Can this be correct? OKW points for $55 per point??

[~Magical Princess~]

I just received an email from a lady named "Sharon" at Timeshare Resales USA claiming she had a contract for 373 points for sale @$55 per point for Disney's OKW.

Now that would be a dream come true! Especially since everyone thought that once Beach club started selling that would drive the resales prices up!

Can anyone confirm this company? thanks.

 

[drusba]

All I can say at this point about the company is that its web site, timeshareresalesusa.com is not showing any DVC properties for sale (the few listed are all marked as sold). That does not necessarily mean there is not something that can be sold before it is formerly listed on their site. $55 sounds low but could actually be in the ballpark particularly because it is a higher point contract which are more difficult to sell and if the contract has a lack of current points problem--a number of resales go on the market after the seller has used up the current year's allotment of points and sometimes borrowed all of next year's. Those kinds of contracts which leave you with no use for a year or more should sell at a discount.

 

[disneygals]

HI

Happened to be lurking by....We bought a Vistana from Sharon in 1998. She was great, no problems.


Good Luck
Vivienne

 

[~Magical Princess~]

According to the email, it said all 373 points were alloted for 2002! Too good to be true if you ask me! So much for Disney wont let it sell for under $58 ?? It makes me wonder.

 

[CarolA]

Disney will let you sell it for anything. They just might not let you buy it. basically if the price is too low they have the right of first refusal so if they think $55 is too low they buy the contract at $55 from the seller.

 

[RickW]

These posts always amaze me. In 1999, we bought an OKW resale for $55/point, which was a reasonable deal at the time, but wasn't one of the "best" deals available. Back then the word was "Disney will buy back anything under $50." Now here it is, only a couple of years later, and $55/point is the most amazing deal in the world. I say go for it. Worst case, Disney decides to buy it instead, but in that case, you haven't really lost anything.

 

[mtdewhead]

I contacted two DVC resale agencies about a month ago to inquire about the low per point packages. I was told that Disney almost always buys back anything under 59 per point, but it's worth a try!

 

[~Magical Princess~]

Guess what? I just got off the phone with Sharon and it just sold like 15 minutes ago! Some guy nabbed it on his credit card!!! LOL

I asked her all about the "right of first refusal etc.," and she was like -- well it's sold at $55 per point!!

That's good news for us looking to nab a deal out there I guess!!! And maybe that means that the resale price is coming down!! Time to start thinking about it again!!!

 

[Happy Birthday Cat]

When she says that it sold at 55.00 she is right in that is how much the seller will get for the points. Who the buyer is is to be determined. Now Disney will review the contract and make a decision on whether to exercise their first refusal option. We will probably never know what really happened.

 

[RobDoc]

That's right Cat! What the agent is stating is that there is an offer to buy at $55- so it's going to sell at that price.

If Disney chooses to exercise ROFR, they'll get it for $55- if Disney declines, the buyer will be the one who made the offer.

Either way, the seller will get that price and the agent will get her commission.

I'm betting that Disney will be buyer at $55...but as you stated, we'll probably never really know!

 

[dvcsully]

If Disney does buy the points for $55, what happens to those points? Do they offer them for sale? I would love to add on an extra 100 points at OKW and I was curious if they would ever make them available.

 

[MulanMom]

Just heard on another board that Disney recently exercised it's ROFR and purchased a contract going for $55/point.

 

[mooses41]

remember the loophole, you can say to disney its 58 a point, etc. but charge the buyer no closing costs, or you can say its 55 a point and charge closing costs. Its still the same out of pocket for the buyer, just a different way of looking @ it.

 

[llp479]

We recently bought an OKW resale of 232 points for $58/pt.

According to our guide, Celeste, when DVC buys a resale, they then do sell the points at the current price per point. We asked, because we would possibly like another 50-100 pts at BWV. She said we could be put on the waiting list for points at BWV, most likely after June 1 at the $80/point!

That conversation helped to make our decision to buy the resale at OKW.

 

[rallydoc]

PUHLEESE don't tellme ha disney is buying up points around $55... For my DW birthday/Christmas/Valentines/etc. I "purchased" 200 pt's at OKW for $55 per... of course i haven't heard anything since i sent my half of the paperwork off a month or so ago....

Lester

..or can anyone come up with a good idea for a Birthday/Valentines/Anniversary present?!?!

 

[RobDoc]

...you can say to disney its 58 a point, etc.

That's a good suggestion, but the buyer should make that distinction in the offer, since the seller has no incentive to do so- they will sell it to someone regardless.

 

[Cap]

Originally posted by rallydoc
PUHLEESE don't tellme ha disney is buying up points around $55... For my DW birthday/Christmas/Valentines/etc. I "purchased" 200 pt's at OKW for $55 per... of course i haven't heard anything since i sent my half of the paperwork off a month or so ago....

Lester

/i/B]

If you sent your half of the paperwork off a month or so ago, you've got a problem with the resale broker. You should have heard from them within 10 days. I'd call them immediately.

 

[rallydoc]

Now don't start... I'm ussing the Timeshare Store and they certainly seem knowledgeable...

Lester

.. ok, maybe I'm overreacting... their words were, "No news is good news."

 

[skaiss@aol.com]

Any knowlegeable resale broker knows disney will not allow $55 a point. So what they do is knock off the closing points and possibly the dues that are owed. On the contract it looks like $58 but in reality it is less then that when figuring the savings on closing cost.

 

[CRobin]

Originally posted by skaiss@aol.com
Any knowlegeable resale broker knows disney will not allow $55 a point. So what they do is knock off the closing points and possibly the dues that are owed. On the contract it looks like $58 but in reality it is less then that when figuring the savings on closing cost.

What difference would that make to the broker? They are processing a real estate transaction, replete with closing costs. If Disney chooses to buy @ $55, or $58, or whatever, it shouldn't make any difference to the broker. They are simply complying with the contractual ROFR.

I don't suspect any broker is going to play with the numbers to sell to an individual versus Disney. IMHO, they don't care from whose wallet the payment comes.