Backing out of a DVC Resale

[Itsred]

If there is any way to swing it, I would do it. That is a very good price for that size BLT contract. You will be able to turn around and sell it for more in a year when the market recovers if you have to.

Excitement led to frustration and in time I believe it will return to excitement and more years of vacations. I doubt I would sell unless absolutely necessary.

 

[Dracula]

Excitement led to frustration and in time I believe it will return to excitement and more years of vacations. I doubt I would sell unless absolutely necessary.

You made a good investment. I think BLT is the best resort at WDW, and you got it for $132 per point instead of $225 going direct. Sure, the prices may go down $10-20 in the next couple of years, and then they will recover - just like any stock, but in the meanwhile you will have the opportunity to go on vacation. A few months ago people were paying $140-150 per point at BLT... It is difficult to time the market, and in these days where so many people lost their jobs, lost a good share of their retirement savings, lost their reservations with David, you really shouldn’t agonize about buying property and maybe losing $1000-2000. All the best, and enjoy your new home!

 

[cm8]

If your sale does in fact go through, Then we can’t wait to welcome you home! We own at BLT and VGF and we love them both!

I’m sorry your broker agent hasn’t communicated better with you. Seems to be a lot of that at late. Maybe next time when you buy( You will, I promise you) Use someone else with better communication skills to meet your needs!

Good Luck!

 

[Itsred]

Update: After numerous emails and attempted phone calls. "Our agent" admitted that the fees quoted for backing out were incorrect:

Deposit $1,000.00
Commission $ 792.00
Admin Fee $1965.00

Should have been:

Deposit $1,000.00
Commission $ 792.00
Admin Fee $195.00

Still haven't made a final decision as we are in our extension, but I wanted to update anyone for future reference.

 

[E2ME2]

Update: After numerous emails and attempted phone calls. "Our agent" admitted that the fees quoted for backing out were incorrect:

Deposit $1,000.00
Commission $ 792.00
Admin Fee $1965.00

Should have been:

Deposit $1,000.00
Commission $ 792.00
Admin Fee $195.00

Still haven't made a final decision as we are in our extension, but I wanted to update anyone for future reference.

Itsred;
IIRC this was on a 100Pt Contract? That would cost you almost $20/PT for nada !
You'd have to score a contract at $20 lower next time, to recoup that.
Do you think you will return to the market after this COVID-Crap is behind us ??
By then, prices may push back up a little. I know its a hard decision, & I wish you all the best.
ET

 

[KAT4DISNEY]

Update: After numerous emails and attempted phone calls. "Our agent" admitted that the fees quoted for backing out were incorrect:

Deposit $1,000.00
Commission $ 792.00
Admin Fee $1965.00

Should have been:

Deposit $1,000.00
Commission $ 792.00
Admin Fee $195.00

Still haven't made a final decision as we are in our extension, but I wanted to update anyone for future reference.

FWIW when you look at the numbers you would be paying the commission on the sale that normally is paid by the seller. If you move forward with your purchase and then do decide you need to sell you could sell for the low 120's and not be in too different of a spot than cancelling now. Then the decision is if you do feel comfortable enough with your financial status right now that you'd be able to risk the price being lower in a year or two if you decided that you did indeed need to sell.

 

[ILoveMyDVC]

I had two buyers back out of a small contract that I had offered for sale after ROFR. They lost their deposit (I got half of both).

What happens if it is within the 10 days (of siginging the contract)

 

[princesscinderella]

What happens if it is befoe the 10 days (of siginging the contract)

You get your deposit back no penalty. When you buy a house in Florida you typically have a 10 day inspection period to see if everything is in working order to your satisfaction. You could decide you don’t like the way the front door squeaks when it opens you get out of the contract without penalty.