Buying DVC Resale Questions

[Golden Rose]

We just bought AKV from Disney and are looking at adding on some BWV points. We can probably save a couple thousand going resale... but I have a few questions. (Of course, I think I'm going to get more points resale than I would have bought from Disney, so I'm not actually going to save any money!)

1) Will I be able to treat a new resale contract as an add-on to my existing contract if I get the same UY? If so, do I have to do anything special during the buying process to link them?

2) Realistically, am I looking at about a two month process right now from making an offer to actually having points to spend?

3) How should I price a resale offer? Just slightly higher than everything I can find that has been ROFRed recently?

We're not really in a rush... but I have been keeping an eye on various resale boards and have recently found almost exactly what I wanted. Should I go ahead and get it since it is a loaded contract with my UY and roughly the number of points I wanted to add, or should I just bide my time and wait for prices to drop lower due to the economy? We don't actually need the points for next year since we have the developer points to spend and we're already planning two trips next year.

On a side note - my mom's actual reaction to my suggestion that we go ahead and buy the resale contract (since I happened to find what we were looking for) was "Um, does that mean we have to take a third trip next year? I don't want to go three times next year." My response was "Well, we could change our second trip and throw all the non developer points at a Disney Cruise, that will eat them up!"

 

[DVC Mike]

2) Realistically, am I looking at about a two month process right now from making an offer to actually having points to spend?

Once you have found a resale listing you like, you make an offer on it. Once the price is accepted by the seller, a contract is sent to you for your signature.

After both the buyer and seller sign and return the necessary documents, everything is sent to DVC for ROFR. Disney can take up to 30 days to review the contract and make a decision whether to exercise their Right of First Refusal. Disney generally makes their decision in less than 3 weeks.

Once Disney waives ROFR, the title company will do a title search on the property, order a title insurance policy and request an estoppel report from Disney. The estoppel report is what the title company uses to put together the final closing documents. When the closing documents are ready, the title company will send them to both buyer and seller. They need to be returned along with the final funds due from the buyer.

Once the closing is completed (it can take up to 8 weeks), the title company sends the purchase information to DVC and it then takes Disney 7 to 10 days to put you into their system as the owner of the contract.

It is at that point that you can call Member Services and make your first reservation.

Of course, with all the back and forth, there is ample opportunity for further delays. On the other hand, sometimes the process can take less time.

 

[JimMIA]

1) Will I be able to treat a new resale contract as an add-on to my existing contract if I get the same UY? If so, do I have to do anything special during the buying process to link them?

Resale contracts are what they are. You can LOOK for one with the same UY, but you cannot change the UY. My contracts are the same UY, but I don't think tracking two would be a big deal.

2) Realistically, am I looking at about a two month process right now from making an offer to actually having points to spend?

That's a decent ballpark estimate. I haven't been following it closely (and people who have just gone through the process can possibly tell you), but my sense is that Disney is moving ROFR's a little quicker than they did a year or two ago. So you may get through quicker.

3) How should I price a resale offer? Just slightly higher than everything I can find that has been ROFRed recently?

High enough to clear ROFR. Don't be silly over $200! A reputable and experienced DVC resale specialist should be able to give you good guidance.

I bought through TTS and asked them about offering $1 less than the asking price. They recommended that I pay the full price on that contract ($73), which I did. My contract cleared ROFR, but two or three others priced at $72 were ROFR'd.

 

[KAT4DISNEY]

As far as the price to offer if I really were willing to wait a year or slightly more to get a contract but saw a contract that pretty much fit the bill I'd put in an offer, but probably just at or a little bit lower than what has been ROFR'd recently and see if the seller accepts. If you can handle that it might get ROFR'd then at least you tried. And if it passes - then you have your points and you have a deal and don't have to wonder so much about if prices drop in the next 12-18 months.