Who to contact to represent the buyer?

[fflmaster]

So, my wife and I are considering buying resale at Poly.

When checking the sponsors site you see different contracts available/up for sale.

My question is does the sponsor represent the seller or buyer, because they can't represent both.

Say, I am looking for a particular price point. Do I need to ask every single contract for sale if they are willing to sell at my price? Or can I say I am looking for a poly contract at this price range and the agent will contact all listed sellers to see who is willing to sell?

 

[lilsonicfan]

It’s not the type of real estate transaction you’re used to. The agent can act for both seller and buyer. Typically you need to make an offer on any contract you’re interested in. I doubt any broker would do what you’re looking for, ie source a contract for you. It’s not like house shopping.

 

[Chili327]

No.

 

[fflmaster]

It’s not the type of real estate transaction you’re used to. The agent can act for both seller and buyer. Typically you need to make an offer on any contract you’re interested in. I doubt any broker would do what you’re looking for, ie source a contract for you. It’s not like house shopping.

I kinda get that, but in terms it is a property contract where you pay taxes and such. Incredibly small amounts, but kinda.

I just feel like its anti productive to go to each listing and put a bid in for a price. I just did that and was told I need to pick one seller at a time. Wait to see if they accept or counter. With DVC, doesn't matter to me who sells. Just want the price point for the contract be it loaded it stripped. Different price maybe, but just offer to all. Who takes it is fine.

 

[Chili327]

Sorry, I couldn’t resist. But as posted you just make an offer on a contract you like. Correct Use Year, amount of points, etc.

Try DVCforLess.com to find more options.

 

[lilsonicfan]

I kinda get that, but in terms it is a property contract where you pay taxes and such. Incredibly small amounts, but kinda.

I just feel like its anti productive to go to each listing and put a bid in for a price. I just did that and was told I need to pick one seller at a time. Wait to see if they accept or counter. With DVC, doesn't matter to me who sells. Just want the price point for the contract be it loaded it stripped. Different price maybe, but just offer to all. Who takes it is fine.

“Kinda” is the operative term. It’s not a property contract, it’s a timeshare deed, a right to use the property. It isn’t an open market where you as the auctioneer get to shout out prices to see what seller bites. They have asked a broker to handle the sale for them. There isn’t going to be a broker who curates contracts for you, but, find an aggregator site and you’ll get all the listings at once. Chili327 suggested a good one for you.

 

[lilsonicfan]

When I was buying, I made a spreadsheet of contracts I was interested in and ranked them all, loaded contracts being higher rank than stripped ones. I didn’t rank based on asking price. I didn’t look too hard at who the broker was, just put the listing link into my sheet for easy reference. Only made offers on my top ranked listings.

 

[disneylandtour]

I'd say you represent yourself, the broker represents the seller (typo fixed), all terms and pricing are open to negotiation, and the contract language is boilerplate and no one is going to change any of that.

Think of it more like buying a very nice used car from a lot that takes consignments.

Like many people here, I've bought a bunch of resale contracts. Hang out on the board for three or six months, and you'll be in a much better place to find and make a good deal.

 

[juliebee]

I'd say you represent yourself, the broker represents the buyer, all terms and pricing are open to negotiation, and the contract language is boilerplate and no one is going to change any of that.

I'd say the broker represents the seller, not the buyer.

On a recent DVC Fan video or maybe it was a World of DVC video, they mentioned you could chat with an agent and ask if they knew if there were sellers that were particularly motivated so they could steer you to a listing that matches your requirements including amount you want to pay.

 

[Sandisw]

Timshare brokers are transaction brokers which means they simply act to put buyer and seller together.

Everything is negotiatable. As a buyer, you offer what you’d like and they present it to the seller.

The only time they don’t have to is if the seller has told them not to bring them offers below a certain spot.

So, there isn’t really a specific agent to act as a “buyers” agent.

In terms of offers? Some have put in multiple ones at a time with different brokers. There is nothing to stop you.

However, we never did and dealt with one at a time. We did our in a time limit though. Have owners 24 hours to respond or we moved on to the next contract.

 

[Matty B13]

You don't have to wait and bid on one contract at a time, you can make offers on several contracts and see who comes in closer to your price....... But a broker might not be willing to work with you if you make several offers on contracts on their website. Until you sign a contract to buy, you are not obligated to anyone. That being said, if this is your first DVC contract and/or resale DVC contract then you should do a lot of research about what you need in a contract and under stand how the system works (ie. banking and borrowing points) and how UY (Use Year) can be a big deal when bidding on contracts you like. Also, you may think you like a resort you have never been to but you may not after a visit. There is also the newer restrictions on new DVC resorts which makes it even more complicated. So take your time before you drop down $20-$30k.

 

[MICKIMINI]

It is definitely in favor of the seller since the resale company has the listing, however an educated buyer puts in an offer to their benefit and IMO gives a 24 hour accept or reject clause so you can move on.

*Make a list of best contracts to bid on. Get a notebook and write it out page by page. You will have notes to go back to if you are not successful initially. This way you are ready to go when the right contract pops up with no second guessing yourself. Being the first offer gives you a better chance IMO as it has worked for me many times.

*Decide, based on each contract what you will offer in price, who pays MF's and closing costs.

*Points from 2023 should be "free" and points from 2024 should be "free" IMO since it is time for 2025. You will be obligated (unless you negotiate otherwise) for 2025 at closing. Consider asking seller to bank points if it is a short window for use.

*Larger contracts often have less potential buyers so you can get more aggressive. If you can afford the annual MF's you may get a deal!

The bottom line is what is important. Run the numbers on each viable contract to see where you come out. I use $10 for MF's per point and 1K closing to quickly do calculations. 2025 MF's will be on the seller at closing.

EXAMPLES 200 Poly Buyer Asking $165 PP:

1. Full price offer at $165 PP. 2024 MF's buyer pays. Buyer pays closing. Cost 33K, 2K 24 MF's and 1K closing. Total 36K.

2. Full price offer at $165 PP. 2024 MF's seller pays. Buyer pays closing. Cost 33K, 0 MF's and 1K closing.
Total 34K

3. Full price offer at $165 PP. 2024 MF's seller pays. Seller pays closing. Cost 33K.

4. Offer $155 PP, buyer splits 2024 MF's (1K each). Buyer pays closing. Total 33K.

This is just an example of variations in potential offers. Poly expires in 2066, so you are looking at 40 years. Based on the options above, there is a spread of just 3K over 40 years which is only $75 per year!

30 year DVC owner. Own direct and resale. Bought and sold more than a dozen resales.

Good luck!

 

[disneylandtour]

I'd say the broker represents the seller, not the buyer.

On a recent DVC Fan video or maybe it was a World of DVC video, they mentioned you could chat with an agent and ask if they knew if there were sellers that were particularly motivated so they could steer you to a listing that matches your requirements including amount you want to pay.

Sorry. That’s what I meant. The broker represents the seller. Late night post.

 

[Pluto1976]

As many have said, that is just not how it works. My take, and others can disagree, in this transaction you represent yourself. This means more “work” and perhaps “fun” in finding the right resale for the right price which are metrics only you guys can set.

While it’s technically the broker representing both parties their interest is to sell contracts and lets be real sell at a higher price to increase their commisions. Given that, they are essentially sellers agents. The takeaway; create your criteria for an ideal contract and price and look for it. Make an offer you are happy with and be willing to walk away if your terms are not met.

 

[disneylandtour]

In terms of practice, the broker clearly represents the seller (despite my late-night typo above). Their interests are far more aligned than that of the broker and buyer.

For example, as a buyer, which of these lines have you heard from a broker

(1) Your offer is too low for this contract (or some such variation on that same idea), which protects and promotes the seller's interests

OR

(2) You know, I think you'd be OK if you offered a little less. And if that's not taken, you can just increase your offer later. Which protects the buyer's interests.

As far as I can see, there's little evidence to support the broker primarily representing the buyer's interest in this--or even being a 50/50 split in terms of interest. The broker might offer some helpful tips (i.e. you might want more points to meet the plans that you have) or the broker might help the buyer finish the process. Any other way of looking at this, I think would be both naive and wouldn't really acknowledge the relational structure that is in play here.

 

[Brian Noble]

I just feel like its anti productive to go to each listing and put a bid in for a price.

That's fair.

But that's also what you have to do. You pays your money, you takes your chances.

 

[Chili327]

When I was buying, I made a spreadsheet of contracts I was interested in and ranked them all, loaded contracts being higher rank than stripped ones. I didn’t rank based on asking price. I didn’t look too hard at who the broker was, just put the listing link into my sheet for easy reference. Only made offers on my top ranked listings.

Yep, find the right contract, regardless of where it is, then you can weed out all the ones that don't fit your needs, & start making offers, starting with the cheapest or best fit, etc.

 

[samsp99]

It’s not the type of real estate transaction you’re used to. The agent can act for both seller and buyer. Typically you need to make an offer on any contract you’re interested in. I doubt any broker would do what you’re looking for, ie source a contract for you. It’s not like house shopping.

Its more like Sotherby's as an auction house, they are acting as a middle man, rather than as a real-estate agent. They do some due diligence on ensuring that the product is as described etc.

At the end of the day, the contracts are a slightly complex commodity - a 100 pt Feb UY at BWV contract is the same as any other of the same UY and point value. There may be some banked points or it may have been stripped and that is where the pricing complexity comes in.

Using the ROFR thread to justify your price when making an offer seems to help and gives the broker something to go back to the seller with if you are not offering the asking price. It really comes down to how much is the seller willing to take and are their expectations realistic, just like selling anything else. Unlike a car or house, there is not a condition aspect, nor should there be sentimental value, but people can have strange attachments.

 

[bookbabe626]

Be aware that the broker doesn’t have to inform you if there are other offers or give you a suggested timeline for response. And sellers don’t have to abide by their counter-offer if they get another offer in the interim.

If you submit an offer, start checking your email non-stop for responses, even if it’s a weekend and you are out someplace and it’s really inconvenient. Because even if the seller sends you a counter-offer, if you don’t respond fast enough (ie immediately) they can just move on to another offer and when you accept their counter-offer less than 24 hours later you get told it’s been sold to someone else.

Ask me how I know. :-(