Beaten to death - $58.00 too low?

[ClarabelleCow]

I know this subject had been beaten to death, but is $58.00 too low to get by Disney on a Vero Beach contract? I'm looking for 90-125 points, don't know if DH is playing games with me or not!! But he said if I can find one for that price we can get it. I know I will have to play closing costs, and deal with maintenance. But should I even bother to pursue this?

 

[dianeschlicht]

Don't know specifically about Vero, but I would think that would be too low! That would be lower than the initial buy in when Vero opened!

 

[childsplay]

Anything is possible....it took Disney years to sell out VB, and of all the resorts I would think that VB would be the least likley to be bought back....but $58 is pretty low...even if you come into the low sixties (let's say $63) your only talking about an extra $500 for a 100 point contract, spread out over the course of the next 38 years what is that, $12/ $13 bucks a year?

Offer $58 and tell your broker that if Disney exercises their ROFR that you would like to counter offer, if your broker knows up front you are willing to do this you should be given that opportunity.

Good Luck with your decision

 

[ClarabelleCow]

Interesting, my BIL has stated over and over that they bought in at Vero at 52 per point??? Sounds like someone was embelishing a little!!

 

[Richyams]

Maybe not. Disney had a VERY hard time selling VB points. They resorted to disgusting lies and misrepresentations to get rid of those points. The resort is barely a shadow of its original plan, it was drastically cut in size when it became apparent that there was no interest.....they were giving away free points with breakfast at Olivia's for a while.

I could believe that a $52 offer got past ROFR.

 

[ClarabelleCow]

They are stating that they originally bought in at Vero for $52 per point? What was the lowest the points every sold for? I know they did get free passes when they bought. Maybe with some sort of magical beginning?

 

[goldilocks_63]

You should know about ROFR in about a month.... and if it doesn't go thru, you can always try again on another a little higher...

I'd try it, and see what happens....

Goldi

 

[ClarabelleCow]

Just got off with the timeshare store, I was told that once it goes to ROFR, you cannot counter, if Disney decided to take it, your done as a buyer, the seller makes out, because they have already agreed on the price. Hope DH is in a good mood tonight when he calls in (away golfing for week!!!)

 

[calypso*a*go-go]

I know from very recent experience that you do have some time to counter offer. If DVC decides to exercise ROFR, they normally give the seller a day or two to actually proceed with the sale. It is during that timeframe that a counter offer would have to be made. In our case, as soon as we heard DVC wanted to buy back the resale we were interested in, I immediately sent an email to the seller with a copy to the title office and DVC stating our intention to counter offer. The seller received notification that DVC would only deal directly with them. That was fine but at least it got the ball rolling and they knew of our intentions. Go for it and see what happens. Whether it gets snapped up by DVC or not, you can always try again. There seems to be a huge amount of VB points available out there so just decide what your "do or die" timeframe is and plan accordingly.

Good Luck!

 

[DebbieB]

Originally posted by ClarabelleCow
Interesting, my BIL has stated over and over that they bought in at Vero at 52 per point??? Sounds like someone was embelishing a little!!

Was that resale or direct? At one point they were giving $15 per point for magical beginnings at VB. So $67 - $15 would be $52. It was $67 per point around 2000.

For resales, when I bought in 1999, some resales were in the $55 range (DVC was $65).

 

[ClarabelleCow]

WOW - maybe my BIL was telling the truth - go figure!! Thanks for all the help, when I speak to DH tonight, I will hit him with all this, hopefully he had a good day of golf and will be in a good mood - he's out in Scottsdale playing at the Anthem Country Club today then off to the Boulders course tomorrow!

 

[PamOKW]

Vero Beach opened in October 1995. On July 1, 1995 DVC points were raised to $62.75 and stayed at that price until roughly January 1999 when they went $65 per point. If your BIL took advantage of a Magical Beginnings promotion maybe he paid around $52 ($52.75)?

 

[ClarabelleCow]

So, if a contract that originally was purchased in October, November or December of 1995 would it have the reduced maintenance? And would that reduction transfer to the new buyer?

 

[PamOKW]

People who purchaed prior to Jan. 1, 1996 pay lower yearly dues because it is calculated based on the original planned build-out of the resort. My understanding that these contracts do retain this advantage. I'm not sure whether there is any end date to that subsidy -- possibly not. (Later contracts, had a cut-off date built in or didn't get the subsidy at all.)

The current Timeshare Store Vero listings seem to average at about $65 per points with prices running from $60 ( one 250 point contract) to $70 per point. You'd have to inquire about whether the original contract is eligible for the reduced dues. It seems like it might be tricky to find a contract that is the right size, low priced and has the dues advantage but it doesn't hurt to give it a try.

 

[Vince]

Yes, the assessment credit does transfer to the new buyer, I am 100% positive about this, I just read some old documentation on this the other day. I believe these somewhat rare contracts have the lowest association fees in the whole DVC program if I am not mistaken.




-Vince

 

[pumpkinboy]

Clarabelle, I have been following your saga closely, as we have been doing the same types of calculations. We looked and wondered about smaller contracts selling in the low $60s. We really wanted to have this year's points available, so stripped contracts were not gonna happen (I also resented the kind of prioces being asked for stripped contracts). In the end we decided on the easy path of calling our most excellent DVC guide who lined up an 80 point contract that matches our current Use Year; added bonus was that we could make reservatiuons using the points within an hour. After adding in closing costs, most of the resale contracts were approaching the $75 deal DVC was offering, so why bother with the hassle, IMO. Now a $58 per point deal might be decent, and worth the trouble. Good luck and see you @VB (we'll be the redheaded family with the 6 yr old DS in the wheelchair).

 

[Jacksmom99]

Hey pumpkinboy, I love your sig line! I grew up in Windham, ME and now live in Norton. My father still refers to DH as a "flatlander"

 

[PamOKW]

Originally posted by Vince
I believe these somewhat rare contracts have the lowest association fees in the whole DVC program if I am not mistaken.

$.0051 less than OKW! LOL! They win by a hair (a nose would be too much). But, they would be a good buy if you are purchasing Vero.

 

[Doug Wolfe]

I was just looking at points for sale on one of the resellers on the web.

Although most of the contracts were from $65 - $68 per point, I found a couple of sellers that were only looking for $60.

I guess just about any amount can be found if you wait long enough.