Cancel Dreams Unlimited to buy a resale?

[TraciMcRee]

I made an original reservation with Disney Travel Co. for our trip Sept 8-15. Then I found out about Dreams Unlimited and how they can plan your itenirary for you and help you make PS so I transferred my reservation to Dreams Umilited. I have paid for 1/2 of my trip. I am still within 45 days of cancelling my trip.

Now my husband and I would like to buy a resale DVC from the boards. Are we able to transfer the $3000 to buy a DVC?

This is our first trip to WDW and the more I find out about it the more I change things.

Does anyone know if I am able to transfer or do I have to cancel?

 

[dianeschlicht]

The cost of thousands of dollars a trip is the reason we bought into DVC. We were going every other year and spending 3-5 thousand dollars each time. Now we go 2-3 times a year for one initial outlay that has long since recouped itself!

Disneydiane

 

[TnRobin]

DVC and Disney Travel companies are separate entities, thus they will not be able to transfer the money. You wil have to cancel your reservation with Dreams and then send the money to DVC.

Although I love DVC, I do not know if it would be wise to invest in DVC before you take your first trip to WDW. That is quite a bit of money to put down for a location that you have never seen.

Disney Vacation Club Board Co-Moderator
DVC and Cruise Chat Hostess
Cruise Board List Mistress

<font size=4 color=blue font face="Comic Sans MS">Robin

 

[chris1gill]

You would have to cancel your existing reservation (you would get your money back)... then just purchase the resale & apply the cash you got back from Disney... I don't think there is any way to transfer the cash from a reservation to a purchase of DVC - especially since you are purchasing resale.... If you are thinking of DVC this is a great time to do it, since you already have committed to putting out 3 grand... what's another 6 or so LOL... Anyways, you should be able to get DVC ressies for September, but I wouldn't wait much longer before taking the plunge...

 

[KathyR]

I did exactly this last year!!! I had ressies at OKW in a 1-bedroom with DU that were already paid off. I bought directly through DVC, and I had to cancel the ressie to get the money out of it. My guide made us the same ressie using points to cover our vacation, so I knew we had a ressie for our trip (this was only 3 weeks before the actual trip to WDW also). I confirmed our ressie with Memeber Services, and then cancelled my ressie with DU/CRO. At that time you could cancel up to 2 weeks in advance without penalty, so that worked out. We got the check in a few weeks. What we ended up doing was putting that much more down on our credit card, and then paying it off when we got the check from WDW from the cancelation. Best of luck to you

KathyR

 

[TraciMcRee]

I appreciate all of the replies.

The policy for cancellation at DU is up to 45 days before your trip. My date would be 7/25. I do not want to wait that long for fear of not getting the dates from DVC.

Although I had not considered the fact that I was making a huge purchase before I'd even seen the resort - (Good point!) I feel that the DVC membership also lets you vacation by a cruise or to other states ie. Colorado, Chicago, Vermont. So it would not just specifically be for my home resort.

I am embarrased to be cancelling at DU because I was very excited about having my itenirary planned out for me! I'll have to just ask a lot more questions and get more help from my friends at DIS.

Traci

 

[KathyR]

I had a hard time cancelling too!!! Michelle H. at DU was so wonderful the entire time I worked with her. I could "see" her smile in every email she wrote. I hated cancelling it; however, I could not pass up the opportunity for an extra $1500 towards my downpayment. When I told her, she was so wonderful about it. She understood the reasoning and was actually excited for me!!! If I ever need a cash ressie at any point, I would not hesitate to use DU and Michelle H. again!!! My experience with them was wonderful!!!

You just need to decide where your money better serves you. Is it put to better use as an extra chunk of cash towards your downpayment to purchase DVC or is it better (more important) to keep the cash ressie and visit the resorts to physically see each resort to make your decision. Neither is wrong, but one is more right for you and your family Best of luck to you

KathyR

 

[JillU-DVC]

One more thing to keep in mind is that there are not a lot of resales currently available to buy. I would NOT cancel your DU reservation until/unless you sign a resale contract, and are approaching closing date.

If you can swing it, I wouldn't cancel the DU reservation until AFTER I had closed on the resale, and had made my first reservation.

My 2 cents!

Jill Neill

 

[Jimbo]

I was in exactly the same position as you are in 1997. We were planning our first ever WDW trip, and had booked a 2BR at the Boardwalk. I was gagging on how expensive it was, and while I was doing research for our trip I found out about DVC. I eventually purchased an OKW resale, and everyone lived happily ever after.

But your situation won't be the same as ours. Specifically:

- In 1997 it was a buyer's market for resales. DVC wasn't nearly as popular as it is now. Plus you had the option of buying BWV from Disney, and that kept the resale's prices low. You had lots of choices, and could drive a pretty hard bargain. It doesn't seem to be so easy now.

- Our resale came with OKW's length of stay passes (AKA "golden handcuffs"). The package we had booked included park passes, so it was a much easier comparison, and a clear win for the resale.

- I had done TONS of research to prepare for this "once in a lifetime" trip (Hah!) and I knew that with two grandkids we'd be coming back to WDW a lot no matter what. Even though we'd never been there, I was confident about this. If you decide to buy before you see it, just make sure you know what you're getting in to.

So you're different, you're family's different, and the situation is different too. But it worked for us, and maybe it'll work for you too. Good luck!

 

[chris1gill]

I've been thinking about this.... Are you sure you want to buy a resale? If you purchase through Disney, there's no closing cost & they can make the reservation THAT DAY.... seems much much easier than buying a resale... resale prices are up, you have to pay closing, and in your case where you need to make your reservation right away, the resale route doesn't seem to be the best alternative UNLESS you really want to own at BW or OKW.... VWL are available onsite currently or HHI or even Vero....

 

[Dizzy4Dizney]

People have a good point about buying site unseen, but I think you will be very happy at Disney. You will probably not go any where else ever again (I can't get my husband to go anywhere by WDW anymore, I don't mind one bit!)

I'd go with the DVC club and not resale if you can help it. DVC had some great financing programs. If you can wait for the Beach Club Villas, then do so, otherwise the Wilderness Lodge is a nice place too.

Good luck and we look forward to welcoming you home!

 

[TraciMcRee]

To Kathy - I have Michelle too. I feel like such a loser How did you plan your own itenirary and PS. Please e-mail me your schedule. I'm scared to plan it myself. I was looking forward to her help!

On the resale board there is a OKW (Sept)150 pts for 9750. The owners are giving us 150 pts for year 2001 plus we will be getting 150 pts for year 2002 in Sept. (Something like that I may have the years wrong. It may be 2000 and 2001.) Anyway, closing costs are $400.00 and annual dues are $3.13 per point which is $469.50.

We plan on going this Sept 8 - 15 so we would have points from last year and points from this year. Our current ressies are at PO Riverside and it is only 1 room. If we buy, we could get a 2 bedroom with plenty of beds for my 3 children. Noone sleeping on the trundle bed. Plus the kitchen for breakfast and the washer/dryer and the big jacuzzi tub for mom.

We are getting the info sent to us to purchase to OKW.

We will be celebrating my oldests 10th birthday this trip. My 6 year old son wants to do the cuise/world combo when he turns 10. (Maybe we won't have to wait that long.) Also, Vero Beach or Hilton Head appeals to us as alternative vacations other than the world every year. They don't use as many points and we could bank the extra for the odd years that we go to the world.

Please keep hitting me with your thoughts, concerns, personal experiences and ideas. I'm open to it all!

Thanks to all for replying.

 

[slimplaw]

when thinking about buying from DVC, be sure you can do this from your home in your state. We can't buy from our home here in Tx. We can only purchase DVC when we are actually in Florida. Any of the guides can tell you if you can purchase from home.

 

[A1A1]

TraciMcRee,
Why did you choose OKW? I know many people love it. Wondered if you had considered VWL?

Here is what I did:

Booked a room at GF through CRO. Visited with guide/salesperson and decided to buy. Guide credited the money I had spent on the GF to my purchase price - I think it was about $2500.

This would be a good option for you to check out VWL, if you like the looks and idea of it from all the websites and comments here. You could then use the money you spent on your WDW room as a good credit or down payment.

What do you think?

 

[ceejay13]

We bought sight unseen and actually even added on before we took our first trip and were not only thrilled with our decision but wish we would have done it sooner. I have also used Michelle at DU for DL ressies and she is wonderful and I am sure would be understanding if you decide to buy DVC, and need to cancel. I do think if you are set on going at that time you might have trouble getting a DVC ressie depending on what you want. September is one of the slowest months but am not sure how booked up the DVC resorts already are.

 

[KathyR]

Traci,
I tried to email you, but it just gets returned. Check your email address, or if you like, you can email me

KathyR

[This message was edited by KathyR on 03-24-01 at 09:43 AM.]

 

[A1A1]

Traci,

Wondered how your decision was going.

You may have read here that Magical Beginnings is ending or changing.......Did you consider buying from Disney to use that option before it ends?

 

[TraciMcRee]

I am so amazed that anybody cares! Thank you all. We decided to purchase a resale for 210 pts at OKW (Aug) because I love the Key West feel. We got 200 banked pts and 210 new for this year. No I've never been..but I love HOT weather and the wilderness villas seemed like snow vacation to me. We were on a budget and purchaseing new at 72 pts was not an option. I also like to fact that at OKW there's a dining table. They also have lowest annual dues. Believe me... we intend to try all of the resorts. I'm so lucky to have the finances to purchase... a big kiss to my husband. but when you look at it financially, we were spending a big chunck of money for one trip. Now we can have many. My husband is now in a job where he has 4 weeks vacation. In our past DH was a computer consultant. It you didn't work, you didn't get paid. Now with currant job benefits. We got it all! Life is good!

Michelle at Dreams Unlimited is on a trip this week, so when we get everything finalized, I will send her a very apologetic note (and ask for my refund).

A huge thank you to Kathy for helping me plan our itinerary.

Dis boards rule!