So Frustrated with Seller

[Figment's Girl]

In May, my husband and I put an offer in on a 100 point contract at CCV. Everything went through great with DVC Store, they are outstanding. When we would have closed in July, they reached out on behalf of the seller because the seller had taken a loan for the DVC and needed to come up with the money between what they owed and what we were paying and needed more time. We were okay with it, understanding how Covid has affected people, etc. We told DVC Store we would give them until the end of August (They were hoping until the beginning of August so this was more time). Again, Jaime at the DVC store was outstanding.

They set everything up for us to close on Monday the 31st. Jaime reached out to us yesterday to let us know while they are still planning on doing the closing, they have not been able to reach the seller lately and while that might not be an issue, they could still reach them, she wanted to let me know. I am so frustrated by this!

If we have to cancel the sell, we have to start at the beginning again and right now, DVC store doesn't have any appealing contracts for us. but that means switching, etc. and I would like Jaime to get some commission for her hard work, I know she gets a salary but still.

Sorry, just had to vent.

EDited our resale company

 

[sethschroeder]

Jaime to get some commission for her hard work

So the seller would owe them the commission regardless if they cancel. So don't worry I would assume Jaime gets something even if the contract is cancelled because the company gets paid.

Just another word of caution to those taking out a loan on DVC.

 

[Meglen]

So the seller would owe them the commission regardless if they cancel. So don't worry I would assume Jaime gets something even if the contract is cancelled because the company gets paid.

Was about to say this. Do what you need to do.

 

[Figment's Girl]

Thank you, that does make me feel better about that part at least.

 

[Sandisw]

I had to edit the post because there was a business name without link and didn’t want to delete the entire thing, I did leave the DVC store because I know it’s not in the filter

I am so sorry for you going through this.

 

[Figment's Girl]

I had to edit the post because there was a business name without link and didn’t want to delete the entire thing, I did leave the DVC store because I know it’s not in the filter

I am so sorry for you going through this.

Thank you for that, I hadn't even thought of it when posting.

 

[Wedgeout]

In May, my husband and I put an offer in on a 100 point contract at CCV. Everything went through great with DVC Store, they are outstanding. When we would have closed in July, they reached out on behalf of the seller because the seller had taken a loan for the DVC and needed to come up with the money between what they owed and what we were paying and needed more time. We were okay with it, understanding how Covid has affected people, etc. We told DVC Store we would give them until the end of August (They were hoping until the beginning of August so this was more time). Again, Jaime at the DVC store was outstanding.

They set everything up for us to close on Monday the 31st. Jaime reached out to us yesterday to let us know while they are still planning on doing the closing, they have not been able to reach the seller lately and while that might not be an issue, they could still reach them, she wanted to let me know. I am so frustrated by this!

If we have to cancel the sell, we have to start at the beginning again and right now, DVC store doesn't have any appealing contracts for us. but that means switching, etc. and I would like Jaime to get some commission for her hard work, I know she gets a salary but still.

Sorry, just had to vent.

EDited our resale company

I admire your patience. Too bad this seller wasn’t prepared for this before even putting it on the market and surely knew what they still owed when accepting the offer. I’m sure Jaime has your best interest at heart and will guide you through your decisions. Hope you have a positive outcome.

 

[DebbieB]

So the seller would owe them the commission regardless if they cancel. So don't worry I would assume Jaime gets something even if the contract is cancelled because the company gets paid.

Just another word of caution to those taking out a loan on DVC.

That might be like getting blood from a stone.

 

[sethschroeder]

That might be like getting blood from a stone.

Send them to collections is likely the action which would occur next.

 

[davidl81]

Yeah that does suck, but by the same token I would assume that this seller is having a lot of other issues financially right now. It's one of the risk of buying resale is that these types of things can happen, and honestly if prices drop on resale like some people here think may this will become a more prevalent issue. Most people who are selling during a down turn are selling to get out of a monthly payment. Many of them will be upside down or have past due fees etc.

 

[Deb & Bill]

Realizing that you don't gain enough to pay off the contract so you can sell it has been happening since DVC was open for business. The seller often forgets they owe the resale company their fee for handling the sale. So they have to come up with cash to be free of something that they found out they couldn't afford or didn't really want.

 

[Dean]

It's almost a certainty that they will not see the commission if there is no closing and I doubt they pursue it, basically throwing good money after bad. If the closing date has come and gone and there was no formal agreement to extend, there really isn't a contract anyway.

 

[poofyo101]

I just closed on a contract yesterday that passed ROFR in Late Feb this year. 6 months later finally closed. Frustrating for sure but so relieved its over. Really sucks when sellers do not do what they are suppose to do in a timely manner.

 

[sethschroeder]

It's almost a certainty that they will not see the commission if there is no closing and I doubt they pursue it, basically throwing good money after bad. If the closing date has come and gone and there was no formal agreement to extend, there really isn't a contract anyway.

No reason not persue it and throw it through collections. Certain companies work on commission especially in a open shut case like this of seller defaulting on contract. Have to think it happens a couple times a year at least at larger resellers.

If not maybe I need to contact all these dvc resellers to take over these defaulted contract.

 

[Dean]

No reason not persue it and throw it through collections. Certain companies work on commission especially in a open shut case like this of seller defaulting on contract. Have to think it happens a couple times a year at least at larger resellers.

If not maybe I need to contact all these dvc resellers to take over these defaulted contract.

Sounds like you have a new sideline business.

 

[Figment's Girl]

No surprise to anyone, we did not close yesterday. They could not reach the seller.

 

[RoseGold]

Yeah that does suck, but by the same token I would assume that this seller is having a lot of other issues financially right now. It's one of the risk of buying resale is that these types of things can happen

Could be a nasty divorce/estate/ownership/bankruptcy dispute with a pile of lawyers now involved, anything is possible.

The only reason we don't hear about this more is because anyone who bought more than a few years ago should be roughly breaking even on the sale. At least OP can get back out there on the market now!

 

[Disneygal22]

That's awful! so glad we passed ROFL

 

[Figment's Girl]

That's awful! so glad we passed ROFL

We did too. Now we have to start over.