Rejected Offers Thread

[teamsamant]

BCV if it's 100 points or less I had rejected offers in the last 6 months from $115-$140. $140 had banked points, still rejected.

BCV can be had for $120 or less it seems if you are willing to buy over 200 points.

 

[lilsonicfan]

Went back to them at $105. You don’t ask you don’t get!

I generally support "lowball" offers, by which I mean, offers that are a little lower than the going rate.

But I think it's tough with BCV. Owners already know it's a gem and a desirable location, or if for some reason they don't know, their broker is sure to advise them. Of course entirely possible someone will be convinced at $105 but that does seem a true unicorn, someone who is so desperate to sell that they'll take anything. It seems unlikely at BCV.

Those of us who bought low at SSR for example - brokers likely weren't telling our sellers that they had a desirable contract and that they should hold out for more money.

 

[Disney_escape]

Just a coincidence or more? I placed a bid and was told the seller decided to keep their contract and were pulling it from the site. The Agent conveniently had another contract that he was sure I would like and said what price would be accepted (of course higher than I bid and different use year). I noticed the original contract never disappeared, I inquired with the agent and he said he would check. He came back and said try bidding more and maybe they will decide to sell? Wait I thought they were pulling it, so did they counter? or did you not actually show my offer?
Seems fishy, a little background - I did not choose this agent, I said I didn't care who and randomly got him, but I had dealt with this guy over a year ago and caught him lying about a contract then. It put a very bad taste in my mouth then for this company (sponsor here) and definitely kept me away and on other resale sites.

This reinforces my past thoughts....Buyer beware of that site.

 

[Sprinkles&Sprints]

I generally support "lowball" offers, by which I mean, offers that are a little lower than the going rate.

But I think it's tough with BCV. Owners already know it's a gem and a desirable location, or if for some reason they don't know, their broker is sure to advise them. Of course entirely possible someone will be convinced at $105 but that does seem a true unicorn, someone who is so desperate to sell that they'll take anything. It seems unlikely at BCV.

Those of us who bought low at SSR for example - brokers likely weren't telling our sellers that they had a desirable contract and that they should hold out for more money.

For that low of a price, wouldn't it make more sense for the broker to buy it themselves? I haven't really looked too deeply into it but some of the sites seem to offer instant sales. I'm assuming for BCV - especially if they have a rental arm - it would be better for the broker to buy outright from a desperate seller? I'd need to do the math...

 

[HyperspaceMountainPilot]

Went back to them at $105. You don’t ask you don’t get!

If you want us to do a better job of discussing and analyzing it would be helpful to give us a sense of contract size. I think we tend to assume contracts are 100-200 points for most resale purchases but if you’re bidding on a 600 point contract, you should be able to do better than the average BCV price.

 

[HyperspaceMountainPilot]

For that low of a price, wouldn't it make more sense for the broker to buy it themselves? I haven't really looked too deeply into it but some of the sites seem to offer instant sales. I'm assuming for BCV - especially if they have a rental arm - it would be better for the broker to buy outright from a desperate seller? I'd need to do the math...

My theory is that many brokers do buy at low prices from desperate sellers, strip the points, and then resell a stripped contract for about the same amount that they bought a loaded contract.

 

[atthebeachclub]

My theory is that many brokers do buy at low prices from desperate sellers, strip the points, and then resell a stripped contract for about the same amount that they bought a loaded contract.

My theory was that they don’t buy those usually; they encourage the renter to strip their own contract through their rental side, then resell on their resale side, for expediency and to keep their own costs down, plus make the most profit. But I could just as easily be wrong.

 

[HyperspaceMountainPilot]

My theory was that they don’t buy those usually; they encourage the renter to strip their own contract through their rental side, then resell on their resale side, for expediency and to keep their own costs down, plus make the most profit. But I could just as easily be wrong.

That doesn’t work as well because the contract can’t be sold until the rental is completed. With a naive desperate seller, they can make more money by forcing seller to pay their broker and closing fees, transferring points to their own (other) contracts and getting 100% of the point profit, and then reselling stripped (while lecturing us on the audacity of wanting a discount for super stripped contracts). Only hiccup is clearing ROFR, I think?

 

[atthebeachclub]

That doesn’t work as well because the contract can’t be sold until the rental is completed. With a naive desperate seller, they can make more money by forcing seller to pay their broker and closing fees, transferring points to their own (other) contracts and getting 100% of the point profit, and then reselling stripped (while lecturing us on the audacity of wanting a discount for super stripped contracts). Only hiccup is clearing ROFR, I think?

Yeah, that’s true. I know the board sponsor has an automatic price they will buy your contract for. It is significantly at risk of ROFR as it is quite low. Not close to market value. I found it useful when deciding what to offer on resale contracts.

 

[DonkeyHoTay]

If you want us to do a better job of discussing and analyzing it would be helpful to give us a sense of contract size. I think we tend to assume contracts are 100-200 points for most resale purchases but if you’re bidding on a 600 point contract, you should be able to do better than the average BCV price.

Agreed - target is BCV contracts around 150 points in size and preferably with at least 2024 points available. Looks like I need to offer around $135 pp to get better reactions, but I’m not gonna do that.

 

[atthebeachclub]

Agreed - target is BCV contracts around 150 points in size and preferably with at least 2024 points available. Looks like I need to offer around $135 pp to get better reactions, but I’m not gonna do that.

You don’t have to go that high. I offered $113 on a 100 point contract; counter was $125 and I took it. No 2023 points; most of the 2024 points. I think if I was driving a harder bargain I could have done even better. Don’t forget you can always offer a higher number per point but ask for closing costs or membership fees paid by the seller. For some sellers this “feels” better I imagine. This gives a good idea of bargain basement pricing offers: https://www.dvcresalemarket.com/selling/instant-sale/

 

[Massachusetts]

First time attempt at buying resale and I think this is the right thread to post about my rejected two offers on Beach Club, but I am completely ashamed of my low ball/completely absurd $80pp offers. The broker said the seller rejected my offers on both contracts, but there was no counter - I guess because they were borderline (across the border?) insulted. Tail between my legs, I am moving on to other resale contracts for sale....

No harm done by submitting your offer, you have caused no trouble for anyone. The contract still has the same value to the seller and likely to you. Keep your tail high and adjust if necessary if something makes sense.

 

[lilsonicfan]

For that low of a price, wouldn't it make more sense for the broker to buy it themselves? I haven't really looked too deeply into it but some of the sites seem to offer instant sales. I'm assuming for BCV - especially if they have a rental arm - it would be better for the broker to buy outright from a desperate seller? I'd need to do the math...

the instant sales look appealing at the outset but at www.dvcresalemarket.com they require the seller to pay dues on any used points (which is not necessarily how a resale contract works) plus full commission (9.25%) plus closing costs (often paid by buyer otherwise.)

Just tried a BCV contract - a tester, i don't own one - at 150 pts with March UY, 0 2023 pts, 50 2024 pts, and 150 2025 pts. Broker opinion: $135pp, instant sale $108pp or $16,200. Instant sale price would then take off closing costs of say $1,000 and commission of 9.5% which then becomes $13,660 or so. That's $91pp. But yes, presumably if a broker thought that their seller might be desperate they might offer to buy. I assume though that that is sussed out at time of listing. Seller says "Hey there- I really want to sell quickly" - they might be diverted to instant sale anyway.

 

[JackosinDIS]

Agreed - target is BCV contracts around 150 points in size and preferably with at least 2024 points available. Looks like I need to offer around $135 pp to get better reactions, but I’m not gonna do that.

You will be able to find one for less than that I think. I found a 150 pointer with double 2024 points last month. Listed $125, Offered $115, agreed at $120 with seller paying MFs. Just have to stalk the aggregator websites for a few months and jump when you see one.

Fidelityrealestate.com tends to have listings on the lower end of the price spectrum. You are unlikely to see any listed below $135 to $145 with the board sponsor.

Then again, maybe you are not prepared to go up to $120 either, in which case it doesn’t help you!

 

[Sandisw]

the instant sales look appealing at the outset but at www.dvcresalemarket.com they require the seller to pay dues on any used points (which is not necessarily how a resale contract works) plus full commission (9.25%) plus closing costs (often paid by buyer otherwise.)

Just tried a BCV contract - a tester, i don't own one - at 150 pts with March UY, 0 2023 pts, 50 2024 pts, and 150 2025 pts. Broker opinion: $135pp, instant sale $108pp or $16,200. Instant sale price would then take off closing costs of say $1,000 and commission of 9.5% which then becomes $13,660 or so. That's $91pp. But yes, presumably if a broker thought that their seller might be desperate they might offer to buy. I assume though that that is sussed out at time of listing. Seller says "Hey there- I really want to sell quickly" - they might be diverted to instant sale anyway.

When I was selling, and priced that out…they were very straight that it’s not going to be the best option for a seller to take it.

We did consider it and would have done it if we had not gotten an offer so fast because quick sale was what we wanted…even after all the costs, we would have still netted over $30 a point.

 

[Sprinkles&Sprints]

the instant sales look appealing at the outset but at www.dvcresalemarket.com they require the seller to pay dues on any used points (which is not necessarily how a resale contract works) plus full commission (9.25%) plus closing costs (often paid by buyer otherwise.)

Just tried a BCV contract - a tester, i don't own one - at 150 pts with March UY, 0 2023 pts, 50 2024 pts, and 150 2025 pts. Broker opinion: $135pp, instant sale $108pp or $16,200. Instant sale price would then take off closing costs of say $1,000 and commission of 9.5% which then becomes $13,660 or so. That's $91pp. But yes, presumably if a broker thought that their seller might be desperate they might offer to buy. I assume though that that is sussed out at time of listing. Seller says "Hey there- I really want to sell quickly" - they might be diverted to instant sale anyway.

Agreed. I guess I just meant that it's not surprising that the $80 p/p was declined immediately since it's still lower than what the seller would have received if doing the instant sale to the broker (using hypotheticals of course). Thank you for doing the math!

 

[DonkeyHoTay]

You will be able to find one for less than that I think. I found a 150 pointer with double 2024 points last month. Listed $125, Offered $115, agreed at $120 with seller paying MFs. Just have to stalk the aggregator websites for a few months and jump when you see one.

Fidelityrealestate.com tends to have listings on the lower end of the price spectrum. You are unlikely to see any listed below $135 to $145 with the board sponsor.

Then again, maybe you are not prepared to go up to $120 either, in which case it doesn’t help you!

This is really helpful! I am willing to pay $150 pp for the right contract (fully loaded, banked points etc), but ... I'm looking for the best deal on bite size BCV contracts so stalking the aggregator sites is how I spend my free time - I really need better hobbies but it is what it is.

 

[teamsamant]

If you are willing to go to 150 points I think you will find some deals. The 100 pointers are in high demand with low supply. Brokers know it and most sellers do too. I've found those 100 pointers to be a good deal at 125 or so for a non loaded one. 150s can be had for less though for sure but not $80!

 

[Cfabar1]

Just a coincidence or more? I placed a bid and was told the seller decided to keep their contract and were pulling it from the site. The Agent conveniently had another contract that he was sure I would like and said what price would be accepted (of course higher than I bid and different use year). I noticed the original contract never disappeared, I inquired with the agent and he said he would check. He came back and said try bidding more and maybe they will decide to sell? Wait I thought they were pulling it, so did they counter? or did you not actually show my offer?
Seems fishy, a little background - I did not choose this agent, I said I didn't care who and randomly got him, but I had dealt with this guy over a year ago and caught him lying about a contract then. It put a very bad taste in my mouth then for this company (sponsor here) and definitely kept me away and on other resale sites.

This reinforces my past thoughts....Buyer beware of that site.

Oh yes... the stories I have heard are hilarious as well.... I've heard just about every story in the book from that website...

But that's fine, I don't take it personally....

 

[Jack Kerouac]

BLT - 125 points @ $115pp, listed at $130pp