Making lowball offers to match what is showing up on Fidelity?

[Sandisw]

Yes, of course, but I would think a service that charges a flat fee to oversee the end-to-end process while allowing direct communication between buyers and sellers would be pretty popular. This would allow for a more free flowing marketplace as well. Selling your DVC contract is no more complicated than selling your car on Craigslist or Facebook. JMO

As someone who has sold several times. I went through a broker because I did not want to deal with a buyer directly. I wanted a middle man.

Same as a buyer…I liked having the middle man. I think since we are seeing some places where people try to sell on their own, it may becoming more popular.

 

[AstroBlasters]

I would recommend going in with the mindset that we are in a buyer’s market and that the majority of sellers have probably seen appreciation from where they purchased it and don’t want to pay another round of dues.

Make an offer that you are willing to pay and don’t worry about the feelings of a person who you will likely never communicate with again in your life. This is business, not personal.

If the seller/broker rejects the offer then politely move on to the next contract.

FWIW, I went with Fidelity for a recent contract and there was a slight hiccup on the paperwork that added 3 weeks of additional closing time. However, the price that I paid was so good that I am OK with it.

 

[Sparkle_Steffie]

I just did this!

I made an offer on NYE through Fidelity. 25 pts at BWV - partially stripped, with 16 pts remaining for 2023. Asking price was $130/pt, which we all know is already low. I offered $130/pt + $225 fee, with seller paying closing costs of just under $500.

As many have stated above me, realtors are required by law to present every offer unless otherwise instructed. However, mine did let me know that my bid was particularly low. I told her I understood, but that it was worth a try. We were both surprised when my offer was accepted within 48 hours. Happy New Year to me!

My total cost is under $3,500 (less pro-rated MF). I will keep everyone updated on whether I pass ROFR or not. Fingers crossed that the ROFR Monster stays slumbering for another month or so!!!

 

[RoseGold]

I've made offers that match Fidelity, and have actually said that. My thinking is that if the broker can show a competitive listing to the seller, it might show that it's a reasonable offer. I came back in the middle on one, so it worked.

Making an offer that matches Fidelity is never insulting. It might not match that particular contract or seller, but it isn't out of line or "lowball."

I've even gotten a listing from Fidelity below listing, so it's not like the Fidelity listings are even the "low ball."

 

[supersnoop]

Selling your DVC contract is no more complicated than selling your car on Craigslist or Facebook. JMO

Selling a car doesn't require a title search, drafting a deed, determining how to hold title for estate purposes, and processing right-of-first-refusal. It typically doesn't involve escrow, either. I think real estate is a little more complicated.

 

[RoseGold]

Selling a car doesn't require a title search, drafting a deed, determining how to hold title for estate purposes, and processing right-of-first-refusal. It typically doesn't involve escrow, either. I think real estate is a little more complicated.

The broker doesn't do any of that, the title company does.

 

[Bearval]

Right now it's a buyer's market, so if an offer is too low, the seller should ignore it or counter with what they feel is appropriate. The risk of it being too low is Disney is likely to take it, you're not going to get it anyway, and the seller accomplishes what they want by selling the contract!

I wouldn't worry that DVC would take a contract by making an offer that is " too low". DVC cannot take them all. AKL had recently two contracts go for $110.00 & $115.00 and these were small contracts of 100 & 160 points, I wouldn't offer more than $110.00 a point for an AKL contract right now if I was looking to buy and I would offer less than that if the contract was 200 points or more.

 

[thanxfornoticin]

I wouldn't worry that DVC would take a contract by making an offer that is " too low". DVC cannot take them all. AKL had recently two contracts go for $110.00 & $115.00 and these were small contracts of 100 & 160 points, I wouldn't offer more than $110.00 a point for an AKL contract right now if I was looking to buy and I would offer less than that if the contract was 200 points or more.

The OP was asking about making offers so low they might be insulting or out of line with other offers. Something like $95 per point (in your example) would be a contract that Disney would likely take, if the buyer accepted. That's all I was saying.

 

[tom1944]

The broker doesn't do any of that, the title company does.

I am fairly comfortable handling financial issues and I would not bother getting my own title company to do any of this

The actual savings would not be worth the effort in my opinion. Plus there would be some extra work

 

[pianomanzano]

I am fairly comfortable handling financial issues and I would not bother getting my own title company to do any of this

The actual savings would not be worth the effort in my opinion. Plus there would be some extra work

I could see forgoing a broker but not a title company, and it's not even about comfort in handing financial issues. I want that independent third party to ensure that myself and the other party are both satisfying their respective ends of the deal. I'm not just going to hand someone a five-figure check and hope that the seller does their end in finishing out a transaction.

 

[StarCruzer]

Because that specific broker may be crappy to deal with, as in one with a history of issues in accurately administering/brokering a sale, such as incorrect points, home resort, or existing reservations not disclosed. All of which have occurred within the past year with this broker.

Hmm, I bought with them back in 2018 and didn't have any issues. The only issue (which we avoided) was that the title company they wanted to use was going to charge us twice for titling two small points contracts. We asked them to get an estimate with a different company (Magic Vacation I think?) and the cost was half. Broker did seem grumpy when I wanted to ask for $3 less pp (lol) but seller accepted and it wasn't a big deal.

I guess under new management, bummer.

 

[SL6827]

Who cares who gets insulted? You are looking out for yourself. Go for it.

 

[CVG]

My new strategy is to offer just a little more than the site sponsor does for an Instant Sale.

 

[sndral]

I am fairly comfortable handling financial issues and I would not bother getting my own title company to do any of this

The actual savings would not be worth the effort in my opinion. Plus there would be some extra work

I’m comfortable w/ financial matters as well, but for a 6 figure transaction involving buyers and sellers located in different states or even different countries for deeded real estate in a state I don’t reside in I’m opting for a title company, escrow, & title insurance.
ATM DVC resale prices are trending down in tandem with the number of listings trending up. There’s nothing wrong with being aggressive in the declining market we are currently in, indeed, by the time you close your points may already be worth less than what you paid for them.
The brokers set prices in part based on what the most recent sales prices have been, but in a declining market those prices are likely too high, particularly w/ DVC backing off ROFR. Moreover, many resale contracts have been on the market for months, so the asking price when they were first listed may have been reasonable, but in a declining market those prices are no longer realistic.
These are business transactions, you offer what you think is a fair price. The fact that another broker has listings at your price is proof that your offer isn’t out of line.

 

[sethschroeder]

Because that specific broker may be crappy to deal with

Dealt with Fidelity with no issues. Just follow up with them, double check the paperwork, and move forward.

Every broker has had issues but you will hear about Fidelity more around here simply because they normally have the best deals and Disboards loves the best deal more often.

In the end any of the main DVC resellers are going to be fine just make sure you follow up, check documents, and if you want make sure you specify your title company (that does lots of the work anyways).

 

[Bearval]

The OP was asking about making offers so low they might be insulting or out of line with other offers. Something like $95 per point (in your example) would be a contract that Disney would likely take, if the buyer accepted. That's all I was saying.

I would offer a low ball number for anything I was interested in. The seller can counter, refuse to counter or accept. If they accept and DVC takes it , so be it. But right now DVC is passing on alot of contracts that in the past they would have taken and i think people are over paying in some cases right now.

 

[DonMacGregor]

I am fairly comfortable handling financial issues and I would not bother getting my own title company to do any of this

The actual savings would not be worth the effort in my opinion. Plus there would be some extra work

I think the point being made was that Fidelity doesn't provide any greater service for their "service fee" than any other broker. Someone up thread mentioned that selling a DVC contract is no more complex than selling a used car, to which someone else listed all of the extra steps required in a real estate sale, but none of those extra steps are performed by the selling agent (hence the post by @RoseGold that you responded to).

 

[pianomanzano]

Dealt with Fidelity with no issues. Just follow up with them, double check the paperwork, and move forward.

Every broker has had issues but you will hear about Fidelity more around here simply because they normally have the best deals and Disboards loves the best deal more often.

In the end any of the main DVC resellers are going to be fine just make sure you follow up, check documents, and if you want make sure you specify your title company (that does lots of the work anyways).

I'm sure 90+% of their transactions go through with no issues. But it's not even about double checking documents and some issues reported over the past year were out of the buyer's control. Once those issues were identified, Fidelity did was easiest or in their best interest and went radio silent and went directly to DVC if there was push back to what they wanted. No deal is worth that aggrevation, imo. I've found great deals on par with Fidelity's listings on the board sponsor as well as two brokers that aren't allowed be named here and I'll continue to avoid Fidelity going forward.

 

[TinkB278]

I wouldn't worry that DVC would take a contract by making an offer that is " too low". DVC cannot take them all. AKL had recently two contracts go for $110.00 & $115.00 and these were small contracts of 100 & 160 points, I wouldn't offer more than $110.00 a point for an AKL contract right now if I was looking to buy and I would offer less than that if the contract was 200 points or more.

Do you think offering $110 on a 50 point contract is reasonable? Dvc resale market has some listed for over $150/point, it’s crazy!

 

[davidhr]

Do you think offering $110 on a 50 point contract is reasonable? Dvc resale market has some listed for over $150/point, it’s crazy!

I sold a 50 points AKL contract for $150 two weeks ago. Small contracts still have a healthy demand and relatively low supply.