BWV - 300 pts $8200 - Deal or No Deal

[agsmith]

Hi all. I'm new here and to this whole DVC thing. I'm 31, married with no kids. My father and stepmother are going thru a divorce right now, and they offered to sell me their Boardwalk property with 300 pts for what they owe on it, which is +/- $8200. I'm wondering if this is a good deal or not, and if so, has anyone gone through a situation like this before? How does this all shake out? Thanks for any advice you may have.

 

[julia & nicks mom]

Current resale on 270 points (the highest I could find) is $21,870.00

That is an AMAZING deal!!! IF you don't want to buy them - let me know!!

 

[chalee94]

it will get taken (ROFR'd) by DVC at that price.

they could get more by raising the price around $60 per point and letting disney take it that way...

i know DVC will waive ROFR for a gift to family, but not sure what they will do if money is involved...?

 

[agsmith]

REALLY?!? Well, we've been thinking about it because we plan on having kids in the next few years, and my wife's family is in Fla., and this would be a great "grandparent getaway" opportunity. The grandparents could also watch the little ones while mom and dad go out at night too!! The resale value is a pleasant surprise and I think has iced my decision...where does one go to find these prices BTW?

Thanks again!!

 

[agsmith]

it will get taken (ROFR'd) by DVC at that price.

they could get more by raising the price around $60 per point and letting disney take it that way...

i know DVC will waive ROFR for a gift to family, but not sure what they will do if money is involved...?

Good to know....maybe we'll have to structure it as a gift, and then pay my parents to pay it off....would that work?

 

[julia & nicks mom]

Good to know....maybe we'll have to structure it as a gift, and then pay my parents to pay it off....would that work?

That seems like it would work

http://www.dvc-resales.com/

 

[Claire L]

I am sure your father and step mother could transfer it into your name, and you could come to some arrangement re the fiancial aspect privately.

Claire

 

[Caskbill]

Contact DVC. I'm sure they will waive ROFR under the circumstances, even though there is money involved. Since it's below market value, it probably still fits the definition of a gift.

 

[agsmith]

That's all great info...thanks guys...I look forward to spending some more time on here after this takes place.

 

[disneymotherof3]

I would jump all over that!!!!!!! I agree though that it would more than likely get ROFR'd by Disney. I would definitely call and talk to Disney to see what they say. If they say no, I would just pay your parents and have them pay Disney.

Man......I wish I could get a deal like that!

 

[bwvBound]

Just a thought -- you may want to verify if the "300 points" is annual allocation or simply the current balance. (Does the contract receive 300 points every year ... or does it receive 150 points having both new and banked points currently available?)

 

[agsmith]

Just a thought -- you may want to verify if the "300 points" is annual allocation or simply the current balance. (Does the contract receive 300 points every year ... or does it receive 150 points having both new and banked points currently available?)

It's actually 300 annually, they have 482 banked right now

 

[bunny]

Do you they want to adopt a 39 year old lady with two kids??

But a little more seriously, if you rented those 482 points at $11 per point, you could pay for most of the contract.

 

[disneymotherof3]

It's actually 300 annually, they have 482 banked right now

WOW!!!

That is an AMAZING deal!!! IF you don't want to buy them - let me know!!

Let me know too! I would definitely be interested.

Hey julia & nicks mom...maybe we could split them if the OP doesn't want them.

 

[MamaKate]

I'm jealous

.

It's a great deal and I hope it works out for you .

 

[agsmith]

Thanks all. I may be renting the 482 to cover as much of the contract as possible, ($5302 @$11/pt)...$8200 isn't exactly chump change for me, and I'll be putting it on a CC.

Also what is the annual maintenance fee? Is it based on number of pts? I was told it's about $1200 or so...is that right?

 

[crisi]

Thanks all. I may be renting the 482 to cover as much of the contract as possible, ($5302 @$11/pt)...$8200 isn't exactly chump change for me, and I'll be putting it on a CC.

Also what is the annual maintenance fee? Is it based on number of pts? I was told it's about $1200 or so...is that right?

I'd plan on about $5 a point and increasing. I can't remember what they were exactly at Boardwalk this past year - I want to say around $4.75 - but they have been going up each year. That would be $1500 on 300 points.

This is a really good deal, but it is a big contract and a big committment in terms of dues.

 

[LSchrow]

if you are on any sort of budget, you might want to consider having the dues taken out of your checking acct monthly, instead of paying that lump sum each year (at $5pt, you would owe $125 a month ~ a lot easier to handle imho).
like others said, have your dad or SM call member services, but it'll probably be best to "gift" the points, & set up a repayment privately.

sounds like a "once in a lifetime" opportunity ~ congratulations
(tho i am sorry about your dad & SM, at least something wonderful may come out something so sad)