Advice Welcomed

[LoveMickey]

Hello,

We have an opportunity to purchase a resell from a DVC member.

This seems like a fairly good deal to us, the number of points and the price.

This would be our first purchase and we welcome any advice and/or questions we should ask.

So far it seems simple, she is still awaiting the information from Disney and then we would decide. The next step would be for her to inform Disney of her selling price and wait for their ROFR. Is that right?

Do any of you have advice for us to be aware of? All comments are appreciated.

Thanks, this is kind of a big step for us.

 

[dianeschlicht]

Depending on which resort, you need to be sure the offering price is high enough to pass ROFR. If not, Disney will just buy it at that price, and you will be out.

 

[utahkennedys]

I totally agree about ROFR. It can be very disappointing if your contract does not pass Disney's ROFR. We made sure with our broker that our bid was high enough to pass, and the difference in cost to save a few dollars per point was minimal. You can also check out the ROFR thread here on the boards to get a good idea of what passes and what doesn't (although some of the prices are all over the map!).

 

[BobH]

Make sure you understand what your use year is and whether your points are all still available for you to use. For example if you are buying a 240 point contract with a use year that begins in June and the current owners have already borrowed and used the points you will get on June 1, 2005 you will have to borrow from the June 2006 year if you want to travel before June 1, 2006. My point is that it is a better contract if you have all of your current points available to you now.If the points have all been used it should give you some leeway to negotiate a lower price per point. Maybe you know all this but I thought I'd offer the info just in case. Good Luck.

 

[LoveMickey]

Thanks, it looks like the use year is June 2005 and they have not used any points yet.

 

[dianeschlicht]

Which resort? If this is SSR, there might be an issue with when the points are available. If it is VWL or BCV, there is likely to be a ROFR excersised unless it is a substancial offer. Those two resorts are small in DVC terms, so Disney is more apt to ROFR them.

 

[Tramp68]

*edited to remove a misread quote*

All of the above stuff and also, do not forget to factor in your maintenance costs when deciding if you can afford the size that you are buying. Maintenance costs run between $3.85 and almost $5 per point per year.

 

[Disney Fanatic]

Is it not correct that if you are buying with points available now, the buyer must pay all the maintenace fees on those points?

Something to consider if you do not want to vacation until next year you may not want a contract with points available now.

I think this is how this works but I am new to this as well.