A bit confused

[Jobelly]

Hi, I've just joined dis today, although I have browsed quite a bit in the past. I've been reading a lot of the dvc posts as we're thinking about buying a resale. Although I love BC we're considering buying SS (which we've never seen) as its close to DTD and you get more points for less and it's cheaper for annual dues. I do hope we would be able to stay at BCV at some point again though, as we would be hoping to book either may or mid to end of August and I don't think this is a particular busy time so hopefully should get at the 7 month mark.
Anyway that is just a bit of background, I have been reading the post about people who have gotten past ROFR and I am a bit confused. Am I correct in thinking that these are people who have been successful in buying resales and they have got them at the price per point indicated? These prices all seem a lot lower than the sites I have been looking at (I don't know if I can name the sites but it seems to be the three big ones and another I saw mentioned on dis). Also do they indicate that the seller agreed to pay annual dues as all the sites seem to say I would be responsible for this years annual due.
If I do decide to go ahead and buy should I make an offer quite a bit lower than the price as going off the list some of them are $10 per point less?
We don't intend going until may2014 and as travelling from uk will probably be two weeks at a time and every other year so thinking we probably need about 250points.
Thanks for any help.

 

[disbound09]

In resale you can offer what you consider to be a fair price. Seller can counter, or hold tight. Depending on how many offers you want to make before you find your property will help you set a price you are willing to wait for. We are ROFR for a SSR property we offered 50 on a 60 per pt contract and settled at 53. It was loaded with 320 2012 and all of 320 of 2013. We have stayed at SSR in past and loved it so we bought there. I did not like BC when we stayed there so it is a personal choice you make. SSR is laid back and that fits some people. BCV is hard to get in at 7 months most of the time and impossible other times. Buy where you know you will like. Good Luck!

 

[Jobelly]

Thank you.
Think we will like SS, besides that we can't afford as many points at BCV as we would need. BWV would be an option but although I liked boardwalk I'm not so keen on the pool area and very busy to stay in.
Am I right in thinking a loaded contact goes for more? A loaded one would be no good for us as thinking we want as use year of about march/April and so any points would be wasted as we're not going until may 14.

 

[disbound09]

SSR is laid back which we enjoyed. Loaded contracts are more valuable, but deals are around. You can always bank points into 2014 or possibly rent them. A stripped contract is normally less.

 

[Jobelly]

Is a stripped contract one with no points for the current year? Possibly wouldn't bother me as going in 2014 and then unsure if will we 2015 or 2016.
Is it easy to rent points out?

 

[Caren90]

I would suggest renting points and "trying out" a few different resorts before you consider purchasing. DVC is a long term commitment whereas renting, although possibly a bit risky (I have never had a problem), commits you to only that vacation.

Stephen

 

[XGrumpy1]

I consider a stripped contract to have no points from last years allotment, no points from this years allotment and next years points were already borrowed and have been used.

A stopped contact will be slightly cheaper, but consider a contract with points, you are buying to be able to go to WDW, not wait for 1-2 years!

 

[Jobelly]

I did think about renting but unfortunately coming from uk it's not something we can do just for a few days. Also the cost of renting for 12 nights is quite substantial and could go towards the purchase of points.
I agree it is risky never having seen SS but the closeness of DTD is quite a plus and I can't see us hating it. I suppose you never know.

 

[Jobelly]

Thanks XGrumpy,I don't want a stripped then as I want next years points, just not bothered about this years as not going and it saves the annual fee.

 

[disbound09]

I did think about renting but unfortunately coming from uk it's not something we can do just for a few days. Also the cost of renting for 12 nights is quite substantial and could go towards the purchase of points.
I agree it is risky never having seen SS but the closeness of DTD is quite a plus and I can't see us hating it. I suppose you never know.

You can find contracts with various levels of points shop around. We like SSR but it is a ways from parks so bus ride no walking. You can walk to DDT. It is accessible at 7 month mark so the 11 month advantage is not really needed. Renting is easy we never had a problem with ours. 12 nights would be a good amount to use towards purchasing. Just remember that the MF are every year that is the cost that is ongoing as well as vacation expenses themselves. Buying in is the cheap part.

 

[disbound09]

I think I read somewhere in the forums that a guy from Canada had to close on the property in Florida to comply with real estate laws. You should research that as well.

 

[Dean]

Is a stripped contract one with no points for the current year? Possibly wouldn't bother me as going in 2014 and then unsure if will we 2015 or 2016.
Is it easy to rent points out?

Technically it doesn't matter if you get the points you need and will use. However, stripped contracts are rarely enough less to make up the difference. The reasons are that they don't tend to drop the pice enough to adjust for the lost points figured at say $10 a point including the maint fees and that banked and borrowed points generally only increase the price marginally plus there are usually little or no fees expected on those points. Side by side a stripped contract is almost always relatively more expensive. Now sometimes it may be the only way to get what you want so the relative difference becomes moot. If you can get a stripped contract for a comparable price and a reasonable fee situation they are likely a better deal because you have advance options on every points in the contract.

 

[Jobelly]

Thank you all, lots to think about.
I've been on the phone to disney but no one seems to be able to tell me if there is any availability at beach club for the last two weeks of August this year. I thought that would give me an indication of whether we would be able to book at other resorts.
What she did tell me was lots of horror stories about people who didn't but direct from disney being ripped off. Is a bit of a worry but such a big price difference.

 

[AquaDame]

Did she happen to go into details about how they were ripped off? If we understand the difference between the two it should be OK, so just curious what she meant?

 

[Jobelly]

She said that the company only check the points at the start so people have closed and then went to book their holiday only to find that the sellers have used the points between listing and closing and they're no longer available!

 

[disneynutz]

She said that the company only check the points at the start so people have closed and then went to book their holiday only to find that the sellers have used the points between listing and closing and they're no longer available!

You expect Disney to be honest and above board but DVD plays by different rules. They will say pretty much anything to get you to buy direct and they have already restricted resale buyers from the exchanges other than RCI. That shouldn't matter anyway because exchanges aren't a good deal, you should buy a DVC interest to vacation at DVC resorts only.

You really need to decide on which resort you love and want to call home. Booking a resort for 2 weeks at 7 months out may exclude you from the popular resorts. There is a reason that some resorts have limited availability and others don't. Do you really want to buy a resort where others don't?

As a seasoned owner your vacation habits will change and you will not be in a rush to hit the parks. You will spend more time at your resort enjoying your vacation, you may sleep in, eat in your room more, go for walks.

We have been owners for many years and our vacation habits have changed. On our last 8 night stay we went into the parks for a total of about 6 hours.

Bill

 

[DannysMom]

She said that the company only check the points at the start so people have closed and then went to book their holiday only to find that the sellers have used the points between listing and closing and they're no longer available!

If you work with one of the larger, reputable resale brokers that will not happen. That was merely a scare tactic by a salesperson, looking to make you fearful of resales, making your only options direct purchase, from her. Talk instead to a sales person at The Timeshare Store (forum sponsor) or Fidelity. Ask specifically about buyer protections from the sort of scenario the DVC "guide" laid out for you.

You have already missed the 7 month window for BCV for the end of August. Now you will only find very spotty availability, a night here or there. SSR by comparison is wide open. You could book 2 weeks at SSR, no problem. The key to having a chance at nabbing something at one of the smaller resorts (BCV, VWL, BLT) at the 7 month mark, is to be online at 8 AM EST at exactly 7 months out from your check in date.

I concur, if you want to stay at BCV more often than not, you ought to buy points there.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

 

[Jobelly]

I suppose it would be optimum to buy at BCV and then we can still easily get into SS at 7 months the problem is we can't afford the number of points we would need to be booking for 2 weeks every couple of years.

 

[ELMC]

Thank you all, lots to think about.
I've been on the phone to disney but no one seems to be able to tell me if there is any availability at beach club for the last two weeks of August this year. I thought that would give me an indication of whether we would be able to book at other resorts.
What she did tell me was lots of horror stories about people who didn't but direct from disney being ripped off. Is a bit of a worry but such a big price difference.

This is simply a scare tactic used to steer people into buying direct. They do it because it works. It's like saying that you should only drive to Disney because if you fly your plane could crash. While that's true, it happens such a statistically insignificant amount of the time that it's not really a fair statement.

She said that the company only check the points at the start so people have closed and then went to book their holiday only to find that the sellers have used the points between listing and closing and they're no longer available!

That is a misleading statement. While I am sure that this has happened at some point in time, to represent that as a normal occurrence is not being completely honest. If you are dealing with a broker who specializes in DVC, they are familiar with all the ins and outs of the transaction process. Point summaries are pulled many times during the process. Frequently they are verified at the time of listing, before signing contracts, and then immediately prior to closing. Money is held in escrow in order to prevent the seller from using points and taking your money. It's a safe process, so I wouldn't let fear be a motivator for you to buy direct over resale. Good luck with your contract hunt!

 

[disneynutz]

I suppose it would be optimum to buy at BCV and then we can still easily get into SS at 7 months the problem is we can't afford the number of points we would need to be booking for 2 weeks every couple of years.

Disney is a very expensive luxury vacation. If you are set on vacationing at WDW for years and years, you love the DVC resorts and rooms and buying a DVC interest will save you money, then you should save your money to buy the contract you need.

Bill