DVC RESALES
DVC RESALES

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Old 11-21-2013, 01:58 PM   #16
JimMIA
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You say you bought "...a couple of weeks ago." Depending on the exact details of that transaction, you might have a couple of options for getting out of the purchase.

First, under Florida law, you have a right to rescind (cancel) any real estate purchase within 10 days of purchase. The exact definition of the purchase date depends on the specifics of the transaction. For example, if you agreed to buy and made a deposit, and later received your purchase paperwork for signature, etc, you might still be within your ten-day recission period depending on the exact timing. The devil is most assuredly in the details with situations like this. If you are within the recission period, you will get all of your money back.

The second option is that Disney might let you out of the purchase just because you made a mistake. They certainly are not required to do so, but if you call Member Administration and tell them you simply think you made a mistake, they might be able to help you. Obviously, you would not tell them you just want to get out of the purchase because you found out you can save money buying resale!

Either of those two options, it seems to me, would be far preferable to selling your newly-purchased VGF contract.
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Old 11-21-2013, 07:33 PM   #17
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If you could still recind your contract I would recommend that action but if it would be a sale then I also think you should wait awhile. It's a bummer to learn about these options or really have the realities of how much you can get resale vs. what the cost of what the guide served up bright shiny and new but at this point you would be paying quite a big fee for that lesson. If the fear is about getting a studio at VGF in early November then owning resale elsewhere isn't going to help improve that and it's hard to say how any size accommodation is going to go at 7 months on a regular basis. If you can book right at 11 months I think you'll be fine and if not then since you were considering other resorts then you're still in that same camp of booking elsewhere at 7 months.
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Old 11-21-2013, 08:24 PM   #18
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Originally Posted by boxer View Post
We recently bought direct (195) VGF points on our trip a couple weeks ago. Before I go any further, I will say that we LOVE the VGF, and do not regret buying there even for one instance. With that being said, I will also admit (lol) that I did not do enough research into the whole DVC program, and what could have been purchased for that same amount of money. This is where I have the questions--I have been scouring this board, and on the DVC website researching things, and came to some conclusions. Here are my options as I see them:

1. We have (195 +139) points currently at the VGF. Our Use Year is in October, so we will get an additional (195) at that point. I think everyone is fully aware of what the VGF is selling for right now, so it is not hard to figure out what I spent on this. We are NO loan, so any selling/buying transaction should be easier. My fear is the VGF will become difficult to book for a Studio at our usual time of vacation (early November), and I will get stuck moving to a different resort, or having to borrow for a bigger accomodation. This is not the case now, but the VGF popularity seems to be growing by the day, and I'm worried we just won't have enough points.

2. My further research shows that 1-beds seem to almost always be available at resorts (for the most part), but require obviously more points. I'm THINKING it may be more prudent that have MORE POINTS, rather than a smaller amout of points at a resort we love. With the $30k I invested in the VGF, I can buy other contracts (BWV, SSR, etc) for contracts of over (300) points. These extra points can be used as a back-up should I need to move to a 1-bed accomodation for the resort we desire.

We are able to easily plan our trips at the 7mos/11mos mark, so this is not a problem at all. I was playing around on the DVC site yesterday, and there is almost every Epcot/MK resort available (right now) at the 7mos mark, for either Studios or 1-bed, for several days at a time. With the flexibility of the extra points, that would allow me to shoot for the VGF, even at the 7mos mark, and in most cases get at least a 1-bed (even though we would be more than happy with the Studio). With this being said, there are other resorts we wouldn't be 'disappointed' with if we couldn't get the VGF.

Does any of this make sense? I need to make a decision soon whether to sell my VGF points, before the market gets flooded with other VGF contracts. PLEASE give me some advice (that I SHOULD have asked before my purchase, lol).
You're likely past your cancelation deadline, if so, you're in already. Selling and buying back doesn't really make sense in your situation. You could consider is adding on at a lower resort and then renting what you don't want. However, I like to keep things simple when I can so I'd just see how it goes the next couple of years and see how you feel at the time, how you're using it, etc.
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Old 11-21-2013, 08:27 PM   #19
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Just so happens a VGF contract just popped up for sale at one the broker's sites.

Quote:
ID: 1311074
Resort: Disney's Grand Floridian Resort
Points: 125
Use Year: April
Points Status: 0 2013, 125 2014
Price Per Point: $150.00
Purchase Price: $18,750.00
Special Conditions: None
Isn't that price about what DVC is currently asking, or did I miss a price increase or two along the way?

I post this just to show the OP that while the idea of selling is feasible, to get someone to buy resale at VGF now might require a somewhat lower asking, and acceptable to the seller, price than what DVC is getting.
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Old 11-21-2013, 11:45 PM   #20
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Originally Posted by Breyean View Post
Just so happens a VGF contract just popped up for sale at one the broker's sites.



Isn't that price about what DVC is currently asking, or did I miss a price increase or two along the way?

I post this just to show the OP that while the idea of selling is feasible, to get someone to buy resale at VGF now might require a somewhat lower asking, and acceptable to the seller, price than what DVC is getting.
Looks like the seller used the 2013 points. Considering that they will have to pay the 10% broker fees, I guess they feel like they got a vacation at VGF for around $15 pp. Now whoever buys that contract at that price will have to pay an additional $450 to $550 in closing costs. They will have to take a lower price. I'd rather buy direct.
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Old 11-22-2013, 12:33 AM   #21
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I agree, but the longer I wait, the more of a hit I will take since the price per-point will decrease--right?
On the other hand, you will have had some fabulous vacations in a gorgeous place. That should have some value to you, IMO.


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Originally Posted by CarolMN View Post
Remember, you are only competing with other VGF owners, so it really doesn't matter if the resort is popular with non-owners if you book at 11 months.



Quote:
Originally Posted by kristenrice View Post
ISecond, your selling price will have to be low enough to entice a potential buyer to sacrifice the direct-purchase benefits that they could get by buying from DVC. ....

I would hang on to your VGF contract...use it...LOVE IT...and maybe think about adding on more points down the road if you need to upgrade or go more often.
and


Quote:
Originally Posted by boxer View Post
Glad to see someone else jump into this with limited research, lol! I just am getting greedy when I see what we spent for (195) points, could have got me over (300) points by buying resale. The booking availablity is also making me nervous, but it is mostly understanding now that I could have ALOT more points by buying resale.
I totally get that. We bought Bay Lake in 2009. And we financed. And we've never stayed there. Turns out we like other places just fine. And we don't like the points needed for Bay Lake, since we like more vacations and longer vacations.

You LOVE the GFV (VGF?). You LOVE studios. Don't discount the ability to get what you LOVE, 11 months out. 4 months further out that I could get it, for example.

People say to buy where you WANT to stay. For us, turns out we made the wrong choice, and only realized it later on. Since we financed and since we fell behind on our promises (to ourselves) to pay it off asap, we can't really sell it right now. Gotta wait it out. Yours is all paid for. You love the place. Go with that.



Quote:
Originally Posted by kristenrice View Post
Remember, at 11 months, you are only competing with the other GFV owners. DVC can grow and expand, but your competition at 11 months is finite.



Quote:
Originally Posted by boxer View Post
Kind of surprised by the replies I'm getting on this! I figured since most of you here bought resale, that would be the concensus.
1- I'm not sure MOST people bought resale. I think most people who respond say that newbies should buy resale, but I'm not sure that's the majority of the actual users. Heck, I'm starting to say "buy resale with cash unless xyz", and we bought direct (and financed, shudder!).

2- You love it. You love the size of the rooms you want to get. You get the 11 month advantage. Go with that. Enjoy the heck out of your purchase.
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Old 11-22-2013, 03:21 AM   #22
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I agree, but the longer I wait, the more of a hit I will take since the price per-point will decrease--right? I would think VGF resales will be at the highest for the next several months--then will drop off probably around this time next year.
I'm not sure about that. I bought VGF and have other resale points but if they were selling resale for close to what they were selling for direct I'd buy direct. I think the best chance if a good resale price us just after Disney sells out.

I'd keep your points and book at 11 months I think chances are you will be fine
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Old 11-22-2013, 03:26 AM   #23
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Originally Posted by Breyean View Post
Just so happens a VGF contract just popped up for sale at one the broker's sites. Isn't that price about what DVC is currently asking, or did I miss a price increase or two along the way? I post this just to show the OP that while the idea of selling is feasible, to get someone to buy resale at VGF now might require a somewhat lower asking, and acceptable to the seller, price than what DVC is getting.
I wouldn't consider that contract personally while Disney is selling direct.
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Old 11-22-2013, 07:52 AM   #24
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Thanks to everyone for your responses--you made me feel a 'little' better about spending $30k, lol. Seriously though, we LOVE the VGF, so I think we will just sit tight for the time being. The weird thing is we have never been Grand Floridian people before, and even when the guide said they had VGF, our response was 'we don't like that place'. Then we walked in..........and now I'm missing alot of money in my account!!!!

I will see what the finances bring in the next year, and maybe add a small resale contract to get my points closer to (300) overall.
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Old 11-22-2013, 07:55 AM   #25
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Quote:
Originally Posted by Breyean View Post
Just so happens a VGF contract just popped up for sale at one the broker's sites.



Isn't that price about what DVC is currently asking, or did I miss a price increase or two along the way?

I post this just to show the OP that while the idea of selling is feasible, to get someone to buy resale at VGF now might require a somewhat lower asking, and acceptable to the seller, price than what DVC is getting.
As a resale purchaser, I would NEVER pay that for a stripped contract. I was thinking of listing mine around $145/PT, and I have (195+139) available for this year, and would be getting (195) again next October. Rumor has it that VGF will soon be jumping to the $160/PT range, but that sounded like a few months away yet.
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Old 11-22-2013, 08:12 AM   #26
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Originally Posted by bumbershoot View Post
1- I'm not sure MOST people bought resale. I think most people who respond say that newbies should buy resale, but I'm not sure that's the majority of the actual users.
I'm pretty sure the vast majority of DVC contracts sold each year are sold direct by DVD. I don't think the resale market is much more than an annoyance to DVC timeshare salesmen -- something they need to be aware of and have a counter-argument for...whether legitimate or otherwise. And obviously, ALL DVC points were originally sold direct. Disney has already gotten their money for anything on the resale market.

The readership here on the DIS is a tiny percentage of the hard-core Disney people, and they tend to be much more knowledgeable about DVC, Disney, and timesharing generally than the average DVC owner. I've talked to some non-DIS DVC owners who don't even realize they bought a timeshare...
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Old 11-22-2013, 09:28 AM   #27
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I agree with others who say "enjoy what you bought". Can't think about the "what-ifs" right now. I seriously doubt you will have any trouble booking what you want at 11 months out. If you do have some extra $$, you may want to look into re-sale for other DVC resorts, but personally I would rather do a couple of smaller contracts than one bigger one (because if the need arises it is easier to sell a smaller contract). You may find that your needs/wants change when your kids get older. You could rent your VGF points and in turn, rent from someone for a different resort. Or just book a stay at VGF and try to switch elsewhere at 7 months to see if you like a different resort better.

We have been doing some split stays during Food and Wine (BWV/BLT), but found during our last trip that I just get too worn out moving from resort to resort. We did come very close to purchasing VGF in October when we got the tour the day before opening....we thought about selling a small VWL contract; then thought about it for a couple of days and decided against it....mainly because I really, really want to stay at VWL at Christmas in the next couple of years. We haven't used our points there at all.....have banked and borrowed them for Aluani (along with our SSR points).

Believe me, when we bought our first contract, direct, in 1997 at BWV, I had alot of doubts about the amount of $$ we spent and the financing thing. But I ended up getting the new job I wanted and we were able to pay it off pretty quickly...and then proceeded to buy at more resorts. Then discovered the resale market (thru our Disney guide)....sold our BCV points to buy BLT direct; and have purchased a few smaller contracts re-sale since then.

You will be making some great memories and will have some really great vacations with your family. We were never sorry for any of our purchases. Enjoy, enjoy, enjoy. Just make sure you keep organized about your booking window and keep track of banking and borrowing your points. And make sure you understand the rules about borrowing and how your can't "put them back" once you borrow (i.e. if you borrow 2015 points for 2014, you can't change your mind and put them back to 2015...they must be used for 2014 use year....and please someone correct me if I am wrong). It took me a few years to "get it"....and losing some points one year. Never happened again, though.

Last edited by deedisneydream97; 11-22-2013 at 09:29 AM. Reason: mis-spelled
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Old 11-22-2013, 10:09 AM   #28
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Sorry, just thought of something else. If you have a financial planner, maybe you should run your thoughts by him. If you seriously ARE considering selling, there might be some "tax" things involved (selling at a loss, etc.); then again, maybe not. Not sure how the whole thing works with a timeshare.

VGF is a beautiful place and you love it. That is what, sometimes, matters most.

Best wishes to you.
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Old 11-22-2013, 11:29 AM   #29
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If you seriously ARE considering selling, there might be some "tax" things involved (selling at a loss, etc.); then again, maybe not. Not sure how the whole thing works with a timeshare.
Gains are taxable - losses are not deductible.
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Old 11-22-2013, 01:07 PM   #30
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I'm pretty sure the vast majority of DVC contracts sold each year are sold direct by DVD. I don't think the resale market is much more than an annoyance to DVC timeshare salesmen -- something they need to be aware of and have a counter-argument for...whether legitimate or otherwise. And obviously, ALL DVC points were originally sold direct. Disney has already gotten their money for anything on the resale market.

The readership here on the DIS is a tiny percentage of the hard-core Disney people, and they tend to be much more knowledgeable about DVC, Disney, and timesharing generally than the average DVC owner. I've talked to some non-DIS DVC owners who don't even realize they bought a timeshare...
To ECHO some of Jim's thoughts. How people got to be members really should have little impact on this issue for 2 reasons. One, we are all better educated than when we first bought in and two, the landscape has changed dramatically in a number of ways. When many of us bought the difference between retail and resale was around 20% and prices were much lower than they are now. However, that people bought retail and are happy does not automatically mean they made a good choice.
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