Selling DVC

[suzannews]

DH and I are talking about selling our DVC. My salary is about to change and the payments are not in the budget at the moment. We have an appt with our guide on Monday to talk about it and see whats the next step.


Any suggestions?

 

[DMKEDM]

First, hugs and pixie dust as you adjust to your new reality...may good times return soon.

Depending on how much you paid, and how big your loan balance is, you may find that selling is not your best option, financially...you may do better renting your points (or transferring them)...

Of course, it all depends on your specific numbers...monthly payment plus dues is one number. About $10/point rented is the other number. If the rental number is bigger than the payment + dues number, that's probably the way to go.

We bought our points in 2006-2007, at an average cost of about $90/point (we paid more for our BCV points, less for our SSR points)...those points are selling these days for around $50 (give or take)/point...we didn't finance, so no real idea of what the loan balance would be after 4-5 years...but assume 50%...then add in sales costs (at least commissions and possibly closing costs, depending on what you negotiate w/a buyer)...

It all comes down to your individual math.

GOOD luck and hope you find a way to get back to DVC affordability as soon as possible...

 

[rlovew]

If you have a loan you need to decide if it will be worth it to sell. Omce you pay a broker (although you could try to sell it on your own) and your share of any fees- you may or may not sell it for enough to pay off your loan (in which case you will owe money at closing). It depends on how many poiunts you have, what resort, and such - not that you should list that information here- I believe that would close this post as trying to make a sale- but look at a few of the companies and see what the resort you are selling is going for and also look at the ROFR and see what is passing- can you afford to sell for a price that will work?

 

[DVCconvert]

depending on when you bot it, be prepared to take a serious haircut..and deal with paying off the remaining balance.

 

[castleri]

I"m afraid your guide will not be able to help your much as Disney does not usually buy back contracts. That said he may refer you to one of the resale organizations and as others have said you will have to decide which is better for you - rent/transfer out your points (reservations) and use the money to pay your mfs and monthly payment or sell and possibly take a loss. Good luck and hope that things will improve soon.

 

[mikron]

Put points up with the timeshare store, if you get an offer Disney thinks is low they will most likley buy them,

 

[a742246]

If you decide to go with the rental route. I would suggest you try to rent the points thru ebay you may get $13.00 a point.

 

[howardlee2]

when did you buy and what % did you finance?? between the current economy and the decrease in what DVC is selling for over the last 1-2 years you may not get back enough to settle your loan. for renting figure on 10-11/point. this can be a hassle and time consuming. if you can get enough back from renting to cover your loan payments and the assessments you may want to ride this out until the economy recovers or you can get a better paying job. take a long look at what contracts are selling at currently and remember there are pretty hefty commissions to pay which will cut your real take from the sale.

 

[pinnocchiosdad]

If you decide to go with the rental route. I would suggest you try to rent the points thru ebay you may get $13.00 a point.

I have rented my points many times to many people, I think $13 per point is way out of line (no offense). Expect closer to $8.00 per point. I would also recommend the Timeshare store to list your contract. They sold 2 contracts for me in three days. But the commission is steep, about 10%. That realy hurt, but all the DVC resale companies charge about the same. Good luck in your decission. Its a tough one. Just think, hopefuly you will be back on your feet in a few years and you can buy your points back for way lower than you sold them $$$$$, or they may be selling DVC GF by then!!!

 

[dzorn]

DH and I are talking about selling our DVC. My salary is about to change and the payments are not in the budget at the moment. We have an appt with our guide on Monday to talk about it and see whats the next step.


Any suggestions?

Why would you have an appointment with your sales guide? They are there to sell you points.

If you have a loan I would look at the balance and see how much you would lose on the sale to see if it worth keeping and renting out till your situation improves.

Denise in MI

 

[maburke]

I have rented my points many times to many people, I think $13 per point is way out of line (no offense). Expect closer to $8.00 per point.

The truth is somewhere in between. If you have points you can rent now at a desirable resort 11 months out, you can get $11-$12. If they are banked and expire in a few months, you might get $9.

 

[chunkygal]

Let us know what the guide says.

I hope it works out for you.

 

[zhonggu54]

If you decide to go with the rental route. I would suggest you try to rent the points thru ebay you may get $13.00 a point.

Not bad idea, I think you can try it.