Selling DVC without a broker

[ClarabelleCow]

Just to inform all - if you decide for some reason you want to sell, take a look at this website, beside listing for sale, they also have fee listings for "want to buy" "want to trade" timeshares. I know there have been a few threads regarding this, so I thought I would bring it up.TUG - Timeshare Users Group

There are myself and others looking for small add ons, and we all know other than Disney, to buy from a broker really increases the price because of the closing and the commision the broker takes.

 

[calypso*a*go-go]

Actually, buyers do not end up paying more with a brokers involvement. The reason being is that the price is kept at a certain level due to ROFR. The only one that benefits from not having a broker is the seller. For instance, you may find a listing @ OKW for $65/pt and offer $60/pt. Even if the seller accepts, there's no way that's going to get past ROFR.

So, you're best bet for an add-on is to just search all the websites and find the one that's right for you and make an offer whether there's a broker involved or not.

 

[ClarabelleCow]

Sorry - yes the buyer does not end up paying more, but the seller looses more, that was my point, sorry for the confusion. If $65 is agreed upon, and you do it yourself, you get 65 a point, but if you use a broker/agent, you are only getting $58.5 a point (using 10% commission). I received several requests on how I sold my Vistana on my own, and I was passing on the tips.

 

[calypso*a*go-go]

For the most part, people seem to focus on the broker's commission. It's the closing costs that I think are ridiculous. We are being charged $475 on a 150 pt. resale. In the breakdown, almost $200 is going straight to title office as their "closing fee". Gosh, all they did was send me some papers to sign and there were some errors so we have to wait to have them sent again!

 

[jmminarik]

Originally posted by calypso*a*go-go
For the most part, people seem to focus on the broker's commission. It's the closing costs that I think are ridiculous. We are being charged $475 on a 150 pt. resale. In the breakdown, almost $200 is going straight to title office as their "closing fee". Gosh, all they did was send me some papers to sign and there were some errors so we have to wait to have them sent again!

$200 over 38 years is what...$5.25/year for verification there are no outstanding liens on the property you will buy and liability if they happen to miss one? I'd take that insurance cost anyday.

-Joe

 

[ClarabelleCow]

even worse is when you are only buy a 50 point contract, I think lthe lowest commissin I have scene is $350.00!! That's an additional $7 per point! OUCH!!!

 

[Rock'n Robin]

Well I appreciate the tip since I am checking out resale outlets now to sell my points and want to know all my options--as has been said, the brokers take a big bite from the sellers!
Robin M.

 

[calypso*a*go-go]

jmminarik:

I don't have any problem paying for a title search/insurance. That was a separate charge on my closing settlement. No, the $200 was just for "getting signatures". My total costs are $475. I would have used a different service but the seller had already started the process through this particular title office. Oh well, live and learn!

 

[Dean]

It's not like the closing company is just taking your money and doing nothing. They must prepare a deed, send out mailings, ensure all is done, etc. While it's a lot for a small contract, I don't think it's a major rip off either. Most lawyers charge $100 or more just to prepare the deed.

 

[calypso*a*go-go]

Dean --
I don't think it's a total "rip-off" but you have mentioned on many threads that Timeshare Transfers advertises they can do it for $250 (which is what I wish I was paying instead of $475). What irritates me the most is that every piece of correspondence they have sent us contains errors. To me, that's like rubbing salt in the wound... !

 

[jmminarik]

Originally posted by calypso*a*go-go
Dean --
I To me, that's like rubbing salt in the wound... !

Don't forget the lemon juice with that salt. Ooo I hate when that happens.

-joe

 

[JimC]

Part of what you pay for (either commission as seller or closing costs as buyer/seller) is for the convenience of having someone else do the work and often the convenience of not having to find the someone to do it in the first place.

 

[calypso*a*go-go]

Okay, I'll stop complaining now and give ClarabelleCow her thread back !!! Can no one see this is a cry for help -- I just want all this over so I can plan my first trip "home"... Boo, Hoo.