The DVC resale market has grown exponentially over the past few years, and it is now a very viable option for those interested in buying or selling their timeshare. However, in order to make sure that you’re making a sound investment, you must do your research before signing any contracts. This article will cover some of the best tips for buying and selling your DVC contract so that you can be confident about whichever decision you ultimately decide to make.
What Is A DVC Resale Contract?
A DVC resale contract is a legal agreement between two people in which both parties agree to sell their timeshare at the time of closing. Once both parties have agreed, they will receive their fair share of proceeds from the sale. The DVC resale contract eliminates the need for a real estate agent when buying or selling your timeshare.
The Benefits of A DVC Resale Contract
Using a DVC resale contract when selling or buying your timeshare, you agree to sell the property at the time of closing. With this agreement, both parties are agreeing upon a specific time at which they will sell. This makes it easier to buy or sell your timeshare without the need for an outside real estate agent. A DVC resale contract is also beneficial in that you will receive your share of proceeds from the sale in an agreed upon amount in the contract. Creating this document is fairly simple and can be done with just a little bit of planning and planning ahead.
Reasons for Buying and Selling Timeshares with A DVC Resale Contract
Buying and selling a timeshare with a DVC resale contract is a great option for many reasons. The contract allows buyers and sellers to avoid the high commission fees of using a real estate agent, often upwards of 7% or more. Reselling your timeshare with this form is also an easier process because both parties have predetermined and agreed upon the terms. Finally, the contract will ensure that both parties are satisfied with the outcome of the sale.
When you decide to sell your timeshare, you will want to make sure you get the best deal possible. You can get several offers, but you should wait for the best one to come along before choosing. The contract will state a specific time frame in which you must receive all offers. The seller can accept any offer within this timeframe; if they choose not to, they have to let you know.
The timeshare resale contract will give the option of using a valuation formula or mutual agreement method for the sales price of the timeshare. The valuation formula is set by adding up all points plus any other fees like closing costs. The mutual agreement method is simply by mutual agreement between both parties. If you attempt to make sure each party is satisfied with the contract; they may try and negotiate a lower price.
It’s important to consider how you want the sale of your timeshare contract to go. By signing a resale agreement, both parties agree that they will sell their timeshares at closing and in return, receive fair proceeds from the sale. We hope you will gain a good understanding of the DVC resale contract.