Selling a large membership with multiple contracts

[icydog]

Anyone else selling their points outright? I am going to sell all my contracts. I have contracts with a large total number of points spread out in several resorts and I want to sell them all.

Has anyone ever sold many contracts in one membership before?

 

[JimMIA]

Your thread will probably be closed because it could be misconstrued as an ad to sell your points, but I'd say the best people to ask that question are the resale agents.

We haven't sold any contracts yet, but I don't see any special problem in selling multiple contracts except that you will have to pay estoppel and ROFR fees for each one. Just a lot of paperwork.

 

[icydog]

Your thread will probably be closed because it could be misconstrued as an ad to sell your points, but I'd say the best people to ask that question are the resale agents.

We haven't sold any contracts yet, but I don't see any special problem in selling multiple contracts except that you will have to pay estoppel and ROFR fees for each one. Just a lot of paperwork.

Nope I am not selling them here. But thanks for the heads up. I am listing them with a broker today or tomorrow.

I was only interested in finding out if anyone has ever sold multiple contracts for such a large number of points...I think it will be alright but as you mentioned, with so many contracts, it will be a bear to administer.

 

[JimMIA]

The way I would look at it, and the way I think it will work out, is that you will actually be selling a large number of small contracts. I'd think they will sell quickly and easily, even if some of them are stripped.

You'll have to do a whole bunch of paperwork because each contract will have to be sold separately, and you'll have to pay $70 each (I think that's the right number) on each contract for ROFR and estoppel fees. But other than that, I don't see any big issue unless some of the contracts are financed.

 

[JimMIA]

Now that you removed the specifics of the contracts, the thread should be fine, and maybe you'll get some feedback from others who have actually done it.

 

[Deb & Bill]

I think we posted four of our five contracts for sale once. We ultimately sold two of them and kept the other three. But we might sell again in the future. You'll pay a 10% commission at a minimum. Might be a bit more or a little less.

 

[icydog]

The way I would look at it, and the way I think it will work out, is that you will actually be selling a large number of small contracts. I'd think they will sell quickly and easily, even if some of them are stripped.

You'll have to do a whole bunch of paperwork because each contract will have to be sold separately, and you'll have to pay $70 each (I think that's the right number) on each contract for ROFR and estoppel fees. But other than that, I don't see any big issue unless some of the contracts are financed.

I pay the estoppel and ROFR fees? Isn't that included in the fees the buyer pays?

 

[JimMIA]

I pay the estoppel and ROFR fees? Isn't that included in the fees the buyer pays?

You'd have to check with your resale broker to be sure, but I believe those small fees are usually paid by the seller. I don't know if there is some reason why the seller pays those fees.

The buyer usually pays the closing costs, which range from $300 and change up. The estoppel and ROFR fees are not part of the closing costs -- they're pre-closing.

 

[BWV Dreamin]

Not true. Everything is negotiable. Certain brokers like to mandate certain fees to either the buyer or seller, but in reality it's up to how the seller wants to list the terms.

 

[Brian Noble]

While that's true, listing contracts with unusual terms (i.e. "buyer pays ROFR free") in the current market environment is likely to have buyers looking elsewhere---and in most cases, it is still a buyer's market. If you are worried about recouping those costs, it would be better to built them into the per-point price you are willing to accept.

 

[Dean]

Anyone else selling their points outright? I am going to sell all my contracts. I have contracts with a large total number of points spread out in several resorts and I want to sell them all.

Has anyone ever sold many contracts in one membership before?

technically and realistically each contract would be a separate sale, even to the same person. I'd just list them individually. You'll get more per point and I doubt you'll find much savings in negotiating closing costs or sale commissions. It'll also be much easier to sell. Most list them non exclusively so you could alway search for an individual willing to work with you to share in the savings of avoiding the commission and cheaper potential closing while listing them for sale with a broker.

 

[Jason@dvcstore]

Anyone else selling their points outright? I am going to sell all my contracts. I have contracts with a large total number of points spread out in several resorts and I want to sell them all.

Has anyone ever sold many contracts in one membership before?

In my opinion you are going to have the most success listing your properties separately and finding different buyers for each. That should generate the highest price per point.

At The Timeshare Store, Inc.® we have a seller that has sold 27 different contracts so far and he actually lists them 1 at a time. Once one sells he puts another on the market.

Jason

 

[icydog]

In my opinion you are going to have the most success listing your properties separately and finding different buyers for each. That should generate the highest price per point.

At The Timeshare Store, Inc.® we have a seller that has sold 27 different contracts so far and he actually lists them 1 at a time. Once one sells he puts another on the market.

Jason

I listed them, but I listed them all at once. The buyers have no way of knowing I have multiple contracts listed for multiple resorts. For multiple contacts, valued above $120K, I would think any broker would have been chomping at the bit to work with me. BTW, I sold two contracts the first day they were listed!!

 

[adminjedi]

The buyers have no way of knowing I have multiple contracts listed for multiple resorts.

Actually, the listings reveal same seller contracts by the listing number within each resort.
Example: AKV 232A / 232B / 232C or OKW12345 / OKW12345-1

In fact, my guess based on the resale listings would be that you have AKV, BCV, BLT Sept UY, possible Dec UY as well.

 

[icydog]

Actually, the listings reveal same seller contracts by the listing number within each resort.
Example: AKV 232A / 232B / 232C or OKW12345 / OKW12345-1

In fact, my guess based on the resale listings would be that you have AKV, BCV, BLT Sept UY, possible Dec UY as well.

Good detective work. You're almost correct. I do have AKV, OKW, BLT,BCV but I also have Vero Beach and they are all Sept use year. Really good job adminjedi

 

[adminjedi]

Good detective work. Really good job adminjedi

I am just sorry that you need to bail 100%. I don't know what led to that decision, but I sense it is more personal and relational than about DVC or Disney. Whichever, I hope it all works out for you.

 

[icydog]

Right again. My husband died on January 30th. I just don't have the same enthusiasm for anything anymore plus I could use the money. I still love DVC and will miss going to visit Mickey on a regular basis.

 

[adminjedi]

Right again. My husband died on January 30th. I just don't have the same enthusiasm for anything anymore .

Sorry I was right this time. I know a little about loss and grief...hang in there. One day, in time, you will find joy again. Then, you can re-visit Mickey remembering and appreciating the past, accepting the present, and looking forward to the future.

 

[lugnut33]

Right again. My husband died on January 30th. I just don't have the same enthusiasm for anything anymore plus I could use the money. I still love DVC and will miss going to visit Mickey on a regular basis.

Sorry to hear that.

 

[GrumpyPOTFH]

In my opinion you are going to have the most success listing your properties separately and finding different buyers for each. That should generate the highest price per point.

At The Timeshare Store, Inc.® we have a seller that has sold 27 different contracts so far and he actually lists them 1 at a time. Once one sells he puts another on the market.

Jason

New here, here is my odd question, why would someone have 27 contracts?