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Selling up
- Thread starter irish_man
- Start date
DisneyPhD
Well-Known Member
Its certainly possible. There are lots of agencies that handle time share sales including the sponsor of this forum. They have a very large listing of DVC contracts for sale at all the DVC resorts. You should be able to get a good idea what the going rate is for your contract there. It looks like the asking price for AKV is around $85-90 per point.
Disneykidder
Well-Known Member
There are many resale web sites out there. dvcbyresale.com, sellmytimesharesnow.com and many others. Maybe in the future you can pick one back up using the same web site.
littlestar
New Member
We've used the Timeshare Store (sponsor of this board) and they were great to work with. We've bought and sold with them. Look at their listings and that will give you an idea on price.
Bear in mind that commission runs about 10% to the agent handling your resale.
If you can get $90 per point, you'll only clear about $12960 after commission ($90 x 160 x .90) Depending on how recently you purchased, the price paid and amount financed, the amount you recoup may not even cover your outstanding loan. If financed thru DVC, they will need to be made-whole when the contract changes ownership.
The full dues for 2009 will also need to be paid before closing, although you can negotiate with your buyer to fund that debt.
The amount of points available in the contract will go a long way toward determining how much you will get for it and how quickly it will sell. Assuming you are in your 2009 Use Year, if you have used some or all of the 2009 points and even borrowed against 2010, you're facing an uphill battle. With so many contracts on the market now, you'll have to discount your asking price in order to attract interest. But if you have all '09 points available and perhaps even some banked points from 2008, it will be a very appealing contract to potential buyers.
If the numbers don't work out in your favor, consider renting your points for a few years and hoping your situation improves. That may help you come close to covering your dues and monthly payments.
Good luck.
If you can get $90 per point, you'll only clear about $12960 after commission ($90 x 160 x .90) Depending on how recently you purchased, the price paid and amount financed, the amount you recoup may not even cover your outstanding loan. If financed thru DVC, they will need to be made-whole when the contract changes ownership.
The full dues for 2009 will also need to be paid before closing, although you can negotiate with your buyer to fund that debt.
The amount of points available in the contract will go a long way toward determining how much you will get for it and how quickly it will sell. Assuming you are in your 2009 Use Year, if you have used some or all of the 2009 points and even borrowed against 2010, you're facing an uphill battle. With so many contracts on the market now, you'll have to discount your asking price in order to attract interest. But if you have all '09 points available and perhaps even some banked points from 2008, it will be a very appealing contract to potential buyers.
If the numbers don't work out in your favor, consider renting your points for a few years and hoping your situation improves. That may help you come close to covering your dues and monthly payments.
Good luck.
DisneyPhD
Well-Known Member
Yes, DVC can excercise ROFR. A good resale agent should have a good idea what the ROFR threshold is for a given resort. There are also threads at dvcnews.com and mouseowners.com about what contracts are getting ROFR'ed.
dizzney
Member
Of late though, there are so many timeshares for sale due to the market conditions that Disney doesnt appear to be exercising frequesntly, Vero is going very cheaply, wish I could afford to just pick up the points but no can do right now, (anyway DH would scream at the thought of more than we currently own, we have a total 375 which was done specifically because we have 3 children and can will split 3 ways.)