buying points from a friend

[mellormousee]

What Do I Need To Do Or Contact If I'm Going To Purchase Points From A Friend Without A Sales Rep? Is It Difficult? Its Only 50 Points. Any Help Or Suggestions Is Greatly Appreciated.

 

[BillM]

If you are renting 50 points from a friend you need to have the friend make a ressie in your name and then pay him for the price per point you have agreed to. If he is a good friend I would not think you need to draw up a contract. No sales rep needed.

If you are talking about transfer of points to you, your friend needs to call MS and request the transfer and furnish the info to MS regard to your membership. Again no sales rep needed.

 

[5forDiz]

I don't know if I am understanding your question correctly but I get the impression you are talking about buying your friend's contract and becoming the owner of that contract - is that correct ?

If that is in fact the case, I Think that this contract will be subject to Disney's ROFR process just as if the contract was being sold on the resale market. So then there would be the possibility that Disney could step in and opt to exercise their right to buy this contract back from the seller. Then you would have to find another DVC contract on the resale market that you would like to purchase or you could also buy a contract direct from Disney.

 

[dianeschlicht]

When you are doing a timeshare resale, it is much the same as buying any other real estate. It goes through all the same steps. The complicating thing with DVC is that Disney has ROFR on all sales. That means that they have to approve the sale, and if they think the price is too low for the contract, they might excersise their ROFR and buy it back from the owner at the offered price. For that reason, you might want to make sure you make a good sound legitamate price offer based on not only the number of points, but whether or not there are banked points etc. Check the ROFR thread on these boards and see what the lowest cost is that passes for the resort these points are at. You will definitely save money if it passes, because you wont have had to use a broker, so no broker's fees.

 

[CarolMN]

It's against DIS policy to use these forums to advocate illegal actions or promote ways to get around Disney policies.

Those posts that did so and any posts that quoted or referred to them have been deleted.

 

[dudelydude]

It's against DIS policy to use these forums to advocate illegal actions or promote ways to get around Disney policies.

Those posts that did so and any posts that quoted or referred to them have been deleted.

I was one of the posters that made a suggestion that worked around the system, which was deemed illegal activity. My apologies. While trying to be helpful, I wasnt' thinking about how illegal my suggestion was.

 

[dianeschlicht]

I must have missed those, because I thought I was one of the first to answer!

 

[Princess Roo]

I'm curious, too, about how difficult this transaction is. Has anyone here done it without an agent? It would be nice to avoid commission and some of the closing costs, but I'm wondering if you would need to hire a lawyer and have other costs that would make it almost the same price when dealing with a small-point contract, anyways?

 

[Dean]

I'm curious, too, about how difficult this transaction is. Has anyone here done it without an agent? It would be nice to avoid commission and some of the closing costs, but I'm wondering if you would need to hire a lawyer and have other costs that would make it almost the same price when dealing with a small-point contract, anyways?

Actually it's quite easy. For a friendly purchase arrive at a verbal agreement, then put it to paper with each party signing and dating it. Send the contract to DVC for ROFR. If there's anything missing in the contract they need to have included, they'll tell you and you can redo it if necessary. If they waive ROFR, you then need to prepare a deed or have one prepared, and submit it to the county (usually Orange County) along with the state form for the Doc stamps (all the info and requirements are on their website) and the ROFR paperwork. Once you have the recorded deed back, you need to send a copy to DVC along with their change form. There is some question about whether you can send the deed not recorded to DVC for the change. I know they used to accept the non recorded deed and I now they require the recorded deed if you're just changing the names, not sure if they're require the recorded deed for everything now or not, some have said not.