Reach out to DVC Resale Market. They are committed to getting the most bang for your buck.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.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.
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.
It’s too bad the aggregators don’t import those listings…. that I am aware of.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.
I'm an international buyer and seller.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.
That’s great that you feel confident, as I said some won’t. I can see commission at 7% on one broker.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.
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.It’s too bad the aggregators don’t import those listings…. that I am aware of.