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-   -   Buying a resale through Timeshare Store (http://www.disboards.com/showthread.php?t=2971867)

MedicGoofy 08-07-2012 02:47 PM

Buying a resale through Timeshare Store
 
Hi everyone:)

I have been thinking for a while about the prospect of buying into DVC. I have looked at everything through the website, and the information that they send out.

If Im reading it correctly, Im looking at approx $20,000 for about 160 in points. Then I am looking at Timeshare Store. And it is just over half the cost when buying it from them. Im confused.

Has anyone bought from Timeshare Store, a resale contract? What is the process like? How does this work? Why does it seem so much cheaper than just buying from Disney direct? And is there concerns one should have about buying with Timeshare??

Thanks, any help is GREATLY appreciated:thumbsup2

Jenn

DizBub 08-07-2012 03:10 PM

Quote:

Originally Posted by MedicGoofy (Post 45746786)
Hi everyone:)

I have been thinking for a while about the prospect of buying into DVC. I have looked at everything through the website, and the information that they send out.

If Im reading it correctly, Im looking at approx $20,000 for about 160 in points. Then I am looking at Timeshare Store. And it is just over half the cost when buying it from them. Im confused.

Has anyone bought from Timeshare Store, a resale contract? What is the process like? How does this work? Why does it seem so much cheaper than just buying from Disney direct? And is there concerns one should have about buying with Timeshare??

Thanks, any help is GREATLY appreciated:thumbsup2

Jenn

Welcome!!
Timeshare Store is totally reputable. Resale is really the "best kept secret" about DVC. You can save thousands by buying resale. Do some research by reading everything you can here.

There are some restrictions to buying resale like you can't cruise on those points or use them for the Concierge, Disney and Adventure Collections but you can still use them to trade into RCI. Other than these restrictions points and usage of them are identical to what Disney will sell you.

The process is longer to buy resale but the savings are worth it. Usually it takes 2 to 3 months from offer to having your points available to book trips. You find a listing that you like and make an offer through your broker, they present it to the seller and you either negotiate or they accept and then you sign a contract and send a down payment. Contract gets sent to Disney for ROFR (Right of First Refusal) which takes 30 days then if waived it goes for estoppels and then you get final contracts to sign and send in final payment. When both buyer and seller sign their contracts it goes to closing. Contract then gets recorded with the county and then goes to DVC to be set up in an account.

Enjoy learning all about it!!

fmer55 08-07-2012 03:27 PM

Overrated

chalee94 08-07-2012 03:27 PM

Quote:

Has anyone bought from Timeshare Store, a resale contract?
yes.

Quote:

What is the process like?
i called about a small contract - they put me on their email list - i called about a specific contract - they told me i was their second caller - the first offer fell through, so they offered it to me - i took it - the process took about 2 months - TTS kept me updated and it was easy (except for the waiting)

Quote:

How does this work?
someone bought into DVC (either direct or resale) and has decided they want to (or have to) sell - disney will not buy back the pts directly - the owner calls a broker like the timeshare store to help them find a buyer.

Quote:

Why does it seem so much cheaper than just buying from Disney direct?
because it is.

Quote:

And is there concerns one should have about buying with Timeshare??
the only downsides are that 1) it takes longer than buying direct, 2) financing options are limited and 3) if you negotiate a really impressive deal, disney has the right of first refusal (ROFR) on all contracts and can choose to take the contract away from you...which can really make things take longer.

also, the timeshare store is brokering a deal between you and the seller. if the seller tries to pull a fast one (and lies about the pts available) or drags their feet returning documents, that may cause delays or frustrations that the timeshare store has no control over. (they will check the pts with DVC before you close.)

KAT4DISNEY 08-07-2012 03:37 PM

Quote:

Originally Posted by MedicGoofy (Post 45746786)
Has anyone bought from Timeshare Store, a resale contract?

Many, many people here have - us included. These days it may sound too good to be true but it's just true and a very good deal to buy resale instead of direct from Disney. :thumbsup2

disneynutz 08-07-2012 03:53 PM

Quote:

Originally Posted by MedicGoofy (Post 45746786)
Hi everyone:)

I have been thinking for a while about the prospect of buying into DVC. I have looked at everything through the website, and the information that they send out.

If Im reading it correctly, Im looking at approx $20,000 for about 160 in points. Then I am looking at Timeshare Store. And it is just over half the cost when buying it from them. Im confused.

Has anyone bought from Timeshare Store, a resale contract? What is the process like? How does this work? Why does it seem so much cheaper than just buying from Disney direct? And is there concerns one should have about buying with Timeshare??

Thanks, any help is GREATLY appreciated:thumbsup2

Jenn

You are just starting the journey of looking into becoming a DVC owner. Take as much time as you can to read the posts here on the DIS about the DVC. There are several experienced DVC Brokers that you can buy through, we have use 3 of them as well as buying direct from Disney.

:earsboy: Bill

cz4ever 08-07-2012 03:59 PM

Quote:

Originally Posted by MedicGoofy (Post 45746786)
If Im reading it correctly, Im looking at approx $20,000 for about 160 in points. Then I am looking at Timeshare Store. And it is just over half the cost when buying it from them. Im confused.

Congratulations --- you have just discovered the DVC resale market! In a nutshell, when you boil DVC down to its essence, it is a (high-end) timeshare system. Like all timeshare systems, you can save a LOT of money if you buy resale (from a previous owner) rather than directly from the developer. If anything, the roughly 50% drop in price from direct to resale that you see in DVC is tame by the standards of most timeshare systems.

There are a huge number of posts in this forum that describe the resale process, discuss strategies for finding the right deal, the tradeoff of buying resale versus direct, and much more.

If you scan through the "Anybody made it through (or not) ROFR recently?" thread, you will see the kinds of deals that people on these forums have been able to negotiate. The most up to date summary can be found HERE (link).

If you are interested in buying resale (and most, but not all, posters on this forum seem to be strongly of the opinion that resale is almost always the best way to go), I recommend reading this forum for a while to get a feel for the process. Also, The Timeshare Store is not the only well known, frequently used DVC timeshare reseller. Two others that get good marks from people here include Fidelity Resales (often the low-price leader) and DVC By Resale. And there are others out there that you can find by Googling "DVC Resale".

Good luck!

zavandor 08-07-2012 04:00 PM

Also, the price listed on the Timeshare store is the asking price, you can (should) try offering a lower price.
I offered 5$ than listing price and my offer was accepted.

This thread shows the prices paid from people posting here their deals:

http://www.disboards.com/showthread....61661&page=222

It's very useful to understand how much to offer.

dasani700 08-07-2012 04:08 PM

We made it through ROFR today and we worked with the timeshare store. We sold 150 bwv points and 350 bwv points 6 years ago thinking that we would never go back after our Son died. They did a great job selling them for us and we got our asking price. We are now buying 150 bwv points again because we miss Disney too much and the times I have gone back I have rented from someone on here that is now my Facebook friend. :) I look forward to hopefully working with them again in the future.

justright6 08-07-2012 05:08 PM

Quote:

Originally Posted by cz4ever (Post 45747597)
If you scan through the "Anybody made it through (or not) ROFR recently?" thread, you will see the kinds of deals that people on these forums have been able to negotiate. The most up to date summary can be found HERE (link).

If you are interested in buying resale (and most, but not all, posters on this forum seem to be strongly of the opinion that resale is almost always the best way to go), I recommend reading this forum for a while to get a feel for the process. Also, The Timeshare Store is not the only well known, frequently used DVC timeshare reseller. Two others that get good marks from people here include Fidelity Resales (often the low-price leader) and DVC By Resale. And there are others out there that you can find by Googling "DVC Resale".

Good luck!

I agree. While I had great service with the TTS for my first resale purchase, if I bought again I would put in more time and offer lower which seems to be acceptable with the other companies and not the TTS (this is just my opinion). From what I have read and researched, in my opinion if you want a low price go with another company. If you are in a time crunch go because you have a trip planned go with the TTS if not take your time and research other companies.

mrsjef 08-07-2012 05:15 PM

We just completed the process and used The Timeshare Store. They were great to work with, and so was the title company that they use. Everything was handled in a very professional manner & they were very happy to answer all my questions. I highly recommend using them to save big bucks over the cost of buying direct from Disney. We were in a time crunch (offered in June & had a cash trip already booked for September that we wanted to cancel to rebook with points) but everything worked out great for us, and I was just able to book exactly what we wanted (we wanted SSR for our first trip since that's where we bought) for the dates we wanted! (I realize that doesn't always happen...it helps immensely that we are traveling in a really slow DVC season!)

Read, read, and read some more. There is a wealth of knowledge on these boards! Best wishes to you on your purchase process!

missycj96 08-07-2012 06:53 PM

I bought 2 contracts from them - great company. The first time i couldnt believe i was going to send that much money to a company i found on the internet, but i researched and hoped for the best. It was fine and no problem. Buying resale is great. I knew that to enjoy my membership i needed a lot of points. Otherwise, id be paying for dvc and paying for hotel rooms, too. If i bought direct i never could have afforded the amount of points i was able to buy resale. So the short answer is the timeshare store is a reliable company with great service - particularly for new dvc buyers who will have a lot of questions and need some hand holding in the process.

JimMIA 08-07-2012 07:18 PM

To try to answer your question, several of the posters have made valid points.

The main drawback of purchasing resale (I've purchased both resale and direct) is the time. It takes a considerable amount of time to do your homework (which you should do regardless of how you purchase), find a contract that meets your needs, and then go through the offer, negotiation, processing, and closing process. From offer to closed, "in the system" and able to make reservations can be up to 8-10 weeks.

The other thing to be aware of is ROFR, mentioned above, which interjects some measure of uncertainty. However, a good broker like TTS can generally steer you away from paying too low a price and then losing the deal to ROFR. If Disney does ROFR your contract, you don't lose a penny. You get your money back; you just have to start over.

It's also important to understand that ALL of the resale brokers are licensed by the State of Florida and regulated by the Timeshare Division of the Department of Business and Professional Regulation -- exactly the folks who regulate DVC itself. It's a very tightly-regulated, clean market.

There are some restrictions on the use of resale points. However:
  1. Most knowledgeable people don't think those restricted uses are good values anyway. They tend to be VERY expensive options and poor value for DVC points.
  2. In addition, those restricted options are not guaranteed to direct buyers either. At any time, Disney could modify or eliminate those "benefits" with little or no notice -- for the DIRECT buyers who paid double in some cases to get those "perks."
My advice, echoing what you've heard above, is to take plenty of time, do your homework, and be sure exactly what you are doing and what you are buying before you pull the trigger.

KAT4DISNEY 08-07-2012 07:47 PM

Quote:

Originally Posted by missycj96 (Post 45749602)
The first time i couldnt believe i was going to send that much money to a company i found on the internet, but i researched and hoped for the best.

This is a crazy feeling, isn't it!?!?!? Funny thing for me was after finding these boards and learning about resale I discovered that one of the TTS salepeople was someone I had met! He used to live where I did and managed the grocery store. :rotfl: So it gave more legitimacy to the process - at least that they were real people (although we didn't end up using them for our first purchase - shhhhhhh!).

garryblueboy 08-11-2012 10:07 AM

We were new to resale and went with the TTS and they were great Jason answered all our questions as we were from the UK we thought it would be difficult but within six weeks we had offer accepted passed rofr and closed and set up on Disney system the worst bit was the ROFR it's a long wait but we are glad we went with the TTS . :dance3:


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