Selling DVC Contracts Thru Facebook

[atthebeachclub]

There are many scams involving online payment methods that people need to be familiar with. The seller might not lose their contract but they are at risk of losing some funds or having accounts compromised if they’re not aware.

That is before we get into the 100 “is this still available?” or ghosted messages they will get.

If the money is going through a title company it is hard for me to imagine how this scam might work.

 

[VandVsmama]

I’m curious why you feel Facebook is a bad place to try and sell your timeshare?

I mean if you use a contract and a reputable title company what is the chances that you would get scammed?

If the buyer don’t pay there won’t be any change of owners ship etc.

My reason is in my post. Too many scam artists. I wouldn't buy or sell ANYTHING, including a timeshare, on Facebook.

Also, NO ONE will be willing to pay close to 'full price' (aka the price that you paid when purchasing direct from Disney) on a resale contract. Anybody who would is either: (a) dumb, foolish, or naive; or (b) a scam artist and looking to steal your money, your timeshare, your identity, or all 3.

 

[CarolynFH]

If allowed, can someone share a couple FB groups where someone might sell their DVC. I'm in a couple, but they are more rental oriented. Have a friend who must sell a large contract they just bought Direct and they are already "upside down" before commissions so I'm trying to help them find options. Thanks!

Have they tried calling DVD and explaining the issues they’re facing that require them to sell so soon? What do they have to lose?

 

[Cyberc1978]

There are many scams involving online payment methods that people need to be familiar with. The seller might not lose their contract but they are at risk of losing some funds or having accounts compromised if they’re not aware.

That is before we get into the 100 “is this still available?” or ghosted messages they will get.

If payment goes through a title company how can you lose money?
The 100 messages that’s definitely a possibility

My reason is in my post. Too many scam artists. I wouldn't buy or sell ANYTHING, including a timeshare, on Facebook.

Also, NO ONE will be willing to pay close to 'full price' (aka the price that you paid when purchasing direct from Disney) on a resale contract. Anybody who would is either: (a) dumb, foolish, or naive; or (b) a scam artist and looking to steal your money, your timeshare, your identity, or all 3.

In this case the title company is handling the funds, at no risk to you.

You are right that no know would pay full asking if that was what you paid from Disney. However if you priced it right I assume that it would sell.

 

[VandVsmama]

If payment goes through a title company how can you lose money?
The 100 messages that’s definitely a possibility

In this case the title company is handling the funds, at no risk to you.

You are right that no know would pay full asking if that was what you paid from Disney. However if you priced it right I assume that it would sell.

I vote for other people trying this first. Y'all can report back.

 

[CastAStone]

I see all the back and forth on whether Facebook is a good place to sell DVC contracts, and I think the answer is no, not because of scams specifically, but because no group exists where the right buyers would notice it. You could have them list it on FB Marketplace but I’m doubting that generated bites. I might be wrong.

I think @CarolynFH ’s advice in post 2 about TUG and Redweek is the right answer, personally.

 

[RichVIII]

An old Spanish maxim - “The cheap comes out expensive.”

I agree with others, people will look for deals, waste time and the audience of the brokers (people wanting to get text messages and daily emails about DVC) is why they can charge what they can. They also are going to be upfront about what you can charge or how to price it to move. It sounds like a crappy situation and I am sorry for your friend.

I am also with others. Can they quickly rent their points out and hold tight?

 

[starry_solo]

Have they tried calling DVD and explaining the issues they’re facing that require them to sell so soon? What do they have to lose?

My thoughts exactly! If they have a mortgage on it that is financed through DVD, then maybe they can "sell" it back for the cost of the mortgage (deed in lieu of foreclosure)?

 

[DVCanadian]

My thoughts exactly! If they have a mortgage on it that is financed through DVD, then maybe they can "sell" it back for the cost of the mortgage (deed in lieu of foreclosure)?

Can’t hurt to call member service and chat.
I think Disney will buy back your contract for a bit under resale value but it goes faster.

Buying direct is just like buying a new car, big depreciation 5 minutes after the sale is completed. If somebody needs to sell within a year of direct purchase they will lose a substantial portion.

If they have financed the purchase it is worse, which sounded like the OP’S friend.
If you paid cash for a contract, you can rent for at least double the dues and easily manage the dues owed. but if also owing on a financed contract, not sure dues rental will cover both dues and the loan.

 

[DanCali]

Buying direct is just like buying a new car, big depreciation 5 minutes after the sale is completed. If somebody needs to sell within a year of direct purchase they will lose a substantial portion.

Buying a timeshare is different from most other things. Less relevant to DVC specifically, but it is often during a high-pressure 2-3 hour sales pitch that is filled with lies and misrepresentations. Many of those who buy timeshares direct have no idea that there is a resale market and what the prices on that market are. Not so with new vs used cars, where you can negotiate prices within a certain range but everyone knows about the "new vs used" purchase option and the price disparities.

Cars depreciate and timeshares depreciate but car depreciation is typically 20% after 1 year and 40% after 3 years. Timeshare depreciation can be 50%+ after 10 days (once you can't rescind) and even 80%+ with other timeshare developers. But, thanks to state laws, at least you can get rid of a new timeshare in the first 7-10 days without losing anything. You can't do that with most new car purchases.