How do I determine the value of my contract?
To determine the value of your DVC Membership, we suggest starting with the Resale Value Calculator. This tool will assist you in coming up with an accurate value by having you insert the number of points on your contract and how many points you currently have in your account. These questions, along with which is your Home Resort, will help estimate the value of your Membership.
The price a Member lists their contract for, is entirely up to the Member. This tool is on our site to assist you in determining the relevant prices of today on the resale market.
We keep our calculator as up to date as possible, as values change from time to time. Just call or email us if you have any questions…..we’re here to help in any way we can!
Are there any upfront fees when selling my membership?
Our company doesn’t charge any upfront fees to sell your Membership. In fact, any resale company who does, may not have your best interests in mind. We work hard to market and ultimately sell the contracts we have listed on our site. Only after the contract has closed do we get paid.
How much are Closing Costs and what is included?
Typically, closing costs average between $400 and $700 based on the purchase price, but this is almost always paid by the buyer. This fee is what the title company charges for completing a title search, providing the buyer with title insurance and includes all of the document preparation and recording fees with the county where your property is based. Closing costs will differ from state to state. Florida, California, South Carolina and Hawaii all have different laws to abide by and the fees differ as well. We will try to give you a more exact amount based on which contract you purchase.
After an offer is accepted how long does it take to close?
Once a contract has been properly signed and the deposit received, closing typically takes place between 60-75 days. We will keep in touch along the way, so that you know where we are in the process. The paperwork, once executed by both buyer and seller, then goes to Disney. They have 30 days to decide if they would like to buy it back for that agreed upon price, or allow the sale to go through. This is called Right of First Refusal (ROFR). This has little bearing on the seller, due to the fact the seller will receive the agreed upon price, regardless of who is purchasing the contract. The buyer, however, will need to find another contract to purchase.
Once the contract is sold, how much will I receive at closing?
You will receive the sale proceeds less a $170 Right of First Refusal and Estoppel Fee (charged by Disney). Also, the seller is responsible to pay the commission on the sale, of 8%.
Any outstanding liens, mortgages, maintenance fees or late fees that may have been assessed to your property, will also be deducted. Closing costs are typically paid by the buyer. Please note, foreign sellers will most likely also have to pay a 10% FIRPTA tax.
Before you agree to a price with a buyer, you can view (and change) your “My Membership” page. You can adjust the asking price and see how this will effect the estimated net to seller. This will help give you a clear idea of how much you will receive at closing. And of course, call us at anytime if you have any questions!
Visit the My Membership for an estimate of how much you will receive after closing. Link to the seller My Membership page https://dvcsales.com/user-panel/?page=my-membership
Are Resale prices negotiable?
What is Right of First Refusal?
The purpose of DVC’s ROFR (Right of First Refusal) is to control the value of their property so that it remains in step with current values. After there is an accepted offer and a signed contract, with a good faith deposit in escrow (with a licensed and bonded title company), we immediately forward all contracts to the Disney Review Board. The criteria DVC uses for ROFR is not public information, but one important factor for exercising (stepping in as buyer) the ROFR would be if DVC feels the selling price, including who pays closing costs, maintenance fees and taxes, is below the target price they have established. If DVC exercises their Right of First Refusal (ROFR) and steps in as the Buyer, the deposit will be refunded in full to the buyer.
What if a seller resides outside of the United States?
The licensed and insured attorney owned Title Company can complete closings for sellers worldwide.