Buying resale & Reputable retailers?

[vbalacek]

Thanks to everyone for all of their great advice. I've made a decision to buy. There are 2 different (but similar) contracts I am deciding between with 2 different resellers, but had a few questions about buying resale. Persons on the board keep discussing "reputable retailers". Are there "known" good/bad retailers? Has anyone had any particularly bad experiences buying? Is there anything in particular you should look out for in a retailer? Any special questions that should be asked?

Also in the resale process, is it acceptable to bid below asking price? Are buyers expected to pay the current years dues? Dues for banked points? Or is this all negotiable?

Thanks again for all of your great help. I hope to put a contract in next week!!!

 

[Happy Birthday Cat]

Everything is negotiable but generally the buyer pays for closing in most cases. Just remember that Disney can take it from you if the deal is too good.

In a re-seller, I would be aware of ones who don't respond to phone calls or e-mails. I have heard of one like that on these boards.

The sponsor of this site, The Timeshare Store has glowing recommendations as does A Timeshare Broker who I bought my resale through.

Good luck and have fun.

HBC

 

[RuthnPaul]

We've purchased 2 BWV contracts for which we paid full asking price. Our decision was based on the fact that all 2004 points were available and there were also banked points on both contracts. If the contracts you are looking at don't have any or all of the current year points, I feel you could probably offer a bit less than the asking price. Your resale agent will be able to tell you if he/she thinks the offer is too low.

In addition to the 3 major Orlando area brokers, we've been working with a broker out of the Houston area - Rii Stroman (www.stroman.com). Teri, our contact there, called us today about a 450 point BWV contract at $67 per point. That's a great price but makes me wonder if this contract would make it through ROFR.

I'm also sending you a PM...

 

[helenabear]

Like HBC, I would be wary of with someone who didn't return my calls, e-mails and all that. I had two that responded to me, but I had a better gut feeling with the one (the agent I spoke with was much more personable). Nothing against the other agent as I hear they have done great things, but I felt a little more at ease with the one I went with. If I had spoken with other people who knows where I would have gone, because like you, I had two similar contracts that I was going for. I asked both the same questions and intentionally wanted to see who I felt comfortable with and who explained everything better to me.

I didn't bid below the asking price (but you are always welcome to) however I did ask that they pay the 2004 maint since the points were in reservation status. They agreed to that. The cost was already low as it was (for me $68/point) so I wanted to make sure I didn't go too low. Buyers are expected to pay maint on all current available points. It is totally normal to ask them to pay the maint on any used points from the current year.

Good luck!!!

 

[tamu91]

As stated on previous responses, Disney can exercise their ROFR on any given deal. However, I believe the broker you are dealing with should have a good idea if the deal you're offering, if accepted by the seller, will pass ROFR or not.
The resale I purchased, I'm still waiting on Disney, was listed @ $71/pt. It was VWL resale for 250 Dec points with 70 banked points from 2003. I first offered $67/pt and they countered with $69/pt. I asked if we could meet in the middle so we settled the deal @ $68/pt. I wanted to at least split the closing cost and this is the way I worked it out.
Disney, when considering ROFR, reviews the entire deal meaning they will consider banked/borrow points, who's paying the closing cost, tranfer fees, etc. so you'll have to decide how much is fair depending on your points situation. Good luck on your purchase