Rejected Offers Thread

[DonMacGregor]

Here's a good one for you all:

There is a contract listed on a site (it is blocked, so I won't tell you the resort, points amount, UY, or the list price). The offer I made was at 90% of the list price, which is in line with the current market for that resort, contract size and points available, and the listing had been up for 21 days. The seller came back with a counter-offer that dropped their number by a whopping 2.5% and I told them to (politely) pound sand. I told the agent that they'd need to come down a good bit closer to meeting me in the middle, which they rejected. I wished the agent good luck.

I now see that the contract list price has actually been INCREASED by a couple of dollars per point, and it's now been sitting for a month and a half. Oh, and there are no points until 2025. I emailed the agent out of curiosity to ask if there was some mistake, and she said they had raised the price against her counsel, in order to "negotiate" back down to their original asking price (which, again, was too high to begin with).

Some real geniuses out there.

 

[ClaraOswald]

My curiosity is killing me now.

 

[JackosinDIS]

Here's a good one for you all:

There is a contract listed on a site (it is blocked, so I won't tell you the resort, points amount, UY, or the list price). The offer I made was at 90% of the list price, which is in line with the current market for that resort, contract size and points available, and the listing had been up for 21 days. The seller came back with a counter-offer that dropped their number by a whopping 2.5% and I told them to (politely) pound sand. I told the agent that they'd need to come down a good bit closer to meeting me in the middle, which they rejected. I wished the agent good luck.

I now see that the contract list price has actually been INCREASED by a couple of dollars per point, and it's now been sitting for a month and a half. Oh, and there are no points until 2025. I emailed the agent out of curiosity to ask if there was some mistake, and she said they had raised the price against her counsel, in order to "negotiate" back down to their original asking price (which, again, was too high to begin with).

Some real geniuses out there.

Business mind of the year

I find it interesting on www.dvcsearch.com where you can see the history of each listing and when the prices were reduced. Rarely see them going up (surprising eh?!)

 

[AstroBlasters]

Business mind of the year

I find it interesting on www.dvcsearch.com where you can see the history of each listing and when the prices were reduced. Rarely see them going up (surprising eh?!)

Reminds me of the large overpriced stripped AUL-S contracts where the response from the broker was that “the seller will not sell below $x because they will just rent the points”.

Ok….

<Internal monologue> Well then they won’t end up selling the points because no one should pay that much for a large stripped contract… subsidized dues isn’t shorthand for “dipped in gold” and I’m not paying a multiple of what you think you can rent it for when I am the one taking the risk with the upfront capital outlay and the ongoing dues obligation….

 

[HyperspaceMountainPilot]

I now see that the contract list price has actually been INCREASED by a couple of dollars per point, and it's now been sitting for a month and a half. Oh, and there are no points until 2025. I emailed the agent out of curiosity to ask if there was some mistake, and she said they had raised the price against her counsel, in order to "negotiate" back down to their original asking price (which, again, was too high to begin with).

Some real geniuses out there.

This is the seller equivalent (inverse?) of a "low ball" offer-- hoping they can just find that one desperate buyer that wants a stripped contract significantly above market value.

 

[HyperspaceMountainPilot]

Ah. I forgot about that.

I assume you have to pay dues on the 2023 points?

I don't think so. I believe you pay pro-rated dues on the current calendar year, but I'm not entirely certain exactly how it is calculated.

 

[Chili327]

Here's a good one for you all:

There is a contract listed on a site (it is blocked, so I won't tell you the resort, points amount, UY, or the list price). The offer I made was at 90% of the list price, which is in line with the current market for that resort, contract size and points available, and the listing had been up for 21 days. The seller came back with a counter-offer that dropped their number by a whopping 2.5% and I told them to (politely) pound sand. I told the agent that they'd need to come down a good bit closer to meeting me in the middle, which they rejected. I wished the agent good luck.

I now see that the contract list price has actually been INCREASED by a couple of dollars per point, and it's now been sitting for a month and a half. Oh, and there are no points until 2025. I emailed the agent out of curiosity to ask if there was some mistake, and she said they had raised the price against her counsel, in order to "negotiate" back down to their original asking price (which, again, was too high to begin with).

Some real geniuses out there.

Technically, It could payoff for them, but you may also have to wait a long time for that perfect buyer… and for the market to dry up a little.

 

[CarolynFH]

Ah. I forgot about that.

I assume you have to pay dues on the 2023 points?

I don't think so. I believe you pay pro-rated dues on the current calendar year, but I'm not entirely certain exactly how it is calculated.

@HyperspaceMountainPilot is correct. Dues are assessed and paid on a calendar year basis, to cover that calendar year’s operations and maintenance. UY is irrelevant. When buying direct, the buyer pays dues prorated from the date they sign the contract, so if for example they sign on April 1, nine months are left in the year, and they’ll pay 9/12 of the dues assessed for that year.

 

[DonMacGregor]

Technically, It could payoff for them, but you may also have to wait a long time for that perfect buyer… and for the market to dry up a little.

They raised the price of the contract a whopping $50.00.

 

[AstroBlasters]

They raised the price of the contract a whopping $50.00.

Humans are fascinating…

 

[Chili327]

They raised the price of the contract a whopping $50.00.

Per Point!!??

 

[DonMacGregor]

Per Point!!??

$50 TOTAL. They have literally been sitting on a 25 point contract for a month and a half, refusing to budge off their original list price, and have now decided to RAISE it $2 per point.

 

[Bearval]

Fun new rejected offer twist— I put in an offer on a 100 pt VGC contract at $220 today, assuming I would either get no counter or a counter around $250, and almost immediately heard back from the broker that there was another offer and that I should submit a best and final offer (recommended above $267/pt) because he and the other broker would meet Sunday to decide which to present to the seller.

Um, has anybody else been told they are bidding against someone else and to submit best and final? Seems crazy to me for DVC contracts. Maybe it’s not that different than saying “we already have another offer that is materially higher than yours, do you want to raise your offer before the seller decides to accept the other offer?” but I actually laughed out loud reading the reply.

I wrote back that while there may be some buyers willing to pay over $250 for a resale contract, we’re content to wait for direct points with an extra year of points at $310 if we’re paying in the mid 200s anyway. I received a polite response saying they totally understood.

No, but I once had a broker emailed me back telling me to contact them so they can "help" me make a proper offer. I offered $122pp for a BLT contract that I believe was listed for $145pp. Seller accepted with no counter, broker responded back that she was "shocked" when they accepted.

 

[jolynne28]

No, but I once had a broker emailed me back telling me to contact them so they can "help" me make a proper offer. I offered $122pp for a BLT contract that I believe was listed for $145pp. Seller accepted with no counter, broker responded back that she was "shocked" when they accepted.

While I like the broker I worked with for our first resale purchase, I also got the line that she was “shocked” they accepted and she’d never had an offer that low accepted at that resort. Which I knew was a lie b/c I’d already talked to someone on here about their purchase from her at the end of last year that beat my deal.

I know it’s sales tactics but I don’t particularly like it. I will be making future offers with other brokers as well.

 

[LittleBitGoofy]

I've purchased two resale contracts and was lucky enough to have our initial offers accepted on both. Different brokers. Both also gave me the equivalent "I am shocked" and even one gave a "never saw one that low". Total nonsense since I arrived at those numbers after reading the threads here. Fair offers at market supported numbers. Brokers can be something...

I also enjoy the monthly reports from the board sponsors showing average sales price at X and then a string of their contracts just sitting at X + $15/pp. Not talking small contracts either.

 

[Bearval]

While I like the broker I worked with for our first resale purchase, I also got the line that she was “shocked” they accepted and she’d never had an offer that low accepted at that resort. Which I knew was a lie b/c I’d already talked to someone on here about their purchase from her at the end of last year that beat my deal.

I know it’s sales tactics but I don’t particularly like it. I will be making future offers with other brokers as well.

I hear you, it was a little condescending for her to imply my offer was ridiculously too low. At the time I believe my purchase was the lowest but it was beaten a few of times a couple of weeks after it was accepted.

 

[jolynne28]

I hear you, it was a little condescending for her to imply my offer was ridiculously too low. At the time I believe my purchase was the lowest but it was beaten a few of times a couple of weeks after it was accepted.

You know it’s funny, now that I think back about my offer, I remember actually saying something to the effect of, “I know these numbers are lower than you’d like to see”. So clearly during our communications I felt the need to almost apologize for making a lower offer. Again, I really like her and she was very friendly, helpful and communicative. But I need to do a better job of being firm and direct and not feeling bad about my offers.

 

[DonMacGregor]

I know it’s sales tactics but I don’t particularly like it. I will be making future offers with other brokers as well.

As someone who’s purchased a fair amount of actual real estate during my lifetime, I tend to look at resale timeshare brokers more in the same vein as how I look at the guy who cleans the pool and the guys who mow my lawn.

I know that sounds kinda rude and douchy, but they are no more than facilitators of a transaction that requires little more than their license to perform. Everything is done with a few keystrokes in one of a dozen commercially available software suites and a couple of emails. There's no property showing appointments, no dealing with another agent representing the buyer/seller, no open houses, no required product knowledge across a wide variety of property types (single family home versus condo or townhome, etc.), no knowledge of diverse neighborhoods, or comps (beyond the same dozen Disney resorts), nothing.

People just find them on the web, send them their information, and it gets loaded to a site by someone in about 2 minutes. You email your offer, they forward it, it gets accepted or it doesn't.

 

[Bearval]

You know it’s funny, now that I think back about my offer, I remember actually saying something to the effect of, “I know these numbers are lower than you’d like to see”. So clearly during our communications I felt the need to almost apologize for making a lower offer. Again, I really like her and she was very friendly, helpful and communicative. But I need to do a better job of being firm and direct and not feeling bad about my offers.

Always remember, it is not your "job" to make someone whole for their financial decision no matter what the item is you are purchasing. It is your job to get it for the best possible price. They have three options, they can accept, they can counter and they can decline and hope they get a better offer. I truly believe when the broker tells you their client was insulted by "your" low offer that is because all they are getting are offers below their asking price and they are getting frustrated.

 

[AstroBlasters]

Always remember, it is not your "job" to make someone whole for their financial decision no matter what the item is you are purchasing. It is your job to get it for the best possible price. They have three options, they can accept, they can counter and they can decline and hope they get a better offer. I truly believe when the broker tells you their client was insulted by "your" low offer that is because all they are getting are offers below their asking price and they are getting frustrated.

The difference between joy and misery in life is expectations.