Best way to get into the system?

[irishbacker92]

I am very interested in becoming a DVC member. At this time i really can't swing the upfront costs for the 150-160 point minimum. My plan was to purchase a resale of 25-50 points and then I would get in the system. I could rent points, make my own reservations, get discounts on AP's etc. Then if I wanted to add on in the future I could do that. The problem is these contracts are usually stripped, and or very hard to get-waitlists etc.

My question is, I have a friend who is a DVC member, could I have him buy the exact contract that i want as a add on and then have him sell it to me? How would a transaction like this be completed in the most economical way?

Thanks for any info you can share!

 

[Chuck S]

In answer to your question, yes, an existing member could by a small add-on and sell it to you. However, it would have to pass Disney's ROFR, and then have a title transfer and be recorded by Orange County...so be aware that this would most likely be more expensive than buying a resale contract through a reseller, and would take longer.

 

[Deb & Bill]

If your friend bought a small contract and decided to sell it to you, it would still have to go through Disney's ROFR process. If your friend sold it too low to you, Disney would buy it back at that price. They would have to sell it to you at the price they bought it from Disney so that they wouldn't lose any money as well.

You can always rent a reservation from someone. If you owned points, renting a reservation would not give you control over the reservation (you don't rent points, you rent a reservation, the points stay under the full control of the owner). You would need a transfer from another member and members are limited to one transfer in or out a year.

If you want a smaller contract, let all the timeshare resellers you can find be aware of your request. And be prepared to buy it the moment that they call you. Smaller contracts go very quickly and don't usually have much negotiation because everyone wants them.

 

[irishbacker92]

Thank you for your advice and the taking the time to respond!

 

[salmoneous]

My question is, I have a friend who is a DVC member, could I have him buy the exact contract that i want as a add on and then have him sell it to me? How would a transaction like this be completed in the most economical way?

Creative thinking - I like it.

But keep in mind buying a minimum-sized contract is going to be very expensive per point. Your friend gets no discount on a 25-point contract, so will have to pay $104/point (note - it's possible Disney will have points at one of the old out resorts that it will sell for a cheaper price.) You are going to have to pay your friend more than he paid for it, or risk ROFR. So let's figure at least $105/point, or $2,625. Then you have to pay closing costs on top of that - figure at least $375. So you are at $3000 for 25 points, or $120/point. Ouch!

I think it would be much better to wait for a smaller contract via resale at one of the less popular resorts. Here are two current listings from one site:

Hilton Head 50 Oct All 50 points coming on 10.1.07! $75 $3,750
Hilton Head 100 Oct All 100 coming on 10.1.07! $72 $7,200

Now, you have to ad closing costs on top of that. But, still. For a little more money, you get a lot more points.

 

[PinGirl]

I am very interested in becoming a DVC member. At this time i really can't swing the upfront costs for the 150-160 point minimum. My plan was to purchase a resale of 25-50 points and then I would get in the system. I could rent points, make my own reservations, get discounts on AP's etc. Then if I wanted to add on in the future I could do that. The problem is these contracts are usually stripped, and or very hard to get-waitlists etc.

My question is, I have a friend who is a DVC member, could I have him buy the exact contract that i want as a add on and then have him sell it to me? How would a transaction like this be completed in the most economical way?

Thanks for any info you can share!

We found a contract we liked that was not stripped - 07, 08 and 09 points available and the price was reasonable! We are not using it till next year - so it was perfect for us. My sister who has been DVC for years even told me it would not pass ROFR and it did! Be patient! maybe try GMAC? Also Which resort are you considering? Where do you want to stay? Buy where you want to stay. There are some great Resale contracts out there - take your time and you will see one you like!

Also buy at your own pace. It does require more patience - but staying within your own budget you will feel more comfortable and better about your purchase!

I agree with everyone else about ROFR from your friend...might as well just find one for yourself!

 

[Laxmom]

Irish, thanks for asking. I am wanting to get into "The Club" also so this has been a really helpful thread.

 

[El&Asmom]

Keep an eye out, and get on the lists at the brokers to have a better chance to find a small resale.
We were able to buy a 50pt HH with all 06 points banked and all 07 coming. I know people say not to buy into HH or VB, but we are very happy with our purchase and actually look forward to spending more time at HH than WDW in the future as we love the outdoors and that area.
The contracts are out there, and are a great way of gettting into the system. Good luck.

 

[Laxmom]

We love HHI. We already have a hotel based timeshare on HHI and in Orlando but have decided our first DVC purchase will be HHI. We want to be able to spend more time there with occassional trips to Orlando with the option of staying on property. We will be at another TS on HHI early next year; may try to visit the property to check it out.

 

[bmoncher]

I am very interested in becoming a DVC member. At this time i really can't swing the upfront costs for the 150-160 point minimum. My plan was to purchase a resale of 25-50 points and then I would get in the system. I could rent points, make my own reservations, get discounts on AP's etc. Then if I wanted to add on in the future I could do that. The problem is these contracts are usually stripped, and or very hard to get-waitlists etc.

My question is, I have a friend who is a DVC member, could I have him buy the exact contract that i want as a add on and then have him sell it to me? How would a transaction like this be completed in the most economical way?

Thanks for any info you can share!

I bought a 25 point contract on resale and with all the "added costs" - closing etc ended up paying roughly 94 per point...

 

[Jaaron2]

We bought our 100 pt contract the minute it hit the market (BCV). It only had 2 07 pts available but had an April UY (so we didnt have to wait long in 08 to get the points) Combined with the fact we already have a stay planeed at SSR for 10 days in Nov / Dec and this worked out real well for us.

It does seem that smaller contracts at certain resorts are very hard to come by (i.e. 100 pts or less).