Thinking about selling...

[fofinia]

Hi. My DH and I are thinking about selling our points off. I'm trying to figure out how much the average commision is on the sale. I've looked at most of the resales websites and I keep coming up "Call us and we'll discuss it." I'm not ready to call and talk to a broker about it. I'm still in the figuring out phase. Could anyone give me some ball park figures. Is the commission a certain percent of the sales price? Do some companies have just a set fee. I did see one charges $295 and up. We want to figure out if it's worth it to sell at all.

Any help would be greatly appreciated!! Thanks.
Jennie

 

[TifffanyD]

Hi. My DH and I are thinking about selling our points off. I'm trying to figure out how much the average commision is on the sale. I've looked at most of the resales websites and I keep coming up "Call us and we'll discuss it." I'm not ready to call and talk to a broker about it. I'm still in the figuring out phase. Could anyone give me some ball park figures. Is the commission a certain percent of the sales price? Do some companies have just a set fee. I did see one charges $295 and up. We want to figure out if it's worth it to sell at all.

Any help would be greatly appreciated!! Thanks.
Jennie

I think the timeshare store charges 10%

 

[MikMin6554]

I think the timeshare store charges 10%

TifffanyD is correct we just received the documents via e-mail from the TSS.

 

[felway17]

Wow that is a lot..... I wonder if anyone has tried to sell via private person. I see on this website the rent/trade .... but I am sure there is a way to sell privately.

 

[spiceycat]

yes

same places you rent
www.tug2.net
www.redweek.com
www.myresortnetwork.com

but remember you have go through DVC for rofr.

 

[fofinia]

I think the timeshare store charges 10%

TifffanyD is correct we just received the documents via e-mail from the TSS.

Thanks so it is 10% of the final price? For EX. 100 points at $80 pt = $8000 Commission = $800

Don't mind me. I'm feeling kind of dumb today!

Is 10% the norm for most places?

 

[Mtnman44]

you can sell it yourself and use a closing company to handle the paperwork, usually for around $300 to $400. These are "closing costs" which the buyer typically pays all or part of.

A broker is basically taking 10% for finding your buyer for you. If you think you could do that yourself, then you don't need them.

I sold a previous timeshare on my own once, after listing it on ebay. It was not DVC. It was fairly easy. After the buyer "won" the auction for the deposit, all I did was send the contract terms and buyer and seller info to the closing agency and they did all the rest. it did take a couple months.

 

[felway17]

Is 10% the norm for most places?

I just sold me normal house... and I paid 5% commision.... I guess you also have to figure that timeshare's and vacation clubs.... are not the big seller, so an agent probably takes a bigger share

I have looked at some of the ones for sale now... and it seems to me that there are more for sale then any other time... and look like people are underselling each other. At one point I thought SSR was going for $85 to $90 a point on resale... now it looks like $80

 

[FLYNZ4]

One of the problems is that from a BUYER's perspective... there is little if anything to be gained by working with a seller directly... and potentially a lot to lose.

A buyer is not going to pay any less because anything less than what is available through a broker will likely not pass ROFR. Yes... generally, the seller makes out, but the buyer doesn't.

Before you ask... if you make a side deal to "split" the saved commission outside of the contract... I *THINK* it would be real estate fraud... so check with your attorney and tax accountant first.

I chose to use TSS to sell some DVC contracts.

/Jim

 

[WALTSAGOD]

One of the problems is that from a BUYER's perspective... there is little if anything to be gained by working with a seller directly... and potentially a lot to lose.

A buyer is not going to pay any less because anything less than what is available through a broker will likely not pass ROFR. Yes... generally, the seller makes out, but the buyer doesn't.

Before you ask... if you make a side deal to "split" the saved commission outside of the contract... I *THINK* it would be real estate fraud... so check with your attorney and tax accountant first.

I chose to use TSS to sell some DVC contracts.

/Jim

I agree, if I'M not going to save the $800, why do I want to buy direct instead of letting a broker handle any problems that may arise?

 

[fofinia]

you can sell it yourself and use a closing company to handle the paperwork, usually for around $300 to $400. These are "closing costs" which the buyer typically pays all or part of.

A broker is basically taking 10% for finding your buyer for you. If you think you could do that yourself, then you don't need them.

I sold a previous timeshare on my own once, after listing it on ebay. It was not DVC. It was fairly easy. After the buyer "won" the auction for the deposit, all I did was send the contract terms and buyer and seller info to the closing agency and they did all the rest. it did take a couple months.

Thanks for pointing out that option. I had no idea. And how entrepreurial to do it on ebay!

I have looked at some of the ones for sale now... and it seems to me that there are more for sale then any other time... and look like people are underselling each other. At one point I thought SSR was going for $85 to $90 a point on resale... now it looks like $80

yes I thought the same thing. And said as much to DH. Now is probably not the best time to sell. Things never seem to happen at the right time though do they? But I guess this is when ROFR comes in handy. And if Disney is determined to not let their prices go down at least you know they will buy it back if it is too low. As a seller I see that as a comfort. As a buyer not so much.

Before you ask... if you make a side deal to "split" the saved commission outside of the contract... I *THINK* it would be real estate fraud... so check with your attorney and tax accountant first.

I chose to use TSS to sell some DVC contracts.

/Jim

Thank you. Definitely don't want to commit any kind of fraud. But hadn't even thought of the splitting commission thing. Although maybe I would've later!

 

[TifffanyD]

Thank you. Definitely don't want to commit any kind of fraud. But hadn't even thought of the splitting commission thing. Although maybe I would've later!

I *think* you could offer some incentives like paying dues and closing costs... that would be legal (I think... but I'd def check) and distribute the savings to the buyer some.

 

[DVCRob]

I would think selling privately at the top dollar for rofr makes sense. You will have a smooth closing bc Disney is buying from you. Unfortunately, the potential buyer would be screwed.

 

[Chic]

Fofinia-I have the solution! Sell me your DVC contract at $5 a point and I won't charge you any commission!!

 

[fofinia]

Fofinia-I have the solution! Sell me your DVC contract at $5 a point and I won't charge you any commission!!

Thanks