Selling a contract to a friend?

[Tarheel Tink]

I may sell one of my DVC contracts and a good friend who goes at least yearly to WDW and has stayed with us on some trips wants us to give her first option to purchase it. If we do sell it, would going through a time share broker be the best route or could a NC realtor handle it? Please pardon my ignorance, we bought direct and it was very simple for us!

 

[maburke]

If you have a buyer, you don't want a realtor at all. They'll take 10% or more of your proceeds to find a buyer, which you've already done. You may need a title company, and you'll still have to go through Disney's ROFR. Dean will have better advice than me on this, though.

 

[Sandisw]

I had heard that some of the brokers will handle things for a flat fee vs. the typical commission if you have your own buyer. I might give one, like the TSS, a call and ask if they have a way to handle a situation like your situation.

 

[RhettsMom]

I sadly, do not own DVC, but my family used to. They sold their WL contract to close family friends. They told me that by telling Disney that these people were family they were able to bypass the ROFR policy. I believe they told Disney they were cousins or something, and nothing had to be verified in regards to relation. Not sure if this is still the case, but thought I would through it out there for you to look into if you want to.

 

[Tarheel Tink]

Thank you all for the input (and on a holiday!). It is much appreciated.

 

[RobDoc]

I'd be very cautious about falsifying a legal document in that fashion since it is fraud. Disney has the Right of Refusal. If a resale was falsified there could be legal consequences for all parties involved.

IMO, it is certainly not worth going thru something like that so save a few $$ on a resale purchase.

 

[twoj]

I would not use a broker if you have a buyer there is no point in paying the fee. I would look at the boards to find a title person who is experienced with a timeshare closing... A broker should only be used to find a buyer they don't add much else...

 

[Tarheel Tink]

So a title company may be all that is needed?

 

[Dean]

So a title company may be all that is needed?

Actually you don't need a title company, you really don't even need a closing company for this situation. All you need is to contact DVC and fill out the Transfer info and submit for ROFR. Then once you have that, you need a deed and to have both recorded. Then there's another form and a copy of the deed to DVC. It's illegal in all states I know of to put info that's not accurate as it relates to the sales agreement. They buyer will lose the qualified status of the points if they're a friend rather than family and needs to know that. If you're uncomfortable with doing the deed yourself, Timeshare transfers will do a deed, last I heard for $100. Timeshare traders will do the entire thing for $95 plus recording fees and postage. Getting title insurance in this situation would be unreasonable unless there were an impending divorce or bankruptcy type situation.