A lot of DVC Questions...

[lildeb724]

I have decided that it is time to become DVC members. I believe I would like 300 points. The DVC resorts I would like to stay at are WLV and BCV. Should I buy 150 at each place resale or should I buy say 100 at SSR when I am at WDW in may, could I then add on throught the DVC or buy more by resale at WLV or BCV? I also might want to own at Vero Beach or HH, can I buy say 25 points at each so I can book 11 months out? Or is this all crazy and I won't have a problem get a reservation 7 months out say for Christmas week. I would love opinions. Thanks in advance

 

[Scoootch]

Okay...if you mainly want VWL or BCV's then I'd say go for a re-sale if you can. It's more likely to be less $$ (you'll need your own financing though or cash) and because these are sold out resorts you'll be able to obtain them. You could buy 100pts at SSR but keep in mind that you will only have the 11month advantage at the resorts where you own points. If you add on say 50pts at VWL you will only be able to book those 50pts at VWL until you hit the 7month mark. You won't be able to book all 150pts that you own between SSR and VWL at 11months. So if you'd need to book at 11months out (which depending on time of year and resort you are trying for you will) you should try for enough points to book what you're looking for in your home resort.

Hope this makes sense to you. And yes...depending on where you're trying to book for and size villa...Christmas week will most likely be difficult at 7mos out. So again, home resort advantage will come into play as well as having enough pts to cover the stays. The other thing to keep in mind is that if you want 300pts as you've given an example of ...if ever you want to sell, you cannot break up a contract. If you want to sell a portion of those they would have to be separate...meaning for example you could sell say 100pts of the 300 if you had 2 contracts of 150 or 3 contracts of 100 each.

Best of luck. HTH's some

 

[Scoootch]

Forgot to add...the sold out resorts you speak of have waiting lists too...BCV's from what I read this morning is at a minimum a 7month wait if not up to 2yrs so resale for those may definetly be the better way to go. The advatage though buying through Disney is no closing costs and they will finance you. But there's that pesky waitlist.

 

[LIFERBABE]

Hi and Welcome,

The minimum purchase is 150 points, when you purchase from DVC. You can purchase a small add-on thru resale and once you are a member, you can buy contracts as small as 25 points (cash) from DVC.

So you wouldnt be able to purchase 100 SSR points as your first DVC purchase from Disney but if you could find one on the resale market you could.

 

[ColoradoBelle1]

That was a great comprehensive answer Scootch!
I could only add that if you go through resales and not Disney...you will pay less per point BUT you have to add in closing costs that can be $500 or more, depending on if you use a realtor with their select closer or manage to do it all without brokers...So 50 points at $75 per point could end up being $85 per point once you figure in closing costs of $500.

Buying from Disney costs more but closing costs are included.
Bigger point contracts (300) are usually lower cost per point and the closing costs are spread over 300 points...so a cheaper buy in.

Hope this didn't confuse you more, but many contracts that looked good to me initially, didnt' look so good once I added in the hidden , I mean costs!
CB

 

[Scoootch]

The minimum purchase is 150 points, when you purchase from DVC

Oops...that's true too...wasn't thinking about that

 

[lildeb724]

The Timeshare store shows resales at WLV as high as $81 a point to 74 a point. Why such a big difference?
Also so if I own 150points a WLV I can only book 150 of them 11 months out - So if I wanted to use 300 and I have say another 150 points at BCV, I can't book the additional 150 until 7 months out?
But say I have 150 banked at WLV and another 150 for the current year, that I could book 11 months out correct?

 

[Scoootch]

Also so if I own 150points a WLV I can only book 150 of them 11 months out - So if I wanted to use 300 and I have say another 150 points at BCV, I can't book the additional 150 until 7 months out?

Yes - EXACTLY!

But say I have 150 banked at WLV and another 150 for the current year, that I could book 11 months out correct?

Yes again

The Timeshare store shows resales at WLV as high as $81 a point to 74 a point. Why such a big difference?

I supposse because the seller will try and get as much as they can for their pts. and VWL is a well desired one. Plus they have to sell high enough to pass ROFR and that is more up there with what Disney is selling for I guess. One person may have time to wait for the right buyer and for the higher asking price compared to someone who may be in a hurry to sell too

 

[GCM13]

That is correct. You can bank and borrow to make your reservations at your home resort at 11 months out.

The differences in price per point for the same resort for resales is due to some contracts have more points to offer. Some may not have points available until 2006 while some may have banked points. Those with banked points will likely ask more per point.

 

[lildeb724]

1st- what is ROFR?
2nd - I live in NY, do not need financing, where should I be looking for resales with the lowest closing costs?
3rd - Where do you close - do you physically have to be there?
4th - Will I need a lawyer like a house closing?
5th can i get a deal if I buy two resale at once?

 

[Scoootch]

Disney has what's called Right of First Refusal (ROFR) ...they can buy back the point contracts that are up for resale if they feel the price is too low. It basically means they always have first dibs.

You can look in lots of places ...one of which is The Timeshare Store who sponsers this message board. If you click on the link at the top of the board you can see the resales they have There are other places though like ebay, and a few others that at the moment the names are escaping my mind I'm sure other's will chime in and post though about other places as well as the answers to the rest of your questions.

 

[ColoradoBelle1]

Easiest to do a Google search to find available Disney resorts....some good deals out there!

Don't need a lawyer for Florida properties. I was told that you do for the HH property in SC...lawyer title searches are more expensive.

Someone posted here about a closing company that is cheaper than the standard...@$250 and they are in florida but I can't remember the name.

Don't have to be at closings...all done by email nowadays.

buying two resales , two different contracts, two different closing costs.
BUMMER.