closing costs for member when changing UY during add-on?

[hellerjw]

We are in the process of scaling back our DVC ownership and selling off our remaining AKV contracts. However, before the sales of the other contracts close we would like to do a small direct add-on at HHI in order to remain DVC members. Our current UY with our AKV contracts is March but I was thinking of requesting an April or June UY with the HHI add-on, in order to get the 2009 points.

Will this require a new membership number and/or closing costs?

I'm not really concerned about UYs and banking windows because once the AKV sales are complete the only contract we will have will be this small HHI add-on.

 

[princessfionasmom]

I think I read somewhere that in order to change your use year you would have to buy a whole new contract with the 160pt buy in. I remember someone posting that information on here somewhere. Also, it would probably be a whole lot cheaper to buy HHI resale, I would definitely suggest checking out the board sponsor's website (TTS) and see what they have. Good luck!

 

[drusba]

That is correct. You cannot get a new use year from Disney unless you buy the minimum required of a new purchaser. Not sure how they would treat closings costs if you did that.

 

[RobDoc]

There would not be any closing costs for a direct HH purchase, but you would need a minimum purchase to have a new Use Year and it would defintiely be worth your time to look for resales with the Use Year you want even with the closing costs.

Good luck!

 

[hellerjw]

Thanks to everyone for the information.

The reason we would need to go direct is that we are only looking at doing a 50 pt add-on and our existing AKV contracts are already in the ROFR stage of the sale process.

I haven't seen very many 50 pt HHI contracts lately and the timing of things would have to move quicker than the normal resale timeline of 6 weeks. From what I've found by the time you add in the closing costs on a small resale the cost difference between direct and resale prices for HHI narrows a good bit. However, our primary concern is speed so I believe going direct is really our only option at this point.

We didn't originally plan to continue with DVC when we first put our AKV contracts on the market. It wasn't until this last week that we decided to go the small add-on route so we could continue being owners after the AKV contracts sell. Had we decided earlier I could have just done the add-on in March and gotten the 2009 points.

 

[DebbieB]

March use year points would have expired 2/28 and April expired 3/31. You could watch for a resale with a small number of points for HHI. The price through DVC is so much higher, even with closing costs a resale might be cheaper. If you want the points quick, just go with March and forget the 2009 points.

 

[Sandisw]

Right now, you would only et 2009 points on an April UY if you add on by tomorrow.

There are no closing costs when adding on with a different UY. But there is a minimum. They have allowed people adding on at SSR, AKV with only 100 points so I would assume you could get one that low.

Since HH is an older resort, they might like you change UY's with only 50 points, but for the newer resorts, that is not the case and the minimum seems to be 100 (and for BLT and VGC, I have not read anything less than 150).

 

[DebbieB]

Right now, you would only et 2009 points on an April UY if you add on by tomorrow.

There are no closing costs when adding on with a different UY. But there is a minimum. They have allowed people adding on at SSR, AKV with only 100 points so I would assume you could get one that low.

Since HH is an older resort, they might like you change UY's with only 50 points, but for the newer resorts, that is not the case and the minimum seems to be 100 (and for BLT and VGC, I have not read anything less than 150).

I think it's too late. April 2009 points were effective 4/1/09 to 3/31/10.

 

[hellerjw]

I'm pretty much resigned with going direct. After talking with one of the larger resellers they said the closing costs at HHI are around $800 (vs. the $350-$400 at other resorts) because SC law requires they use a SC attorney for the closing. This drastically alters the cost benefit of going resale and since we were only looking at adding 50 points anyway it doesn't make much sense to go the resale route.