Selling questions?

[DCLBACH]

If I were to sell my one and only contract with the intention of re-purchasing a different resort what would happen with my DVC membership in the meantime. I need to sell my existing contract first to fund the next purchase. What are brokers charging these days?

 

[disneynutz]

Your membership would be cancelled and you would start over with a new member number.

Many brokers charge 10% but some charge less.

Bill

 

[DCLBACH]

Your membership would be cancelled and you would start over with a new member number.

Many brokers charge 10% but some charge less.

Bill

Guess I should try to buy and sell somewhat simultaneously. Just make sure my closing on the timeshare being sold is after I close on my purchase. Probably easier said than done. Might have to use a line of credit for a bit

 

[BillPA]

Guess I should try to buy and sell somewhat simultaneously. Just make sure my closing on the timeshare being sold is after I close on my purchase. Probably easier said than done. Might have to use a line of credit for a bit

I think you have this in the wrong order. If you need the $$$ from the sale to purchase a new contract, you will need to close on the sale first.

 

[rlovew]

Unless there is something about your DVC member number that you are particularly in love with- it shouldn't make a difference if you get a new membership with a new number. If you bought retail before and are changing to resale then you would still be considered a resale buyer for point use purposes even if you kept the original number. You would need to not only close on the property you are buying first but Disney would have to process it first and unless you have a month or so between closings there is no way to actually guarantee that happening.

 

[Dean]

If I were to sell my one and only contract with the intention of re-purchasing a different resort what would happen with my DVC membership in the meantime. I need to sell my existing contract first to fund the next purchase. What are brokers charging these days?

I know this is a little late since I missed this first time through. I know there are non financial issues that are personal. However, just realize the cost associated. Assuming around the same size contract, this move will cost you somewhere around 10-15% of the total of the sale as wasted money plus or minus the difference in the home resort which is often more in this situation, money you could put toward additional points. Often doing an add on is the better choice but it depends. If you're moving up or down in total points or moving down in home resort from a cost standpoint, that can offset. Also, the dues difference long term can be an issue.

Specific example to illustrate and using rough easy math. Owning SSR 300 and wanting 300 VGF. Say we sold and bought VGF, total difference what $2500 closing/commission, $18K more for VGF with higher dues going forward yearly maybe $3000 vs $3600 yearly. Compare that to adding 100 VGF and having 400 total. Maybe $18K and still around $3600 yearly fees. So for roughly the same cost or actually less you've got VGF part of the time and 100 more points plus it's possible those current points have more options than new resale ones would.

Obviously there are variables. Usually it's only a good choice when selling a small contract moving up, selling a high demand option moving down, dumping a high maint fee or when you can (AND WIILL) take advantage of specialty options like BWV standard or AKV value. Even then you've got to consider what the other alternatives are. For example with AKV, owning SSR and reserving standard view at AKV is around the same cost as owning AKV for value used 2/3 of the time. It's usually a very expensive move for the convenience of the 11 month window and that's true even for items you can't consistently get at the 7 month window, it's still an expensive luxury to do so.