Considering purchasing DVC-have some questions

[disneychick0412]

We did the DVC timeshare presentation in February while at Disney. We were told that we could choose AKV or BLT. I assume the only way to "buy-in" to any of the other resorts is through a resale??? While both were nice (from the models we were shown), I'm not really excited about them, and would probably prefer something else.

What are the advantages of doing a resale vs buying direct from Disney? (Other than price) What are the disadvantages?

Also, can you finance a resale or must it be paid for in full up front?

I'm sure I will think of many more questions, but those are the main ones I have right now.

Thanks

 

[DenLo]

We did the DVC timeshare presentation in February while at Disney. We were told that we could choose AKV or BLT. I assume the only way to "buy-in" to any of the other resorts is through a resale??? While both were nice (from the models we were shown), I'm not really excited about them, and would probably prefer something else.

You can buy direct for any DVC resort. However, Disney may have to put you on a wait list if they do not have any points for the use year you want to buy. Disney gets points from the closed resorts from ROFRd contracts and defaults. So how many and when these points are available varies.

What are the advantages of doing a resale vs buying direct from Disney? (Other than price) What are the disadvantages?

The advantage with resale is the lower price per point. Buying direct you get the points quicker, usually within a week versus 8 weeks for a resale contract..

Also, can you finance a resale or must it be paid for in full up front?

I'm sure I will think of many more questions, but those are the main ones I have right now.

Thanks

Here's a thread that might answer some questions you have:

http://www.disboards.com/showthread.php?t=2152512

 

[Deb & Bill]

They want you to think you can't buy "sold out" resorts. But if you tell them you aren't interested in the new resorts they are selling and only want to buy a "sold out" resort, they will sell you points. But no incentives and there is a higher price than if you buy resale.

 

[djp0630]

I called and asked DVC about buying BCV and I could buy it directly from them. The availability might be less than resale and they weren't any discounts but did offer 2009 points with no maintenance fees & no closing costs.

 

[Greysword]

Financing for resale is up to you to obtain through whatever means you desire. If you buy directly from Disney, an additional option is open through Disney itself. This option has a higher interest rate than what you may get from a line of credit on your home, but it has other advantages such as not being reported to a credit agency and less strict underwriting requirements.

Other advantages of buying through Disney are point availability (many times before the process has finished), no closing costs, no ROFR, you can usually choose your Use Year, foreclosure will not hurt your credit (hopefully never have to find this out first hand, but nice as a sudo insurance), and a couple of other things that escape me.

Good luck!

 

[A_Princess'_Daddy]

We found the same thing when we took our tour. We only wanted points at BWV, and after being quite clear that we had no interest in BLT, AKV or SSR (wonderful resorts, but we're an Epcot family), our guide told us that she could get us points at BWV but they would be either $105 or $110 per point (I don't recall which) with no incentives. Since we'd already found a resale contract for the points we wanted at BWV for far less ($70 p/p), we went with that, instead.

We did have to sweat out the ROFR process, but the whole purchase went remarkably smoothly and we went from offer to closed in 25 days! Now just a couple more days before we go into the system!

Regarding financing, I believe there are options available for resale contracts but don't know how complicated they are. We hate financing things and were fortunately in a position to pay cash, so we didn't check out those options.

 

[Crystal_27]

We did the DVC timeshare presentation in February while at Disney. We were told that we could choose AKV or BLT. I assume the only way to "buy-in" to any of the other resorts is through a resale??? While both were nice (from the models we were shown), I'm not really excited about them, and would probably prefer something else.

What are the advantages of doing a resale vs buying direct from Disney? (Other than price) What are the disadvantages?

Also, can you finance a resale or must it be paid for in full up front?

I'm sure I will think of many more questions, but those are the main ones I have right now.

Thanks

The big advantage of resale is the price (which can often be several thousands less than the going rate through Disney). You can actually purchase all of the sold-out resorts through Disney directly but, again, they come with a hefty price/point. The disadvantages of going resale is that Disney has a right of first refusal (ROFR) for any contract and, if Disney chooses to exercise its ROFR, you have basically wasted your time and energy for a month, and will have to start again from scratch. Also, resales take longer than buying through Disney (a month or two versus a day or two). I guess another disadvantage of resale is that you can't customize your contract (number of points, use year, resort, etc.) - you are buying someone else's interest. BUT, you can find that sometimes that works to your advantage in that sometimes people who sell will have banked points, which essentially gives you two years of points in the first year (although, in fairness to Disney, if you buy certain use years through DVC, you can get the same deal). In terms of financing, I believe that most of the resale companies recommended on The DIS do offer financing. Hope that helps. Good luck!