Advice for prospective DVC buyers

[JeanJoe]

I Just wanted to say thanks to all of you who put there time in on this tread, and for answering my questions. On Friday My Family became proud members of the DVC. If it weren't for you all I can honestly say we would not have joined. Your input and positive comments are what sealed the deal. We have also made ressies at the Boardwalk for October and are looking forward to meeting our new neighbors.

Sincerly
Searl Proudbottom
Grass Valley Ca.

Congratulations!

Given your fast timeframe, I assume you bought direct from Disney? Double congratulations on getting BWV in October, during Food + Wine, no less!

 

[TammyAlphabet]

IMHO, the only contracts I would buy on the resale market would be at VB,HH, BCV or OKW. For the the others, you save very little money for the headache you get and they are generally available through Disney right now for 89 per point. You may have to go on a waitlist, but when the points come in. and your use year begins after the month in which you purchase the addon, you get all the prior year points.

For example, to add on 150 points at the BWV with a September use year today, you would get all 04 points, prorated mf's and all 05 coming in September, for 89 per point and no closing costs. I did just this in the current year. 16 days on the waitlist.

If a resale contract has all 04 points, and all 05 coming, and is priced less that the 89 per point with all the closing fees, then you will start to save money over purchasing through Disney. Not alot of BWV contracts have all 04 points intact, and there are not alot of them anyway. And, lets face it, if you save 3 dollars per point, on a 150 contract, that is 450 over the next 35 years or so. Is that worth the !excitement! of the ROFR? Everyone will have their own answer to that.

For VWL and BWV, and obviously, SSR (because of the current incentives), I would go through Disney or at least get on the waitlist for VWL and BWV until I found the right contract. For OKW, HH, VB, you can get a savings on the resale market, and in some cases, substantial savings at VB.

For BCV, the waitlist for those points at Disney is incredibly long, so, I would, as others are doing, snatch those up on the resale market, pay premium over the Disney price for sold out resorts and just grin and bear it, if that is where I wanted to own.

Well, there is my two cents, and I bet some would agree. However, I am sure others would not agree. I plan to add on both ways in the future and I hope, as an owner, that the price per point continues to rise for quite some time in the future.

 

[JimMIA]

bumping for new folks

 

[harleyquinn]

Bumping this awesome thread!

 

[JimMIA]

bumping for new folks...enjoy the quest!

 

[Laurajean1014]

Do it!

 

[reedycreek]

Bumping Again

 

[JimMIA]

Bumping for new readers

 

[JimMIA]

bumping for new readers

 

[TinkABoutIt]

OP's NOTE:

I

1. You REALLY want to stay at a specific resort most of the time.
2. You have specific needs for accommodations which are in limited supply, like Grand Villas or studios with a particular view.

That led us to buy a resale at OKW, but our backup plan was (and is, until closing), buying direct at SSR. We think both of those are great values.


We think the other WDW resorts are also great values, we just think OKW and SSR are just a little better financially right now.

The other big financial decision - in addition to where to buy - is whether to buy resale or direct from DVC. Many buyers are under the impression that they can buy only SSR directly from DVC, but that is not true. You can buy any resort directly from DVC.



In another thread, I think we arrived at a consensus that there really isn't much difference - with resale at resorts other than SSR, you pay a little less for a little less; buying SSR direct, you pay a little more for a little more.

I hope starting this thread will generate some additional comments which will be helpful to new prospective buyers.

This is good to know...we really look forward to being able to experience them all....we don't care about the view, but do need 2 br and may occasionally need a GV.This is exactly what I thought I might do....

 

[JimMIA]

This is good to know...we really look forward to being able to experience them all....we don't care about the view, but do need 2 br and may occasionally need a GV.This is exactly what I thought I might do....

There are quite a few 2 BR's at the larger resorts. I believe allearsnet.com has room category breakdowns by resort, so you might want to look over there. That info is on their Accommodations page -- look on the left margin and scroll down until you hit the DVC resorts. There are also a lot of photos there of the various types of accommodations at each resort.

As far as the GV's go, I'll yield to more experienced hands...but my gut feeling is that the 11 month window would be key to determining where you could get that particular unit. If that is going to be your normal plan, I'd really think about it. If it's going to be a once-every-3/4-years thing, I'd be less concerned.

 

[owtrbnks]

Just wanted to say thanks to JimMIA and everyone else for all the info.
We are planning to buy in July and have narrowed it down to OKW or SSR.

 

[AlaskaMOM]

I'm new to all dvc and am researching buying in. I was looking at ebay (not a serious option, just for info on what's out there) but a real estate company was selling 150 pts BWV with an estimated $585 for closing costs AND another $200 (est.) for new owners "a one time transfer fee" Is this true or are they just tacking on extra fees for themselves?

 

[JimMIA]

I'm new to all dvc and am researching buying in. I was looking at ebay (not a serious option, just for info on what's out there) but a real estate company was selling 150 pts BWV with an estimated $585 for closing costs AND another $200 (est.) for new owners "a one time transfer fee" Is this true or are they just tacking on extra fees for themselves?

First of all, don't buy on eBay. You are going to pay too much there...usually WAY too much.

The transfer fee is a legitimate fee that is paid to Disney; however, it is also a fee that is normally paid by the seller, not the buyer.

Keep in mind that - in a resale - EVERYthing is negotiable.

The default allocation of charges is most often seller pays the transfer fee, realtor's commission (usually 10-12%) and the ROFR fee ($40-45?) - buyer usually pays the closing costs and dues (aka: maintenance fees) on any current year points they will get, but not usually dues on any banked points.

There are a million variations, depending on the negotiations leading up to the sale, but the above is the distribution of costs which is most common.

 

[JimMIA]

Another thing that will become increasingly important is to carefully check out the realtor you are dealing with. If you are dealing with the three you hear discussed on this board, including the board sponsor, you don't need to worry.

But if it is anybody other than those three, I would go to MyFlorida.com (our state website) and look up the realtor's license of the principal of the realty firm. [First, you look up the corporate officers of the realtor; then look for the individual realtor licenses.]

Before you enter into any transaction with someone none of us know, I'd be sure they have not been subjects of some serious disciplinary action. And, if the principal doesn't have a license, that should tell you something. That's all public record in Florida, and it's easy to find.

 

[JimMIA]

bumping for new folks

 

[JimMIA]

Bumping for new folks

 

[DeniseO411]

I just want to say that I went and read this entire thread and it has been very helpful. Keep up the good work!!

Some issues that have been brought up are very helpful!

Looking forward to becoming part of the club!!

 

[stenogoddess]

I'm always in a state of learning on this board! Thanks so much for everyone's input and good ideas!

 

[JimMIA]

bumping for new readers