About to buy resale...

[plamp]

Looking at OKW, 210 pts at 74 point, plus closing, plus I pay 2004 maint fee, but includes 420 points with 210 coming in June 05. Is this a good deal? Help me not get cold feet!

 

[laceemouse]

Sounds good to me!! Good luck! We are considering an add-on right now. Let us know how it goes with ROFR.....Lacee

 

[plamp]

bump

 

[CarolMN]

Originally posted by plamp
Looking at OKW, 210 pts at 74 point, plus closing, plus I pay 2004 maint fee, but includes 420 points with 210 coming in June 05. Is this a good deal? Help me not get cold feet!

It sounds quite good to me! here's why -

Appears that all of the 2003 use year points were banked into 2004. That means that they will expire on 5/31/2005 if you don't use them.

Since you did not have to pay any maintenance fees for 2003, those points have an estimated value of $2100 (at average rental price of $10/point). That's like getting the 210 point contract for $64/point plus closing. Buyer almost always gets to pay closing.

I view paying/reimbursing for 2004 annual fees fair since you will have the use of the 2004 points.

Hope it passes ROFR - with all those points available, Disney might think it's a good deal, too!

Best wishes -

P.S. If you think you will have trouble using all those points right away, you'll still be able to bank the points that were issued on June 1, 2004. The 100% banking deadline isn't until the end of November, 2004. You should close long before then.

 

[RuthnPaul]

Originally posted by CarolMN Hope it passes ROFR - with all those points available, Disney might think it's a good deal, too!

I agree with Carol that having banked points is like icing on the cake! We just passed ROFR in mid-August at VWL; it had 370 points banked from 2003 and we will get 370 on 10/1. It's very hard to figure out what will or will not pass Disney these days, although contracts seem to be going through faster with Disney exercising ROFR much less than it was the end of August/early September! Good luck!!

 

[jeankeri]

I got 125 banked points on my contract. Since they are expiring before our next trip I rented them on the rent/trade board. The $ will pay for our park passes. Also brought down the $ per point.

 

[jastza]

We just purchased a similar contract! 270 points at OKW with all of 2003 banked. We paid $73 per point and 2004 MF. We had no problem with ROFR at he end of July. It only took 8 days. I hope it all works out for you and your only problem is how to spend all those points!

 

[plamp]

Thanks for all the feedback. I will be sending in the papers this week and I'll update you all on the ROFR.

 

[plamp]

I have decided not to go ahead with our resale purchase since I don't think we would make the trip from NY to Disney often enough to make it worthwhile. Also, it was going to be a big strain on our household budget. We are planning a trip to WDW this Spring, but after that probably would not return for another 4-6 years.

 

[CarolMN]

Originally posted by plamp
I have decided not to go ahead with our resale purchase since I don't think we would make the trip from NY to Disney often enough to make it worthwhile. Also, it was going to be a big strain on our household budget. We are planning a trip to WDW this Spring, but after that probably would not return for another 4-6 years.

Given those circumstances, you made a good decision. DVC is not right for everyone.

Best wishes -

P.S. If you are willing to rent points, you could still stay in DVC accomodations for your spring trip without making a committment for the next 38 or so years.

 

[plamp]

After more thinking and thinkin and thinking (I have become temporarily obsessed) and discussion with my wife we have decided to proceed with the resale. Am I crazy?
Personally I know I could enjoy going to Disney often. I was concerned because traveling the last few years with the kids (5, 8, 14) has not been easy. I want my 14 year old to be able to have a few trips to Disney with us before he gets too old to vacation with us, and I'm sure my little ones will enjoy more as they get a little older.
Also, my wife has three sisters, who may also take advantage of our points.

 

[Beca]

I think you will LOVE your decision!!! We bought, and thought we were buying PLENTY of points!! Now, less than 6 months later, we are adding on!! Our contract ALSO came with banked points, and we really cannot use our current year's points...so, we rented them out, and put that money in on a NEW CONTRACT!!!!

I am ALREADY planning at least 2 trips to WDW each year. WDW has been our "vacation spot" of choice. Honestly, in our 12 year marriage..we haven't taken a vacation that was not WDW or DL...but, we haven't taken that many of them (about 4 total). This purchase was to FORCE us to take vacations now that we have a 2 yr old DD...she will be gone before we know it....and, I want as much "special" time with her as I can get!!! I think the more you have (points-wise), the more you end up going....and, with three kids, that can NEVER be a bad thing!!!

Lots of airlines run REALLY cheap specials from NY to MCO (so much so that we are really jealous here in PHX). Just get signed up to get emails from them, and START PLANNING!!! Your kids will love it, and you will have lots of wonderful memories with the most special people on earth!!!

Enjoy...it sounds like you got a GREAT contract!!!



Beca

 

[plamp]

The Timeshare Store received my deposit and signed contract today. I see from the ROFR thread that I should call TTS to keep things moving and get info. I figured I'd call in two weeks, or should it be sooner?
The tentative closing date they mentioned was 10/25. If I'm DVC member by November will I have any problem getting a 2BR for the last week in April (OKW preferred)?

 

[RuthnPaul]

Originally posted by plamp I see from the ROFR thread that I should call TTS to keep things moving and get info. I figured I'd call in two weeks, or should it be sooner?

plamp, once the contract goes to Disney, I don't believe the resale broker has any influence in getting this moved through ROFR quicker. I suppose it doesn't hurt to call in a week or two to see if they've received word from Disney on ROFR.

 

[laceemouse]

April is the tail end of Spring Break, HOWEVER, next year Easter is early, March 27th, and WDW is most busy right around Easter. I think your chance for late April at OKW are very good! Good luck....Lacee

 

[CarolMN]

Originally posted by plamp
...(snip)..... If I'm DVC member by November will I have any problem getting a 2BR for the last week in April (OKW preferred)?

Probably not. OKW is currently the largest of the on site DVC resorts, has more 2 bedroom units than studios or 1 bedroom units and the last week of April isn't among the more difficult periods to book. You should be fine.

Good luck -

 

[klmnluvdis]

great choice!!! when we added on 2 yrs ago so now have 300 pts we will never use them all...I have borrowed every year since..we love okw gv's and always bring fam or friends to enjoy it as well its great to go home!!!!2 more weeks yeah

Lori

 

[xanderlong]

I just bought 300 points at Vero on Aug 1. I called the next week for a trip the first week of October and had no trouble getting a reservation for a 1 bedrrom at WDW. Good luck