Resale offers

[AZMermaid]

Is it generally expected that you will pay asking price for a DVC resale- or are owners expecting you to make an offer and then they counter, more like buying a house? Specifically, looking at a VGC contract at $135/ pt. Thanks!

 

[graychef]

Buyers have the option of doing anything they want. They can offer the listed price or offer a lower price. In turn, Sellers can do what they want. They can accept the first offer, make a counter offer, or reject the offer outright. It's similar to buying a house. There can be opportunity for negotiation but the negotiation can stop at any time. Both of my resale purchases were at lower-than-listed prices. The first was agreed to on the first try. The second was on a counter offer.

 

[heynowirv]

Of course sellers are expecting you to pay their asking price,but offer, counter offer ,counter -counter offer is the norm under both parties are happy or move on to the next bidder or contract.

 

[ziravan]

I made an offer on my BC resale contract of $2/ point below asking. It was immediately accepted.

Now I think, maybe I should have started at $6 under...

Everything is negotiable. Price, closing fees, current year maintenance fees. Everything.

The only catch is not to negotiate such a great deal that Disney exercises ROFR.

If someone isn't interested in negotiating, I'd move on. I don't think that it's particularly a buyers or sellers market at the moment, but it is a very fluid market. Another great deal is right around the corner.

 

[graychef]

And you should check out the ROFR thread to see how sales are trending. There are variables in each contract (how loaded/unloaded the contract is, UY, etc.) that can impact final price. And as ziravan says, everything can be negotiable, including closing costs and current year maintenance fees.

 

[DisneyfromDeland]

I have always made offers and ended up at a price below asking.

 

[ziravan]

Subscribe to the timeshare store's listing email. They are a Disboards sponsor.

I get an email 2-3 times/week with new listings. Even though I'm not currently in the market, I like seeing how prices are trending.

 

[suebeelin]

More like buying a permanent house!!

I have gotten my points btween 5-10 below asking. Don't forget to negotiate maint fees, closing costs, etc.

I was a neophyte with my first purchase in 2011. Could have probably saved $2k if I negotiated more (doh!) on maintenance fees and closing costs. My most recent purchase a few months ago was $10 below asking, closing costs covered by seller but prorated maintenance fees. Much better deal but it's also a sellers market now, unlike 2011. If I had bought my most recent contract in 2011, I could have gotten the same contract for $2-4k less.
Prices were low back then!!

Good luck!!

 

[Minniesgal]

VGC re sales are not currently shifting as quickly as they were a couple of years ago. I get emails from an agent who has been listing them then emailing out a few weeks later I woudl go in with an offer and be prepared to negotiate.

 

[finchy3]

We got our 3 VGC contracts way under what the seller wanted, paying $110, $110 and $107. They were stripped contracts though.

 

[sgrap]

We just passed ROFR a few weeks ago on a loaded 300 point contract asking $128/point. We offered $124 and the sellers immediately accepted. It had been listed for a couple of months already, so that maybe had something to do with it?? We didn't negotiate the other costs--maybe we should have--but with the loaded contract we were happy at $124/point.

 

[akl2004]

We just closed on a small loaded BWV contract. We had been watching the market for several months and these small contracts at the park resorts don't last long. We decided to offer the asking price right away so we didn't lose it to someone offering asking price while we negotiated over what amounts to a few dollars. We paid $100 a point for a 50 point contract. Even if we had gotten it for $95 that was only a $250 savings. To this extent, I think it really depends on the contract. A much demanded contract like ours is likely to sell quickly, so for these contracts, regardless of the rest of the market, it is absolutely a sellers market. But it really depends on the contract and demand for that type of contract. The best thing you can do is research and act according to what you learn.

 

[Just Peachy]

I just got my Membership package on our VGC purchase (131 days after an offer was accepted). Got a loaded contract, at $5 off original asking price and prorated MF. However, the negotiation was done in November, just prior to the direct sales price increase. Never hurts to counter-offer.

 

[tasha99]

I just recently bought 75 VGC points at 120 pp (buying process started in December). My contact is stripped until 2016, but I was okay with that because we are going to WDW this year, and I will only use my points at Disneyland. One bit of silver lining was no MFs at closing.

A couple things to consider are number of points currently usable on the contract and how many points are in the contract. Stripped contracts are cheaper than loaded and smaller contracts are often a little more per point than large ones.

 

[AllieV]

Back in 2012, I got a 100 point contract for $16.50 below asking price. (that's not a typo, $16.50 BELOW asking). However, contracts at the time were selling really cheap for a short period of time. Since then, Disney raised their prices and resale prices followed. The economy bounced back a lot and now prices are on the rise again. I just made an offer (and it was accepted) of $5 below asking price on a 50 point contract. It was priced reasonably anyway. I checked out the ROFR board first to see what prices were being bought back and I priced it just above the lowest one. This is the same strategy I used in '12. Unless I thought it was really priced well, I wouldn't pay asking price. I think any smart realtor builds in room for negotiation, because everyone wants to feel they got a deal. Usually the larger the contract, the more negotiating room there is. It can never hurt to offer.

 

[AZMermaid]

We offered $125 and we will see what happens! Thanks everyone!

 

[AZMermaid]

So- we offered 6 days ago and have not heard anything. I did follow up last Friday and they were waiting to hear from the seller. Maybe this was too low? I figured they would counter a little higher and then we would take that.... but the waiting is tough!

 

[Kimly]

6 days is kinda long, I def would be bugging them. We put in many offers before actually going with one. Usually we heard back that day or within the next two days. Since if they don't take your offer you can look elsewhere.

We offered $5/point below asking. And last year got 200 at $65 SSR loaded contract.

 

[Friendlyadvice2]

So- we offered 6 days ago and have not heard anything. I did follow up last Friday and they were waiting to hear from the seller. Maybe this was too low? I figured they would counter a little higher and then we would take that.... but the waiting is tough!

That's ridiculous! Short of the broker telling you the seller is completely unavailable by cell phone (doubtful but possible), it sure seems they are hedging your offer for a better one. In the futue, I would suggest putting an expiration date/time on you offers. I typically allow 24 hours, sometimes less unless I have concrete evidence of why the seller can't respond. The final offer of my contract that is currently in ROFR had a half hour expiration on it after I became irritated with the seller countering over $250 (They accepted within 5 minutes). Either they accept your offer or they don't. If they want to counter, that's fine too. Then you either accept, counter, or walk away.

Who is the broker who listed the contract? There's one company (I don't know if I'm allowed to mention their name) that does their process via a bidding system. If that's who you're negotiating with then I would call and give them a deadline immediately. I know you want the contract, but this is unacceptable without any justification. Also, I don't have the FL code in front of me, but brokers are required to provide all offers to their client regardless of how low they think it is.

 

[ziravan]

So- we offered 6 days ago and have not heard anything. I did follow up last Friday and they were waiting to hear from the seller. Maybe this was too low? I figured they would counter a little higher and then we would take that.... but the waiting is tough!

A seller this slow to respond to an offer will be equally as slow returning paperwork. I'd pass and find another seller.