Selling my BCV

[RayJay]

Yep, you guessed it, I'm probrably the first, question is how much should I ask considering they are still selling and for that matter can I even sell it before BCV is sold out?

I have 210 pts with Feb use year, going to bank 140 forward after I cancell my Oct trip. So what would be a fair asking price considering the current incentives.

Thanks
Ray

 

[Dean]

Sorry to hear that. Personally, I'd think anything over $65 per point plus closing and no maint fees would be unworkable from a buyers perspective. Since you haven't closed yet, could you still back out of the current deal?

 

[luckytso]

I am sorry to hear that you have to sell.

If I were you, I would list it on the TUG board. This way, there would be no commission charges (I think The Timeshare Store charges 12% commission).

I personally would ask for $70/point since you still have all the points and Disney is charging $80 (even with the Magic Beginning, it would still be $75 per point). However, maybe you can offer to pay a portion of the closing cost and the maintenance fees charged for 2002.

I don't think the maintenance fee would be a lot though for 2002. From what my guide told me, I am expecting to pay around half of the annual dues since BCV is not open until July 1.

Best of luck!!

 

[RayJay]

Lucky

Thanks for that info, just got off the phone with timeshare store and found out 12% commission, I'm thinking no way there's got to be a better way. Where's the TUG Board?


Ray

 

[Firefighter Mickey]

www.tug2.net

When you join, you get a free advert.

 

[Terry S]

Dean, a good amount of the BCV purchases have closed. My first purchase which was in February closed on May 29th. My add-on which was in April closed the first week of June.

 

[RayJay]

Terry

Yes, I believe I'm also closed, just got my cards the other day with a note the deed was recorded, then we made the decision to sell.

I'm crazy!!!!!

RayJay

 

[Terry S]

RayJay, If the deed has been recorded, you did close.

Crazy??? Don't know about that? Natuarally, I don't know the reason behind your decision so I can't really call you crazy. If you are unhappy with your DVC, I am sorry to hear about that. If this it is a financial reason, I am sorry about that also. Hopefully, things will work out for you one way or the other. I hope that you got in at the $70 price so that you won't lose too much. I imagine there would be someone out there willing to pay $65 -$70 plus closing instead of the current $80. I wish I could help you out but I am maxed out right now at 800 points.

Good Luck, let us know what you eventually decide to sell for and I will keep my eyes open for anyone looking.

 

[fkj2]

Is there any chance that you could keep the points and just try and rent them? That's such a high demand location.

 

[Richyams]

Renting them may cover the mortgage. Then a couple three years from now you might feel real smart buying under $110 per point. Imagine how smart I feel buying back in '92...

 

[RayJay]

Yes to all, great suggestions and actually we started talking about the renting idea and still hold onto it. Now I'm up in the air again.

I think we will give some more thought. I don't like 12% commission at all.

Have a great weekend.

PS: Terry thanks anyway.

RayJay

 

[SamSam]

Rayjay, I hope that renting for at least a couple of years would help offset your expenditure's so you could at least break even. I'm sure there are people who would be ready to buy, but having to pay closing costs on a resale changes the equation. If you could rent for a couple of years and then do a resale, at least you might come out even.

 

[chris1gill]

Just curious, was it something we said here on the DIS to make you change your mind? I'd feel bad if it was....

If it is a financial reason, I'd go right ahead & rent the points for a few years, or, as suggested above, advertise on TUG & contact the closing company yourself (what is it Tamac or something?)

 

[Carl]

I'm curious, too. If it is financial reasons, then it is none of our business. And of course, if that is the case, you may not be able to afford to do as people have suggested and rent out points, because you will still be out either the major cash outlay you paid or the payments on the loan.
But, I'm curious as to whether you have decided to sell based on the same experience that I had when I purchased - UNAVAILABILITY. I seriously considered selling mine when I found that I could NOT get a booking for the first of December, and then started reading on here that I might also have problems getting a booking for Novembers unless I called 11 months out - and even some doubts then. I decided to wait it out for at least one year and see how things really turn out. This year I exchanged points for a nonDVC resort and paid dearly for doing so. I would NOT want to have to do that every year just to get to go at the times I want, especially since I will, and would not get to stay in the actual BWV, as I was planning on when making the purchase of the resale.

 

[ripleysmom]

You might want to give some thought to posting BCV for sale at a site like Timeshare Users Group. You can then sell it without paying a commission.

 

[RayJay]

SamSam, thanks for the suggesstions.

Chris and Carl

No, it wasn't anything to do with the boards, in fact the boards have been the best info source I ever found on DVC.

Even though people will often say it's not their business when talking finances I have no problem telling everyone my reason.

I'm in debt reduction mode.

I'm still tring to decide if I'll sell or rent, if anything these boards will make me want to keep it.

Have a great weekend.
RayJay

 

[Maistre Gracey]

RayJay, another vote for keeping and renting your points.
I would continue to rent all or a portion of your points until you are in the situation that you want to be. Then, you can enjoy your points, have some of the cost paid off (at little cost to you), and you avoided future rate increases. It's kind of the best of all worlds.
Good luck with your decision

 

[AnnK]

I would also agree with renting them out. If you look at the rent or trade board DVC owners don't seem to have any problem renting their points for 10.00 per point, many others rent elsewhere and get more per point. You could have the benefit of still owning after others have paid your costs.

 

[EROS]

Unless you have an immediate need for the capital, I too think that you'd be better off renting the points. You should be able to at least "break even" without too much difficulty. Even if you use TUG and your own attorney, you're still going to take a fairly stiff financial hit.

Best of Luck,

 

[manning]

If you are in a reduction mode. make a list of what you want or need to dispose of and put this one at the bottom. By the time you get to it, you may not have to get rid of it. Go to the rental board and see how well points are renting there. You may be able to swing it. Good luck.