Buying Resale

[carol1231]

Hello friends,

I received the email yesterday from DVC regarding the new cruise incentive for adding on. Well, the cruise doesn't really spark my interest, but it did get us thinking of adding on which we hadn't thought we would be doing anymore. We have added on six times in the past 11 years, all add ons have been done thru DVC. In most cases it was because we needed points immediately for an upcoming trip. Once the prices went over $100 per point, we figured we had enough points and it didn't matter what the price went to, we were good. Well, now we want more.

So, I'm thinking resale may be a good choice for us. There are a couple of contracts that are appealing listed on TTS site and will call them tomorrow, but would like to be educated before calling. What is involved? I understand the ROFR process, but are there other costs? Do I pay closing fees or anything else? How long from once I make an offer do I have points to use?

Your help is appreciated. Like I said, I would like to know what I am talking about before I make the call tomorrow.

Thanks!!

 

[Sandisw]

I just purchased a resale contract through them. All the costs are part of the negoiating process.

The rep I worked with, Jamie Carr, is great and can walk you through everything. She was wonderful and explained everything in great detail

I called on a Sunday night (Jan. 4th), made an offer on the contract, and she contacted the buyer that same night. I found out in about 1/2 hour that they accepted my offer (I payed both closing and MF for 09--some people ask sellers to pay some or all of those).

It went to Disney for ROFR a few days later. I heard in about 2 weeks that we passed and then closed in about a week. The whole process took just under 1 month--we closed 2/2/09

As far as the points, we showed up as memebers in the system within 5 days (though this is a lot quicker than some people have said it took them). I didn't have any current use year points as part of my contract, so I don't have any to use right now, but the contract was listed when I logged in on February 9th. Hope this helps!

 

[Chuck S]

Just something else to consider in a resale:

If the resale is titled exactly the same as your current contract, and if it is the same use year, Member Accounting can put the resale under your current membership number. But be sure to inform them of this desire prior to closing.

If the resale is a different use year, or is titled differently, it will be a completely separate membership, and the points can not be easily combined with the other membership at 7 months (if different resorts) or 11 months (if same resort.)

That said, resales can save $$, but be sure you know in advance whether you want it to be part of your current membership, and look for the appropriate use year.

 

[carol1231]

Thank you! That is very helpful. And the process sounds like it is faster than I thought it would be. I will give them a call in the morning. I appreciate your help!

 

[carol1231]

Thanks Chuck! I am definetly looking for my same use year, I don't think I have the patience to keep track of another. But I didn't realize that I would need to notify them of combining with my other contracts prior to the closing, that is very good to know.