Has anyone listed a DVC contract to test the water when not 100% convinced?

[PoohBears#1fan]

I'm thinking of selling one of my BC contracts as they have to be at the peak of their value being just over half way through their life.

I didn't buy with the intention to sell, BUT BC seems to be listing at more than twice than I paid for them many years ago, so my financial head says let them go - heart isn't convinced, but we have CCV points also and I could keep 1 of the BC contracts. It's mostly just myself and DH now and I think grandchildren are still quite a few years off, plus we holiday elsewhere each year also, so we could more than manage with half the points we have.

I'm tempted to test the market by listing them and seeing what offers do come in.

Anyone done this? Did you end up selling?

[YorkshireT]

I think you may get stuck with commissions if you list then pull the listing ? Will depend on terms I suppose.
If you are not using them I think your logic for selling is good. I don’t know, but can’t see the exchange rate getting much lower either, I think it may climb over the next few years back toward $1.50 - but what do I know- but if it does, that’s obviously less money as well.
Very soon the market must start to recognise that a 23 year contract isn’t worth the sums being demanded- sub 20 may be a psychological factor.

[PoohBears#1fan]

Originally Posted by YorkshireT

Very soon the market must start to recognise that a 23 year contract isn’t worth the sums being demanded- sub 20 may be a psychological factor.

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This is my thinking exactly, they're at a peak at the moment, but I really can't see that lasting, I wouldn't pay current prices for a 23 year contract against a 50 year one.

No fees if we pull the listing, so I guess there's nothing to lose... Just not sure I'm ready to let them go!

They don't owe us anything.

[Br'er Bear]

Consider renting for one year to see how that goes, BCV commands $15.50 per point for reservation that is secured more than 7 months out at David's rentals. That could offset your annual dues.

And while this possibly won't happen consider that DVC might offer an extended contract like OKW to 2057. But that wasn't a great success as only a few took that option up.

Also consider there are 6-resorts including OKW where contracts end in 2042 and I'm sure BCV and BWV will hold their prices for longer than OKW, HH and VB so worth monitoring those resorts and when they start to reduce in price then that might be the time to sell.

So check out the historical selling prices for OKW, HH and VB for over the last few years and see how they have performed and keep monitoring. But as YorkshireT states, consider if the GBP gets stronger and back to $1.5 over the next few years, then that devalues your pot by around 13%.

Good luck with your decision.

[YorkshireT]

Originally Posted by Br'er Bear

Consider renting for one year to see how that goes, BCV commands $15.50 per point for reservation that is secured more than 7 months out at David's rentals. That could offset your annual dues.

And while this possibly won't happen consider that DVC might offer an extended contract like OKW to 2057. But that wasn't a great success as only a few took that option up.

Also consider there are 6-resorts including OKW where contracts end in 2042 and I'm sure BCV and BWV will hold their prices for longer than OKW, HH and VB so worth monitoring those resorts and when they start to reduce in price then that might be the time to sell.

So check out the historical selling prices for OKW, HH and VB for over the last few years and see how they have performed and keep monitoring. But as YorkshireT states, consider if the GBP gets stronger and back to $1.5 over the next few years, then that devalues your pot by around 13%.

Good luck with your decision.

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Good points but my personal view is I don’t think there’s a chance they’ll offer an extension here, unless the economy tanks really badly just near the end and they’d have no prospect of reselling. This and Boardwalk will be the biggest money spinners- commanding huge buy in and points per night, all it needs is an upmarket refurb and probably about a billion to be made.
I doubt they’d do any extensions but if they couldn’t cope with so many coming to an end together, I suspect BRV would be the candidate for an extension.
I think they could offload VB and HHI.
Of course just educated guesses! 23 years is quite a long time.

[JasonErpelding]

Originally Posted by PoohBears#1fan

I'm thinking of selling one of my BC contracts as they have to be at the peak of their value being just over half way through their life.

I didn't buy with the intention to sell, BUT BC seems to be listing at more than twice than I paid for them many years ago, so my financial head says let them go - heart isn't convinced, but we have CCV points also and I could keep 1 of the BC contracts. It's mostly just myself and DH now and I think grandchildren are still quite a few years off, plus we holiday elsewhere each year also, so we could more than manage with half the points we have.

I'm tempted to test the market by listing them and seeing what offers do come in.

Anyone done this? Did you end up selling?

See more...

With us, for example, you can list your property and take it off the market at any point as long as you can a buyer have not reached an agreement. I am guessing you are going to be like any other seller and start high on your list price. A seller can always start high and go low. So, most likely, you are going to get offers and if you and a buyer never come to an agreement then there is no cost to you. Of course, if a buyer buys it at your asking price then you would need to sell the property. If you want to list we us we only charge a 6.5% commission and Nancy Carpenter or Wade Johnson can help you with the FIRPTA. You also receive your funds within 24 hours of the property closing. I hope that helps and best of luck to you on your decision.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

[PoohBears#1fan]

Originally Posted by JasonErpelding

With us, for example, you can list your property and take it off the market at any point as long as you can a buyer have not reached an agreement. I am guessing you are going to be like any other seller and start high on your list price. A seller can always start high and go low. So, most likely, you are going to get offers and if you and a buyer never come to an agreement then there is no cost to you. Of course, if a buyer buys it at your asking price then you would need to sell the property. If you want to list we us we only charge a 6.5% commission and Nancy Carpenter or Wade Johnson can help you with the FIRPTA. You also receive your funds within 24 hours of the property closing. I hope that helps and best of luck to you on your decision.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

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Thank you, that's really helpful. Your commission rate is good, I've been looking at 8.5! May get in touch if and when I make a decision, I'd rather not list unless I'm certain I want to sell ideally, don't like to mess people about.

My thoughts at the moment are to list both contracts with the intention of selling one & seeing what offers come in, but assume that if someone offers asking price on both then I'd have to sell?

[BevS97]

How much does being stripped affect the price you get? I’m thinking I need to wait until June 21 before I can sell as we have borrowed most of next years points.

[JasonErpelding]

Originally Posted by PoohBears#1fan

Thank you, that's really helpful. Your commission rate is good, I've been looking at 8.5! May get in touch if and when I make a decision, I'd rather not list unless I'm certain I want to sell ideally, don't like to mess people about.

My thoughts at the moment are to list both contracts with the intention of selling one & seeing what offers come in, but assume that if someone offers asking price on both then I'd have to sell?

See more...

You're welcome and if someone did offer asking price on both then you really need to sell. Be advised majority of the time buyers make offers on your property so you shouldn't have to worry. I have been involved in over 20,000 DVC resale transactions and I have never ended up selling a property for a seller who didn't want to sell. It really just doesn't happen. I have sellers who contact me who say "I need this sold ASAP" and then the price it to sell fast and it sells fast at the asking price but you don't appear to be in that category.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

[JasonErpelding]

Originally Posted by BevS97

How much does being stripped affect the price you get? I’m thinking I need to wait until June 21 before I can sell as we have borrowed most of next years points.

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Be advised if you sell a stripped contract you will be responsible for the dues on the points you used for 2020 and any points you have used from 2021. The price per point is typically less then if you had the points but the biggest difference is going to be on the dues. Stripped contracts do sell as some buyers are not coming back to WDW for a year or two and like the listing as they don't have to pay the dues.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®