calculating points/ other questions

[goofy78]

New question! When do I start the financing application?

 

[Marionnette]

New question! When do I start the financing application?

I can't help you with that one because I paid cash for all of my contracts. But I just wanted to say "Congratulations! And Welcome Home!"

 

[CarolMN]

My offer was accepted! Thanks to everyone with all their info! More questions to come for sure!!!!!!

Congratulations! Good luck with ROFR and the rest of the process.

 

[davedmaine]

So you purchased and you're not sure how you're going to pay for it?

 

[Matty B13]

New question! When do I start the financing application?

I would start right now. Going to take at least a week.

 

[goofy78]

I can't help you with that one because I paid cash for all of my contracts. But I just wanted to say "Congratulations! And Welcome Home!"

Thank you!

 

[goofy78]

Congratulations! Good luck with ROFR and the rest of the process.

Thank you! Crossing my fingers everything goes smoothly! So excited!

 

[goofy78]

So you purchased and you're not sure how you're going to pay for it?

?????? I know exactly how I am paying for it. Just wondering when I put in my financing paperwork. Didn't know if I waited to see what happens with ROFR. Thank you for your concern.

 

[goofy78]

I would start right now. Going to take at least a week.

I got my email and all the information about it. Thank you very much for your info!

 

[MrInfinity]

Thank you! Crossing my fingers everything goes smoothly! So excited!

Where did you end up making your offer? I know you were looking at AK and BW... UY? Points? Congrats!
I have been holding off posting anything about my own, cuz the ROFR process can mean it's a bunch of excitement for nothing. So We've been sitting tight, waiting...

 

[Meandnevaeh]

Thanks for everyone's responses! So I see a contract that looks good for me. I am very nervous to inquire about it. 150 points BWV. States international seller. Does that make a difference? Also I would be interested in renting out my points for the next couple of years. The UY is December with 150 on 12/2016 and 150 on 12/2017. Will that be an issue?

I purchased resale from an international seller, and following the ROFR threads, it didn't seem that it was too far off. You will have to submit your social security number for the firpta tax purposes-but the closing will handle collecting the tax from the sellers and shouldn't affect you in any way. It took maybe an extra week and a half waiting in the sellers to return their docs(needed notarized and such) but delays can and do happen with any seller.

 

[goofy78]

Where did you end up making your offer? I know you were looking at AK and BW... UY? Points? Congrats!
I have been holding off posting anything about my own, cuz the ROFR process can mean it's a bunch of excitement for nothing. So We've been sitting tight, waiting...

The ROFR is making me slightly less excited. But I ended up making my offer on BWV 150 points. UY is December but after reading about UY it doesn't seem to be a problem. All paperwork has been submitted so now I guess I sit back, take a deep breath and wait. Thank you very much!

 

[goofy78]

Question about the 11 month mark. If I wanted to book a stay October 8- 15 when does the 11 month date start? Is it to the day?

 

[_auroraborealis_]

Question about the 11 month mark. If I wanted to book a stay October 8- 15 when does the 11 month date start? Is it to the day?

Yes. So you'd want to book November 8.

You may not have everything in order by then, though, although you'll probably be okay so long as you don't want Standard.

 

[goofy78]

Yes. So you'd want to book November 8.

You may not have everything in order by then, though, although you'll probably be okay so long as you don't want Standard.

Thank you. I actually will plan on renting my points for 2017 or banking them if nobody rents them. That's after I pass ROFR.

 

[Missyrose]

Rent that first year's worth of points and put every dime toward paying down your loan. DVC becomes less of a money saver with every dollar you pay in interest.

 

[goofy78]

Rent that first year's worth of points and put every dime toward paying down your loan. DVC becomes less of a money saver with every dollar you pay in interest.

Absolutely! Exactly what I was planning on doing!

 

[goofy78]

Can Disney take more than 30 days for ROFR? I thought I read "up to 30 days".

 

[CarolMN]

Can Disney take more than 30 days for ROFR? I thought I read "up to 30 days".

You have to submit a fully executed contract for sale to Disney at least 30 days prior to closing. If 30 days passes without action on Disney's part, you would have the right to close. That said, very few brokers or closing companies would be willing to close without the waver (unless the seller really pushes it). They wait for Disney to respond. It seems to be quite rare for Disney to take more than 30 days, though.

 

[miTnosnhoJ]

Can Disney take more than 30 days for ROFR? I thought I read "up to 30 days".

If you read the documents carefully, Disney can exercise ROFR anytime up to the date of closing. They have a practice of exercising or waiving ROFR approx thirty days before closing, which is why a broker will always try to set a target closing date, so that Disney exercises or waives. So it is not 30 days after submittal. It is 30 days prior to closing. In practice, this can look the same, because most brokers will allow 2 months to clear ROFR and Estoppel.