30 Jan How Long Does it Take to Sell DVC?
Members sell DVC points for all kinds of reasons. It could be that vacation interests have changed and you just want out. In contrast, members may decide to sell Disney points in order to buy a new DVC contract at a different home resort. Whatever the case may be, DVC Resale Experts looks forward to assisting you through selling DVC timeshare and offering helpful insight when you need it during the resale DVC process. Our team member Nate put together a checklist that each client selling DVC points receives. This checklist is based on the following timeline and different parts that may affect how long it takes to sell a DVC contract. These checkpoints will help you be prepared and know where you are in the process along the way. So how long does it take to sell DVC? The general answer is 10 to 12 weeks. The answer varies depending on each contract and if there is a buyer immediately interested, how long it takes Disney to decide if they will exercise their ROFR privilege or not and other variable factors. This timeline is a great starting point, spells out what you’ll need to do and prepare as a seller and when DVC Resale Experts will be able to provide the most helpful insight.
When you’re set and ready to sell DVC membership the first step, after connecting with DVC Resale Experts about the value of your contract, is to sign a listing agreement.
Next you’ll need to send a Point Activity Summary to DVC Resale Experts. If at any time during your resale DVC process your available points change, please ensure your Expert is informed and that you provide an updated Point Activity Summary.
Week 3-7 (Estimated)
Around this time, most can anticipate receiving buyer offers, placing a counter offer, declining an offer and/or accepting an offer. This is a great time in the process to consult your Expert. They will often have insights to assist you regarding offers and numbers.
When you accept an offer you’ll confirm details of the sale with your Expert. An important step to note in this part of the process is that it’s necessary to provide your Expert with the current contact information, specifically the current physical address(es), of all Members on the deed. It’s also important to inform your Expert whether everyone on your membership can or cannot sign together, so they can let Disney and the title company know.
After accepting your offer you’ll first read carefully and then sign the Purchase Agreement at your earliest convenience.
Week 9-11 (Estimated)
Disney Vacation Club contracts state that Disney has the Right of First Refusal (ROFR). This means Disney has the first chance to buy resale DVC points back. After you’ve accepted an offer from a seller, Disney can say they would like to buy the membership at that price instead of the seller.
As soon as you and the buyer(s) sign, DVC Resale Experts sends the Purchase Agreement to Disney for the Right of First Refusal review. This process could take 3 to 5 weeks. ROFR is just part of the process for anyone who wants to sell dvc contract(s). You can learn more about it here in our ROFR DVC 2021 Annual Stats.
Then title company information will be provided to you by DVC Resale Experts.
Since the sale involves legal documents, a notary needs to be identified. You will need to have certain documents notarized after the Right of First Refusal process is complete. The requirements may vary by the state in which each Disney Vacation Club contract being sold is located.
Aulani resale DVC contracts have two additional things to consider. A title company contact will be provided to you to discuss required tax documentation with the state of Hawaii. Also, if desired, a HARPTA (Hawaii Real Property Tax Act) specialist can be chosen and contacted. We can provide recommendations for this.
Disney’s ROFR Decision Has Been Made
This can go one of two ways and we’ll outline both outcomes here.
In the event Disney exercises the Right of First Refusal and chooses to buy back your contract, then Disney will take over the closing process.
At this point you’ll need to ensure your Expert has all Members’ updated contact information, and that it matches what Disney Vacation Club Member Services has. You can expect to receive the closing document packet from Disney about 1 to 2 weeks prior to your estimated closing date to sell DVC timeshare.
The other scenario is that Disney waives the Right of First Refusal and the identified buyer proceeds to buy the contract. In this case, the title company will continue the closing process. Typically, you will receive closing documents within 10 to 14 days of Disney sharing their Right of First Refusal decision.
At this point, a notary appointment should be set, and 2 witnesses ready, as soon as possible. Witnesses should not be related to you but sometimes the notary can act as a witness. Please be sure to confirm with the notary in advance.
Closing Process – Week 10-12 (Estimated)
Closing documents will be sent to you by Disney or the title company, depending on the Right of First Refusal status. Wiring/disbursement instructions will be included in the closing documents sent by the title company or Disney, also depending on ROFR status, if applicable. Closing documents then need to be completed. Please take your time and be careful and thorough. This can expedite or slow down the closing process.
Your Sale is Finalized!
You’ll receive a confirmation email regarding the finalized sale. A wire, or check, will be sent to you from the title company or Disney, again depending on the ROFR status. Once Disney receives the confirmation of the finalized sale, they will begin the process of closing your contract and stopping any recurring payments. Please do not turn off payments until they have done so for you. They will reimburse any potential overpayment you’ve made once they finish closing your contract.DVC Resale Experts has even more information and things you’ll need to know about selling DVC resale in this How to Sell DVC Resale Guide. You can count on our team of professionals who are all former Disney Vacation Club Guides. DVC Resale Experts knows how to sell DVC points and provide pixie dusted service throughout the process. Selling DVC membership doesn’t have to be overwhelming. If you know it’s the right choice for you or even if you’re just curious about the value of your contract, take the next step. If you have specific questions about how to sell DVC membership, get in touch today for personalized answers and insight.