Selling DVC, what would you charge.

[yeahdisney]

Three years ago friends and us bought DVC together, 2 different familes, so we could go every other year. Now they wants to sell us their half. At first we both shared the dues. Then 2008 we paid the entire dues and got the disney rewards, then 2009 it was to be their year to pay the entire dues. We plan on giving back what they paid, minus half the closing cost and the dues that were due-that we paid as one lump sum together at the initial investment. Now the resale store (they gave us the name of the place to uses) says it will cost $150 to take her name off and add DH's name.

The questions. 1. Fair to pay them back what they paid in-minus half closing close at time of purchase? 2. What about 2008 dues we paid all? 4. What about 2009 dues-I figured we're buying so we pay the whole new total dues. 5. Who pays new title fees-changing the names? Thanks

 

[disneynutz]

Buying anything with another party can be difficult at best. What ever you decide, make sure that you are both in agreement or you may loose a friend.

 

[Chuck S]

I think giving them 1/2 the purchase price is fair. Did they use the membership at all? If so, I would not refund all the dues they paid, or if I did refund all the dues, I would ask them to pay the refiling fees, since they are the party defaulting upon the agreement. I would pay all the 2009 dues, as they will be your points.

 

[yeahdisney]

I think the initial closing fee and dues then due was $665 so we subtracted half of that amount off of the pay back.
2008 we paid all dues. They should of paid half.
2009 not paid yet
$150 due to retitle now

 

[Chuck S]

Since they used it, and they owe you for 1/2 of 2008 dues...if you want to salvage the friendhip you might say "Well, you owe 1/2 the 2008 dues, but we'll let that slide if you pay all the title change fees.

Don't forget, this needs to be submitted to Disney for ROFR. I also assume there is no loan due, otherwise that will complicate matters legally. If no loan is due, since some of the original owners are still to be on the deed, they will likely simply waive ROFR.

 

[DebbieB]

Which years did you go? Did you go together all times?

 

[CarolAnnC]

Three years ago friends and us bought DVC together, 2 different familes, so we could go every other year. Now they wants to sell us their half. At first we both shared the dues. Then 2008 we paid the entire dues and got the disney rewards, then 2009 it was to be their year to pay the entire dues. We plan on giving back what they paid, minus half the closing cost and the dues that were due-that we paid as one lump sum together at the initial investment. Now the resale store (they gave us the name of the place to uses) says it will cost $150 to take her name off and add DH's name.

The questions. 1. Fair to pay them back what they paid in-minus half closing close at time of purchase? 2. What about 2008 dues we paid all? 4. What about 2009 dues-I figured we're buying so we pay the whole new total dues. 5. Who pays new title fees-changing the names? Thanks

Won't this sale still have to pass ROFR with Disney? Now, when it is immediate family involved, they will typically waive the ROFR. Not sure how this works at all with co-owners...yikes.

 

[crisi]

Rasale prices have dropped significantly. I think you are looking at significantly less than half the purchase price if they want to be "fair" - but that is going to depend a lot on how you value the friendship and where everyone's financial circumstances are now.

I'd see what resale contracts are going for. Subtract the 10% commission. Use that as the minimum....and go from there.

 

[yeahdisney]

Yes it does need to pass disney's right of refusal. Thankfully it was a small resale. So we pay them now for their half. The friendship will remain, this won't affect it. Just looking to be fair. Thanks.