Sell a Disney Timeshare without a broker?

[dshaw]

I read about this before...I have a buyer and would like to sell my DVC Timeshare. How do I go about doing this without using a timeshare broker? Does anyone have any insight?

 

[spiceycat]

I think Dean has done it.

you just need to find a good closing company.

 

[RobDoc]

You will need to submit your accepted offer to DVC for Right of First Refusal review. Once they have made their decision to accept or pass the offer, the deed will need to be recorded with the county. A closing company or attorney can assist with that (some have reported handling those details themselves with limited outside assistance required) - you'll need to make sure both parties understand who will pay those costs in advance. Once closed, the information will need to be sent on to Disney to be included in the DVC computer system in order to begin making reservations.

 

[Scotch]

I bought our first DVC contract from another owner after responding to his ad on TUG. We reached an agreement via price by email, typed up the agreement, and we used a professional closing company (there are a few options) to handle the closing. The owner called MS and got instructions re how to notify DVC of the impending sale to trigger the ROFR process. After DVC responded to him in writing (I think it was via email), he passed the notice to the closing company and it started the paperwork. Some closing companies will do the ROFR submission for you either as part of the price or for a fee. By going through a private sale that owner received more of the proceeds and I was able to pay a slightly lower price per point for our BCV contract, so we were both happy. It is not for everyone, of course, since some just do not want to deal with the process and prefer to pay a broker for the service. I've sold several other non-DVC timeshares in the past, and it really is not a big deal, just some additional investment in time placing ads, responding to ads, etc. A coupld of good places to advertise are www.tug2.com's classified ads, $10 (I think) an ad and www.myresortnetwork.com, around $15 an ad. I've also used eBay -- it reaches the biggest audience and you finish the process quickly (just the length of the auction) but it is more involved if you are not already an experience eBay user.

Edited to add: I forgot to mention that the past owner and I handled everything via email. I asked for verification of his ownership by seeing a copy of the deed and his current points account statement (which he obtained via a call to MS). He scanned them and email them to me. And we transmitted the contract via email as well. The last person to sign either faxed the final copy with all signatures back or scanned then emailed the copy -- I can't remember which. So everything in writing was always there -- no misunderstandings.

 

[BillM]

We have done this. Pull up www.timeshareclosingservice.com
They will handle everything.

 

[belsam]

I used www.timesharetransfer.com and recommend them highly. They were professional, effecient, and reasonable. My biggest problem was getting an answer from Disney for ROFR. They kept losing the paperwork!

 

[Disney Fanatic]

We bought from My Resort Network which was a private seller from Montana.

We are from Canada and did everything except one phone call via e-mail.

Contacted Timeshare Closing Services and they handled the rest.

They are great to deal with and can't say enough about their professional service.

 

[JimC]

Another recommendation for Timeshare Closing Services.

 

[Dean]

Timeshare transfer will be the cheapest for a full closing service for a reasonable size contract at about $250. It's actually very easy to do even yourself and save all closing costs except the recording fees. You simply need a contract that spells out everything including number of points, home resort and who pays what. Then you submit for ROFR. If it clears, you then need a deed, signed and recorded along with DVC notification.

 

[manning]

You will need to submit your accepted offer to DVC for Right of First Refusal review. Once they have made their decision to accept or pass the offer, the deed will need to be recorded with the county. A closing company or attorney can assist with that (some have reported handling those details themselves with limited outside assistance required) - you'll need to make sure both parties understand who will pay those costs in advance. Once closed, the information will need to be sent on to Disney to be included in the DVC computer system in order to begin making reservations.

Understanding who pays what has to be included in the contract to avoid any disputes. Under real estate contract law everything agreed to must be included in the contract to be enforceable.

 

[msdis]

It may be harder if not going thru a closing service to purchase title insurance. Worth it to protect your investment.

 

[Dean]

It may be harder if not going thru a closing service to purchase title insurance. Worth it to protect your investment.

I seem to be in the minority to think that title insurance isn't important to DVC if you do minimal home work. You can easily check with DVC to see that all is in order, with the sellers permission of course. And the title is a matter of public record and available online. And since it's the laws of FL that apply (except for HH), you don't have to worry much about a none titled spouse. On the one I sold that DVC bought under ROFR, it was only under my name. When I asked if my wife needed to sign to sell it, DVC said it wasn't needed.

 

[Scotch]

I seem to be in the minority to think that title insurance isn't important to DVC if you do minimal home work.

I agree. With title records for Orange County available online, there is no or little reason to buy title insurance as any recorded liens -- a rarity for a timeshare -- would/should show up. If they do not show up in the official records, title insurance would not protect you anyone as the typical terms of the insurance policies only cover for obvious liens and deficiencies. Of the two DVC resale contracts I've bought, I only had title insurance the time I bought through a broker because it was a required part of the closing costs/deal. For our other resale contract my online search showed the buyer had originally financed a portion of the purchase price from DVD and then paid it off two years later, as all of the documentation were recorded. Whenever title insurance is a *require* part of the closing, the closing fees are obviously higher and I have always felt that those are a bit rip-offs for instances such as buying a DVC-WDW contract.