Closing on Small Resale

[johde]

I just heard today that Disney waved their ROFR on my 60 Pt. OKW resale. This is my initial purchase. So I guess the answer from a couple of weeks ago is yes you can buy small resales as initial contracts. Hope this helps people out who are thinking about a small resale. BTW all three of the "big three" said small resale go as fast as they come in and you sould consider getting on their wait list. It took close to 6 months to find and get a bid accepted for my contract.

Jeremy

 

[RobDoc]

Thanks for sharing your resale experience on the board!



<marquee>WELCOME HOME!! </marquee>

 

[dcfromva]

Yay! : :
Congratulations on your purchase and Welcome Home!

-DC

 

[Shontell_Crawford]

Congratulations, Jeremy!

Welcome Home! It's good to hear your resale experience was a positive one - even though I wasn't part of it.

Best regards,
Shontell

 

[hoosiergirl]

If I can be so nosy......would you mind sharing what the closing costs were? I've always been curious about the actual price per point on smaller contracts since there are fewer points to share the closing costs. We can't always afford a larger contract but are always interested in smaller ones in order to have points at more resorts.

 

[johde]

Closing costs were $375 which in my case added about $6.25 per point. I was able to get the contract for Slightly less than Disney's current $80 per point including closing costs.

 

[hoosiergirl]

Thank you so much, johde! That figure gives me more to work with when figuring out whether or not we want to go with a small resale.

 

[Doctor P]

Congratulations!

 

[Towncrier]

Welcome Home!!!

(From one Ohio DVC member to another Ohio DVC member)

 

[Lucky4me]

Another nosy question. In what way do you plan on using these 60 points? Can you even stay more than a couple of nights with this few points? I ask because we were looking into a small contract but didn't think it was worth our while, nights vs. points. Thankyou!

 

[ncligs]

johde,

Welcome Home!!!!

What part of Ohio are you from?

 

[johde]

There are several possible uses for a small contract. At OKW it will get you 4-7.5 weekday nights (Depending on Season 4 nights being premier and 7.5 nights value) in a studio. With this small of a contract I think I am going to need to avoid weekends at all costs. Recently I have been traveling the first two weeks of December every 2 -3 years. With banking and borrowing you could reserve either longer stays or larger rooms.

If you were wanting to consistently stay at one of other DVC resorts you may want more at least a few more points. 60 points will get you 5 days in a studio in value season at any DVC resort. If you are willing to combine 2 or 3 years together you could even do Disneyland or DCL (Assuming point requirements don’t go up to much more). Also recently someone traded out for Hawaii for 55 points (don’t know how they did it).

I guess what I would recommend is the same thing everyone else recommends: look at where you want to stay, how long you want to stay, how long do you want to wait between trips, and are you willing to split up the trip between resorts. That will give you an idea of how many points you need.

The one thing I don’t know is what Disney would do if you wanted to add on. I would assume that they would require you to go to 150 points if you purchased from them. They may require you to purchase a 150 contract at that time.

For me, my contract was almost ideal. For well under $5,000 I have 5 nights in a studio in the value season around Christmas plus a little extra to play with or rent. It may require some creativity and frugal planning but I think I can get my fill of Disney (if that’s possible).

Jeremy
PS I’m from the Zanesville area.

 

[Shontell_Crawford]

Jeremy,

Thanks for sharing your information. If you happen to know of how and where that person went to Hawaii with 55 points, I would LOVE to know.

I'm assuming it was CC, but am curious to hear.

Thanks!
Shontell