Talk to me about selling...

[ClaraOswald]

We literally just purchased a small contract last month. BUT...there's a chance we might want to ditch it at some point, in favor of a larger contract. I know this is probably a dumb idea and we'll lose money so I'm not really sure if we'd actually consider it or not. But I want to get some info, just in case.

When selling a contract, how much can one expect to pay in fees? And what are the fees for exactly? Does it vary based on contract size? Do the fees vary widely per broker?

Any info/help would be appreciated. Thanks!

 

[bama314]

We literally just purchased a small contract last month. BUT...there's a chance we might want to ditch it at some point, in favor of a larger contract. I know this is probably a dumb idea and we'll lose money so I'm not really sure if we'd actually consider it or not. But I want to get some info, just in case.

When selling a contract, how much can one expect to pay in fees? And what are the fees for exactly? Does it vary based on contract size? Do the fees vary widely per broker?

Any info/help would be appreciated. Thanks!

For example, DVC Resale Market charges about 9% of the contract selling price as their fee that the seller will pay. The buyer typically pays other fees, like closing costs. They have a tool to estimate your contract value on their website:
https://www.dvcresalemarket.com/selling/what-is-my-dvc-contract-worth/

 

[jcolvin5]

Yes, the closing costs are directly linked to the total point number in the contract. If you track similar point totals on a resale aggregate site, for a specific resort, each resale company should have the closing costs clearly stated.

In my, limited, resale experience (3 contracts) www.magicvacationtitle.com has the highest closing costs that I have seen. I've yet to see an outlier although maybe someone else has experienced it.

This may help you in deciding what number to list at.
https://www.dvcresalemarket.com/selling/what-is-my-dvc-contract-worth/

 

[ClaraOswald]

Anyone know what kind of commission various brokers charge?

I see the one listed above says 9.5%

www.****************.com says 8.5% in their FAQ section.

Not sure about others.

 

[Disdreaming479]

I just want to say that contracts that have matching resorts and UY really do work like one contract when you are booking. Just in case the math doesn’t work well for selling.

 

[jcolvin5]

Anyone know what kind of commission various brokers charge?

I see the one listed above says 9.5%

www.****************.com says 8.5% in their FAQ section.

Not sure about others.

I believe you would need to search the title companies specifically for closing costs as they are the recipient of those funds.

 

[jcolvin5]

Anyone know what kind of commission various brokers charge?

I see the one listed above says 9.5%

www.****************.com says 8.5% in their FAQ section.

Not sure about others.

Approximate Closing Costs for a DVC Resale Purchase​

The closing costs for a DVC resale will vary depending on the dollar amount of purchase and the state in which the property is located. These costs will include title search, title insurance, administrative fees and recording fees (deed and any other pertinent documents). The closing costs are paid to the title company or attorney at closing. If you are financing your purchase, additional closing costs for the loan typically range from $300-$450.

Reference...Vacation Club Life site

 

[Ruttangel]

You can get 7.5% commission at other sites, but have a look to see what listing price they would recommend
There’s also Estoppel Fee of $150 that seller pays

 

[thanxfornoticin]

I just want to say that contracts that have matching resorts and UY really do work like one contract when you are booking. Just in case the math doesn’t work well for selling.

This is what I was thinking - perhaps buying a second contract for the same resort and same UY would be more cost-effective than going through the additional costs of selling right now. You'd still have the number of points you want, but in 2 chunks that work as a single pool of points.

 

[Sandisw]

Each broker does their own thing in terms of rates, but the comission and the estoppel fee are usually it for the selling piece...dues, closing costs beyond that are negotiated.

But, I did once sell and buy with a broker and because of that, they did take off a small % of the commission for me. I bought way more than I sold so that might have had something to do with it, but every little bit helped!

 

[jcolvin5]

I believe you would need to search the title companies specifically for closing costs as they are the recipient of those funds.

Sorry, I'm answering closing costs, not commission. MY BAD~!

 

[ClaraOswald]

I just want to say that contracts that have matching resorts and UY really do work like one contract when you are booking. Just in case the math doesn’t work well for selling.

Yeah...that is the plan. We basically want 150 points, total. We only have 50 right now. We definitely want the same use year and we just haven't seen any 100pt ones yet. But there is currently a decent 150 out there. I know I'm just being impatient. Ha!

Of course, now we're questioning our decisions completely and we're kind of all over the place. We stayed at BRV in January and fell in love with it, which is why we went with that for our 50 pointer. And honestly, we could probably make just 50 work for a while, staying in studios. But we keep thinking we'll want to jump up to 1-bedrooms sooner, rather than later.

When I was posting here trying to figure out that first BRV purchase, a lot of people said we should consider CCV instead and then we could just switch to BRV at the 7-month mark. But at that time, I was really looking mainly at studios so I knew getting into a BRV studio at 7-months was more risky that I would prefer. That was why we decided sticking with BRV for our contract would be the best choice.

But now....if we're looking at doing 1-bedrooms....maybe a CCV should be back on the table? Because it looks like 1-bedrooms at BRV at the 7-month mark might be fairly easy to get? And so we could still stay at BRV, our preferred section of WL. But then we'd essentially get an additional 20+ years on the contract that we would then use at CCV after 2042. (Or we could sell CCV in the future an likely see some of our money back.)

I just don't know what the best choice is.

 

[Disdreaming479]

Yeah...that is the plan. We basically want 150 points, total. We only have 50 right now. We definitely want the same use year and we just haven't seen any 100pt ones yet. But there is currently a decent 150 out there. I know I'm just being impatient. Ha!

Of course, now we're questioning our decisions completely and we're kind of all over the place. We stayed at BRV in January and fell in love with it, which is why we went with that for our 50 pointer. And honestly, we could probably make just 50 work for a while, staying in studios. But we keep thinking we'll want to jump up to 1-bedrooms sooner, rather than later.

When I was posting here trying to figure out that first BRV purchase, a lot of people said we should consider CCV instead and then we could just switch to BRV at the 7-month mark. But at that time, I was really looking mainly at studios so I knew getting into a BRV studio at 7-months was more risky that I would prefer. That was why we decided sticking with BRV for our contract would be the best choice.

But now....if we're looking at doing 1-bedrooms....maybe a CCV should be back on the table? Because it looks like 1-bedrooms at BRV at the 7-month mark might be fairly easy to get? And so we could still stay at BRV, our preferred section of WL. But then we'd essentially get an additional 20+ years on the contract that we would then use at CCV after 2042. (Or we could sell CCV in the future an likely see some of our money back.)

I just don't know what the best choice is.

It seams as though the math is less important to you than where you want to stay. Have you watched recent YouTube videos of 1 bdrm or studio rooms at CCV? Will you have enough points for a 1 bdrm at CCV with how many points you plan to buy? How long until CCv gets murphy beds? These two questions would matter more for me than the contract length if you plan to buy where you want to stay. I wouldn’t consider booking rooms where my kids are on a pull out couch. Now or ever.

 

[jo-jo]

It costs more than I thought to sell. Someone a few months, suggested that I sell SSR and buy resale at BLT (which I would love) cause prices were good at the moment.

 

[ClaraOswald]

It seams as though the math is less important to you than where you want to stay. Have you watched recent YouTube videos of 1 bdrm or studio rooms at CCV? Will you have enough points for a 1 bdrm at CCV with how many points you plan to buy? How long until CCv gets murphy beds? These two questions would matter more for me than the contract length if you plan to buy where you want to stay. I wouldn’t consider booking rooms where my kids are on a pull out couch. Now or ever.

I haven't watched videos, I don't think. I've looked at pics though. With 150 points, total, no matter where we stay, we'd need to borrow for a 1-bedroom. We don't plan to go every single year though. On average, we're thinking every other year. But sometimes we might do back to back years and other times we might skip 2 years in a row.

We would likely just use current UY (or expiring) points to book a CCV studio at 11-months. Then at the 7-month mark, borrow what we need to stay in a BRV 1-bedroom, if available. If not, then we'll just leave those points and use/bank in the future.

I'm assuming CCV will get murphy beds in 2025. Definitely important to us but not necessarily a deal breaker either (considering we own at VGC which doesn't have them yet either.)

I think the goal would always been to switch to a 1-bedroom at BRV at the 7 month mark, but we'd be fine at CCV since it's still Wilderness Lodge.

 

[ClaraOswald]

I guess my current options would be.....

Keep 50 BRV and wait for 100 BRV show up and add it. (Our UY has been pretty dead with nothing under 150pts.)
Keep 50 BRV and add 100 CCV. (Book CCV studio at 11-months, switch to 1-bedroom at BRV when possible. This would leave us with those 100 CCV to use after 2042.)

Buy a 150 BRV, try to sell our 50 BRV.
Buy a 150 CCV, try to sell our 50 BRV. (Once again, booking at CCV at 11month and trying to switch to BRV at 7 months. This option obviously costs the most but in reality is only around $3000 more than 150pts at BRV and get us 20+ more years.....)

Decisions, decisions!

 

[Disdreaming479]

I haven't watched videos, I don't think. I've looked at pics though. With 150 points, total, no matter where we stay, we'd need to borrow for a 1-bedroom. We don't plan to go every single year though. On average, we're thinking every other year. But sometimes we might do back to back years and other times we might skip 2 years in a row.

We would likely just use current UY (or expiring) points to book a CCV studio at 11-months. Then at the 7-month mark, borrow what we need to stay in a BRV 1-bedroom, if available. If not, then we'll just leave those points and use/bank in the future.

I'm assuming CCV will get murphy beds in 2025. Definitely important to us but not necessarily a deal breaker either (considering we own at VGC which doesn't have them yet either.)

I think the goal would always been to switch to a 1-bedroom at BRV at the 7 month mark, but we'd be fine at CCV since it's still Wilderness Lodge.

Well I just watched a video of 1 bdrm at CCV and it’s lovely! I’ve stayed at BRV in 2 bdrm and it’s lovely there’s no losing. It’s a wonderful place.

 

[jcolvin5]

I haven't watched videos, I don't think. I've looked at pics though. With 150 points, total, no matter where we stay, we'd need to borrow for a 1-bedroom. We don't plan to go every single year though. On average, we're thinking every other year. But sometimes we might do back to back years and other times we might skip 2 years in a row.

We would likely just use current UY (or expiring) points to book a CCV studio at 11-months. Then at the 7-month mark, borrow what we need to stay in a BRV 1-bedroom, if available. If not, then we'll just leave those points and use/bank in the future.

I'm assuming CCV will get murphy beds in 2025. Definitely important to us but not necessarily a deal breaker either (considering we own at VGC which doesn't have them yet either.)

I think the goal would always been to switch to a 1-bedroom at BRV at the 7 month mark, but we'd be fine at CCV since it's still Wilderness Lodge.

How big is your group? Will that group increase/decrease in the coming years? Sounds like you just need a little more square footage, but not a ton right now?

I LOVE WL, but ultimately the size of their 1BRs have kept us away. After staying in VGC and others, it's nearly impossible to squeeze our 4 into those rooms comfortably. Haven't stayed in a studio before.

Not trying to make this a more difficult decision for you. Ultimately a BRV/CCV would be a very nice setup for the situation you described.

DVC Shop has a handy room size comparison tool for all WDW/DL resorts.

 

[ClaraOswald]

I definitely like the look of the BRV rooms better. (Of course, who knows what I'll think years from now when they change them up again!) But I certainly don't have any problems with the decor or layout at CCV. My only concern would be the loudness of the poolside rooms. But I assume that's just during the day and not when I'm trying to sleep.

 

[ClaraOswald]

How big is your group? Will that group increase/decrease in the coming years? Sounds like you just need a little more square footage, but not a ton right now?

I LOVE WL, but ultimately the size of their 1BRs have kept us away. After staying in VGC and others, it's nearly impossible to squeeze our 4 into those rooms comfortably. Haven't stayed in a studio before.

Not trying to make this a more difficult decision for you. Ultimately a BRV/CCV would be a very nice setup for the situation you described.

DVC Shop has a handy room size comparison tool for all WDW/DL resorts.

It's just myself, my husband, and our 10 year old son. He has special needs and will likely be living with us his entire life. So eventually it would be 3 adults in the room. Right now, if we were to stay in any 1-bedroom, he would likely sleep in the main bedroom just sharing the bed with myself or my husband. I'm not sure I'd like him out in the main living space by himself yet. But hopefully when he's older it won't be a problem.

So right now, a 1-bedroom that doesn't have a murphy isn't ideal since myself or my husband would be stuck on the pull out couch. But if we could get into BRV at 7 months, that would work out fine because the murphy was comfortable in the studio.

I'll go check out that room size comparison though!

One other thing...we will almost exclusively go to WDW in January/February so looking at the charts, a 1-bedroom at BRV doesn't look too difficult to get.