Are you curious to know what you can do with your Disney timeshare?
Owning a Disney Vacation Club timeshare allows you and your family to take a vacation whenever you want. The club often allows you to choose from different resorts, too. You’ll never run out of vacation options so long as you have a membership in your pockets.
What if you’re no longer interested in keeping your timeshare, though? If you inspect your DVC contract, you’ll find out that selling your timeshare is always an option. Now is a good time to sell, too, since Disney shares are seeing new highs nowadays.
Read what’s below to learn everything involved in Disney Vacation Club resale. Give yourself the best chance of selling your timeshare as fast as possible!
When selling your Disney World timeshare, there are different paths you can take. You can always sell your timeshare through platforms like eBay or Craigslist. By doing so, you have more control over the price of your listing.
Most people sell their timeshares alone because it helps them save money. Selling through an agent means you need to pay a commission fee. This often costs 7% to 10% of the sale.
However, you often won’t sell your timeshare for the price that you’re looking for. The audience doesn’t care about the market’s resale price on these platforms. You’ll end up cutting down the asking price to meet their demands if you want to sell quickly.
If you’re selling with the help of licensed agents, though, this won’t be a problem. They will work with you to make sure you sell your timeshare and get what you expect. Such parties also provide helpful info. for DVC sellers, like the current Disney timeshare cost, to help you along with the process.
How Long Does the Process Take?
The length of the process varies depending on how you market your listing. As mentioned above, working with a licensed agent will help you speed up the process. The second phase of selling begins once you find a buyer.
If you’re selling alone, this phase takes longer than it should. You’ll need to draw up contracts, verify the buyer’s financial status, and look for a lawyer to help you through the other legal steps in selling. These can cause this process to take months, if not years, to complete.
With an agent’s help, though, you can complete this phase in 30 days. Doing this fast is important because you still need to pay the timeshare’s fees as you’re looking for a buyer.
Once your agent finds you a buyer, they’ll draw up a contract to present to Disney Vacation Club. Now, it’s up to DVC to decide how the sale will go. They have the right of first refusal, after all.
What Is the Right of First Refusal?
Disney Vacation Club holds the right of first refusal regarding any DVC membership sale. It’s a part of the contract you sign when becoming a member, so there’s no way to bypass this. The ROFR gives them the right to purchase your timeshare off of you first before any other buyer.
Disney can exercise the ROFR as soon as you present them with your contract for sale. They go over a few things, mainly the date of closing, sales price, and the timeshare’s dues if any remain.
If they think the price is too low for the timeshare, they will buy it back from you instead. They’ll buy back all the points you have remaining in your membership, as well.
If Disney thinks the price is high enough, they’ll wave their right and allow the sale to go through. From here, you and your buyer will sign the contract and complete the sale. The distribution of the fees will follow, making sure everyone gets their dues.
Disney has the ROFR in place to make sure no Disney Vacation Club resale causes the market value of their timeshares to drop. This way, sellers get their money’s worth and Disney’s memberships remain exclusive.
Rare are the cases when Disney will close a contract completely without buying the timeshare. Often, these happen because you have outstanding dues remaining with your membership.
First-time DVC sellers often encounter this as they present their contract for sale to Disney. As mentioned above, you still need to make payments even as you put your timeshare up for sale. Most don’t know this and need to catch up on any fees they have to push the sale forward. You may want to consult a timeshare cancellation company to speed up the process.
Any outstanding loan also prevents you from selling your timeshare. These loans often come from points borrowed to rent a specific room at another resort.
You and your agent can request a Vacation Points Activity Statement from Disney. This can tell you how many points you have on your membership. It also states whether you have any loaned points.
Can You Still Use Your Deposited RCI Weeks After the Sale?
Let’s say you closed the sale but remembered that you have something booked for next month. Could you still attend it even after the sale?
No, you can’t. The sale will cancel all pending reservations, even those made through the RCI Exchange Program. You’ll need to hold your sale or use any booked reservation before selling your timeshare.
You’re also free to use your points before a buyer asks about your listing. Doing this reduces your timeshare’s value, though. Points are valuable in the DVC market and can push your asking price higher.
There comes a time when the perks of the Disney Vacation Club aren’t enough to keep you around. When this happens, you can still get something out of your membership by selling your Disney timeshare. Learn all there is to know about selling your Disney Club timeshare and find a buyer today!
Do you want to learn more about real estate? You may be on the lookout for more information about the market after selling your timeshare. Check out more of our guides and posts to learn something new today!
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