Recent experience in selling BWV contract

[RAD]

I just thought that I'd post a timeline of my recent sale of my Boardwalk Villa contract. It was August UY with 29 2022 points, 200 for 2023 and 200 for 2024 and was done through the https://www.dvcresalemarket.com/ a sponsor of this site.

- Contract listed on 8/30/2022 for $149 per point. This was the recommended amount that the broker said would be a good starting point. At this time IIRC there were 42 other BWV contracts up for sale at the site.
- On 10/11/2022 I requested that the price be lowered to $147 per point since there had not been one single offer made at this point. A couple years ago I sold three other BWV contracts which had multiple offers and were sold within a month.
- On 12/1/2022 I requested that the price be lowered to $144 per point as I've yet to receive an offer.
- On 12/16/2022 I requested the price be lowered to $139 per point, still no offers.

Just so you know I was not in a big rush to sell these contracts. It wasn't like I was going through a divorce or bankrupt and needed the cash, I just wanted to cut my ties with Disney. But I was starting to get concerned that things weren't turning around since the broker was now lowering the price they said was a good starting point for newer sales and the number of contracts on their site for sale kept increasing. Was the economy and interest rates going up slowing things down? Was the 2042 end date for BWV starting to play a role in slowing sales? All I know was I was not seeing things turn around in a while so I took the broker up on an offer that they have where they will buy your contract, at a reduced price. I had asked them about this program back in November and the would pay $123 per point with that price guaranteed for 45 days, so on December 20th I took them up on that offer and as of January 27th the title company has closed the contract.

And just for a point of reference, the broker now shows 62 BWV contracts and they recommend a selling price of $136/PP and their instant buying offer is $112/PP.

 

[ML_LovesDisney]

We experienced something similar with our AKV contract sale (we have sold several other contracts and had offers within a day or week, this one sat for 2 mths), although we did end up finding a buyer. Much lower than originally listed, but much higher than we paid for it so it was fine. It does seem like prices on the site are still over-inflated and I don't see sellers getting what they have the contracts listed for unfortunately.

 

[DizneyFamof4]

I just thought that I'd post a timeline of my recent sale of my Boardwalk Villa contract. It was August UY with 29 2022 points, 200 for 2023 and 200 for 2024 and was done through the https://www.dvcresalemarket.com/ a sponsor of this site.

- Contract listed on 8/30/2022 for $149 per point. This was the recommended amount that the broker said would be a good starting point. At this time IIRC there were 42 other BWV contracts up for sale at the site.
- On 10/11/2022 I requested that the price be lowered to $147 per point since there had not been one single offer made at this point. A couple years ago I sold three other BWV contracts which had multiple offers and were sold within a month.
- On 12/1/2022 I requested that the price be lowered to $144 per point as I've yet to receive an offer.
- On 12/16/2022 I requested the price be lowered to $139 per point, still no offers.

Just so you know I was not in a big rush to sell these contracts. It wasn't like I was going through a divorce or bankrupt and needed the cash, I just wanted to cut my ties with Disney. But I was starting to get concerned that things weren't turning around since the broker was now lowering the price they said was a good starting point for newer sales and the number of contracts on their site for sale kept increasing. Was the economy and interest rates going up slowing things down? Was the 2042 end date for BWV starting to play a role in slowing sales? All I know was I was not seeing things turn around in a while so I took the broker up on an offer that they have where they will buy your contract, at a reduced price. I had asked them about this program back in November and the would pay $123 per point with that price guaranteed for 45 days, so on December 20th I took them up on that offer and as of January 27th the title company has closed the contract.

And just for a point of reference, the broker now shows 62 BWV contracts and they recommend a selling price of $136/PP and their instant buying offer is $112/PP.

I see that Fidelity has BWV selling for as low as $110/PP

 

[CarolMN]

I just thought that I'd post a timeline of my recent sale of my Boardwalk Villa contract. It was August UY with 29 2022 points, 200 for 2023 and 200 for 2024 and was done through the https://www.dvcresalemarket.com/ a sponsor of this site.

- Contract listed on 8/30/2022 for $149 per point. This was the recommended amount that the broker said would be a good starting point. At this time IIRC there were 42 other BWV contracts up for sale at the site.
- On 10/11/2022 I requested that the price be lowered to $147 per point since there had not been one single offer made at this point. A couple years ago I sold three other BWV contracts which had multiple offers and were sold within a month.
- On 12/1/2022 I requested that the price be lowered to $144 per point as I've yet to receive an offer.
- On 12/16/2022 I requested the price be lowered to $139 per point, still no offers.

Just so you know I was not in a big rush to sell these contracts. It wasn't like I was going through a divorce or bankrupt and needed the cash, I just wanted to cut my ties with Disney. But I was starting to get concerned that things weren't turning around since the broker was now lowering the price they said was a good starting point for newer sales and the number of contracts on their site for sale kept increasing. Was the economy and interest rates going up slowing things down? Was the 2042 end date for BWV starting to play a role in slowing sales? All I know was I was not seeing things turn around in a while so I took the broker up on an offer that they have where they will buy your contract, at a reduced price. I had asked them about this program back in November and the would pay $123 per point with that price guaranteed for 45 days, so on December 20th I took them up on that offer and as of January 27th the title company has closed the contract.

And just for a point of reference, the broker now shows 62 BWV contracts and they recommend a selling price of $136/PP and their instant buying offer is $112/PP.

Very interesting. Thank you for sharing your experience

 

[sleepymouse]

The prices on this broker’s listings, as well as a few others, are too high. They need to adjust as quickly as the market is. I offered well below listed price on two contracts they had. I quickly realized that it was not worth my time to do so. I got a better response and service, thus far, elsewhere.

 

[MarkNC2Disney]

Thanks for posting! It seems most sellers aren’t under financial pressure to sell, hence the pockets of sticky higher prices.

It also seems some brokers are providing bad advice. They see both sides of the market - not sure why they aren’t more interested in deal flow.

 

[FreeTime]

The prices on this broker’s listings, as well as a few others, are too high. They need to adjust as quickly as the market is. I offered well below listed price on two contracts they had. I quickly realized that it was not worth my time to do so. I got a better response and service, thus far, elsewhere.

I did as well. Received a counter offer that was not reasonable. Walked away. I think prices will start coming down more when the brokers stop pushing the rates that don’t make sense right now and people realize they don’t want to hang on to points they aren’t using/can’t afford. Buying more points is a want, not a need. I think the market needs to adjust with that understanding. For me, I will certainly continue to walk away on those priced too high. The broker came back with, “they need to breakeven and pay off what they owe.”

 

[sleepymouse]

It is unfortunate if someone finds themselves underwater financially, but it is not a stranger’s responsibility to overpay and dig them out of debt. This should be viewed as a luxury/disposable income purchase. For this reason, I would never buy DVC with anything other than cash.

 

[Brian Noble]

The broker came back with, “they need to breakeven and pay off what they owe.”

If this is accurate, (and who knows, it may not be), it's a good counter-example for the "I can always sell for more than I paid" people.

 

[DizneyFamof4]

It is unfortunate if someone finds themselves underwater financially, but it is not a stranger’s responsibility to overpay and dig them out of debt. This should be viewed as a luxury/disposable income purchase. For this reason, I would never buy DVC with anything other than cash.

Totally agree. I just shake my head when I read so many Dissers are financing the purchase and then they go on this lengthy explanation that they will be saving $$ right from the start. LOL Most of the time I think they are trying to justify their purchase more to themselves then anything else. If you have to finance it, then you should not buy it.

 

[BWV Dreamin]

I saw a podcast featuring this broker a couple of weeks ago. At that time they said they had over 750 resale listings!! I wonder just how many people they are going to be able to offer that “ buy back” offer you got from the broker? Sounds like in this situation you got a good deal.

 

[theplanets14]

This just shows that now is the time to buy.

Right now there are a ton of resale contracts online and the buyer can just about get anything they want.

I'm sure a lot of potential sellers looked at the resale rates 5 or 6 months ago and decided to list because it was definitely the time to "sell high". Well the market got flooded with contracts, interest rates have gone up, and the economy has gotten shaky. If I were in the position that I just wasn't getting the most out of my contract- so I listed it over the summer- then the market declined- I would probably take my contract off the market and just rent out my points until things stabilize again. The rates that we saw in 2021 and early 2022 probably aren't coming back for a long time but that doesn't mean that I would be willing to sell at $40 pp under my original list price.

As a buyer- I am willing to make competitive offers then move onto the next contract as I have a handful of potential resorts I would be happy at with similar price points.

The time is coming soon where people are going to be removing their contracts from broker sites and less people will be motivated to list- which will bring the available contract inventory back down and prices will start to stabilize again.

 

[BWV Dreamin]

I don’t know. There are a TON of points on various sites for rent. I see rental prices dropping, and with the glut of rental inventory, May be real soon! There are other factors driving people to sell ( Iger you reading?). Pulling it off the market won’t have any effect on the other forces driving people to sell. The glut of inventory is so vast, it’s gonna take way more than some people pulling thier contracts off the market.

 

[Cupcake232]

Good info! Thank you for sharing!

 

[RAD]

Finally update on the sale, the funds from the sale were wired to my account this afternoon, so 1 month and a week from doing their instant sale until I got paid. Not bad considering that Christmas and New Years holiday was during the process.

 

[Sparkle_Steffie]

I see that Fidelity has BWV selling for as low as $110/PP

I just passed ROFR on $130/pt via Fidelity, with seller paying closing costs.

 

[🍀TwinsMom]

This is good information. Thank you for sharing.

 

[luvdisneyland]

I did as well. Received a counter offer that was not reasonable. Walked away. I think prices will start coming down more when the brokers stop pushing the rates that don’t make sense right now and people realize they don’t want to hang on to points they aren’t using/can’t afford. Buying more points is a want, not a need. I think the market needs to adjust with that understanding. For me, I will certainly continue to walk away on those priced too high. The broker came back with, “they need to breakeven and pay off what they owe.”

If you owe, say $20K on a listing, would you sell it for $19K, knowing that you will have to pay thousands to close? I am not sure your example is that anyone is being unreasonable, in fact, sounds like they were being very upfront as to why they couldn't go lower than a certain number. As someone who just sold and someone who's been bought many contracts, I see both sides. The comments lately seem to have some very aggressive attitudes in regards to buying and seem to get angry when a seller isn't willing to discount 50% or to a super below market price offer. The brokers aren't the ones making up the prices, the market it - market price is just that, market price. Sure, they may come down more and probably will, but for right now if market price is say, $100 pp, I would say it is unreasonable to make an offer at $50 pp and get upset that you aren't getting what you want. Buyers and sellers can only go off what is selling NOW, not what it "may" be in 6 months or for sellers, what it WAS 6 months ago.

 

[AnnaKristoff2013]

If this is accurate, (and who knows, it may not be), it's a good counter-example for the "I can always sell for more than I paid" people.

People who take out loans to purchase developer points from any timeshare are generally always making a poor life decision. Disney is not an exception.

 

[AnnaKristoff2013]

I don’t know. There are a TON of points on various sites for rent. I see rental prices dropping, and with the glut of rental inventory, May be real soon! There are other factors driving people to sell ( Iger you reading?). Pulling it off the market won’t have any effect on the other forces driving people to sell. The glut of inventory is so vast, it’s gonna take way more than some people pulling thier contracts off the market.

Rental prices are are already coming down. One needs only to eyeball the disboards rent/trade board. The average price per point is definitely down a few bucks from 6 months ago.