Resale offer question?

[*pixie*]

Hello! We are currently looking to buy a second resale contract. I found a listing that would be perfect for us, the only thing is their asking price is somewhat on the high side. Similar contracts have been making it through ROFR for $10-13 per point less than their asking price. I think I would be happy if we could get it for even around $7 a point less. Would it be ridiculous to make an offer for $13 a point less and hope to meet in the middle, or should I just move on??

 

[BillPA]

Go low and see if they counter, if not you can always raise your price.

 

[*pixie*]

Ok, thanks!! Just wanted to make sure I wasn’t breaking an unspoken rule by offering too low.

 

[Deb & Bill]

And they may counter with their asking price.

 

[denecarter]

The worst they can do is say no. Well... they could say no and laugh, but that’s not really so bad.

 

[Great3]

I don't care what the seller thinks, I offer what I believe is fair, and if they shut it down without counter, I would just move on. Seller can ask what they want to ask, you only need to offer what you are truly willing to pay (Keep in mind what you are willing to pay may be less than what others are willing to pay), so you may not get it. Than lesson learn, you are below market. Else, you are at market, and seller accepts. Of course, if seller is overpriced, and refuse to accept any reasonable offers that are in line with other sellers are willing to accept, than his/her listing will just sit on the market. So don't feel bad, just offer what you feel is good for you.

Good luck with your offer.

Great3

 

[Best Aunt]

I don't care what the seller thinks, I offer what I believe is fair, and if they shut it down without counter, I would just move on. Seller can ask what they want to ask, you only need to offer what you are truly willing to pay (Keep in mind what you are willing to pay may be less than what others are willing to pay), so you may not get it. Than lesson learn, you are below market. Else, you are at market, and seller accepts. Of course, if seller is overpriced, and refuse to accept any reasonable offers that are in line with other sellers are willing to accept, than his/her listing will just sit on the market. So don't feel bad, just offer what you feel is good for you.

Good luck with your offer.

Great3

If you decide not to make an offer at this time, keep an eye on the listing. When I was selling, I was told that my listing price was too high. I said that I understand and want to try anyway. If I had not received any offers, I would have lowered my price. (But I got full asking price on the day it was listed.)

 

[MICKIMINI]

Make an offer! I always have a number in mind for a counter, so if they do counter I'm ready with a yes or no...you are not the only one looking at that listing and it takes just one person to pull it out from underneath you.

 

[Ben E N]

It also doesn't hurt to ask the broker what they know about the seller. They want to sell those points just as much as you want to buy them, so you may get some useful insight such as "they are very willing to negotiate the price", or "they still owe so much on a loan that they are unwilling to come down from asking price." It could save you a step if you find out it's not worth your time to engage with the seller.

 

[skier_pete]

I would always consider a lower price if you the data shows it's a fair price. If the seller doesn't want to accept it, then they don't. There's always another contract out there.

 

[stuartsong]

Make an offer that you feel comfortable with.

 

[Deb & Bill]

Just don't back out after ROFR. You will lose your deposit and it will go to the selling agent and the owner of the points. We had a small 50 point contract that we had on the market. We accepted an offer and about a month later they backed out. We got half their deposit and put it on the market once again. We got a second offer and that buyer also backed out after ROFR. We got half of their deposit, too. We made enough money just in this process, that we took the contract off the market and have used it since.

 

[*pixie*]

Thanks everyone for the advice. Sellers were only willing to come down $4/point, so I'll just keep stalking until the right contract pops up!

 

[Hjs33]

Hello! We are currently looking to buy a second resale contract. I found a listing that would be perfect for us, the only thing is their asking price is somewhat on the high side. Similar contracts have been making it through ROFR for $10-13 per point less than their asking price. I think I would be happy if we could get it for even around $7 a point less. Would it be ridiculous to make an offer for $13 a point less and hope to meet in the middle, or should I just move on??

I was in a similar situation and offered about $12 below asking thinking we would meet in the middle. Was I surprised when the seller came back and accepted my offer. Figured they just wanted to sell and didn’t want to bother haggling.

 

[cruisin5]

Keep an eye on that contract. The seller may have high expectations on a new listing but be more realistic in a few months. Especially when the dues bill for 2020 is looming.

 

[mlittig]

Keep an eye on that contract. The seller may have high expectations on a new listing but be more realistic in a few months. Especially when the dues bill for 2020 is looming.

I had this happen to me with a 50 point Old Key West contract through Fidelity. The price they started out at was about $10 to $12 higher than other contracts listed with the same broker. I made an offer, they countered with a price but it was still higher than I wanted to pay. So I waited and watched them lower their asking price several times! Then I offered what I was willing to pay and sure, enough they accepted

 

[kniquy]

Would it be ridiculous to make an offer for $13 a point less and hope to meet in the middle, or should I just move on??

Some people have to set their prices higher if they happen to have a mortgage on the property. This happened with my recent Poly resale. It was listed at $165 pp (had some current points and all future points). I looked at ROFR and knew that $145 -150 was the going rate. So i low balled at $140 per point ($25 less than their listing) and the response i received was a counter offer of $150 per point and was informed they had a mortgage to still pay off. The sellers had just bought in June 2017 direct from DVC so I am sure they still had a considerable amount left to pay. I had a budget to stick to so I countered at $145 pp and they accepted! So we settled at $20 less per point than the listing.

You really don't know the situation of the seller. If they are really over priced it will sit on the market, which for my sellers they listed for sale in Sept 2018 and I put in my offer in April 2019. It sat on the market a long time.

you can put in any offer but expect it to be declined or counter offered. Going by the ROFR thread, looking back 6 months, can be very helpful to see what a reasonable offer would be. If someone doesn't accept then move on there will be others. But if it really is the ideal contract for you then be willing to pay a little more. Probably in the end paying $5 more per point than you really wanted doesn't wind of being a whole lot. So in my situation I paid $5 more than my original offer on a 100 point contract -- so really only $500 more.

 

[KPeterso]

I have had twice I offered below the asking price. The first time I thought the price was way too high and offered about $15 less. The broker agreed my price was fair, but the sellers would not negotiate as they had financed and did not want to have to bring money to the table to pay off the loan. So I passed since I was not paying that price.

The second time was for a contract that was priced ok and I was willing to pay that price, but thought I would offer $5 less a point and maybe save myself a little money. I was surprised when they accepted quickly and then even happier when it made it through ROFR.

I had one other contract that was a small one (50 points) at VGC with the right use year. I thought it was a smidge high, but those are so hard to find that I offered the asking price and it was accepted. Glad I did as the price has gone up a lot since 2017 when I bought that contract.

 

[Matty B13]

I wouldn't worry about if the seller is under water on their loan or not, that is their problem, just offer what you think is fair.

 

[Lumpy1106]

What are the latest ROFR prices? It doesn't make much sense to offer a really low price if you don't think it has a snowball's chance to get through ROFR. All you accomplish there is making Disney a really good deal...and taking money away from the seller. I wouldn't accept that offer either.