Question about selling some of my points on our own?

[DeeCee735]

We have a buyer for one of our smaller contracts. They are already owners and friends of ours.
I'm wondering how we go about selling to them? Do we have to use a real estate agent or an attorney? How do we submit for ROFR? Any info would be greatly appreciated.

Dee

 

[Dean]

We have a buyer for one of our smaller contracts. They are already owners and friends of ours.
I'm wondering how we go about selling to them? Do we have to use a real estate agent or an attorney? How do we submit for ROFR? Any info would be greatly appreciated.

Dee

You can do the transfer yourself for less than $50 if you want. If you want someone else to do it, Timeshare Transfers is likely the cheapest. No title insurance or escrow but you shouldn't need that. Realize that if the contract is currently qualified, it won't be after you sell it. Also, legally, you have to put the terms and give DVC the chance for ROFR. Just contract DVC directly and they'll send you the packet. The basics are to submit the transfer form for ROFR along with the contract spelling out the details, then if they waive it (they might not), you'll need to record a deed and the waiver along with the recording fees. Then just send a copy of the recorded deed and the second transfer form for them to change the name. Be aware it's a violation of FL law to put details on the contract that are different than the actual agreement for the purpose of passing ROFR.

 

[DeeCee735]

Thanks. Don't understand all of this but will call dvc tomorrow and post more questions as I go.

Des

 

[Deb & Bill]

DVC could take it on ROFR if you price it too low or you have banked points.

 

[DeeCee735]

We are aware of that, thanks for taking the time though. Points are not banked or borrowed and we are not pricing them too low. Trying to establish current market value.

 

[Dean]

We are aware of that, thanks for taking the time though. Points are not banked or borrowed and we are not pricing them too low. Trying to establish current market value.

It can still be a win for both parties if you do the closing on the cheap. The buyer can save much of the closing and the seller can save the commission. Those savings can be split but you don't want to build those specifics into the contract, just that buyer pays closing and there's no need or legal requirement to state no commission in this situation.