Selling DVC Contracts Thru Facebook

[TinkAgainU]

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!

 

[CarolynFH]

They could spend $15 to join the Timeshare Users Group and list it there. https://tug2.com/timesharemarketplace/resales

Or list on RedWeek https://www.redweek.com/sell-my-timeshare

No matter how they find their buyer, they’ll need a closing company to make sure all is done correctly including ROFR. They could use one of the companies shown in the ROFR thread. Another option would be LT Transfers.

 

[jolynne28]

Have they considered renting out the points? This would be an option if they took out a loan, not so much if they paid cash and need it liquid again.

 

[DVCanadian]

If they bought direct recently they will take a loss, there is no way around it.
You can see current selling prices in the ROFR thread.
Selling via Facebook puts extra risk on you and you would need to know and be responsible for the process.

Use an experienced broker.

What resort did they buy? They will probably lose $50-$100 per point. It is a buyers market and no one buying resale will pay close to the direct price when there are many options out there. Sorry for the bad news.

 

[DanCali]

Selling via Facebook put a lot of extra risk on you and you would need to know and be responsible for the process.

Use an experienced broker.

That's solid advice for someone new to timeshares but as long as you use a contract and a reputable closing company that keeps the funds in escrow until the deed is recorded (and can also help with the contract) then there really should be no risk and the seller can save the 8%-10% commission.

We started with Westin/Marriott timeshares and bought mostly resale without brokers. Since DVC transactions tend to happen primarily via brokers, we bought DVC via brokers. But if I were to sell one of our DVC contracts, I'd definitely first try on my own. I wouldn't do it on Facebook - the level of scamming (and fear of scamming) on those groups is too much. Unlike a home, that requires inspections and the one nextdoor may be completely different, selling a timeshare contract/deed is a relatively simple process.

 

[Dis507]

How long ago is ‘just’? Florida has a buyers remorse law that would allow them to get out of it if it’s under 10 days. Might be worth reaching back out to DVC direct depending on the circumstances.

I would avoid FB as an option to sell as it could end up sideways fast.

Just my 2 cents.

 

[Chili327]

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!

Why not just list it with some brokers?

 

[kilik64]

Why not just list it with some brokers?

Trying to save the 8%+ in fees.

 

[Chili327]

Trying to save the 8%+ in fees.

Ah, I see. I’m not sure 8% will be worth it, but I get it. It’s worth a shot if you can find someone.

 

[DanCali]

Ah, I see. I’m not sure 8% will be worth it, but I get it. It’s worth a shot if you can find someone.

Depending on the contract size and/or resale value, 8% may or may not matter that much in total cost (we don't know the details).

But, as a buyer, I wish that those sellers who think that 8% ($10/pt on a $125/pt contract) is no biggie would also feel that way about the last $1-$3/pt when it comes to price negotiations. Some sellers seem to have no problem paying the broker fee but will kill a deal over $1/pt. I think economists refer to it as Mental Accounting.

 

[TinkAgainU]

How long ago is ‘just’? Florida has a buyers remorse law that would allow them to get out of it if it’s under 10 days. Might be worth reaching back out to DVC direct depending on the circumstances.

I would avoid FB as an option to sell as it could end up sideways fast.

Just my 2 cents.

They bought in California which only had a 7 day (per the Disney purchase agreement) cancellation period. But they bought a couple months ago, so a moot point. I think if they use a reputable DVC escrow with title insurance there is little risk to either party - same as any Broker sale. A Broker might be faster if there are not a lot of similar contracts (same points, use year) for sale.

 

[VandVsmama]

I wouldn't buy or sell anything through Facebook. Too many scam artists.

 

[atthebeachclub]

I wouldn't buy or sell anything through Facebook. Too many scam artists.

I bought a whole house through Facebook. Used a title contract and a lawyer for a contract. No problems. I think I am more surprised people don’t sell DVC themselves online; with a good contract and title company your chance of being scammed is very low. Like…I can’t even determine how a buyer would scam a seller in this situation.

 

[Starport Seven-Five]

Depending on the contract size and/or resale value, 8% may or may not matter that much in total cost (we don't know the details).

But, as a buyer, I wish that those sellers who think that 8% ($10/pt on a $125/pt contract) is no biggie would also feel that way about the last $1-$3/pt when it comes to price negotiations. Some sellers seem to have no problem paying the broker fee but will kill a deal over $1/pt. I think economists refer to it as Mental Accounting.

You pay 8% but you also have exposure to a wider range of buyers. I'm guessing anyone buying outside of a broker will expect a discount so the actual savings will be less than 8%.

I wouldn't buy or sell anything through Facebook. Too many scam artists.

Buying is fine as long as you know what you're buying and buy in person.

Selling is a headache for sure.

 

[Chili327]

I bought a whole house through Facebook. Used a title contract and a lawyer for a contract. No problems. I think I am more surprised people don’t sell DVC themselves online; with a good contract and title company your chance of being scammed is very low. Like…I can’t even determine how a buyer would scam a seller in this situation.

Yes, I think it would be very hard to get scammed. No less chance using a broker, since you still have to use a title company.

You pay 8% but you also have exposure to a wider range of buyers. I'm guessing anyone buying outside of a broker will expect a discount so the actual savings will be less than 8%.

Buying is fine as long as you know what you're buying and buy in person.

Selling is a headache for sure.

Thats what I’m thinking, not only skeptical buyers, but also will want discount to not go thru a known broker, but as posted it’s not needed, just a lot more legwork, negotiating and find people that are actually serious.
On FB, you can barely get someone to commit to a $100 bike much less 5 digit real estate. lol

 

[VGCgroupie]

I think the biggest downside to not using a broker if needing to sell quick is that it will much harder to find a buyer. Many people who are spending as much as a direct purchase would cost are going to be leary to buy off FB even if the risk is less due having go through title and escrow so it lessons the buyer pool IMO.

But as to your question Im in a few that are titled for selling but I dont see much selling going on TBH.

There is https://vacatia.com/sell-my-timeshare seems like they charge less fees but Im not certain. I do know the aggregator sites pick up their listings which is a huge help.

 

[Cyberc1978]

If they bought direct recently they will take a loss, there is no way around it.
You can see current selling prices in the ROFR thread.
Selling via Facebook put a lot of extra risk on you and you would need to know and be responsible for the process.

Use an experienced broker.

What resort did they buy? They will probably lose $50-$100 per point. It is a buyers market and no one buying resale will pay close to the direct price when there are many options out there. Sorry for the bad news.

That's solid advice for someone new to timeshares but as long as you use a contract and a reputable closing company that keeps the funds in escrow until the deed is recorded (and can also help with the contract) then there really should be no risk and the seller can save the 8%-10% commission.

We started with Westin/Marriott timeshares and bought mostly resale without brokers. Since DVC transactions tend to happen primarily via brokers, we bought DVC via brokers. But if I were to sell one of our DVC contracts, I'd definitely first try on my own. I wouldn't do it on Facebook - the level of scamming (and fear of scamming) on those groups is too much. Unlike a home, that requires inspections and the one nextdoor may be completely different, selling a timeshare contract/deed is a relatively simple process.

How long ago is ‘just’? Florida has a buyers remorse law that would allow them to get out of it if it’s under 10 days. Might be worth reaching back out to DVC direct depending on the circumstances.

I would avoid FB as an option to sell as it could end up sideways fast.

Just my 2 cents.

I wouldn't buy or sell anything through Facebook. Too many scam artists.

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.

 

[DVCanadian]

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.

I’d recommend against Facebook based on these assumptions

The person who wants to sell is new to DVC and maybe not capable of selling it themselves. While fairly straightforward for an experienced timeshare person, if all you have ever done is buy direct from Disney you probably aren’t ready to sell it yourself to save the commission.

If the seller thinks they can get an offer close to what they paid Disney on Facebook they are seeking a deal that’s not out there, making them easier to take advantage of. Especially if they are desperate.

Facebook may be a place to find a buyer and then go through the process together, I’ve rented on Facebook without issue but see regular reports of people that got scammed. Selling a DVC contract is potentially a larger dollar transaction, attracting more sharks.

There is a whole legitimate broker system set up to help people that need to sell, I’d use that.

 

[DVCanadian]

I bought a whole house through Facebook. Used a title contract and a lawyer for a contract. No problems. I think I am more surprised people don’t sell DVC themselves online; with a good contract and title company your chance of being scammed is very low. Like…I can’t even determine how a buyer would scam a seller in this situation.

I think there is a low risk of losing the DVC contract via a scam but a not insignificant risk of wasting your time with non serious tire kickers and or people who see it as a way to get your personal info for identity theft etc.

It will depend how desperate the seller is and how experienced they are with contracts, selling processes etc.

inexperienced and desperate and Facebook? Not good.

Yes, a person can do it and be successful, can this specific person in their specific situation?

 

[Starport Seven-Five]

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.

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.