Buying resale from the UK - procedures & timescales

[Tink2312]

Hi,

We're over in FL at the moment and despite having settled myself to adding on at the Poly in 2014/15, I have come to the conclusion that I'd actually prefer BWV and I'm now in the active hunt for a resale contract. Although I love the Poly, as I already have my main contract at BLT, I would like something a bit different for an add-on. Also, i think the nightly point cost will just be a bit too high for the size of contract I'm looking for (about 100 points). Anyway, I bought my first contract direct so I have no experience with resale. I am looking at going through a reputable company which many on here seem to have used, but a lot of the comments on here are from US buyers and i wanted a UK perspective.

Can someone advise as to what the procedure is and the likely timescales involved? I know the contract has to go through ROFR - does that normally take a few weeks/ a month? Also, did those of you who bought resale wire the funds or use some other method (I think I saw Fairfx mentioned somewhere??)?

Thanks in advance

 

[Paula Sedley-Burke]

Hi. I have not bought resale so ignore this if not helpful but we nearly did but bought the DVC we wanted from Disney direct because they do still sell the older DVC resorts. The price is higher than resale but we were offered a good deal so we took it. Just didn't know if you knew that or not. But good luck with resale have wondered about it ourselves!

 

[Tink2312]

Hi. I have not bought resale so ignore this if not helpful but we nearly did but bought the DVC we wanted from Disney direct because they do still sell the older DVC resorts. The price is higher than resale but we were offered a good deal so we took it. Just didn't know if you knew that or not. But good luck with resale have wondered about it ourselves!

Thanks for your response. I've looked into buying direct again but at the moment, BWV is around $35/ point dearer than buying resale and as I'm looking at 100 points, resale is too much of a saving to pass up. Thanks again

 

[Paula Sedley-Burke]

Thanks for your response. I've looked into buying direct again but at the moment, BWV is around $35/ point dearer than buying resale and as I'm looking at 100 points, resale is too much of a saving to pass up. Thanks again

yes that is a yummy saving. Would love to hear about your experience if you do go ahead. Good luck! Paula

 

[Tink2312]

yes that is a yummy saving. Would love to hear about your experience if you do go ahead. Good luck! Paula

Absolutely, more money to be saved for flights etc. I'll definitely post about my experiences - I hope they're positive (fingers crossed)

 

[Paula Sedley-Burke]

Absolutely, more money to be saved for flights etc. I'll definitely post about my experiences - I hope they're positive (fingers crossed)

fortune favours the brave! do let me know!

 

[Tink2312]

Just a brief update - had an offer accepted for BWV, got to pass ROFR now! Offer made, accepted and contracts signed all in the same day.
Also, the Law of Sod rears it head and our rental request for BCV came through on the same day for our Oct trip so if the BWV contract passes ROFR, we'll have plenty of points to play with over future years (the BWV contract isn't stripped).
A tense month or so to follow - i'll never forgive Mickey if he takes my contract from me

 

[Samaya]

Just a brief update - had an offer accepted for BWV, got to pass ROFR now! Offer made, accepted and contracts signed all in the same day.
Also, the Law of Sod rears it head and our rental request for BCV came through on the same day for our Oct trip so if the BWV contract passes ROFR, we'll have plenty of points to play with over future years (the BWV contract isn't stripped).
A tense month or so to follow - i'll never forgive Mickey if he takes my contract from me

Best of luck with ROFR, just been reading on another board that the rate of refusal in recent months has been low so fingers cross it stays that way for you.

 

[Tink2312]

Best of luck with ROFR, just been reading on another board that the rate of refusal in recent months has been low so fingers cross it stays that way for you.

Thanks, I really hope so

 

[Tink2312]

Just a quick update, found out I passed ROFR - woohoo! It only took 24 days after submission. Now onto closing...

I am now officially an owner at BWV!!!

 

[Samaya]

Just a quick update, found out I passed ROFR - woohoo! It only took 24 days after submission. Now onto closing...

I am now officially an owner at BWV!!!

Congratulations on your add-on.

 

[Tink2312]

Duplicate post.

 

[Tink2312]

Congratulations on your add-on.

Thanks Looking forward to factoring my new points into my future trip planning!

 

[tinkerpea]

I'm guessing everything was pretty easy? I was wondering as you have brought direct and re-sale what it is you suggest to do?
We have been looking for ages at buying dvc and since trips have gone up sooo much really want to take the plunge now!

Thanks

 

[Tink2312]

I'm guessing everything was pretty easy? I was wondering as you have brought direct and re-sale what it is you suggest to do?
We have been looking for ages at buying dvc and since trips have gone up sooo much really want to take the plunge now!

Thanks

Sorry for the delay, haven't been checking the Dis (shock horror!). We're just about to close. Funds have been wired and documents signed. That's roughly 8 weeks since putting in the offer.

Direct was definitely quicker and less "work" on my part, but it also came with a higher price tag. It's hard to sway someone one way or the other but if I was buying my main contract again and buying at a resort currently being actively sold, I'd buy direct. Many will no doubt have a completely different opinion but in doing so, you get to choose exactly which use yr and the amount of points and there's less to-ing and fro-ing regarding the contract, not to mention less waiting and scouting. However, if you're looking at one of the sold out resorts then I'd go resale no question. It's so much more per point to buy direct and many of the older resorts have a waitlist. Why bother? Shop around for the amount of points and use year you want, keep an eye on the current ROFR data and what is passing for the resort you're interested in and then make an appropriate offer on a contract when it comes up. Don't be afraid to do a bit of bartering and, if it's not the right contract and price, don't be afraid to wait and bide your time whilst the right one comes around. Similarly, if it's the right contract, don't be swayed by trying to get a steal only for it to be ROFR'd. If it's right for you, make a reasonable offer (not one where you'll end up losing the contract over a few $ per point). Also, think about making the contract more beneficial to you in other ways than price - i.e. seller pays closing, seller pays dues etc. In the end I paid a few more $ per point than I was thinking of doing originally but I asked the seller to pay the dues on the 2014 points, which saved quite a bit up front and was the equivalent of the amount per point I would have preferred to pay.

I hope you manage to find what you're looking for

 

[duffdo]

Is there a particular company that you dealt with in order to buy resale? I really like the idea of DVC and there is no minimum buy in with resale. A 120 point contract at SSR would get us two weeks every other year in a studio at most times of the year. That would be at a price were I reckon the break even point would be within 15 years, staying in value resorts! I stayed at SSR last year on a cash reservation and I couldn't fault it.

 

[Tower of terror]

Hi
Just wondering what the advantages of owning points from different resorts are? Also, I presume they can all be added together for one holiday?
Thanks
Alan

 

[Tower of terror]

Hi
Where did you buy resale from please, also with regard to use year what do you mean exactly? I have seen AK advertised at $85 per point, I was thinking of offering $75 per point, would that be too low do you think? Also how do you find out how many rofr are being refused or not?
Thanks
Alan

 

[Tink2312]

Is there a particular company that you dealt with in order to buy resale? I really like the idea of DVC and there is no minimum buy in with resale. A 120 point contract at SSR would get us two weeks every other year in a studio at most times of the year. That would be at a price were I reckon the break even point would be within 15 years, staying in value resorts! I stayed at SSR last year on a cash reservation and I couldn't fault it.

I used The Timeshare Store and I would use them again. No minimum buy with resale.

We stayed at SSR twice before buying and loved it. That definitely convinced me that buying in was right for us.

Hi
Just wondering what the advantages of owning points from different resorts are? Also, I presume they can all be added together for one holiday?
Thanks
Alan

Home resort booking priority. You can book your "home" resort 11 months out, whereas you can only book 7 months out for your non-home resorts. For the more popular resorts, room categories and times of the year (I.e Boardwalk villas, standard view studio during the Food and Wine festival or Bay Lake Tower standard view throughout the year) the home resort booking priority makes a lot of difference. The mantra is always, buy where you want to stay.
As for combining, that depends on whether the two contracts are for the same use year - if not, you can transfer the points between the contracts (you can only do this once/ yr though) or you can link the different reservations (I.e. I make a 10 night ressie at WL villas, 6 nights booked with 1 contract and 4 with the other and then "link" the two.

Hi
Where did you buy resale from please, also with regard to use year what do you mean exactly? I have seen AK advertised at $85 per point, I was thinking of offering $75 per point, would that be too low do you think? Also how do you find out how many rofr are being refused or not?
Thanks
Alan

Use year basically means the month when your points renew. My use years are both just before I normally take my holidays. This is important as you have to bank any points you don't plan on using no later than 8 months after the start of your use year (I.e points for an August use yr must be banked by 31 March) to enable them to be used the following year. By having a use yr just before you normally travel, if you need to cancel your trip, you'll still have plenty of time to bank your points.

The reasonableness of the price per point will depend on whether the contract is loaded (has points available/ banked from the previous year) or is stripped (has little/ no points remaining in the current year) and how many points are being purchased (generally, the smaller the contract, the higher the price per point). I checked the ROFR thread on the purchasing DVC board on here and also the Mouse owners site was very useful. Also, your broker will be able to advise what is likely/unlikely to pass ROFR.

Good luck

 

[leise]

We have used Timeshare Store to bug resale from the UK on two separate occasions and would use them again (if only ) . Very easy, did it all by email, very straightforward and professional.