Prep Question and Walk me Through Selling

[Song of the South]

We've decided to sell on of our contracts. It's been a great almost decade but last year's shenanigans and some rumors this year have us thinking twice.

Prep question: Can I transfer points from one of my contracts to the other even though they are in the same membership?

We have bought resale but haven't sold. What is the step-by-step process? I have the contact information for this board's sponsor, 2 companies that we bought from, and a fourth company that also sells. Other than preference the commission is the same across companies as far as I know. Am I wrong? I am going to post to my FB page that we are selling but have zero belief anyone I know will desire to buy our contract.

What happens after we choose a sales company?

Thanks!

SotS

 

[Sandisw]

Points can be transferred between memberships, not contracts. if what you own is the same UY..same membership, then all points remain as they are,

Selling is pretty easy. Just contact the broker, decide on a price, and it goes up. Any reservations need to be completed or canceled before the sale.

The company will ask for an accounting of what is in your account to ensure it is advertised correctly.

Pretty much it until you agree to a contract, As a seller, you will have to have your closing documents notarized.

 

[Deb & Bill]

We just sold a HGVC contract and our bank offered free notary. They just couldn't be witnesses. So we grabbed two bank customers who offered to be a witness for us.

 

[Sandisw]

We just sold a HGVC contract and our bank offered free notary. They just couldn't be witnesses. So we grabbed two bank customers who offered to be a witness for us.

For the Florida ones, the notorary can act as one of the two witnesses as well as notarize, so we just needed to have one other bank employee come in.

I don’t know where you are, but in NYS most notarize for free, especially since you can’t refuse to do it if someone says they can’t afford to pay.

 

[Deb & Bill]

For the Florida ones, the notorary can act as one of the two witnesses as well as notarize, so we just needed to have one other bank employee come in.

I don’t know where you are, but in NYS most notarize for free, especially since you can’t refuse to do it if someone says they can’t afford to pay.

I'm in Florida. I think it was a Chase decision about the notary not witnessing.

 

[Sandisw]

I'm in Florida. I think it was a Chase decision about the notary not witnessing.

Oh okay. Just wanted to share my experience with OP!

 

[Matty B13]

Also, can't close until all reservations are complete on the contract. Sometimes this causes a delay in the closing.

 

[Best Aunt]

Around here, if you have an account at a bank, the bank will notarize for free -- but not every bank employee is a notary. So if you will be going out of your way to get to the bank, you would want to call first to make sure someone will be there who can notarize documents.

(I don't know what happens if you do not have an account at a bank.)

As for the step by step process, it's been several years since I sold, but the process was:
- Call the company. I used the TImeshare Store.
- Company emails you paperwork to sign and send back: Listing Agreement, Listing Info Disclosure discussing seller's costs, Release Addendum giving DVC permission to talk to them, Important Notice about company's honest dealings, form about commissions & ROFR.
- Company requests a Points Activity Statement from DVC, takes about 48 hours.
- Company emails you that they got the Points Activity Statement and tells you to call them.
- You call the company and set a price.
- In my case, Company posted listing on its website at 12:39 pm.
- In my case, Company called me at 4:10 pm saying they had sold it at full asking price.
- I did a happy dance because I used the Timeshare Store and they get a lot of people looking at their website listings, so it sold fast.
- Company emails you more documents to sign.
- Contract gets submitted to DVC for ROFR.
- Title company emails you papers to sign.
- Company emails you that DVC waived ROFR.
- Title company emails you more papers to sign. These include the one that needs to be notarized. These documents must be sent back. I used USPS Express mail. I believe that prior to this, nothing needed to be notarized and everything could be either faxed back or scanned and emailed back.

 

[jp97]

Around here, if you have an account at a bank, the bank will notarize for free -- but not every bank employee is a notary. So if you will be going out of your way to get to the bank, you would want to call first to make sure someone will be there who can notarize documents.

(I don't know what happens if you do not have an account at a bank.)

As for the step by step process, it's been several years since I sold, but the process was:
- Call the company. I used the TImeshare Store.
- Company emails you paperwork to sign and send back: Listing Agreement, Listing Info Disclosure discussing seller's costs, Release Addendum giving DVC permission to talk to them, Important Notice about company's honest dealings, form about commissions & ROFR.
- Company requests a Points Activity Statement from DVC, takes about 48 hours.
- Company emails you that they got the Points Activity Statement and tells you to call them.
- You call the company and set a price.
- In my case, Company posted listing on its website at 12:39 pm.
- In my case, Company called me at 4:10 pm saying they had sold it at full asking price.
- I did a happy dance because I used the Timeshare Store and they get a lot of people looking at their website listings, so it sold fast.
- Company emails you more documents to sign.
- Contract gets submitted to DVC for ROFR.
- Title company emails you papers to sign.
- Company emails you that DVC waived ROFR.
- Title company emails you more papers to sign. These include the one that needs to be notarized. These documents must be sent back. I used USPS Express mail. I believe that prior to this, nothing needed to be notarized and everything could be either faxed back or scanned and emailed back.

If you don't mind answering:
How long after the closing date did you receive the proceeds?
Did you do wire transfer or did they mail you a check?