BWV: Through Disney or Resale?

[mrebuck]

We are seriously considering becoming DVC members, and have a strong preference for BWV as our home resort. We will not be financing any of the purchase price. The resale prices seem much lower (in the 80s) than the Disney rates I've seen posted (over 100). Is there any advantage of buying through Disney over resale?

 

[dizney4us]

If you are not already DVC members, I'm not sure you could buy BWV from Disney. They usually have those points for existing members who want to add on, and for BWV and BCV there is usually a waiting list depending on the use year.
That being said..the advantage of buying through Disney and that you wouldn't have to worry about ROFR (right of first refusal), and the closing process is easy and quick. Contracts bought on resale go thru Disney for ROFR and if they want they can buy the points back. The price is cheaper on resales buy quite a bit, but the closing process takes longer. Hope that helps.

 

[drusba]

Particularly if not financing (with resale you have to find it and compare rates to Disney to determine actual value of difference in price), resale is the route for better price. You may have to wait list with Disney if points are not immediately available. Differences are the following which some may or may not consider to be an advantage one way or the other:

1. With resale, price is negotiable as are who pays closing costs. With Disney price is set and you pay closing costs as a new buyer.

2. With resale, you need to understand what you are getting. A resale contract that has all current use year points in it is more valuable than one that has used up all current points and possibly borrowed and used the next use year's points. With Disney you will get current use year points.

3. Resale is subject to Disney's right of first refusal so there is some risk, particularly if Disney considers the sale price to be low, that Disney will exercise ROFR, in which case you get any money put down back and start over looking for a resale.

4. With resale you cannot make reservations until after closing and you have been put into the DVC system and closing can take a month or longer after the contracts are signed. With Disney you can make your first reservation right after you agree to purchase.

5. With Disney you pay dues pro rated through the end of the calendar year (e.g., buy July 1 and you pay 1/2 of the annual dues) and not until after you have closed and then on a monthly basis if you set up monthly account withdrawal. With resale, and unless you have agreed for the seller to pay them, all dues for the remainder of the calendar year are paid by the buyer at closing.

 

[crisi]

Resales may also be bumpy....in addition to ROFR, more than one person has seen their seller back out, or take three weeks to return paperwork.

If you are buying with an eye to staying at BWV for Food and Wine next year in a Standard View, don't start looking for a resale now - by the time you close those standard view rooms will be gone. However, if you call a guide now, you should be able to make your reservations for next October in a month.

 

[bobbiwoz]

If you are able to buy BWV from Disney now, and they had December UY for you, you would get '07 BWV points. Disney will only sell you a contract with current points, and that would be to your benefit at this time of the year.
If you got a March UY, you would get all the '08 points and only pay the MF from this point on in the year.

We have bought from Disney and some from resale, it's just so much easier to go direct.

Bobbi

 

[Belle & Ariel]

We recently bought BWV through resale. We save $19 a point over Disney's price, so our 150 point contract was almost $3000 less. Closing costs were $100 more. I call that a fair tradeoff!
We used **********.com with **** and Jaki. From offer to closing it took almost a month. **** tells me not to say that because it gets everyone's hope up and it's not always that quick. We got a contract with all 2007 and 2008 points. He can find one for you.
One advantage to going through Disney is if you finance, I think it is easier through them than a resaler. Not sure, this is just what I have read here.
Good luck and welcome home!

 

[backyardponder]

If you aren't in a hurry, resale is the way to go. You'll save lots of $$$. We used TTS and were quite pleased.

 

[dudelydude]

Head spinning yet? There is alot of valuable information from the previous posters but let me offer this...If I were you, I would summarize all of the options available, then prioritize what is most important to you. If you want to pay the lowest possible price as your first priority, with no regard for the time it will take to close, than go with resale. If you want the deal done more quickly with a bit less hassle, then buy direct (assuming that Disney has BWV available right now). Maybe you want 2008 points available to you to use quickly or to bank them into next year...this may be more likely to happen with a BWV contract direct through Dinsey.

The very first thing I would do is call a guide and see if anything is available right now through Disney (or how long the waitlist is) to know that this is even an option for you right now. What if you can't get a direct contract through Disney for a few months...this may make resale a better option. BUT if Disney does have BWV available right now, you may want to pay more to get it done right now without the so-called hassle of resale.

 

[DisneyDreamers2007]

We are waiting to close right now on a BWV resale and my personal opinion would be to buy resale because of the total cost savings:
$10,500 from Disney,
or about $8100+$600 closing from Resale (for a 100 point contract)
But be prepared to wait about 2 months from the day you make your offer until you book with Disney. You will have to think about the complications (if any) associated with that depending on when you were hoping to have your first DVC vacation and what room category you want.

 

[JulieWent]

We are the owners of two 150 point BWV contracts. The first we purchased from Disney way back when BWV was new. The second we just closed on last week (from GMAC). Both are of equal value and look identical on our paperwork. If we had purchased our second contract through Disney, it would have cost us $2500 more. Granted, we would have had it immediately. But, the closing process took us less than two months. We waited and looked for a contract that was loaded (had 2007, 2008, and 2009 points). As it turns out, we probably won't be able to use the banked 2007 points or rent them, so that really didn't matter. But we'll get lots of use on our 2008 and 2009 points.

Previous posters are right. If you're in a hurry to book a vacation, you should call Disney. Tell your rep that you want BWV and you won't be talked into SSR, AKV, or BLT. If he / she insists on talking about only those, tell him / her thank you, you'll seek sales in the resale market. He or she will change tunes quickly and you'll be able to purchase through Disney if the contracts are currently available.

If you aren't in a hurry and you can shop around, you'll save money with the resale market and get the same product.

Julie

 

[mrebuck]

Thanks for all of the great information. We aren't in a hurry (we're going to Disney in January on rented points), so that's not a factor. It sounds like resale will be the way to go for us.

 

[GranddadTom]

We bought two 150 point contracts at BWV two years ago through resale. We went with the Timeshare Store and were very pleased. Each was missing some of the current year points but the price more than compensated for the missing points (we figured a value of $10 a point for the missing points). At the time the talk was all about how the low price offers wouldn't get through ROFR - ours sailed through. It did take some time - as I recall it was about 2 months from offer to closing. Like you, we didn't finance either contract.

 

[bangzoom6877]

We're waiting to close on a resale at BWV right now. We did not finance. We chose resale because we were in no rush (first trip "home" will be in July 2010!!), did not need to finance, and it saved us a few thousand dollars. Te contract also had 41 points left from 2008. We will be banking those, and hoping to rent them out along with some other 2009 points (researching that extensively now!). Then in 2010, with banking and borrowing, we will be able to go for 10 nights and also bring my parents, my sister and nieces, who would like to join us for 5 nights (our day of arrive, a sunday, through Friday morning) of our trip. We will have enough points so that each of us has our own room (3 total), and DH, 2 sons and myself get a one-bedroom for our stay!

Anyway, like I said, we were not in a rush. I can't book our trip until August!! We put in our offer the last few days in August and we should be closing soon (papers are already signed, just waiting to hear!).

We used Jaki and **** also and they have been absolutely wonderful throughout everything, and they have stayed in touch to make sure we received everything and it is going smoothly.

 

[Golden Rose]

We bought AKV from Disney and BWV resale. We should close on the BWV contract this week. The AKV process was quick and painless. The BWV has been slower and not terrible, but a bit of a hassle. We saved about $2000 over buying from Disney, and we're getting all 2007 and 2008 points. However, the time we made the offer until closing (assuming we close on schedule this week) will be almost two months. I've heard rumors that we may have a long wait to get the new contract in the Disney computers, but I can't honestly report on that.

We would have bought the BWV points from Disney if they had had our use year available when we asked. Since they didn't, we did resale. I'm glad we saved the money, but it was certainly a quicker and easier process to buy from Disney.

If/when we buy more contracts in the future, we'll probably try to buy from Disney if they have exactly what we're looking for when we are ready to buy... and if there are decent incentives. We're considering a few BLT points, but we're going to use our current developer and banked points next year (and bank most of next year's points to the following year), so we're in no hurry.

Assuming we close on schedule, saving the money makes it probably worth buying resale. But I didn't enjoy the process much.