How to sell?

[Jandreas]

Sadly, I am considering selling (resorts removed) Is it best to use a broker? How does one go about this process? Any guidance would be much appreciated.

 

[Sandisw]

I removed the resort names of what you want to sell so not to be seen as For Sale post which we don’t allow.

We have sold plenty and I think using a broker is the best way. It was worth the commission.

 

[superdiz]

Sadly, I am considering selling (resorts removed) Is it best to use a broker? How does one go about this process? Any guidance would be much appreciated.

Reach out to DVC Resale Market. They are committed to getting the most bang for your buck.

 

[AstroBlasters]

Sadly, I am considering selling (resorts removed) Is it best to use a broker? How does one go about this process? Any guidance would be much appreciated.

As a PP stated, I would reach out to the board sponsor and have them walk you through the process and give you an estimate of how much they think you could get after costs and commissions.

I personally find most of their contracts overpriced, but that would be a positive if I was a seller as long as their massive marketing arm brings in buyers willing to pay it.

 

[kilik64]

If you need a quick sale, I'd use a broker.

If not, you can save a decent chunk (like 10%) by not using a broker, but involves more work on your end. But depending on how big a sale you are talking about, the savings could be worth it.

 

[Brian Noble]

When it comes time to sell your house, will you FSBO it, or use an agent?

If you'd use an agent for your house, use an agent for the timeshare. The timeshare is much less work than the house, but it is also much less expensive.

 

[UrsulaWantsYourSoul]

Recent DVC show video:

 

[MagicDVC]

When we sold, we used dvcresalemarket.com. It was a easy process and they got us higher than what I was seeing on the ROFR thread. It was worth the commission. I've heard of others posting on different resale sites for wider reach, but I've had no real world experience doing that. Good luck!

 

[DanCali]

Sadly, I am considering selling (resorts removed) Is it best to use a broker? How does one go about this process? Any guidance would be much appreciated.

I don't view selling a timeshare like selling a home. There are no issues with inspections, repairs, pests, mold etc that a buyer needs to worry about, and most resale buys are with cash rather than financing. A DVC contract is a pretty homogeneous item.

We have not sold DVC and all our purchases were via brokers, since they seem to have a solid grip on the market. However, we have bought all our 10+ other deeded timeshares on Redweek and if I were to ever sell our DVC I would definitely try that route before paying an 8-10% commission.

Membership for Redweek will cost you about $20/year and a 6-month listing will cost you about $40, so the risk is minimal. You can always give that a try, list it at a reasonable price (you can get an idea from DVC listing aggregators) and see what happens. You will still need a closing company for escrow, but closing costs are typically paid by the buyer so a potential buyer can hire whoever they want. Most Redweek resale buyers would know what do do. I've used https://timeshareclosingsforless.com/ for our Marriott closings multiple times (it's a small shop, pretty much a sole practitioner) and I'm pretty sure she advertises the ability to do DVC deeds. I would happily use that service again as a buyer. Or, alternatively, hire one of the several independent DVC closing companies like https://www.dvcclosings.com/ that many here are happy to use, including us. Any closing company can probably help you out with a simple sales contract that you and the buyer can sign.

 

[MICKIMINI]

Use a broker. Set your parameters ahead of time so you aren't talked into a price or conditions you aren't comfortable with. I would call a few brokers for an opinion on your contract. Good luck.

 

[AstroBlasters]

I don't view selling a timeshare like selling a home. There are no issues with inspections, repairs, pests, mold etc that a buyer needs to worry about, and most resale buys are with cash rather than financing. A DVC contract is a pretty homogeneous item.

We have not sold DVC and all our purchases were via brokers, since they seem to have a solid grip on the market. However, we have bought all our 10+ other deeded timeshares on Redweek and if I were to ever sell our DVC I would definitely try that route before paying an 8-10% commission.

Membership for Redweek will cost you about $20/year and a 6-month listing will cost you about $40, so the risk is minimal. You can always give that a try, list it at a reasonable price (you can get an idea from DVC listing aggregators) and see what happens. You will still need a closing company for escrow, but closing costs are typically paid by the buyer so a potential buyer can hire whoever they want. Most Redweek resale buyers would know what do do. I've used https://timeshareclosingsforless.com/ for our Marriott closings multiple times (it's a small shop, pretty much a sole practitioner) and I'm pretty sure she advertises the ability to do DVC deeds. I would happily use that service again as a buyer. Or, alternatively, hire one of the several independent DVC closing companies like https://www.dvcclosings.com/ that many here are happy to use, including us. Any closing company can probably help you out with a simple sales contract that you and the buyer can sign.

It’s too bad the aggregators don’t import those listings…. that I am aware of.

 

[DanCali]

It’s too bad the aggregators don’t import those listings…. that I am aware of.

I don't believe they do. There aren't that many DVC listings there. Most I've seen are listed by brokers at higher than average prices, but I also wouldn't be surprised if there was something reasonably priced there once in a while by an actual owner. I'm not really sure how many DVC buyers visit Redweek, but Redweek members can set alerts for new rental or for-sale listings by resort, so you never know who might get it right after its listed. That's how I was able to get some prime Marriott weeks that sell very quickly (when priced reasonably) like oceanfront view, or fixed 4th of July and New year's weeks.

 

[Rex1993]

The contract I’m sending to ROFR next week came from an aggregator alert.

My take is that the relatively uninformed buyers will go to the brokers with heavy advertising and likely pay higher prices because they aren’t doing the homework. If you want the absolute highest price and are willing to wait a long time then I don’t think you will do better than using the forum sponsor.

If you know the market and really need to offload a contract at price that will sell immediately, I certainly would try listing yourself before handing over 10%+ to a broker.

 

[Cyberc1978]

I've used the brokers before and I must admit that their price is too greedy for what they bring to the table.

Should I ever decide to sell again, I would try Facebook, redweek and then maybe the brokers.

My price with the brokers would be higher than facebook and redweek as I would need to take the extremely high commission from the brokers into account.

 

[Ruttangel]

Any international sellers reading this, please get some more advice as you will need to get a tax number (ITIN) from IRS for each named seller on the contract and this can take months.
Ask the broker before you list about FIRPTA and what the process will be like.

Then it’s up to you if you want to sell with a broker or not, some are only 8% which can still be a big number but depends on your level of confidence that you can sort someone to do closing including the FIRPTA withholding.

 

[Cyberc1978]

Any international sellers reading this, please get some more advice as you will need to get a tax number (ITIN) from IRS for each named seller on the contract and this can take months.
Ask the broker before you list about FIRPTA and what the process will be like.

Then it’s up to you if you want to sell with a broker or not, some are only 8% which can still be a big number but depends on your level of confidence that you can sort someone to do closing including the FIRPTA withholding.

I'm an international buyer and seller.

Its correct that as international buyer and seller you need an ITIN. As buyer you need it if you buy from an international seller, but not if the seller is from the U.S. You always need it if you are a seller.

HOWEVER, the broker might be able to inform you about this if not its not a big deal, as the Title Company would know for sure and can direct you to a FIRPTA agent. The Title company will hold back the 15% of the total amount and it would not be released before you can present the IRS waiver. The waiver would state if you need to pay all of the 15% or only part of it. The firtpa agent will help you obtaining an ITIN number, the broker wont.

Using a broker just because you are international is definitely the easiest but also more costly way to go about selling you ownership.

If you are international, owning multiple contract and have tried selling before you know whats up and up, so no need to still use a greedy broker.

I wish that the brokers would use a flat commission fee ie $500 or 3-5% whatever is the largest. The Brokers are ONLY matching seller and buyer with a contract the rest is the Title company

 

[Ruttangel]

I'm an international buyer and seller.

Its correct that as international buyer and seller you need an ITIN. As buyer you need it if you buy from an international seller, but not if the seller is from the U.S. You always need it if you are a seller.

HOWEVER, the broker might be able to inform you about this if not its not a big deal, as the Title Company would know for sure and can direct you to a FIRPTA agent. The Title company will hold back the 15% of the total amount and it would not be released before you can present the IRS waiver. The waiver would state if you need to pay all of the 15% or only part of it. The firtpa agent will help you obtaining an ITIN number, the broker wont.

Using a broker just because you are international is definitely the easiest but also more costly way to go about selling you ownership.

If you are international, owning multiple contract and have tried selling before you know whats up and up, so no need to still use a greedy broker.

I wish that the brokers would use a flat commission fee ie $500 or 3-5% whatever is the largest. The Brokers are ONLY matching seller and buyer with a contract the rest is the Title company

That’s great that you feel confident, as I said some won’t. I can see commission at 7% on one broker.

 

[DanCali]

That’s great that you feel confident, as I said some won’t. I can see commission at 7% on one broker.

I can't comment in the international aspects, but there are also some tax issues that complicate things for US residents selling a timeshare in Hawaii (Aulani).

The true impact of the commission probably depends on what (i.e., how much) you are selling. If you have a 100-point contract worth $14,000 then 7%, or $1000, may be something most can live with. If you're liquidating 1000 points and that's worth $140,000, that commission becomes $10,000 and it may be a lot harder to swallow that pill.

 

[rferrar1]

It’s too bad the aggregators don’t import those listings…. that I am aware of.

I'll look into adding it to mine Astro. Looks like there are only 4 listings on RedWeek now and I don't particularly trust the way they identify "banked points". Its also unclear if RedWeek identifies when points are missing/stripped. I'll definitely keep an eye on it and try to add them if we're able to trust the data.