Anyone buy their points outside of Disney?

[Carl Aird]

Anyone buy their points used? If so what were the Pos and Neg
I was told by my current Disney agent that sometimes they sell point packages short?

 

[luvindisneyworld]

Not sure what you mean used.Are you talking about buying resell?

 

[TisBit]

Sounds like he was referring to the resale market and buying from a contract from another owner. He probably meant that they were "stripped" contracts....as in the points for the current UY were already gone and even possibly the next UY had been borrowed and used as well. In that case, you might have to wait two years before you would get a deposit of points. There are both stripped and loaded contracts out there. Loaded contracts might have the prior years points banked....then the current UY intact, etc. Pricing on the resale market takes this into account (generally cheaper for a stripped and more for loaded).

If you look at the resale listing through the Timeshare Store though the link at the top of this page, you will see that it tells you when points will be available, etc.

 

[Carl Aird]

Yes I ment purchase from Time shae store or someone else
what are the Pos and Neg

 

[iloveokw]

We love the Timeshare Store.

PROS: You can buy for less
You can buy "sold out" resorts (would have never bought DVC at SSR or AKV)


CONS: Have to pay closing costs
Disney has ROFL if too low
Takes longer to get "in the system"
Deal might fall thru

Most of our points (we have 910) came thru the Timeshare Store - we paid cash for all so I don't know if Disney has better interest rates.

Just my two cents

 

[Carl Aird]

THANKS!
Have you ever been refused?
Has anyone use GMAC?

 

[luvindisneyworld]

Well we have been a seller on the market and everything went very smooth.I am hoping that it will go that smooth with the contract we have now for sale.
Disney did pass on the last one.So i hope when the time comes this time everything will be as smooth,if that time ever comes,LOL.

 

[Buckeye Fan]

THANKS!
Have you ever been refused?

No. We offered asking price of $84, but asked sellers to pay closing costs GMAC fee (see below). We paid MFs since we were buying in January and contracts had most of their points. At that points in time, Dis was buying back SSR contracts that fell below the $81 or $82 mark.

Has anyone use GMAC?

Seems almost everyone has a positive experience with the Timeshare Store. GMAC seems to get more mixed reviews, but we had a great experience with them. We purchased 2 contracts and didn't have any problems whatsoever. I will say that I think GMAC is great at the point of sale. However, for those who have never been through the resale process, there wasn't a considerable amount of communication after the offer/acceptance, which makes newbies very anxious. It certainly did me, but I had no problem sending notes anytime I felt like it to get a status on what was going on and what was next in the process. I'm telling you, the lady I worked with was a saint, as I'm sure she felt her day wasn't complete without my call or e-mail!

Here was my resale experience:
* Made offers on 2 contracts through GMAC on 1/9 and offers were accepted same day. Also sent a $100 deposit for each on 1/9. That's all that was required until closing.
* Contracts went to Dis for ROFR around 1/16 (sellers took some time getting their docs signed and back to GMAC)
* Passed ROFR on 1/31.
* Estoppels came back to GMAC on 2/17. This allowed the title company to prepare the closing docs.
* Received closing docs on 2/20. Returned everything to GMAC on 2/21.
* Deed was recorded through Orange County on 3/7.
* We were in the system 7 days later.
* Booked first vacation on 3/21.

Had I purchased through DVC, I would have been in the system within a day or two of signing the papers. Things to remember about resale...maintenance fees, other fees (GMAC has a $195 fee) and closing costs are all negotiable. The better the contract, the less people are willing to negotiate. You have to look, but you can get GREAT contract via resale. Our 120 point contract had 120 banked '05 points, 120 '06 points and all '07 points coming when we purchased in January of 2007.

 

[dbprimeaux]

The Timeshare Store is AWESOME !!!!

 

[simzac]

We bought our OKW contract from the Timeshare Store. Everything went great and would definitely use them again myself.

 

[becca-becca]

Well we have been a seller on the market and everything went very smooth.I am hoping that it will go that smooth with the contract we have now for sale.
Disney did pass on the last one.So i hope when the time comes this time everything will be as smooth,if that time ever comes,LOL.

What do you mean by Disney passed on the last one? I thought if Disney didn't like your price they would buy it back instead and re-sell it themselves.

 

[luvindisneyworld]

They didnt buy it back they let it pass through,They waved Right of First refusal.

What do you mean by Disney passed on the last one? I thought if Disney didn't like your price they would buy it back instead and re-sell it themselves.

 

[MEK]

We love the Timeshare Store.

PROS: You can buy for less
You can buy "sold out" resorts (would have never bought DVC at SSR or AKV)


CONS: Have to pay closing costs
Disney has ROFL if too low
Takes longer to get "in the system"
Deal might fall thru

Most of our points (we have 910) came thru the Timeshare Store - we paid cash for all so I don't know if Disney has better interest rates.

I agree with this. I bought my current contract at Saratoga Springs through the time share store since it was $81/point. It did take much longer than I thought. I started the process in September and was not completely in the Disney system until late November/early December. My first offer did not pas RoFR. I would recommend going to their web site and taking several days to scan the available resales. That way you can see what is available and get a sense of what you should be paying. There are some nice loaded contracts on there from time to time and they get snatched up really fast. When I add on points I will likely do it through the timeshare store.

 

[Carlos_Montana]

I agree with Mek too.

 

[nunzia]

THANKS!
Have you ever been refused?
Has anyone use GMAC?

I just responded to this on another similar thread. Yes, I used GMAC with no problems, good price per point, but high fees, all of which I had to pay as the seller refused. A good experience and so happy to be able to own DVC.
Just be aware that some people have had problems with GMAC. My purchase went very smoothly and I would use them again if I didn't want to go through Disney for some reason.

 

[crisi]

We bought a resale six years ago from "one of the other people" - if you google search DVC resales, you'll come up with several options that are neither Tom (who I've never heard anything bad about) or GMAC - and to find the right contract, extending your search may be a good idea. Note that some of these are good and some of them aren't so good - most of them "star out" on the Disboards.

We did have our first offer fall through in that the owners decided not to sell after all. Also, it wasn't unheard of on a "good" contract for the owner to get several offers when the contract went up or for that contract to be sold but not yet removed from the website. It will take longer than going through Disney (except for a BCV resale for which I think there is a waiting list through Disney, but contracts come up for resale all the time).

 

[LisaS]

Anyone buy their points used?

There is no difference in your accommodations or the length of your contract if you purchase a contract on the resale market rather than directly from Disney (assuming the same resort in both cases) so the term "used" does not apply. It's not like buying a used car vs. a new car. The resale contract will have the same expiration date as a contract for the same resort purchased directly from Disney.** You will get the same accommodations in both cases -- you do not get to stay in a brand new villa if you purchase from Disney and a 10 year old villa if you purchase a contract on the resale market.

You do need to look closely at how many points you will get. Some resale contracts have been "stripped" of points, meaning there are no banked points, most/all current Use Year points have been used and some/all of next year's points have been borrowed and used. On the other hand, there are some "loaded" contracts out there as well: banked points from last year, all current UY points and all of the next UY's points available. Most contracts fall somewhere in between.

** ETA: There is one exception to this. At the moment, if you purchase OKW on the resale market the expiration date on the contract will be Jan 31, 2042. If you purchase OKW directly from Disney, they are selling extended contracts so the expiration date will be Jan 31, 2057.

 

[robinb]

I bought two contracts and sold one through the Timeshare Store. I would recommend that you call them and tell them what you are looking for. They will call you when they see a contract which fits your needs. Many contracts are snapped up before they even hit TTS's website. I know that one that I bought never did and my OKW contract was sold within a day of listing it was TTS.

 

[mikron]

Anyone buy their points used? If so what were the Pos and Neg
I was told by my current Disney agent that sometimes they sell point packages short?

Yes we bought 500 points in to memberships from the Time Share Store in OKW. Payed $70.00 per point in 2005, we bought OKW for the price, size of units and you can book anywere.