Not sure if I should just take the guaranteed sale price

[ILoveMyDVC]

I have two contracts up for sale. They are priced in the middle range per the sales person's recommendation. With all the chaos happening, I am wondering if I just take the guaranteed buy price and be done before general panic sets in an nobody has jobs or money to buy resale points. I'd still have 1400 after the sale and to be honest the dues are way out of hand. Thinking about the folks that rent to pay dues - that game is over. New dues are ~11.00/pt at OKA and rentals (third party) are 14.00.

What's the group prediction on resale princes?

 

[FreeTime]

I think it is unlikely that “nobody will have jobs” but this is a luxury that is economy dependent. If you want to just be done with it, then just go with the gty price. Only you can decide what option makes the most sense for your situation.

 

[atthebeachclub]

Why don’t you just drop the price a bit first? It’s too soon to panic unless the contract is really undesirable.

 

[ILoveMyDVC]

Why don’t you just drop the price a bit first? It’s too soon to panic unless the contract is really undesirable.

It's OKW 2057. I used the board's sponsor. I was going lower but he said it was too low. I'm not panicking - I want it sold by end of year because I am buying a new home. My concern is that the price the broker will pay today may drop significantly as the economy tanks.

 

[atthebeachclub]

Is it a large contract? Tell him what you told us; they will accommodate you in dropping price if that is what you want.

 

[Genie+]

Under those considerations I’d likely try listing at $10-12pp higher than Instant Sale price. See what kind of interest you get between now to Friday and judge from that.

 

[VGCgroupie]

That is like the real estate open door for DVC. If you think you need to do it out of panic/desperation do it with the understanding that you will likely be leaving a lot of money on the table.

 

[karen4546]

I have two contracts up for sale. They are priced in the middle range per the sales person's recommendation. With all the chaos happening, I am wondering if I just take the guaranteed buy price and be done before general panic sets in an nobody has jobs or money to buy resale points. I'd still have 1400 after the sale and to be honest the dues are way out of hand. Thinking about the folks that rent to pay dues - that game is over. New dues are ~11.00/pt at OKA and rentals (third party) are 14.00.

What's the group prediction on resale princes?

1. General Panic: Are you referring to any specific situation or are you thinking your own personal circumstances (whether economically or politically)?
2. "Nobody has jobs or money": This is an exaggeration but if people don't have jobs or money, then they are not buying DVC resale or direct.

But, I for one would not buy a resale prince

 

[SG131]

It's OKW 2057. I used the board's sponsor. I was going lower but he said it was too low. I'm not panicking - I want it sold by end of year because I am buying a new home. My concern is that the price the broker will pay today may drop significantly as the economy tanks.

If I were you, I would insist on lowering the price and see what it gets you since it would still be more than the buyout price. If they won't listen, take your contract elsewhere. I expect a major slowdown in the resale market, so I think you're being smart by staying ahead of it if you know you want to sell soon.

 

[Judique]

I have two contracts up for sale. They are priced in the middle range per the sales person's recommendation. With all the chaos happening, I am wondering if I just take the guaranteed buy price and be done before general panic sets in an nobody has jobs or money to buy resale points. I'd still have 1400 after the sale and to be honest the dues are way out of hand. Thinking about the folks that rent to pay dues - that game is over. New dues are ~11.00/pt at OKA and rentals (third party) are 14.00.

What's the group prediction on resale princes?

What sizes are these 2 contracts? And would you be breaking even with the guaranteed price?

 

[ClaraOswald]

1. General Panic: Are you referring to any specific situation or are you thinking your own personal circumstances (whether economically or politically)?
2. "Nobody has jobs or money": This is an exaggeration but if people don't have jobs or money, then they are not buying DVC resale or direct.

But, I for one would not buy a resale prince

I think the second point is their reason for concern. DVC is a luxury and will be the first thing to go if the economy isn't good. So there won't be as many buyers out there for contracts people might want to dump.

I think it's too soon to know what will happen in the near future as things are all over the place right now.

 

[Cfabar1]

If owning the contract doesn't make you feel comfortable anymore then get rid of it. Tell the broker you want to sell for a lower price.

That said, I sold a VB contract last year. I told my broker I wanted it sold very quickly - not for any other reason than I didn't see the point in letting a VB contract linger on the market for months and months - I felt the prices would only go down (which they did).

He suggested a price way higher than I would have thought would sell, but I followed his advice. The contract sold within a week at that price.

And it was with the same firm you are referencing.

 

[AstroBlasters]

It's OKW 2057. I used the board's sponsor. I was going lower but he said it was too low. I'm not panicking - I want it sold by end of year because I am buying a new home. My concern is that the price the broker will pay today may drop significantly as the economy tanks.

Go to https://www.dvcforless.com/listings?resorts=Old+Key+West

Find your listing and see what it would take to get the price into the 5 star listing range.

Drop it to there and then give it a couple weeks to see what happens.

That might even put it into the Certified Hot Deal category.

 

[Cfabar1]

One of the challenges OKW 2057 has is the price premium for the extended contract, coupled with high dues from being the oldest resort (longest time to compound) not helped by a sprawling campus...

That said, the points chart is fantastic, and for many folks it is truly a special and great resort. It is one of my favorite properties... So peaceful and beautiful.