Confused with resale market- questions?

[sunryzez]

I bought into DVC only a little over a year ago but I am already thinking i want to add some points. I bought a 175 contract direct for aulani the first time.
This time I am looking for about a 100 point contract at a Florida resort this time. I love VGF but I know those contracts are hard to find and pricey.
So my question is where do I find the resale market? What is the process? Can I finance or do I just pay cash?
I have several questions and am sure there is a link or site somewhere and I am just not finding it.
Thanks!

 

[GaSleepingBeautyFan]

There is a resale DVC company who is a sponsor on the boards. It's the Timeshare Store. Also google DVC Resale and several will pull up. I just put a bid on a small number of resale points and plan on paying cash through the Timeshare Store.

My situation is different than yours since our original direct contract for points was for a florida resort. What I looked for was points at the same resort with the same use year to keep things simpler. I also looked for a contract with available points. I passed on several that were stripped of points for the current use year since I knew I'd be using the points this year.

I contacted the company once I saw the amount of points I was looking for and spoke with a salesperson. I then told them what my offer was and they contacted the seller who accepted our offer. Then several forms were emailed to us, I filled them out and gave them my credit card number for the 10% deposit. I scanned and emailed all paperwork back to the company.

Then the contract was sent to Disney for the Right of Refusal process. I'm guessing that was after the sellers signed the contract agreeing to my offer.

Now we just wait.......If Disney lets it go through we will close. If not, we'll get our deposit back and I'll keep looking.

 

[ELMC]

I bought into DVC only a little over a year ago but I am already thinking i want to add some points. I bought a 175 contract direct for aulani the first time.
This time I am looking for about a 100 point contract at a Florida resort this time. I love VGF but I know those contracts are hard to find and pricey.

VGF contracts are going to be more expensive than other resorts, but it's important to remember that prices for VGF resale are going to be significantly less than prices for VGF direct.

So my question is where do I find the resale market?

That's an interesting way of phrasing the question. The "resale market" is made up of a number of licensed real estate brokers who advertise contracts for existing members who want to sell their DVC ownership. It's not like there's a gateway website to the market, per se.

What is the process?

The process takes longer than buying direct, but the reward is savings. Once you find a contract you want, you contact the broker and make an offer. They will act as the liaison between you and the seller. Once you reach a deal the contract gets submitted to Disney for ROFR (Right of First Refusal) where they decide whether they want to waive the contract or step in your place and act as the buyer. That's their right and it's pretty annoying, but again the price you pay for the savings. This happens on average about 5-15% of the time, depending on a number of variables. The entire resale process will take about 8-12 weeks before the contract becomes yours and the points are loaded.

Can I finance or do I just pay cash?

You can do either. That's a whole other discussion.

I have several questions and am sure there is a link or site somewhere and I am just not finding it.
Thanks!

I would ask your questions when speaking with your broker. They will be more than happy to walk you through the process. Good luck!

 

[mustinjourney]

I bought into DVC only a little over a year ago but I am already thinking i want to add some points. I bought a 175 contract direct for aulani the first time.
This time I am looking for about a 100 point contract at a Florida resort this time. I love VGF but I know those contracts are hard to find and pricey.
So my question is where do I find the resale market? What is the process? Can I finance or do I just pay cash?
I have several questions and am sure there is a link or site somewhere and I am just not finding it.
Thanks!

You've come to the right place for answers.

Check out this helpful thread -- there is a link near the bottom that likely answers most of your questions.



https://www.disboards.com/threads/dvc-resource-center-updated-march-2017.3514540/

 

[Sean91]

Time taken is definitely the trade off made when buying resale, it takes a lot more time and there are hurdles to jump through (ROFR etc). However the possible savings are amazing, we just purchased 160 points at Saratoga for $74 per point, this would be $145 per point going direct making a saving of approximately $11000

 

[Matty B13]

Expect the resale process to take up to 3 months or more to complete.

 

[gharter]

We learned a lot reading through the information on this site about the resale moarket before we jumped in. Our first contract took about 3 months start to finish. Our second contract, in December of 2016 took under 30 days from acceptance to points in our account. We were shocked, but have read about others going that quickly.
good luck.

 

[Wakey]

Mine took 5 weeks 2 days resale from offer to using points with no stress at all. If you want VGF you may have to go resale, as I heard last week the waitlist was still closed direct due to it being too large already (haven't checked that myself though so may have changed). Question though- do you have to buy VGF? As Sean says above, resale can be amazing value if you buy somewhere like SSR, BLT. Huge savings. Think about when you will want to travel- is it a quiet DVC time? Think about what type of room, is it a studio or a 1 bed. If you want to stop at VGF in a studio at Thanksgiving, Easter, October- early Jan, and no where else will do, the premium of VGF may be worthwhile. If however you go at a quiet time in say a 1 bed (book up later than studios), VGF is easy to get (as is anywhere) at 7 months- end of August for example. See Skier Petes post on here for availability in studios at 7 months- that is a good indicator. Someone also did a spreadsheet of all room types at all resorts 7 months, its on a cloud server, with a link on a forum, I cannot find it at the moment but have a good search on google.

EDIT- I found the spreadsheet-https://www.icloud.com/numbers/000eCQCAGaC4PCgqKmkpGbGjg#Blank

 

[Matty B13]

If you want VGF they will find it for you, might take a month or 2 but they will come up with the points, we talked to our guide and he said he couldn't put us on the waitlist but he would take our name down. A month later he had points and gave us an hour to decide on a Monday at 9:30 am. Unfortunately for him we had just passed ROFR on our Resale VGF contract.

 

[A&MsMommy]

In looking at several resales, is there an issue with an "international seller" that would make any difference to me?

 

[ELMC]

In looking at several resales, is there an issue with an "international seller" that would make any difference to me?

Sellers are required to have the closing documents notarized. This process is often more difficult in foreign countries which could add some time. Also, with international sellers you are required to provide your social security number as a part of the closing process due to the FIRPTA tax that is withheld from foreign sellers. Some people don't like disclosing that information. That being said, buying from an international seller is a viable option and if those two situations aren't a problem for you, there is nothing else that I can see that should stop you. Good luck!