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General DVC Discussion For discussion on how the DVC works and resort information. |
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1 Apr 20, 06:30 PM |
#1
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VIP Dibber
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Thinking of selling after crisis over
I had to cancel a trip last May due to my son being seriously ill and that initially was a nightmare until Disney came through
This year looks like a nightmare as well with missing banking window Ive now realised DVC with its numerous restrictions is just a complete pain if plans change Im going to sell my 170 SSR points and just keep my little BWV and BCV contracts as I have three and closing costs for each probs wipe out the money I would receive Anyone else feel like this ?
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2 Apr 20, 02:09 PM |
#2
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Excited about Disney
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I am sorry to hear about your situations last year and this year. Hopefully, things get better for you soon. If you do need to sell Buy and Sell DVC, Inc.® would be happy to help. I have been involved with over 30,000 transactions and our commission is only 6.5%.
Stay safe. Jason Erpelding Lic. Real Estate Broker Buy and Sell DVC, Inc.®
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3 Apr 20, 07:20 AM |
#3
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VIP Dibber
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I must admit I was thinking of selling once this is all over, but sadly I don’t know if it will be worth my while?
When we purchased, I listened to advice saying buy smaller contracts as they are easier to sell, so I have 2 x 100 pts & 2 x 25 pt contracts, and as you say, I’m wondering if the closing costs will mean my contracts won’t be worth me selling? |
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3 Apr 20, 09:08 AM |
#4
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Imagineer
Join Date: Jun 16
Location: God's Own Country
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I think selling just because of Corona is overly reactionary- unless you need the cash.
Most of these contracts have 30, 40+ years left- literally half a lifetime. I’m hoping Disney bounces back next year. May not be until mid or later in the year but hopefully it will get there. I’m hoping for Dec 2021 and will hopefully be able to rent excess points next year if we can’t get over. But we will see.
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3 Apr 20, 01:32 PM |
#5
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VIP Dibber
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Oh yes I agree - I’ve been thinking of selling mine for a while, haven’t liked the direction DVC has been taking and tbh I just don’t find WDW the pull it once was for us, although we love Aulani, so that is keeping us invested at the moment - that and as I say, having small contracts which will incur too many fees to make selling a good option
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4 Apr 20, 03:45 PM |
#6
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Excited about Disney
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The buyer would be paying the closing costs. The only extra costs you would have by having multiple properties are the $150 fees that Disney charges. You have small point contracts though so you might be able to charge more to make up for the $150 you have to pay.
Jason Erpelding Lic. Real Estate Broker Buy and Sell DVC, Inc.®
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Approved Sponsor Buy and Sell DVC Licensed Real Estate Broker for Buy and Sell DVC |
4 Apr 20, 10:21 PM |
#7
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VIP Dibber
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5 Apr 20, 07:48 AM |
#8
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Thread Starter
VIP Dibber
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I was thinking this too.
I dont like DVC either much now. Maybe a bad run of having to cancel two full holidays two years on the trot have made me jaded, but its the way DVC are handling the 4 month banking window that puts me off even more. I think the USA tax man keeps 10% of costs as well doesnt he and its massively complicated to get it back ?
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6 Apr 20, 03:34 PM |
#9
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Excited about Disney
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The buyer is going to have the purchase price, closing costs and annual dues on the points they are getting.
As a seller you pay a 6.5% commission and $150 in fees to Disney. So with the separate contract numbers you would have $150 on each contract number rather than just one time. The legal costs I believe you are referencing are the closing costs and they are paid by the buyer. Jason Erpelding Lic. Real Estate Broker Buy and Sell DVC, Inc.®
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Approved Sponsor Buy and Sell DVC Licensed Real Estate Broker for Buy and Sell DVC |
6 Apr 20, 05:29 PM |
#10
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Imagineer
Join Date: Jan 03
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It's really easy to apply for the 15% tax back, we used a FIRPTA specialist, well worth the cost. The tax payable is only on any profit made less costs.
Edited at 05:30 PM. |
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