Selling a contract with a current reservation.

[La2kw]

I’ve added on before, but have never sold a contract. If I have a current reservation using some of the points in the contract I want to sell, does that reservation get cancelled when I sell the contract? I have another contract Im keeping but those points have not been used yet. Do I need to wait to sell it until after I complete the stay?

 

[JETSDAD]

A transfer can't happen with an active reservation. You would either need to cancel or do a delayed closing where the closing would occur after your trip.

 

[MinBz]

I put in an offer on a resale contract in September with a delayed closing because the owner has a reservation. Listing said “closing can not be earlier than xxxx”. I’m STILL waiting to close since their trip isn’t until 2022. The waiting is agonizing but crazy people like me still buy them.

 

[La2kw]

I put in an offer on a resale contract in September with a delayed closing because the owner has a reservation. Listing said “closing can not be earlier than xxxx”. I’m STILL waiting to close since their trip isn’t until 2022. The waiting is agonizing but crazy people like me still buy them.

Our trip isn’t until June. Glad to know there can still be a buyer with a delayed closing. Thanks!

 

[La2kw]

A transfer can't happen with an active reservation. You would either need to cancel or do a delayed closing where the closing would occur after your trip.

Thanks for the good advice. That’s what I figured but I hadn’t thought of doing a delayed closing.

 

[Jimmy Geppetto]

Thanks for the good advice. That’s what I figured but I hadn’t thought of doing a delayed closing.

Just keep in mind that you lose some potential buyers because of the delayed closing. In addition to that, you could have a buyer walk away from the contract (and forfeit the deposit) and not close on it because they either found a better contract or were tired of waiting. Some Brokers mandate buyers place a 10% deposit, others only require $500 regardless of contract value.

 

[davidl81]

If I was selling a contract with a delayed closing I would not list it till about 2-3 months before my reservation. That way the actual delay in closing would be fairly small.

 

[Paul Stupin]

I bought a CCV contract last February with a delayed closing the following October of this year. The price made the wait worth it. I was concerned the seller would back out as the price skyrocketed over the spring and summer, and they could have made more money by backing out and selling the contract again, even if they had to pay the broker’s commission. Luckily everything worked out, but I didn’t get the points loaded until November.

 

[carseatguru]

I am currently in the process of selling a contract with a reservation Jan. 2-5 with closing on Jan. 20. I've had it listed since July and I figured it wouldn't sell until closer to January.

 

[Ronaldo17]

If I was selling a contract with a delayed closing I would not list it till about 2-3 months before my reservation. That way the actual delay in closing would be fairly small.

Good advice IMO, less time for things to go wrong

 

[Sandisw]

I have bought and sold several with delayed closing. It worked really well and was told there are people who are looking for them because it can push the fixanancul piece out which can be big.

Of course, there is the risk of a buyer backing out..slim chance IMO..but you get a share if not all of the deposit when they do which could offset any downturn in the market.

 

[RobDoc]

This past summer we listed a contract with an existing reservation in October. The buyer made a lowball offer and we countered $1 lower than the original listing price and they accepted.

DVC used ROFR and took the contract.

The closing was done by Disney the week after the reservation and the funds were direct transferred into our bank account the same day. DVCResaleMarket got their commission, we received the same amount we would have received from the buyer.

The potential buyer was the only loser in the deal.

 

[macman123]

I have brought with a delayed closing. It was PVB at $143pp. Now worth a lot more.......

It was delayed by about 6 months.

 

[RoseGold]

You can transfer the points to your other contract and rebook it with the other contract. I'd transfer anyway and sell it stripped.

 

[Paul Stupin]

I have brought with a delayed closing. It was PVB at $143pp. Now worth a lot more.......

It was delayed by about 6 months.

Sounds like it worked out for you too. I don’t think I’d do a delayed closing again though. It’s not optimal, and by the time closing rolled around I had just assumed for so long that I had the points that it felt like I was paying for what I already owned.

 

[JETSDAD]

You can transfer the points to your other contract and rebook it with the other contract. I'd transfer anyway and sell it stripped.

Only if they are separate memberships (not just separate contracts) and the points haven't been banked or borrowed.

 

[Sandisw]

You can transfer the points to your other contract and rebook it with the other contract. I'd transfer anyway and sell it stripped.

The trip can be modified to use those points that way as long as they are same home resort if booked more than 7 months out in the same UY.

But unless you have two membership, there is no such thing of transferring points between contract.

 

[La2kw]

You can transfer the points to your other contract and rebook it with the other contract. I'd transfer anyway and sell it stripped.

Transfer the points that are being used for the June reservation? The reservation is for three weeks at Aulani and there is very limited availability in June to rebook.

 

[La2kw]

I have bought and sold several with delayed closing. It worked really well and was told there are people who are looking for them because it can push the fixanancul piece out which can be big.

Of course, there is the risk of a buyer backing out..slim chance IMO..but you get a share if not all of the deposit when they do which could offset any downturn in the market.

pushing the financial piece out makes sense. I hadn’t thought of it that way.

 

[La2kw]

This past summer we listed a contract with an existing reservation in October. The buyer made a lowball offer and we countered $1 lower than the original listing price and they accepted.

DVC used ROFR and took the contract.

The closing was done by Disney the week after the reservation and the funds were direct transferred into our bank account the same day. DVCResaleMarket got their commission, we received the same amount we would have received from the buyer.

The potential buyer was the only loser in the deal.

Did you list it as a delayed closing too?