeks. I would shop more before buying $79 contract.

I get the feeling that most brokers are not interested in presenting a low offer to sellers right now. The brokers are encouraging the higher pricing for obvious reasons.

Be patient, there's a contract for you!

 

[suebeelin]

Today's market (for BLT) is not a market where you can successfully offer $10 less than asking price. I've been actively bidding on BLT and I'm finding most BLT contracts are going for very close to asking price.

However, I think $79 for OKW is very high. We bought a stripped OKW for the low $50's that we should settle on in about two weeks. I would shop more before buying $79 contract.

I get the feeling that most brokers are not interested in presenting a low offer to sellers right now. The brokers are encouraging the higher pricing for obvious reasons.

Be patient, there's a contract for you!

Yah, I totally lucked out on the BLT contract. We were at DW early December - 6 months ago. I had put in an offer the week before, expecting it to either be turned down or negotiated (the price was, shall we say, good- and excellent by today's standard).

So here I am, at magic kingdom, and the call comes through on my cell phone. Buyers accepted our offer. Not sure why it took a week-- and why they did not negotiate. Likely someone else was offering and backed out and they were in a rush or didnt care. Who knows.

Suffice it to say, I'm at BWV faxing our papers out. Being at Disney and stopping at the TOW only fueled our excitement.

Unless you're in a rush, don't be too eager. Okw has some good deals on it if you're willing to wait and watch. Get on the broker lists- they send out new listings via email before it even gets on the website for the geberal public. I really do believe $79 stripped firm is way too high.

Good luck!!

 

[jnjhuddle]

I have been closely following the resale market and have noticed that the particular broker you are referring to has, for the past couple months listed EVERY single contract that is under 100 points as price is firm. I get that the sale price is up to the sellers, however, I think to some degree the brokers are influencing the price set. Correct me if I'm wrong, but I thought real estate law requires them to present any and all offers to the sellers? When you are making an offer is it even being presented? If not, this is unethical and unacceptable.
It is my feeling that this particular broker is helping to drive the prices up in the resale market by listing the resales this way, and also allowing the bidding wars (this is in fact happening), creating a sort of frenzy with potential buyers. It's easy for potential buyers to get caught up in the moment and pay much more than what is realistic for the particular property. Glad I purchased my 50 point OKW in April (different broker than what we are referring to) @ $71 pp.(with 2015 points avail). It was listed for slightly higher then this and happy my offer was presented to my sellers.

Would love it if anyone selling any of the small contracts with price firm would weigh in on this!

It's not like the mouse is driving up prices, I haven't seen much activity in the way of contracts getting ROFR'd.

 

[KAT4DISNEY]

Which new company?

http://www.dvcresalemarket.com/

 

[Snurk71]

I purchased a VGF contract from them a couple months ago, also made an offer or two on a couple others (BLT) before the one that was accepted. The first couple offers were to Kevin - he essentially told me my per was too low. He referenced/compared my offer to the current listed prices. I referred to actual prices, not listing, I had seen shared on sites like the Dis. I think that irritated him - that I didn't know what I was taking about.

Then I made an offer through Nick on a VGF contract. Either the sellers counted or stuck to their listing price. Nick tried selling me on the higher price, but I stuck to my guns and said that was my price and if it didn't work out - no biggie, it just wasn't meant to be and I'd wait for another one. Got a call back the next day that the seller accepted my price. I will say that Nick was always pleasant/nice - didn't have any friction at all.

So in my small experience I wouldn't be surprised if they're siding with/advising sellers to list high and hold out for a high price. After all, the higher the price the higher the commission.

 

[BeachClub2014]

I ran into two issues with that brokerage as well. I tried to buy two different contracts through them. The first they said my bid was too low and they weren't going to forward it to the owner. They finally agreed to do so and shortly thereafter responded back saying it had been rejected because it was the "first day of the listing and the owner is going to wait to see what other offers came in." Which I would totally understand if it were true, but I had been watching that listing on their website for about a week so it certainly wasn't the first day of the listing.

Similar scenario for the second offer I made. It was below asking and he responded shortly after that the "owner accepted a full-price offer" that same day. So I watched the listing for another five or six days, and it was still listed as available when several other contracts I had been watching had their status changed to reflect pending sales.

Not to say they lied to me in both cases, but sure seems shady and what they said sure didn't match what they showed, so I bought elsewhere and am ecstatic with the service I got from the different brokerage.

 

[suebeelin]

Wow. We went through fidelity three times in the last 4 years, and Sharon was amazing there. She's at a new place, I just read. She ALWAYS presented my offers no matter how low, and never once questioned me. Yes, this past December she did say there was a risk of ROFR, but when I said I would risk it for a good price, she said ok.

I would not go through these new brokers. Unless I wanted to sell, lol.

 

[CMNJ]

Similar scenario for the second offer I made. It was below asking and he responded shortly after that the "owner accepted a full-price offer" that same day. So I watched the listing for another five or six days, and it was still listed as available when several other contracts I had been watching had their status changed to reflect pending sales.

Not to say they lied to me in both cases, but sure seems shady and what they said sure didn't match what they showed, so I bought elsewhere and am ecstatic with the service I got from the different brokerage.

I had contacted them (spoke to Kevin) back when we were looking to buy in the fall (actually called all the big brokers to understand the companies/process as well as who did their closings as this was our first purchase). When I talked to Kevin and had inquired about a couple contracts I had some interest in I was advised that they had already buyers for them but that they could take my contact info in case the deal fell through-I was told (unlike the other brokers) they do not change their contract status to sale pending until they get the initial paperwork/deposit back from the buyer-in the mean time if they have other interested parties they can take their info in case the buyer backs out-I was surprised since everyone else seemed to change listing to sale pending as soon as a deal was struck. Anyway that might explain why something didn't change to sale pending for several days as I think you have a week or 10 days to return contracts and initial deposit.

 

[BeachClub2014]

they do not change their contract status to sale pending until they get the initial paperwork/deposit back from the buyer-in the mean time if they have other interested parties they can take their info in case the buyer backs out-I was surprised since everyone else seemed to change listing to sale pending as soon as a deal was struck. Anyway that might explain why something didn't change to sale pending for several days as I think you have a week or 10 days to return contracts and initial deposit.

That could certainly be the case, and could explain the delay in changing the listing status......but only the broker would know for sure.

 

[suebeelin]

I had contacted them (spoke to Kevin) back when we were looking to buy in the fall (actually called all the big brokers to understand the companies/process as well as who did their closings as this was our first purchase). When I talked to Kevin and had inquired about a couple contracts I had some interest in I was advised that they had already buyers for them but that they could take my contact info in case the deal fell through-I was told (unlike the other brokers) they do not change their contract status to sale pending until they get the initial paperwork/deposit back from the buyer-in the mean time if they have other interested parties they can take their info in case the buyer backs out-I was surprised since everyone else seemed to change listing to sale pending as soon as a deal was struck. Anyway that might explain why something didn't change to sale pending for several days as I think you have a week or 10 days to return contracts and initial deposit.

That doesn't doesn't sound like a neutral party to me... They seem to work on behalf of the sellers/themselves. The thing is, they only charge the seller 7.5% commission. Guess they have to make sure somehow that 7.5% is worthwhile.

 

[Boonesully]

We went through them for our BLT contract. I actually called and talked to Kevin and asked lots of questions before making an offer. I felt like he was very open and honest about everything. He even said I could try to negotiate as much as I wanted and said it was common/a good idea to at least make an offer that would save enough to cover closing costs. Maybe I'm naive, but I think we got a fair deal and excellent customer service

 

[Minniesgal]

That doesn't doesn't sound like a neutral party to me... They seem to work on behalf of the sellers/themselves. The thing is, they only charge the seller 7.5% commission. Guess they have to make sure somehow that 7.5% is worthwhile.

No they don't they charge the 10% commission I just sold a contract with them. Personally I think they are great