Resale Start to Finish... The "Seller's" Perspective

[Beth]

I don't know if this would interest anyone, or not - but I thought I'd share, anyway...

We recently decided to sell one of our add-on contracts. We decided to use Shontell Crawford to list the sale, for convenience's sake, if nothing else. (We listed it briefly on TUG - but just didn't feel we had the expertise to get the job done - thanks Dean, for trying to help, anyway...)

Shontell emailed me the contract in early September. We finally made the decision on Thursday, September 18th - late in the afternoon. We signed her contract and faxed it to her. The next morning - 9/19 - she had a buyer. We were leaving that morning for a week's vacation - but I knew I would have access to email and fax machines - so I told her to go ahead and email me the documents. I received them and faxed them back to her probably on Monday or Tuesday, 9/22 or 9/23.

On Friday, October 10th, Shontell notified me by email that Disney had chosen not to exercise their ROFR on the sale, and indicated that we would receive our closing documentation about 1 week prior to closing - set for October 31st.

We received the closing documentation from the attorney on about 10/17. I had it notarized and back to them by Thursday, the 23rd.

We got our proceeds check this past Saturday, 11/01 - one day after the scheduled closing.

So - all in all - it took about 6 weeks from the day we chose to sell the points 'til the day we got the $$. We were very satisfied with the entire process.

Hope this helps anyone who might be wondering how long the whole process could take. Obviously, extenuating circumstances could delay the process - our's apparently went through "without a hitch."

 

[floridafam]

Wow. That sounds like it went very well.

May I ask what resort you were selling at? and how many points?

Did you ever feel that you would have a problem selling?

Thanks in advance.

 

[Beth]

Sure. We were selling 65 points at OKW.

No - I wasn't concerned that they wouldn't sell - our contract was intact with all 2003 points. But I just didn't have a comfort level in handling the transaction, myself.

 

[Happy Birthday Cat]

Beth: Thanks for the different perspective. We hear from so many buyers that it's nice to hear how things went from the other side of the equation.

HBC

 

[Simba's Mom]

Thanks, that was a very interesting report. It's great to hear that you had a buyer so quickly-the next day! I'd love to hear from some other sellers as to how close to their experience this is.

 

[jekjones1558]

Beth
How did you know what to ask for a price? A guess from watching resale sites or did Shontell suggest something appropriate? I would assume that agents have a pretty good idea about the going rate, full or stripped contract, etc.

 

[Beth]

jekjones1558...

I did a little research... Of course - I scanned this board for relevant info; I scanned the resale listings; and I PMed a few DISers for their opinions. And, yes, I asked Shontell as well.

Granted - when I said, "Shontell, do you think I could get xx dollars for them?" She of course knew the buyers she had on the line, and knew what they would be willing to pay... so, when she said, "Yes" - I shouldn't have been surprised when she called me less than 24 hours later to say they were sold!

But I'm satisfied with the price I got. Of course - I'm second-guessing myself and thinking I could have gotten $1 or $1.50 MORE - but who's counting?!?

 

[jekjones1558]

Beth
This was a very interesting thread for me. We don't expect to be selling in the near future (we're actually waiting for ROFR right now), but at my age one never knows when health may change everything. Thanks for posting!

 

[vicandmick]

Hey Beth.....just wondering the cost of your 65 points. we have 150 points. I'm thinking of purchasing more. let me know. thanks.
varoberts54@aol.com

 

[jrintels]

May I inquire what the agent's commission was and what other closing costs you paid? In other words, the difference between the sales price and the check you actually received. Also, did you shop around to compare the commission costs of various brokers? I apologize in advance if I'm being too nosy. Thanks, Jon

 

[rbuzzotta]

Glad to hear the 'sellers' side. Shontell was great with our first OKW resale. Wish she had handled this one we are trying to close on. It is taking forever and the closing company seems to be very disorganized!!! We were suppose to close on 10/16 and they have my money and paperwork but haven't closed yet............

 

[Cruelladeville]

I, too, would be interested in knowing what Shontell's commission is, and who paid it, the seller or the buyer. Am I correct in assuming that the commission is the buyer's responsibility? I have 105 pts from BCV that I am thinking of selling--Shontell has an OKW contract that I would like to buy, but I need to know what the seller has to pay for. Thanks for keeping track of all the dates, it was interesting hearing about how things work from the seller's perspective.

 

[Nick@ VB+OKW]

Beth

Very usefull post. Are you going to add on somewhere else now?

 

[Beth]

Ha! Nick - I did it the same week!!
That was our motivation for selling the contract ... I decided I needed the 11-month window in the EPCOT area for F&W, Christmas, and/or F&G!

We sold 65, and bought 85 - to finally reach that even 5-0-0!!!

... DH tells me we're done, now...

To the others who wanted more specific $$ details - I'll PM you later today..