Selling DVC

[Swan]

I am trying to get out of debt in four years. To do this I should sell my DVC.
I have a few questions and if anyone has the time to answer them I will be greatful.

1.Should I go through someone who specializes in DVC?
2.Does everyone charge 10% commision?
3. How long does it usually take to sell?

Thanks,
Gail

 

[FreeTime]

I don't know the answer to your questions, but just wanted to say good for you! I keep telling my DH that we could sell all of our points and pay everything off but our house. He says, let's just stick with paying everything off slowly and still go on vacation. I try to explain that if everything is paid off we will be able to go on vacation without a care in the world and could even re-buy DVC with cash in the future. I am excited that you are taking this step! Good luck!

 

[Sandisw]

If you are planning to sell, IMO, then yes, I would use a broker who specializes with DVC.

I use the board sponsor, TSS, to sell a 50 point contract. Because it was small, I had an offer within 24 hours so it sold quickly.

I paid 10% commission and I think that most are around that amount.

Good luck!

 

[JimMIA]

1.Should I go through someone who specializes in DVC?

YES. The difference between those who know what they are doing and those who don't is laughable -- but not if you are either the seller or buyer. I'd personally use The Timeshare Store (we bought through them), but there are at least two others who I've heard good comments about.

2.Does everyone charge 10% commision?

I think the normal range is 10-12%. However, watch out for "administrative fees." There is at least one broker who charges a pretty large fee for nothing.

3. How long does it usually take to sell?

I think that depends on a lot of factors. Small contracts sell quicker than large contracts, "loaded" contracts with full points + some banked points should sell faster, etc, etc. I think the marketing reach of a company like TTS should make the contract sell faster.

Good luck!

 

[backyardponder]

How long it takes to sell is directly related to your price. If you put a low price on it, it will sell fast. If you put a high price on it, it will probably never sell. Talk to your broker and work with him or her to review current prices which have sold.

By the way, I highly recommend TSS, the sponsor of these boards.

 

[bookwormde]

I see your banner is BC, unless you have a large contract >200 points, if the contract has all of its points and you set a price in the lower 80s it will likely sell quickly. The experianced brokers can give you detailed information on yor specific situation.

bookwormde

 

[DVC Grandpa]

Can you list your contract with multiple brokers?

 

[jkester]

We sold 2 separate contracts that we had (a 50 point and a 230 point) through the Timeshare Store in January 2006. We loved DVC, but decided to buy a home in Kissimmee to go to Florida more often so we sold.

They made this very easy for us. The 50 points had an offer within 2 days and the 230 points sold in about 1 month. Disney bought back the 50 points as they have the ROFR. They did not buy the 230.

We owned at OKW.

It does help if you have all of your points for the present year available. If you have borrowed and they are not available for a year then the Timeshare Store will probably advise you what to do.

I do think the TSS specializes in DVC and they can do a super job for you.

Good luck to you.

Rhonda Kester

 

[Sandisw]

Can you list your contract with multiple brokers?

Yes, you can. However, when I looked into it, the contracts stated that you would still owe the commission if they brought you a buyer for full asking price before you contacted them to pull it off the market.

While I think the chances of getting an offer from both brokers at the exact same time is slim, I decided it wasn't worth it. I was selling a small 50 point contract at VWL and figured it would sell quickly.

 

[Jason@dvcstore]

I am trying to get out of debt in four years. To do this I should sell my DVC.
I have a few questions and if anyone has the time to answer them I will be greatful.

1.Should I go through someone who specializes in DVC?
2.Does everyone charge 10% commision?
3. How long does it usually take to sell?

Thanks,
Gail

1) I would recommend that you go through someone that specializes in DVC. The more buyers they have interested in your property the better. For example, at The Timeshare Store, Inc.® when your property is listed an email is sent out to 11,000 people who have contacted us about DVC.
2) The Timeshare Store, Inc.® currently charges a 10% commission.
3) If you price your property correctly and have not borrowed any of your 2010 points it should sell within a 2 to 6 week period.

Jason at The Timeshare Store, Inc.®

 

[letitsnow]

I am trying to get out of debt in four years. To do this I should sell my DVC.
I have a few questions and if anyone has the time to answer them I will be greatful.

1.Should I go through someone who specializes in DVC?
2.Does everyone charge 10% commision?
3. How long does it usually take to sell?

Thanks,
Gail

how much are you selling it for?

 

[Jason@dvcstore]

how much are you selling it for?

I am not 100% sure but I think that would be a violation of the Disboards. That might suggest he was making a "FOR SALE" post and I don't believe those are allowed.

Jason

 

[JimC]

That is correct. "For Sale" posts are not permitted. However the OPs questions are educational and are appropriate.

We used The Timeshare Store both to purchase and sell (twice each). They are experienced, knowledgeable and honest. We will use them again.

While you could do it on your own. Most of us benefit from their guidance and their serving as an intermediary to conduct negotiations. It is also worthwhile to use a closing service to ensure proper handling of paperwork and to have an escrow for funds.

 

[bongo59]

I am trying to get out of debt in four years. To do this I should sell my DVC.
I have a few questions and if anyone has the time to answer them I will be greatful.

1.Should I go through someone who specializes in DVC?
2.Does everyone charge 10% commision?
3. How long does it usually take to sell?

Thanks,
Gail

tell me what you have and I may be interested. I have about 7 contracts but we are looking for more.

 

[justloveit]

We also used tss for selling small contracts recently and it was very easy. They were very professional and we would definitely use them for any other transactions.

 

[RAC]

Another Vote for TSS...

 

[SFD998]

Since, we are on the subject of selling does anyone know if contracts must be sold as a whole or if they can be broken down and sold into smaller blocks? For example 1 of my contracts is for 230 points. Do I have to sell it as such or can I sell 100 of those points and keep the other 130?

 

[chalee94]

Since, we are on the subject of selling does anyone know if contracts must be sold as a whole or if they can be broken down and sold into smaller blocks? For example 1 of my contracts is for 230 points. Do I have to sell it as such or can I sell 100 of those points and keep the other 130?

you may not break down a contract yourself, no. if you have a 230 pt contract, you can keep 230 or sell 230 but that's it.

that's why many people prefer to break down their purchases when they buy in, and get a 160 pt contract plus a 70 pt contract instead of one 230 pt contract...so if they decide to sell later, they can downsize without having to completely get out. (smaller contracts are also easier to sell.)

if DVC ROFRs that 230 pt contract, they have the right to break it down and resell it as a 30 pt add-on, a 100 pt add-on and two 50 pt add-ons...or whatever...

 

[MAGICX2]

1) I would recommend that you go through someone that specializes in DVC. The more buyers they have interested in your property the better. For example, at The Timeshare Store, Inc.® when your property is listed an email is sent out to 11,000 people who have contacted us about DVC.
2) The Timeshare Store, Inc.® currently charges a 10% commission.
3) If you price your property correctly and have not borrowed any of your 2010 points it should sell within a 2 to 6 week period.

Jason at The Timeshare Store, Inc.®

Really? When I listed my SSR contract with TSS I was told that I probably would not be able to sell my contract at the price I requested (which was not $69, but wasn't $80 either.) I have all my 2010 points and more than half of my 2009 points left. I was told that they would make an "exception" and list it, but that it probably would not sell unless I lowered the price. The broker stated that given the current listing prices, mine was a dollar or two higher than what they recommended and it would confuse the potential buyer. As to why, the broker said that the buyers could not understand why one would be listed at $69 dollars and another listed at $76 dollars.

If the brokers continue to persuade owners to list their contracts at such bottom dollar prices doesn't this just drop the over all dollar value of the DVC contracts? A few years ago you couldn't find a resale contract under $80. What happened? The brokers have convinced people that the current economy and the number of resale contracts available have caused the decline in the purchase price. While this may be part of the reason, I believe the brokers have contributed to the decline in prices as well. If everyone listed their resales at the same or close to the same level, would the resale buyers not still buy? (Taking into consideration # of pints available, fees due, etc.) Of course they would! Lets face it, if someone is truely interested in buying DVC resale, they are going to make that purchase whether the average price is $79 or $69. All that is happening is that the brokers are dropping the value of these memberships. $79 is still a substantial savings over $112!

 

[JimC]

Really? When I listed my SSR contract with TSS I was told that I probably would not be able to sell my contract at the price I requested (which was not $69, but wasn't $80 either.) I have all my 2010 points and more than half of my 2009 points left. I was told that they would make an "exception" and list it, but that it probably would not sell unless I lowered the price. The broker stated that given the current listing prices, mine was a dollar or two higher than what they recommended and it would confuse the potential buyer. As to why, the broker said that the buyers could not understand why one would be listed at $69 dollars and another listed at $76 dollars.

If the brokers continue to persuade owners to list their contracts at such bottom dollar prices doesn't this just drop the over all dollar value of the DVC contracts? A few years ago you couldn't find a resale contract under $80. What happened? The brokers have convinced people that the current economy and the number of resale contracts available have caused the decline in the purchase price. While this may be part of the reason, I believe the brokers have contributed to the decline in prices as well. If everyone listed their resales at the same or close to the same level, would the resale buyers not still buy? (Taking into consideration # of pints available, fees due, etc.) Of course they would! Lets face it, if someone is truely interested in buying DVC resale, they are going to make that purchase whether the average price is $79 or $69. All that is happening is that the brokers are dropping the value of these memberships. $79 is still a substantial savings over $112!

Just did a quick review of prices on the contracts listed at the Timeshare Store and the noted prices from $58 to $109. Even within the same resort there was a variety of prices.

Many considerations go into pricing -- but I suspect primary factors include Disney's use of ROFR, contract term, contract points (size), point status, seller's need to sell or sell quickly, resort desirability, contract dues, availability and terms of financing and general economic conditions.

DVC has enjoyed a history of resale pricing that is contrary to the timeshare industry. Resale prices at Marriott, which is a comparable timeshare program IMO, are 40% to 60% of retail. Many other timeshares are much less. I believe DVC enjoyed such a remarkable resale market partly due to its brand, its premium locations (most DVC resorts being on property) and Disney's aggressive use of ROFR.