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View Full Version : Big Bummer!!!


minniesfriend
02-20-2003, 10:33 AM
Disney just bo't our points!!! We are so disappointed!! We were all set to go! Had plans set and were 2 weeks from closing on a resale. The realtor said she didn't know why Disney decided to do this, but evidently, there were several others (about a dozen) that Disney bo't back. We are really sad! We are going to keep looking, but what if it happens again?:confused:

CarolMN
02-20-2003, 10:39 AM
Sorry you lost your resale.

If you don't mind sharing some details, how many points were you trying to buy, what was the price per point and at what resort?

Thanks.

yasuern
02-20-2003, 10:43 AM
Minniesfriend,
Sorry disney bought your resale with its ROFR option - Just curious - How much per point did you offer and which resort was it? Have been toying with purchasing another resale just wondering what the buy back price is?
Thanks
Sue

zurgswife
02-20-2003, 10:50 AM
This seems to more of a regular thing for Disney to do now....They have realized what a market is out there for resales....

zulaya
02-20-2003, 01:16 PM
A couple other posts mention that Disney has been buying anything under $72/point

minniesfriend
02-20-2003, 07:19 PM
No, I don't mind sharing the point info with you. $66 for 350 points.

Making reservations for the AKL tonite. We love it there and will be very happy. We're still disappointed tho. Maybe we'll try again.

CarolAnnC
02-20-2003, 08:08 PM
Looks like the days of getting resales for much lesser prices are gone. At least while Disney chooses to exercise their Right of First Refusal. They have obviously found that with wait lists of people wanting to buy points at their sold out resorts, it behooves them to make the purchase and then resell to their clients.

Disney50
02-20-2003, 09:11 PM
Minniesfriend,
I can relate, it is a bummer. They bought mine also. I decided not to put myself through the stress of waiting to see if they would exercise their ROFR on another re-sale, so I went direct and bought BCV.
Keep looking, I'm sure they won't buy back every offer put in front of them.

minniesfriend
02-21-2003, 03:25 PM
Disney 50 -

May I ask which property you were interested in purchasing prior to your recent purchase? Also how many points?

I forgot to post that we were trying to purchase BWV.

I told my husband last nite we should just go ahead and purchase thru Disney for the same reason you decided to do so - stress. But, he feels like we should try again.

I just called our realtor to ask if she's heard anything. It's her understanding that Disney is low on inventory at OKW and BWV so they are purchasing these resale properties. She said they had some kind of formula they used to determine which resales to purchase but that she had no idea what it was.


So, here we sit.......
:(

JOC
02-21-2003, 03:50 PM
Minniesfriend,
How long did it take for you to hear back that Disney exercised their ROFR? If I may ask, who is your realtor? I'm also waiting to hear back on a BWV resale.

minniesfriend
02-21-2003, 05:09 PM
It took Disney 4 -5 weeks to let us know.

Pat at The Timeshare Store is our realtor. She said she has found replacement packages for other customers but nothing has turned up for us yet.

I hope things turn out for you. How many points are you purchasing? Please let us know how it turns out.

Thanks.

ncligs
02-21-2003, 05:26 PM
We were at the OKW members update meeting this week and the guide that gave the presentation said DVC right now is buying back 90% of the re-sales.
I am surprised it isn't 100%, it doesn't take a "rocket scientist" to see that they(DVC) can buy back re-sales at $62-$72 a pt and sell to DVC members on the waitlist for $84 pt.:rolleyes:

Disney50
02-21-2003, 07:59 PM
Minniesfriend,

We were trying to get 170 points at OKW. I think that you must also factor in banked points and available points on any contract as to how attractive that contract will be to DVC for ROFR. You may have no problem getting a contract by DVC in the $70 range that has no banked points or use year points available.

It also took us 4-5 weeks to hear from DVC on ROFR. It was nerve racking!!!!:crazy: :crazy: :crazy:

I definitely agree with ncligs that DVC would be fools to not be buying at these levels. Until you see the prices get at the levels of buying direct with MB ($74) they will continue to exercise their ROFR. That is the reason I went the route of calling my guide and buying BCV.

patsal
02-21-2003, 08:03 PM
Minniesfriend
They bought ours back too. I have just returned the signed contract and check to Disney for 100 BCV points while I patiently wait for Pat at the timeshare store to send me back my deposit check. I really didn't care where the points were except I didn't really want BWV (nice place to visit but I wouldn't want to "live" there JMHO). I thnk that for at least the time being re-sale may not be the way to go if you want things accomplished in a timely fashion. For people with patience and perserverence I'm sure the right one will come along!

lilkitty819
02-22-2003, 07:35 AM
Hi Minniesfriend,

So sorry to here about ROFR. We are in the middle of purchasing point's thru DVC, we first started with a resaler too. But after adding all the extra's with a resaler veruses DVC and MB the difference with them was only about 5 dollars a point. So we decided to end the headache and the wait by making a call DVC.. There's alot of plusses going thru DVC like making ressie's as soon as your guide can get you your DVC members#...knowing DVC won't refuse your contract...

Good Luck
lilkitty819

11/96--offsite
11/97--offsite
11/00--offsite
11/02--All Star Movie's
11/03-- And our first trip home BCV:Pinkbounc :earsgirl:

Dean
02-22-2003, 08:56 AM
Originally posted by ncligs
We were at the OKW members update meeting this week and the guide that gave the presentation said DVC right now is buying back 90% of the re-sales.
I am surprised it isn't 100%, it doesn't take a "rocket scientist" to see that they(DVC) can buy back re-sales at $62-$72 a pt and sell to DVC members on the waitlist for $84 pt.:rolleyes: Nick that may be true but I think the 90% is a little misleading. Not that you are attempting do mislead, simply that it's a function of DVC raising the floor and the resale agents finding out the hard way. What will happen is that those that pursue resale will move up the price ladder to the new level and the % bought back will drop. Once they have a pretty good inventory I suspect they will then back off as well. In other words, this situation will not last that long.

Crissup
02-22-2003, 10:49 AM
Originally posted by Dean
What will happen is that those that pursue resale will move up the price ladder to the new level and the % bought back will drop. Once they have a pretty good inventory I suspect they will then back off as well. In other words, this situation will not last that long.

I agree. I believe that they probably meant that they have been buying back 90% of the resales that have crossed their desks lately. This would be because they have been so cheap. However, as sellers begin raising their resale prices, they will begin to look less appealing and the percentage will drop (exactly as Dean described).

One other factor is that they have a long list of people waitlisted for add-ons. As that list is cleared out, this will be another factor in how many they buy back.

mikesmom
02-22-2003, 12:31 PM
Has anybody noticed any difference if you are buying for the first time or an add on? Any chance they are buying up the the first timers that are going for resale and not members who just want points at a different resort?

Obviously we are waiting on a contract. DH really wants points at OKW so buying at BCV and using MB isn't really an option. We already have 300 points at BWV. DH just wants ability to get into OKW for a GV at 11 months!

Sammie
02-22-2003, 12:36 PM
I think you will see this trend continue to until Saratoga Springs is open to sales.

As stated due to the difference in price I am surprised they don't do it more often.

Desperado
02-22-2003, 12:50 PM
I am surprised it isn't 100%, it doesn't take a "rocket scientist" to see that they(DVC) can buy back re-sales at $62-$72 a pt and sell to DVC members on the waitlist for $84 pt.
I know it must be difficult and dissapointing to work with a broker and think that you may be able to purchase DVC points through the relase market and a lower prices. That can't be fun to go through. But to me, it does make sense that with the long wait lists currently at the resorts that the buy back level would be much higher than it has been in the past. Looking at the equation above, that seems like easy money for DVC to me, without having to build additional resorts. I think ncligs makes a pretty good point above. While the large resale market has provided an element of safety for purchasers, knowing that if they needed cash they could sell thier points, it doesn't make a great deal of sense to have as many resales available at too low a price when Disney could easily be making a profit on those resales and at the same time creating some satisfaction for currently invested loyal customers by them being to finally have the add on they want.

As a buyer, I know this doesn't help when your trying to get the best deal, but for current members, it does offer some high demand add on capability that members should be given access to if possible and profitable for Disney. Perhaps the trick will be to start out with a little smaller point purchase in order to stay within your allocated budget.

Good luck.

Dean
02-22-2003, 01:01 PM
Disney has an inherent cost in the resales so there would need to be a margin to make it worth their while. My guess is that margin is $10 or slightly more but I'm sure it depends on the size of the contract and points availability as well. I wonder how they handle the points availability issue when the resell a contract they bought through their ROFR.

Scarlet
02-23-2003, 10:39 PM
Minniesfriend:

I'm curious about your contract for the resale at BWV...was it an April use year by any chance???

The reason I ask is because we just got back from vacation and there was a message from our guide that our waitlist request for add-on points at BWV (April use year) was available .....

Just wondering if they can actually turn those points over that quickly....

minniesfriend
02-24-2003, 08:24 AM
No, it wasn't April. I think it was Dec.

We are still looking into resale but it sounds like we may be out of luck.....