Sad news...thinking we might have to sell our contract

[cindybelle]

I hope this is the right place to ask this qustion....sorry if I'm in the wrong area. I was just wondering if any of you have had to sell your contracts? DH was out of work of 6 mos and selling our contract would help us get out of the hole we got into and help our finances not be so tight now that we're looking at buying a home.

We really don't want to sell, but it seems like the financially smart choice. We just don't know what the selling procedure is? Who do we contact first?
Any help would be greatly appreciated.

 

[dianeschlicht]

Contact the Timeshare Store advertised at the top of this page and let them tell you what you can expect from selling your contract. It will depend greatly on which resort and how many points. If you are one of those who owns at BCV, you will make out much better than if your points are at SSR.

 

[calypso*a*go-go]

Sorry you might have to sell. I agree with Diane...if you have points @ SSR you might have to wait awhile as there seems to be a glut of them on the market right now compared to the other resorts. If that's the case, you might want to rent out any unused points as it will help in two ways: keep you from losing any points, and take away the temptation for a visit you may not be able to afford while you're getting your finances straightened out. Best of luck to you!

 

[ZachnElli]

Cindy, we were in the same situation. Except DH was unemployed for 1 year. So we put it up for sale, it's now in ROFR. We love DVC, but it was a wise choice. Not a fun choice, but a wise one financially. Definitely heartbreaking. We WILL buy back in as soon as we can. Good luck!

 

[lisaviolet]

Hi,

First off. Sorry that you are in this position. I just wanted to add that others in your position have considered/or did a small add on before they sold their original contract.

A small add-on, buying while you are still a member, allows one to still have all the perks and still have most of the money from the original contract available.

Obviously, only you know what is best for your family but I just wanted to share this strategy to have money but still be a DVC member.

All the best to you,

Lisa

 

[dvcjim]

the good news is you bought DVC vs an other time share that would be hard to sell, and would have a mkt value of 30% retail.

you will be able to sell your time share very quickly if you price it right.

Good luck.

 

[Sammy]

Yep...we just had to do the same thing But, right before we closed on our main contract, we purchased a very small (25 points) add-on. We figured we'd be able to remain members, still have all the perks, and be able to transfer points in for any reservations. It was a sad day when we had to sign the closing papers on the sale, but then again, the new dues statement was very nice (only $9.xx per month!!)

 

[dvcjim]

Yep...we just had to do the same thing But, right before we closed on our main contract, we purchased a very small (25 points) add-on. We figured we'd be able to remain members, still have all the perks, and be able to transfer points in for any reservations. It was a sad day when we had to sign the closing papers on the sale, but then again, the new dues statement was very nice (only $9.xx per month!!)

doing a 25 pt add on prior to selling is agreat idea.

makes a lot of cents.