200 BLT Points - What to do?

[marathonmommy]

Am closing on my BWV resale and am having seller's remorse. LOL! So, now I'm probably going to purchase at BLT (still can't get the pic of a bacon sandwich out of my mind!) Anyway, I'm thinking of getting 200 points. My guide says I can get the incentives even if I break the contract up into two 100 point contracts. I thought I would do this so I could put the each of the contracts in my kids' names - 100 points for each when they get older. Of course, I'd be the primary owner! And if I live to be 101, all 200 points are still mine. LOL!

So can someone tell me the pros and cons of breaking up 200 points into two separate contracts? Or keeping them as one larger one?

 

[disneynutz]

Am closing on my BWV resale and am having seller's remorse. LOL! So, now I'm probably going to purchase at BLT (still can't get the pic of a bacon sandwich out of my mind!) Anyway, I'm thinking of getting 200 points. My guide says I can get the incentives even if I break the contract up into two 100 point contracts. I thought I would do this so I could put the each of the contracts in my kids' names - 100 points for each when they get older. Of course, I'd be the primary owner! And if I live to be 101, all 200 points are still mine. LOL!

So can someone tell me the pros and cons of breaking up 200 points into two separate contracts? Or keeping them as one larger one?

No cons that I can think of. You might find out more about putting it in your kids names. Beside the legal issues, what's to say that they want to be involved with Disney when they get older?

My DW assumed that our DS would want to vacation with us at WDW every year. Last year he finally told her that he loves his Mother, but he doesn't love WDW. He would rather hang out with his friends.

 

[Sandisw]

I would definitely do the 100 point contracts. The pros are that you will be able to sell off part of the contract if you ever had to without giving up all your points. Selling smaller contracts is easier than larger ones. And, smaller contracts comand a little more than bigger ones. Matter of fact, if you can, I would try to do 4 - 50 point contracts or 1 - 100 and 2 - 50 point contracts. I just sold a 50 point contract and it took only 24 hours to get a buyer. Not that selling is your plan, but you just never know.

Cons--well, I haven't found one yet since you are adding on through Disney and there will be no closing costs.

When the contracts are the same resort and the same UY, you can use all the points at 11 months as though it is one big contract. But you really have a lot of flexibility in terms for the future.

Good luck!!!

 

[marathonmommy]

Beside the legal issues, what's to say that they want to be involved with Disney when they get older?

They were born with WDW blood running through their veins . . . no doubts! LOL!

 

[work2play]

Will you still be a DVC member when your resale closes? I was told by my guide (we are not yet members) that unless you are already a member, then the minimum contract has to be for 160 points. I wanted to buy 200 points as four 50 point contracts, but was told that one had to be for 160 points.... (anyone else told that?)

If this is true, you should buy while you are still members where you can add on in any amount you choose...

 

[Sandisw]

Will you still be a DVC member when your resale closes? I was told by my guide (we are not yet members) that unless you are already a member, then the minimum contract has to be for 160 points. I wanted to buy 200 points as four 50 point contracts, but was told that one had to be for 160 points.... (anyone else told that?)

If this is true, you should buy while you are still members where you can add on in any amount you choose...

That is typically the way it has been...but I have read a few posts in the last week or so where people have gotten Disney to give them the first contract for less than 160. They were buying between 270 and 350 points, but the largest contract they had to do was 100.

 

[Crystal_27]

The only "con" that I've been able to ascertain in splitting the contracts is that the closing costs are a tad bit higher (and by a tad I mean like $100). Given that the 100 point contracts or less are so highly sought after, I certainly believe the extra cost is worth it. Good luck.

 

[work2play]

I thought there were no closing costs if you were adding on through Disney?

 

[ssawka]

The only con I know of is when you want to add others (i.e. children) to the deed, you have to pay a service fee for each contract.

That being said, my guide told me that you can split it up how you want, but he seemed quite reluctant to do more than 2 contracts on my initial purchase.

 

[thelionqueen]

I thought there were no closing costs if you were adding on through Disney?

There didn't use to be, but there have been for about 2 years now. There is no additional closing cost at all when splitting contracts. We split out 220 points 3 times with zero additional closing costs.

 

[marathonmommy]

No closing costs if a current DVC member with a contract. If the contract I am selling closes before I buy, then I do have closing costs.