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-   Purchasing DVC (http://www.disboards.com/forumdisplay.php?f=28)
-   -   Buying process (http://www.disboards.com/showthread.php?t=3295308)

cantoine 06-25-2014 08:19 PM

Buying process
 
We began the process of purchasing DVC. I was wondering if anyone could take a few minuets and explain the process to me. Our contracts will be here tomorrow. Thats where we are at!!!!!

Thanks in advance. Please also feel free to share anything you feel is important. :cool1:

Msmithmd 06-25-2014 08:27 PM

Agreed-upon contract goes to DVC for right of first refusal. They decide whether to buy it out from under you or not. 30 days.

Contract passes ROFR and you receive closing documents. 2-5 days.

You rush your signed contract back overnight, and seller sends theirs back slowly after going to see a notary. 14 days.

Contract closes with the county in which you're buying and shows up on that website. 2-5 days.

DVC takes more time to create new owner profile and then load the points. Historically 1-2 weeks. Recently reported as much as 20-30 more days.

You have your ownership account and points loaded. You get set up online. And can book immediately at that point.

Overall- plan for 75 days after you send your signed purchase agreement back. Be happy if it is faster.

cantoine 06-25-2014 08:29 PM

We purchased directly from Disney. So we still have to go to ROFR

Msmithmd 06-25-2014 09:29 PM

Lol no. Figured you were resale purchasing. DVC doesn't ROFR themselves.

Your guide will explain the direct process. That's what he gets paid to do, beyond closing you on the sale.

Hope you're purchasing at VGF. If not, you're paying double what you should be paying. But if you're buying VGF, congrats on an awesome resort.

wildforgoofy 06-25-2014 09:55 PM

Quote:

Originally Posted by Msmithmd (Post 51730120)
Lol no. Figured you were resale purchasing. DVC doesn't ROFR themselves. Your guide will explain the direct process. That's what he gets paid to do, beyond closing you on the sale. Hope you're purchasing at VGF. If not, you're paying double what you should be paying. But if you're buying VGF, congrats on an awesome resort.

FWIW I laughed reading your timeline of events. Hahahaha!

disneynutz 06-25-2014 10:02 PM

Quote:

Originally Posted by cantoine (Post 51729746)
We began the process of purchasing DVC. I was wondering if anyone could take a few minuets and explain the process to me. Our contracts will be here tomorrow. Thats where we are at!!!!!

Thanks in advance. Please also feel free to share anything you feel is important. :cool1:

You need to realize that most here believe in the cost savings of buying resale. Not knowing where or what you bought it's hard to comment on your purchase.

Are you well educated in the art of DVC? Do you even want the pros and cons of owning or are you past that point?

:earsboy: Bill

cantoine 06-25-2014 10:30 PM

Quote:

Originally Posted by disneynutz (Post 51730303)
You need to realize that most here believe in the cost savings of buying resale. Not knowing where or what you bought it's hard to comment on your purchase.

Are you well educated in the art of DVC? Do you even want the pros and cons of owning or are you past that point?

:earsboy: Bill

Past the point of Pro's and Con's. I am well educated on how the program works. Buying direct was just a better option for us. We were just wondering how long the whole thing was going to take, and any trade secrets about the properties. Thought we would ask people who have been through it.

wildforgoofy 06-25-2014 10:39 PM

Quote:

Originally Posted by cantoine (Post 51730451)
Past the point of Pro's and Con's. I am well educated on how the program works. Buying direct was just a better option for us. We were just wondering how long the whole thing was going to take, and any trade secrets about the properties. Thought we would ask people who have been through it.

My SIL bought direct at VGF and the entire process took about 3 weeks. It was very quick.

disneynutz 06-25-2014 10:51 PM

Quote:

Originally Posted by cantoine (Post 51730451)
Past the point of Pro's and Con's. I am well educated on how the program works. Buying direct was just a better option for us. We were just wondering how long the whole thing was going to take, and any trade secrets about the properties. Thought we would ask people who have been through it.

The whole thing is a moot point when you buy through Disney, paying direct prices puts you on the fast track. You should have been able to already make your first reservation, the paper work is just a legal process. Nothing changes when the legal process is completed, closing, filings, deed.

Every property is different to a certain extent. Your best bet is to read through the resort posts, make yourself a list of resorts and stay at each one. I suggest that you make some resort pro and con notes so you can remember in 8 years what the resort stays were like. Then you can focus on your favorites.

Good luck and have fun.

:earsboy: Bill

Msmithmd 06-25-2014 10:53 PM

Quote:

Originally Posted by wildforgoofy (Post 51730491)
My SIL bought direct at VGF and the entire process took about 3 weeks. It was very quick.

+1

And you can probably book the same day you close your purchase, through your guide.

Direct is better for ease of purchase, flexibility, and speed of your ability to book vacations. Everything, in fact, except price.

On price, resale can save literally half the cost. So resale is the way I would go in most every circumstance- except buying a new resort (like VGF) where there isn't a meaningful cost difference established yet in the resale market. Congrats on your purchase.


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