Can I buy DVC without my husband?

[bsusanmb]

• 
  
  Hi, I am headed to WDW in September for 2 weeks, have rented points at VWD and BCV to get my husband to see how wonderful this really is - we've gone to Disney every year for at least 3 weeks for the past 12 years and he won't go to the DVC presentation -
  Anyway, I am a professional woman with a decent income. Can I buy without him?
  When I go to the presentation, can I go wtihout him?
  Will I be expected to put money down that day? If so, how much? Do they take a check?
  After I give them a check or downpayment, when will I find out if the financing went through?
  Does Disney sell resales? Is it best to go through them with the resale or one of the others like I see on this board?
  I have one issue on my credit report, which I have explained - and have my credit up to date - Western Union lost a mortgage payment a couple of years ago and the mortgage company didn't notify me until I was supposedly 4 months behind - they were holding the rest of the payments in "suspense" - it took me two months to track downt he lost money - so that is all that appears on there . Is Disney easier to do financing with than one of the timeshare resale realtos?
  I see this ROFR - what is this? Everyone seems to say - yes, but did you pass this ROFR?
  I really appreciate any information - all iformation you can give me. I want to know all of the loops holes before I get into this and I want to be successful.
  I like to go to WDW in Oct and in early Feb. So what month do I want to purchase? Feb would be my first choice.
  Thanks a million!
  
  The PA disney fanatic
  Susan

 

[Laurabearz]

You do not need your husband on the contract if you can swing it yourself...

ROFR is Right of First Refusal... something Disney does when resale point prices are too low.

Currently Disney is really only selling SSR so if your interested in another resort as your home resort you need to find a resale contract. The TImeShare store is a sponser of this site and I also recomend Jaki at www.atimeshare.com.

Keep reading here... and asking questions!

Have fun researching!

 

[WithDisneySpirit]

I can only answer a few of the questions, so I will leave the others to the experts

I certainly believe you are on the right track to enticing your DH to go with you to the presentation since he will already be enjoying the wonderful DVC accomodations

That said, I believe this kind of purchase can be made by you alone. Your only worry might be if you ever divorced, could he make a claim to half of your DVC? A happy marriage of course, makes this a moot point

Disney is selling SSR but I know they will sell add-on points at the other resorts depending upon availability. Sometimes, I've even heard that people went on a waitlist to purchase at the other resorts instead, but they may have stopped that altogether. You can buy a resale on the open market through a broker or privately.

We bought through the Timeshare Store and the whole process was pretty painless. You will have to be somewhat patient because it takes a while and you do have to pass ROFR which stands for Right of First Refusal.
Disney has ROFR to prevent DVC from being sold for very low prices; this also gives Disney add'l points to sell current DVC members who request add-on points

From what I have heard, even though your credit issue is a rather big one, Disney tends to approve most of their financing since if you don't pay, you will lose your points and they will re-sell to someone else. Also, at the two year mark and beyond, your credit will begin to improve more and more

That is about ALL I know

Lisa

 

[CarolAnnC]

Does Disney sell resales? Is it best to go through them with the resale or one of the others like I see on this board?

As stated, Disney does not sell resales. If you choose to go to a resale broker, you will have to obtain your own financing elsewhere. Disney of course, will finance their contracts and are quite forgiving in their approvals. For people with some questionable credit issues, it has been reported here that Disney may sometimes ask for a higher downpayment, but seems to be quite lenient in their approvals. That is most likely since they can recoup the points if someone reneges on their financing.

 

[Doug Wolfe]

Yes, you can buy without hubby.

He won't go to the presentation? I'll bet he goes on the trips with you once you have it.

Yes, they will take your check. They'll even take your credit card.

DVD is very easy on the credit. That one payment will not make a difference.

No, you don't have to buy right away. But, they'll probably make a nice offer for you to buy while you are there.

Go to the DVC website and order the free video. Watch it with your hubby. There is no sales pressure that way...which is probably what he is afraid of. It's at www.disneyvacationclub.com

I have a March use year and it is very easy to manage.

Good luck and tell your husband I said to "grow up!"

 

[Laurabearz]

I wanted to add... once you do the DVC presentation, it has been reported you will then have only 3 days to lock in whatever offer they give you... I forget the current deal.

So if and when you tour, make sure your ready to sign on the dotted line.

 

[disneydiz]

In 1997, we both went to the DVC presentation. After a year of trying to talk my DH into buying, I purchased on my own. However, he then wanted to go on trips and golf. Since he was not an owner, he was not able to purchase the golf discount card offered thru DVC. In 2000, he had to pay about $200 to add his name to the contract.

 

[bsusanmb]

AHA, that really got him, huh?

My husband is a famous "doubting Thomas".

When he found out how inexpensively I rented points from a DVC owner, he was pretty amazed.

I think that when anyone hears "TIMESHARE" it sends a cringe.

I bought our last car myself in my name. What I thought was rather humerous was the salesmanager asking me right before they gave me the car, "Are you sure your husband won't be upset and make you bring it back?" I am 54 years old. The loan was in my name - oh, brother.

One other question, the maintenance fees - do you pay those separately?

 

[disneydiz]

I have the maintenance fees debited from my checking each month. Some people pay them yearly.

 

[Lexxiefern]

Yes you can buy by yourself. I did We own 2 contracts together and then I got a third one on my own.

As far as use year, I would think either a Feb or Oct use year would work well for you if those are the times you travel (probably Oct being better).

With resales they don't do financing, so you would have to find your own (2nd mortgage, line of credit from bank, convenience check from credit card written to yourself, etc)

Good luck, I hope we are welcoming you home soon!!

 

[JimC]

You can put your deposit and contract purchase on your credit card if you want. Nice way to build more miles/points or credits.


By the way, in our family a trip to disney without the husband (me ) would be a major breach of protocol. We both love our DVC and Disney!

 

[Simba's Mom]

The only question I can answer is about going to the presentation yourself. I had no problem doing that (except that the driver who came and picked me up was surprised that DH wasn't with me). My guide, Glenn, was very helpful-treated me just as cordially as if I'd been a couple. The only drawback was that the presentation took longer since he and I were both anticipating every question DH might have. By the way, it paid off for DVC-although DH had no interest in attending the presentation, he was quite willing to buy, and is now a huge DVC fan.

 

[Rence]

Actually whether or not you can buy without your husband is somewhat dependent on your state of residence. Many folks posted above that they were able to buy without their husband and is most states this is true. In some marital property states it would not be possible.

I live in Wisconsin and the husband's signature would be required. I believe that there may be one or two other states with similar laws. If you look at a lot of credit card applications you will notice special provisions for Wisconsin and a few other states.

You may be able to title it in only your name, but Wisconsin still considers all property obtained during the marriage to belong to both partners equally. Again, not an issue in most states, but is an issue in a few.

That being said, I am sure that Disney knows the ins and outs of the various state laws and would know if the signature is required. They are great at working through anything. If you were to fall under these provisions, I would bet that they would allow you to sit through the presentation, sign the papers etc. and they would overnight the papers to your husband for any required signatures.

With regards to financing, my partner had some bigger negatives than you on his credit report. We were told that if there is a major problem, they may ask you to up the down payment to 20%. We were going to put down 20% anyway so it wasn't an issue. I believe I remember reading a post from someone a while back with major credit issues that was able to get financing but had to go to 30% down. So financing is available, but you may need to up the down payment.

 

[bsusanmb]

WOW, what is wrong with your state? I would be insulted if I had to have my husband sign everything etc. I make more than he does! I also control our finances - gees, well anyhow, we've been married more than half our lives, so what's mine is his and his is mine - just don't want to start the proverbial argument about going to the presentation. He might go, but he would be reluctant to buy anything - he hates any kind of financial issues - so it's best to leave him out of it.

So if I were to want 150 points at SSR, what would be the downpayment of 20%?

I know I am not good with this - it's all new to me. I am used to just forking over the money to the mouse at our vacations -

Oh, BTW, his big issue is that if we really want a vacation, we always have the Shades of Green - as he is retired USAF.

My issue is that I don't like staying there - I like DIsney. and so does he. We rarely stay there, as we always have annual passes and use the AP rate for our hotel stays.

I see the DVC as eventually paying for itself, and having a much nicer room at a guarnteed rate - other than the maintenance fee.

Is this about right on the target?

 

[Disney Doll]

If you are financially stable on your own, then they'll have no problem selling you a contract.

Currently, Disney is selling Saratoga Springs Resort (SSR), but if I am not mistaken, they also have some points at other resorts that they have gotten through ROFR, which they also sell. As I said, I may be mistaken about that, but I seem to remember reading it somewhere...perhaps here on the DIS!

In any event, I would say buy where you want to stay. Your home resort gives you an 11 month booking window, a non-home resort gives you a 7 month booking window. Depending on the time of the year you want to go, that could be an important factor. There are now 5 DVC resorts on Disney property-Old Key West(OKW), Beach Club Villas(BCV), Boardwalk Villas(BWV), Wilderness Lodge Villas(WLV or VWL), and Saratoga Springs Resort (SSR). They are all themed differently and located in different areas of WDW. BCV & BWV are in the Epcot/MGM area...you can walk/boat to both major theme parks, VWL is a boat ride from MK, SSR is a walk/boat from Downtown Disney(DD), OKW is a walk/boat to DD. OKW has the most spacious rooms, but all properties have amply sized units for a vacation condo. OKW has parking right outside your door...it is more condo-style. BCV, BWV, VWL are attached to hotels. I have stayed in OKW, BWV, and BCV and like them all for various reasons. I am not sure about SSR, as I haven't seen it yet.

As far as financing...when DH and I bought our first contract, with OKW as our home resort, in 1997, we bought directly from Disney, and took the 10 year loan. Our thought was that we could certainly pay it off sooner (and we did!), but if we had a month where money was a little "short" the 10 year loan had the cheapest monthly payment and that was all we HAD to come up with. That worked for us, as did having them withdraw the money directly from the checking account. The dues payment was included in the total, so we worked it into our monthly budget and it wasn't painful at all.

The second contract we bought (again at OKW...we like it there!), we bought through Pat Spell at The Timeshare Store. We got it just before Disney got really crazy about ROFR, so we got our contract for a good price. At that time, we were able to pay cash for the points, so it was quite quick, easy and convenient. I think from the day we made an offer on the contract until the deed was recorded was about 8 weeks, no hassles at all.

I know people who have very creatively financed their resale DVC purchases. Friends of ours put it on their "cash back" credit card and got the benefit of that, and then paid it off the next month. Another couple used their home equity line of credit so they got the tax break for it. It's hard to get a personal loan, I think, for a timeshare purchase, so financing a resale through one of the resale companies will take a little more creativity.

Good luck and keep asking questions!!!

 

[Kadorto]

Resale seems to be the most economical way of buying but I wouldn't do business with Jaki...I gave her an offer on a contract that was never presented to the buyer. Evidently she thought it was too low and didn't pass it on to them. Made nearly the same offer on another contract with the boards sponsor. Not only was it accepted but it went right through ROFR. So it must not have been that low after all. Just be careful that whomever you're dealing with is reputable and will present all offers in a timely manner.

 

[rocketriter]

Talk to a local lawyer about buying without your husband. Chances are you can do so, but in many states your husband immediately gets half the interest in the property (and half the responsibility to pay) whether he's involved in the transaction or not. Get local advice from an expert in the law of your state, not from this board or from a timeshare salesperson.

 

[bsusanmb]

I wasn't worried about the legal aspect. Like I said, we own our home, and I just purchased a new car in my name with my credit and my own loan. I am a RN, and we have been married 30 years. I just know that he won't go, and there are some timeshare presentations that require both to attend. We live in Pennsylvania. I am not worried about the payments etc. Just know he probably won't go, and it isn't worth the hassle of putting up with his pouting. Actually when we bought the house, I did all the leg work, and he showed up to sign the papers - done deal. hummm.
anyhow, thanks for everyone's advice.

 

[TheRustyScupper]

Don't need hubby's signature, if
. . . you can pay cash
. . . you can qualify for credit and have downpayment
. . . you do not want his name on deed *


* NOTE: If one's name appears on a legal document (eg. deed) one must actually sign. Therefore, if a deed is in joint names, both must sign. A single-name deed only needs one signature.

 

[Stimpy]

Just a note, which you probably already know: you don't HAVE to go to the presentation to puchase. When we purchase our points, we did it over the phone here in NY. We still have never set foot in a DVC resort at WDW (we have been to VB on cash before) Everything went smoothly and we're planning on our first trip home in December. If your DH doesn't want to sit through the presentation and agrees to purchase into DVC, you may want to consider that route.