Selling A DVC Membership

[Wendybird55]

Hi,

We've been renting points from friends the past 2 years. Recently we were discussing the possiblity of purchasing their DVC membership (They originally bought it for grandchildren who are gettting older and not as interested and though they like Disney - they wouldn't go often enough to keep DVC - hence that's why we rent from them).

I've looked at the timsharing re-sale site linked the the DIS site. What I am curious about is how and can a member sell their timeshare without going thru a 3rd party. Can my friends sell their timeshare directly to me? I know they'd probably have to go through Disney, but how complicated is the process?

Does anyone know or have any advice?

Thanks

 

[Chuck S]

You would have to submit the agreed upon price to DVC, they have right of first refusal (ROFR), and they can purchase it from the owners rather than letting them sell it to you. So I would at least offer them something comparable to most of the asking prices you see on resale website.

Once DVC has signed off on the ROFR, you would need to have a deed drawn. Depending upon how well you know these folks, assuming they don;t have a lein or other encumbrance against the DVC deed, you likely would not necessarily want a title search and title insurance. You could probably draw up your own Quit-Claim deed, and have it notarized. You would then to file the new deed with Orange County (assuming they own a WDW Property) and pay any recording fees.

Or, you could contact a resale office, and see if they can recommend a closing company, who can handle all the paperwork for you.

 

[Wendybird55]

Thanks for the info Chuck.
I did look at the re-sale site and the prices listed for SSR (their home resort) were in the ballpark of what we were thinking. I would want to give my friends a fair deal.

It's still in the talking stage - if we decide to pursue it I would like it as simple a transaction as possible -but it looks like lots of paperwork.

Sounds like the first thing is to discuss price and then move from there. Do you know if Disney usually refuse resales? I would think they would refuse if the selling price was too low or if they knew they could sell it at better rate quickly.

Thanks Again

 

[Donald is #1]

Thanks for the info Chuck.
I did look at the re-sale site and the prices listed for SSR (their home resort) were in the ballpark of what we were thinking. I would want to give my friends a fair deal.

It's still in the talking stage - if we decide to pursue it I would like it as simple a transaction as possible -but it looks like lots of paperwork.

Sounds like the first thing is to discuss price and then move from there. Do you know if Disney usually refuse resales? I would think they would refuse if the selling price was too low or if they knew they could sell it at better rate quickly.

Thanks Again

Disney does exercise ROFR periodically. If you take a look at the ROFR thread, you may be able to get an idea on what has been passing ROFR and what has not been passing ROFR. ROFR Thread

 

[Califgirl]

You would have to submit the agreed upon price to DVC, they have right of first refusal (ROFR), and they can purchase it from the owners rather than letting them sell it to you. So I would at least offer them something comparable to most of the asking prices you see on resale website.

Once DVC has signed off on the ROFR, you would need to have a deed drawn. Depending upon how well you know these folks, assuming they don;t have a lein or other encumbrance against the DVC deed, you likely would not necessarily want a title search and title insurance. You could probably draw up your own Quit-Claim deed, and have it notarized. You would then to file the new deed with Orange County (assuming they own a WDW Property) and pay any recording fees.

Or, you could contact a resale office, and see if they can recommend a closing company, who can handle all the paperwork for you.

how would you do that? Does Disney have a form for you to submit?

 

[backyardponder]

Assuming you reach an agreed upon price, I'd have the DVC member contact MS and ask what the process is. My guess is they have something they could either point to on line or email.

 

[PADisFam2]

This may seem like an odd question, but who do you make the check out to, if you make it thru ROFR. Does the person who is buying make the check out to Disney or do they make the check out to the person who is selling the DVC contrat?

 

[Chuck S]

If you pass ROFR, you are buying the contract from the DVC Owner, not Disney. The check is made out to the owner just like any other real estate transaction. If you go through a closing company, they may use an escrow service, and you'd probably make the check out to some sort of escrow account.

 

[PADisFam2]

If you pass ROFR, you are buying the contract from the DVC Owner, not Disney. The check is made out to the owner just like any other real estate transaction. If you go through a closing company, they may use an escrow service, and you'd probably make the check out to some sort of escrow account.

Thx!

 

[huffdog22]

good info