Will DVC.....?

[Dean]

let my BW resale go through at $54.50 per point plus closing costs. Well, we'll see what happens. I'm thinking 50/50 at present.

 

[RobDoc]

Hmmm- please keep us posted, Dean. Nice test case!!
Good Luck!

 

[Granny]

Dean....I don't know the point status but that's a heck of a negotiated price for BWV!

Good luck on the resale getting past the DVD ROFR.

Seems to me you're up to, like, 52 time share weeks now. Are you selling your actual home and going from time share to time share.

 

[Dean]

Originally posted by Granny
Seems to me you're up to, like, 52 time share weeks now. Are you selling your actual home and going from time share to time share.

Now there's a thought, I could be a gypsy. Actually only 9 weeks or the equivilent. 3 DVC contracts now (hopefully), 3 Marriott's, 2 Aruba weeks and 1 MX week. I just had to balance my portfolio as it seemed uneven with more Marriott's than DVC. I had an OKW verbal agreement at $50 per point with extra and banked points but the Divorce situation messed it up.

I'll let the group know once we get that far. I still have trouble believing the $58 per point floor that I've seen batted around. We shall see.

 

[Betty X]

We bought a BWV resale with banked points in October 99 and I think we paid in the $51 to 52 range plus closing costs. If you'd like I can dig it out.

 

[Betty X]

I dug it out because I was curious. We paid $50 per point ($7500) plus closing costs of $525. Works out to $53.50 per point total. There were also some banked points, I think there were 104 but I can't find a record of it. Resales are the way to go, we are done paying for it in October and it was painless.

 

[chris1gill]

Hi Dean,

Why didn't you add the closing costs to your offer & have seller pay closing costs? It would have boosted your price per point up a bit, getting you closer to the magic number of 58.... Now, how you found such a contract is my question!!!

 

[Dean]

Originally posted by chris1gill
Why didn't you add the closing costs to your offer & have seller pay closing costs? It would have boosted your price per point up a bit, getting you closer to the magic number of 58.... Now, how you found such a contract is my question!!!

It would have been a deal breaker for one thing even if the dollars were the same. While my previous thinking was like your's, I suspect it wouldn't make any difference. I'm assuming DVC is smart enough to separate out the costs and really go by their overall total costs rather than just the cost per point of the offering price, remember that DVC will have closing costs associated also.

I paid around $50 pp in 99 for my second OKW contract including closing but times have changed. I believe the price pp then was around $62.75 or so and the buy back level was at $48-50 per point. A Timeshare Store and ATIMESHARES both state DVC bill buy back at less than $58 pp, we shall see.

 

[chris1gill]

Well, be sure to report back what they say, I'm most interested to see if that 58.00 is a firm number or not!

 

[DVCajun]

I'm surprised that the seller is interested in selling for this price. Since BWV is sold out it seems like the demand would make the price increase.

 

[CarolMN]

Originally posted by chris1gill
Why didn't you add the closing costs to your offer & have seller pay closing costs? It would have boosted your price per point up a bit, getting you closer to the magic number of 58.... Now, how you found such a contract is my question!!!

This is just a guess, but since Dean said it would be a deal breaker, I'm wondering if this would affect the broker's commission, which is almost always paid by the seller. If the commision is a set fee it wouldn't, but I'm thinking the commision is a % of the sale price, not including taxes and fees. So if the price per point goes up, then so does the commission that the seller has to pay.

Good luck, Dean! Sometimes I wonder how you have the time to use and enjoy all of your timeshares!

 

[Granny]

Originally posted by CarolMN
Good luck, Dean! Sometimes I wonder how you have the time to use and enjoy all of your timeshares!

Actually, finding time to use and enjoy 9 weeks would be a pleasant challenge for most of us. I'm just surprised that Dean can do all that and still share his expertise with us on these boards.

And Dean....that's the first time I ever heard anyone refer to the need to balance a "time share portfolio". No wonder you think in investment terms in your discussions!