Buying from Disney vs Resale

[shawnjennym]

I have spend hours reading threads...this info is probably somewhere but I can't find a consise discussion.

What is the main advantage/disadvantage to buying new verses resale?

Someone somewhere said they bought other TS and then are adding on Animal Kindgdom points later so they can book there. I am not sure what they meant.

Thanks in advance.

By the way, is there anywhere to see what all these abbreviations mean that people are using?

 

[crisi]

Buying from Disney:

The process will be smooth and predictable.

Disney will get you financing.

Your guide will let you book as soon as they have the deposit and before you close.

You may have to fight or waitlist to get any of the resorts Disney is not actively selling, but it is doable.

They usually send a gift - a totebag or lithograph or something.....


Resale:

You can usually get a lower price - particularly right now when a lot of people are feeling the economic pinch and getting rid of DVC.

All resorts are available.

The timeline and success may be unpredictable. The seller could decide not to sell. The contract could get snapped up by Disney (Disney has "right of first refusal" - meaning they get to buy at whatever price has been negotiated). Finding a contract, making an offer, and closing might take as little as a month - or could take four. You can't book until you are in Disney's system - about a week after close.

You can buy small contracts resale (Disney will sell you whatever their current minumum is - 160 unless there is still the 100 point promotion available).

You can easily find sold out resorts.

You'll likely have to arrange your own financing if you need it.

Once you are in the system, there is no difference than having purchased through DVC in terms of benefits.

 

[christa112]

You can sign up with the TS and they will send you emails when new properties come up for sale. I get them usually on a daily basis. You can also go to their site and browse by property or by price.

I will base my decision on purchasing by the incentives that DVC will be offering. If they are good, then I most likely will purchase through them.

 

[shawnjennym]

Very helpful...thanks

 

[chalee94]

Someone somewhere said they bought other TS and then are adding on Animal Kindgdom points later so they can book there. I am not sure what they meant.

if you want to book AKV at 11 months, you need AKV points. this is critical for concierge bookings since there are only 5 concierge 2BRs available. don't know what else they could have been talking about...

By the way, is there anywhere to see what all these abbreviations mean that people are using?

http://www.disboards.com/showthread.php?t=1178774

 

[DisneyisGr8]

I bought directly from Disney, but if I had it to do over again I would buy a resale. The price is so much better. I have friends who bought resales and they have been very happy. Good Luck!

 

[Silly Little Pixie]

So if I buy directly through Disney, I don't have to wait to book until after closing? That could be key as I am about 7 1/2 months from a planned trip.

 

[CarolA]

I have done it both ways.... Just depends on what the best deal is.

For my small point add ons the closing costs/hassle factors often made it a toss up to go direct. For my intial large purchase the cost savings on resale made it a no brainer!

 

[thepops]

with the latest incentives, buying direct is very close price wise to buying resale!

 

[Silly Little Pixie]

I've been looking at a resale contract with a December UY. But with the new incentives, I'm looking again at direct.

My question is, if I buy direct in April, do I get points now? October is my ideal UY. So would I get 160 now and 160 in October? Or no more until October 2010? What if I choose December?

 

[Silly Little Pixie]

Bumping to get some answers from the morning crew around here...

 

[5forDiz]

To previous poster : I believe if you buy direct from Disney choosing BLT and even AKV-Kidani for a Home Resort then your first allotment of points would be for 2009 Use Year ( on 10/1/2009 or 12/1/2009) but you could make a reservation using those points for dates between now and the beginning of their respective 2009 Use Year as long as for AKV points the reservation begins on or after May 1 2009 (Kidani's opening date) and using BLT points the reservation begins on or after Aug 1 2009 (BLT's opening date) - you could not for example, use BLT points for a reservation at BWV that begins on July 15 2009 because the points cannot be used at all prior to that resort's opening.

But if, let's say, you want a reservation at BWV for Nov 15 2009 and your Home Resort is BLT and Use Year is December you would be able to call MS on April 15 to book BWV (this is first day of 7 month booking window to use 'non BWV' points to book a that resort) - MS would ~borrow~ into 2008 UY points needed to cover this reservation from your December 2009 UY allotment of points.

You may want to check out resale contracts at earlier resorts where you may find 2007 Use Year points banked into 2008 Use Year - "loaded" contracts that would give you 2 years worth of points to use with an October Use Year from 10/1/2008-9/30/2009 or with December Use Year from 12/1/2008-11/30/2009. Then on Oct 1 or Dec 1 2009 you would get 2009 Use Year allotment of points.

 

[redrosesix]

Is it true that Disney doesn't charge closing costs? If not, what are they?

Any information you could give me on costs over and above the price of the points would be helpful, since we live in Nova Scotia, Canada, and DVC cannot send us any information here.

 

[DISHoppy]

Is it true that Disney doesn't charge closing costs? If not, what are they?

Any information you could give me on costs over and above the price of the points would be helpful, since we live in Nova Scotia, Canada, and DVC cannot send us any information here.

No. There are closing costs either way. Our DVC rep last week said $300-$400 for closing on BLT or AKV minimum points. In addition to the points cost, you also need to factor in the maintenance fees on an annual basis. Our rep kept harping on the low MF cost for BLT ($3.62), which is the lowest of the DVC resorts.

-Kevin <== long time lurker, first time poster.

 

[palhockeymomof2]

No. There are closing costs either way. Our DVC rep last week said $300-$400 for closing on BLT or AKV minimum points. In addition to the points cost, you also need to factor in the maintenance fees on an annual basis. Our rep kept harping on the low MF cost for BLT ($3.62), which is the lowest of the DVC resorts.

-Kevin <== long time lurker, first time poster.

Wow...when we did our initial purchase & 2 add on's thru disney we were not charged any additional closing costs...disney paid them

 

[nyck]

There are closing costs but Disney pays it if you buy from them. I have 2 contracts from them have never paid closing costs

 

[redrosesix]

Is it true that if you purchase DVC while staying onsite at WDW, you can get a discount on your DVC purchase?

 

[Saratoga Souris]

I did not pay closing costs on either my initial contract or my add-on when I purchased from Disney directly.

Also.... beware of "stripped contracts" when buying resale. Re-sale can be a "good deal" but just be careful.

 

[hopare]

There are closing costs but Disney pays it if you buy from them. I have 2 contracts from them have never paid closing costs

I am in the process of closing through Disney and there are closing costs. Total is about $343 if financing and less if not financimg. These figures are on a 160pt contract at BLT. They work the closing costs in with the down payment.

 

[JPete]

I'm talking to them (haven't made a decision yet) and was told closing costs are not negotiable. i was quoted around the same - $300+ for 160 pts.