Thoughts - Should I sell or try to rent?

[SheilaHeartsDisney]

Please move if needed.

Looking for thoughts on what we should do?

So my parents added on 35 points to Grand Floridan villas with the hopes that they would have a concierge level they could use 1 or 2 nights of their trip. Unfortunately that never happened so they never use the Grand Floridian points at 11 months out.

Do you think it's worth it to try to rent the 2 days of Grand Floridan points or should we try to sell them back to Disney or to someone who can add on to Grand Floridian and lessen the yearly maintenance fee?


Thanks!!


Edit: I also want to note that my dad passed away 5 years so my mom rarely uses these points. We are always scrambling at the end of the use year to use all these point we have left over. The majority of points are in OKW.

 

[Her Dotness]

Those would be perfect for the only type of split stay we enjoy--arrival night or last night or two somewhere else and the rest of our stay at VGF. That could be a way to use them unless you don't care to do that.

The problem with only 35 points is that you haven't enough for more than 1 VGF night any time of year. The
least-points night is 16 in a studio or one night in a 1br for 31pts in September. Any other time/level requires more points.

I've no idea if it is feasible to try renting out that few points. Someone will know.

I suggest clicking on the DVC on the toolbar up top and then on Rent to investigate what would be involved renting out those points. I fear it may be more hassle than it's worth but don't know.

Also look into what is involved selling through a resale broker. You'll get a better price than offering them to Disney direct. Click DVC, then Buy and Sell for that.

ETA: That added info makes a definite difference.

Then, it's your mother and you, I'm guessing? Selling sounds advisable to me in that case. There'd be no messing with renting them out or trying to use them yearly unless you like my idea of a split--1-2 nights at VGF and the bulk of your stay at OKW.

 

[CarolMN]

Given what you've posted, my advice is to sell. Renting can be a hassle and you'd still be scrambling every year to get rid of them. Selling while your mother is still alive will be easier than dealing with this afterwards.

 

[RoseGold]

If your mom doesn't use these, maybe it's time to figure out an overall estate plan before you are hiring a lawyer to probate these in Florida.

I would absolutely sell a contract that small over paying to retitle or probate it. Now is a great time to sell DVC. If it were my contract, I would rent it out a couple years. But with this kind of situation, it's time to sell or retitle.

VGF is a little depressed in resale price right now, and I think it will come back in a couple years. But for so few points, this is a couple hundred dollar discussion. Just get rid of it now.

This thread might be helpful to you:
https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/

 

[SheilaHeartsDisney]

Thanks for the advice everyone! My mom and 3 sisters are all listed on the title but my Immediate family are really the only ones to use it every year. My one sister lives in Florida and uses a day here or there but its never for Grand Floridan and she never books anything more than 3 months out.

I think I agree to sell these Grand Floridian points. Just wanted to hear what other think who have more experience.

 

[RoseGold]

You should get some legal advice about having four humans on the title.

I would never do this. Example: https://www.disboards.com/threads/k...-but-ex-is-now-filing-for-bankruptcy.3894488/

I would figure out who actually wants this stuff and pay people out or sell it to get the title how you actually want it. It's not like DVC is hard to come by later, and the answer for your family overall might just be to sell to split this fairly. Now is a great time to sell DVC and get this settled while mom is alive.

If you do want to do this as a joint project, maybe it's time to get some real legal advice and do this with a trust. Lots of people buy DVC as a trust for many reasons.

If your sister only wants a night here and there, the VGF contract makes a lot of sense to me with the costs to sell and VGF's excellent value as SAP and as direct points for possible future resorts. It sounds like it's perfect to put in her name actually.

 

[MICKIMINI]

I agree, sell the points and move on.

 

[howardlee2]

I would sell. seems like a big headache each year for at most a 1 night stay.

 

[sndral]

Small point contracts tend to sell for more per point than larger contracts. I wouldn’t be surprised if it sold fairly quickly. If your mom & sisters are in agreement list it for sale w/ one of the DVC resale brokers, there are several. Be aware that everyone on the title will have to have their signatures notarized on their closing documents, so plan for that so as to not delay things for your buyer.
Alternatively, if you decide to keep the points you aren’t limited to just one set of 35 points a year, you can bank and have 70 points every other year for a couple of nights in a VGF studio, or you can bank & borrow for 105 points every 3 years which equals 5 nights in a VGF studio to use or rent.

 

[SheilaHeartsDisney]

Small point contracts tend to sell for more per point than larger contracts. I wouldn’t be surprised if it sold fairly quickly. If your mom & sisters are in agreement list it for sale w/ one of the DVC resale brokers, there are several. Be aware that everyone on the title will have to have their signatures notarized on their closing documents, so plan for that so as to not delay things for your buyer.
Alternatively, if you decide to keep the points you aren’t limited to just one set of 35 points a year, you can bank and have 70 points every other year for a couple of nights in a VGF studio, or you can bank & borrow for 105 points every 3 years which equals 5 nights in a VGF studio to use or rent.

Very good point about the banking and borrowing of points. And thank you for the reminder about the notary. With 5 people on the deed in two different states this should be fun.

 

[dvc lover 1970]

I would probably wait to sell those points until VGF II is sold out. While it is in active sales, people usually go towards direct for smaller contracts.

 

[RoseGold]

Very good point about the banking and borrowing of points. And thank you for the reminder about the notary. With 5 people on the deed in two different states this should be fun.

It's a lot more fun when all they have to do is track down a notary in a few days, instead of a hiring a lawyer in another state and figure out how Florida handles bankruptcy transfers or probate in that other state.

 

[TCRAIG]

Very good point about the banking and borrowing of points. And thank you for the reminder about the notary. With 5 people on the deed in two different states this should be fun.

It’s all online now - including the notary (if you want).

 

[RoseGold]

It’s all online now - including the notary (if you want).

Maybe, depends on where all the other owners are. YAY!

 

[RoseGold]

I would probably wait to sell those points until VGF II is sold out. While it is in active sales, people usually go towards direct for smaller contracts.

I mean yea, but this small contract, this is a three figure discussion. I would just want this handled.

 

[TCRAIG]

Maybe, depends on where all the other owners are. YAY!

We used the Notorize APP…each of us had our own docs to e-sign and our own notary scheduled.

 

[SheilaHeartsDisney]

Ohh wow this is awesome!! I love Technology.

 

[SheilaHeartsDisney]

It’s all online now - including the notary (if you want).

We used the Notorize APP…each of us had our own docs to e-sign and our own notary scheduled.