Selling a contract?

[IsDVCForMe?]

I understand this sub forum is called “Purchasing DVC” but let’s do a little 180. What if you want to sell your contract? Is it difficult like other timeshares to sell? What are the costs that come with selling?

 

[VGCgroupie]

Typically not difficult. Brokers charge a fee to list and assist with selling. Those fees vary.

There are closing costs, admin fees and estoppel fees involved. Which can be paid by seller or buyer depending on the negotiation offer from the buyer.

This is a great tool https://www.dvcresalemarket.com/selling/what-is-my-dvc-contract-worth/

 

[cruisehopeful]

Not hard at all with the site sponsor. I put my information in their online tool and it gave me a number, higher than what similar contracts were going for. After that, I filled out their online form for listing. I think it was listed a couple days later and I had a buyer about 2 weeks later.

Andy was my contact for the listing and another agent sold it. They were both wonderful to work with. I did check a second agency for what they recommended my list price to be and it was lower than what I sold my contract for. The second agency was pushier, too, but it wasn't bad. It just wasn't nearly as good as the site sponsor.

 

[IsDVCForMe?]

Not hard at all with the site sponsor. I put my information in their online tool and it gave me a number, higher than what similar contracts were going for. After that, I filled out their online form for listing. I think it was listed a couple days later and I had a buyer about 2 weeks later.

Andy was my contact for the listing and another agent sold it. They were both wonderful to work with. I did check a second agency for what they recommended my list price to be and it was lower than what I sold my contract for. The second agency was pushier, too, but it wasn't bad. It just wasn't nearly as good as the site sponsor.

This is all good info. What are the typical fees besides commission with selling?

 

[cruisehopeful]

This is all good info. What are the typical fees besides commission with selling?

I paid commission+ Estoppel fee ($150 goes to Disney) + remote notary (optional $159) + $35 ( I think) wire transfer fee.

The only thing I'm sore about is the $35 wire transfer fee. My paperwork said I needed to pay and fill out a form if I wanted wire transfer instead of a check sent FedEx. I wanted the check and thought I could omit the form for the transfer. The online notary didn't have anything that said he could skip the form and wouldn't let me skip it. We were doing the notary at night, past normal business hours so I couldn't get in touch with the closing company. It was the first time in a week that my husband and I were available at the same time for an hour and I wasn't sure when we'd be able to do another notary appointment. So, I said screw it, we'll just do the wire transfer to be done with it.

 

[DanCali]

I understand this sub forum is called “Purchasing DVC” but let’s do a little 180. What if you want to sell your contract? Is it difficult like other timeshares to sell? What are the costs that come with selling?

DVC has a vibrant resale market. If you price it right, or within reason, it will sell (or at least generate some reasonable offers).

 

[Chili327]

I understand this sub forum is called “Purchasing DVC” but let’s do a little 180. What if you want to sell your contract? Is it difficult like other timeshares to sell? What are the costs that come with selling?

Not hard at all, and NOTHING like a normal timeshare. That is what makes DVC different and much more valuable to most… Unfortunately they keep doing things that are leading them to the direction of a normal timeshare that would be harder to sell, but that won’t be a major issue for years if not decades.
If it was like a normal timeshare I don’t think half of us would even be here.

 

[Stargazer65]

What if you want to sell your contract? Is it difficult like other timeshares to sell? What are the costs that come with selling?

Not hard. You may have to pay capital gains taxes for sale of real estate when you file income taxes. You will get a tax form. Make sure that you estimate and put aside some of the proceeds if necessary to pay that during tax season.

 

[intamin]

Not hard at all, and NOTHING like a normal timeshare. That is what makes DVC different and much more valuable to most… Unfortunately they keep doing things that are leading them to the direction of a normal timeshare that would be harder to sell, but that won’t be a major issue for years if not decades.
If it was like a normal timeshare I don’t think half of us would even be here.

The good news is even with restrictions I don't think it'll be worthless like the timeshares you see on ebay. As long as people want to go to Disney World and as long as the cost of buy in and dues is not higher than the rack rate, it'll retain some value even if it's not to the level of the golden days pre-resale restrictions.