I am curious if anyone has sold a DVC contract. How long did it take? Did the resale broker help you identify price? Was your contract with the broker for a certain amount of time? Expected commission or other costs?
I think @OBNurseNH is reading this as “I am turning in my Liner membership card and abandoning the WDW community.”
I have purchased a resale and it was a 3 month long process if I recall. The contract I had purchased had just gone up for sale. I believe the time. You will wait for someone to buy it depends a lot on how many points you have in each of your use years. I used https://www.dvcresalemarket.com/
We sold a small BLT contract (50 points) last year with resaledDVC.com. Used the proceeds to buy a larger contract They did coach us on listing price. I don’t think there was a time frame or expiration date on the listing agreement. It took us about 12 days to find a buyer, then the documents needed to be signed by us the buyer and it went to Disney for right of first refusal. They have 30 days to do that. After that you and the buyer need to execute the closing docs and exchange the money. I would say it took 60-75 days in total. I can’t seem to find the closing docs so I can’t tell you what the commission was.
I listen to a podcast about DVC. I think it is put on by the owners of the DVC store. They buy and sell.
Thanks @gabmom, I will look them up.
Thanks, I have looked at them to purchase, just never looked at the other side. I see they have a whole section on their site. I will read it. I have heard them on podcasts too.
I used the DVC Resale Market when I bought. It is a lengthy process. Easy on the buying end, no idea obviously about the selling end. But it does take about 3 months from offer to closing; add time for listing.
lol, my subscription currently runs until September 2023. My goal has always been to be a liner for life.
Thanks, no rush. I honestly am hoping I don’t have to sell. My son is a co-owner. I really shouldn’t listen to DVC Points Podcast. This week’s episode is on estate planning. I guess I was about 1/2 through when I started thinking about my son who might be heading towards bankruptcy, (honestly, I have heard enough about this subject from my husband so I am not looking for ANY discussion on this). I realize my DVC is one of his assets and I guess if it heads that way I will just sell and solve a couple of issues.
I just want to be prepared and have a plan if needed.
I haven’t listened to that one yet.
I’m sorry to hear your son is struggling. Are you considering offloading so as to help him? Or are you thinking about the asset as something they would take? If the latter, could you simply revise the deed to remove him and therefore shelter it from being taken?
I hope it doesn’t come to having to sell, but I agree it’s wise to have a plan in case you do.
Fingers crossed for your son.
You are between a rock and a hard place. Does your son own other property. Did he lose a job due to the virus. Can you buy him out. My son and I got 75 points at Riviera. I was supposed to use the ones expiring at the end of August. I would like to rent or give the room to someone. My CM friend isn’t back to work yet and can’t take it because they have a dog. His CM pass is blacked out. I process bankruptcy claims at work. Would he do liquidation or reorganization
We co-purchased the DVC so that even after my death, he would be able to enjoy Disney. The value of the DVC would actually wipe out most of his debt. Although he is still working, most of the “extra” salary has been eliminated and has impacted him.
My husband just lost his job, not sure what he will get from unemployment. This virus is wreaking havoc. I lose a chunk of my paycheck now having to cover health insurance.
I’m so sorry to hear this, @gabmom
I may land up getting a part time job. We don’t know what he will get on unemployment.