Couple of quick qustions for the newbie...

[alyssateajac]

Hello from Canada.
My wife and I are very close to joining DVC. We know two people that are members and they love it.
Couple of questions I hope someone can assist me with...

1) What are the risks, if any, of buying the DVC through "The Timeshare Store"? Has anyone done this? For some reason, it feels like you would be better off going directly through the DVC itself?? However, the prices seem to be a bit cheaper.

2) How is easy is it to sell points if you needed to? I am beng offered points up front to purchase (current deal in place) but am not sure if I can use them within the year. If it is easy, what is the going rate?

Thank you in advance.

 

[Slakk]

Hello from Canada.
My wife and I are very close to joining DVC. We know two people that are members and they love it.
Couple of questions I hope someone can assist me with...

1) What are the risks, if any, of buying the DVC through "The Timeshare Store"? Has anyone done this? For some reason, it feels like you would be better off going directly through the DVC itself?? However, the prices seem to be a bit cheaper.

2) How is easy is it to sell points if you needed to? I am beng offered points up front to purchase (current deal in place) but am not sure if I can use them within the year. If it is easy, what is the going rate?

Thank you in advance.

I have not purchased through TSS but I have sold through them and had a good experience. The difference between purchasing from DVC or TSS is the contracts at TTS may have less points available current then a DVC purchased.

If you are looking at SSR or AKV the incentives probably make them a pretty good deal to purchase from DVC. It may be the same with OKW - adding the extra 15 years may end up being a good deal.

For the others it is cheaper to purchase resale but the contract may not be loaded and resale takes more time. Purchasing from DVC is immediate and the contract is full. But DVC may not have points available at BCV anythime soon.

I suggest contacting DVC to see what they have available and talk to TTS - they both will give you good info.

 

[Mamadis]

We bought through the TSS and did save some money. The staff at the TSS was excellent and very helpful. The resale process however was agonizingly slow. Our hold up was mainly the seller. Our money and documents were there over 3 weeks before we were able to close. We are still waiting to get into the system so that we can make reservations. The whole process for us, if we get into the system next week, from making the offer to being able to make a reservation, wil have taken us almost 12 weeks. So if you buy resale , be prepared to be patient. I understand if you buy directly through Disney, you can make reservations that day.We will be adding on through Disney as we want AKV points and there is not much on the resale market. Also, patience is not one of my virtues.

 

[sjdisneywedding]

1) risks: I wouldnt call any of the differences risks. just differences

--there is a chance of Right of first refusal, where Disney can buy back the contract themselves if they feel the price is to low-so you could go through the process and still not have anything yet at the end if Disney does a buy back

--there are differences in the number of points presently available in the contract(some owners may have used all the points or conversley banked all the points). This should be considered when looking at the total price.

--there is the time factor as noted previously, resale is slower. DVC can be almost immediate

--there is the price factor, resale will almost always be cheaper. you can get a resale for as much as $20 cheaper per point

--financing available through DVC

--more variety with resale, more choices of resorts available at varying levels of points. there is a minimum buy in through DVC for first time members, of I believe 160 points, many do not need this amount so the ability to buy, say a 100 point contract, through resale is huge

--incentives through DVC, sometimes the incentive deal can more than make up for the price difference of resale. for instance $8 or $10 off per point or 100 bonus one time use points.



2) you dont really sell the points year to year. you either transfer them to another member, which is fairly simple, but does have some risks and is limited to once per year, in or out. Or you rent out a reservation to a nonmember that you will have to make yourself, again fairly simple, but with a bit more risk than transfering. Additionally, there is alot of debate as to where the rental path will lead int he future.

keep in mind you can bank points from one year to the next as long as it is done within the banking windows. Points can only be banked once, however and must be used that following year in some way(use, rent) or lost

 

[Chester's Mum]

Newbie from Canada here also. I purchased my first contract in July from TTS, they were great. They took care of everything, and even though I had a couple of glitches with my email that cost me 2 weeks, my contract closed on September 11(2 months to the date of offer). I had an email from member services within about 5 days, and made my first reservation shortly after that.

I purchased this way to get into the system without paying out 16,000 in advance. I have since added on directly through disney, and that was much easier to do. Paid by master card, used my points the next day. Also I got full current year points even though I purchased in November of my April 2007-2008 UY.

I am glad I started with resale, because if I was to buy directly through disney, I'd be saving until approximately next year before I could buy(I didn't want to finance). This way, I'll already have had two vacations with my points by that time.

People say financing through Disney is very easy, but keep in mind you have to have a bank account with an American bank to make the payments. It can be done in Canada because some Canadian banks have partnership agreements with American banks, so it isn't a deal breaker if you were planning on financing.

Good luck.

 

[vandy]

2) How is easy is it to sell points if you needed to? I am beng offered points up front to purchase (current deal in place) but am not sure if I can use them within the year. If it is easy, what is the going rate?

It sounds like you are talking about the incentive or developer points you would receive and not your yearly allotment of points. These incentive points have restrictions to them. We are using ours so I am not sure, but I know you can not bank these and I don't think you can transfer them either. Not sure about renting since it would be in your name. You need to check into this with your guide or someone here on the disboard can fill us in.

 

[alyssateajac]

Hello again...we actually live just outside Toronto, in Waterdown.

What do you mean that you purcahsed this way to get into the system without paying $16,000? Would you not have to pay TTS regardless?

Thanks again.

QUOTE=Chester's Mum;21998059]Newbie from Canada here also. I purchased my first contract in July from TTS, they were great. They took care of everything, and even though I had a couple of glitches with my email that cost me 2 weeks, my contract closed on September 11(2 months to the date of offer). I had an email from member services within about 5 days, and made my first reservation shortly after that.

I purchased this way to get into the system without paying out 16,000 in advance. I have since added on directly through disney, and that was much easier to do. Paid by master card, used my points the next day. Also I got full current year points even though I purchased in November of my April 2007-2008 UY.

I am glad I started with resale, because if I was to buy directly through disney, I'd be saving until approximately next year before I could buy(I didn't want to finance). This way, I'll already have had two vacations with my points by that time.

People say financing through Disney is very easy, but keep in mind you have to have a bank account with an American bank to make the payments. It can be done in Canada because some Canadian banks have partnership agreements with American banks, so it isn't a deal breaker if you were planning on financing.


Good luck.[/QUOTE]

 

[sjdisneywedding]

Hello again...we actually live just outside Toronto, in Waterdown.

What do you mean that you purcahsed this way to get into the system without paying $16,000? Would you not have to pay TTS regardless?

Thanks again.

no, when you buy resale, you buy whatever allotment of points you choose. You can research and see how many points you think you will use on a yearly basis, then keep an eye out, or inform TTS, of what you are looking for.

You will find contracts for resale having anywhere from 25 points to 1000 points, thereby spending as little as a few thousand dollars to well more than 16k if you so desired


when you buy direct through DVC as a new member you must buy 160 points

 

[sjdisneywedding]

It sounds like you are talking about the incentive or developer points you would receive and not your yearly allotment of points. These incentive points have restrictions to them. We are using ours so I am not sure, but I know you can not bank these and I don't think you can transfer them either. Not sure about renting since it would be in your name. You need to check into this with your guide or someone here on the disboard can fill us in.

you are correct, incentive points can not be banke or transferred

they can be used to rent out a ressie

they do not have a home resort priority either, so you have to wait until you are at 7 months in order to book.

they have an expiration as well, it was 7 months then was bumped up to 12 months for the AKV purchase incentives, not sure if has remained at 12 for current incentives

 

[CarolMN]

Hello again...we actually live just outside Toronto, in Waterdown.

What do you mean that you purcahsed this way to get into the system without paying $16,000? Would you not have to pay TTS regardless?

Thanks again.

If you are a first time buyer and go through Disney, you must buy at least 160 points. That's the minimum Disney sells to a new member.

If you go through a resale broker, then you may buy any contract offered, no matter what number of points it contains. Obviously, the smaller contracts do not cost as much as the larger ones and some first time buyers prefer not to finance or so not think they will need 160 points each year.

 

[RLCarmichael]

You have to watch your closing costs buying resale. If you buy a small contract say 50 points and you pay $500 for closing costs, you've really run the cost for point up by $10 per point.

Never closed with TSS but did have deal that didn't make it through FROR and dealings with TSS were prompt and professional. They returned my deposit very quickly.

 

[shellbelle1971]

We've bought contracts direct from Disney and through the Timeshare Store. We've also sold one contract through TTS. Both have first-rate customer service.

Love that gift basket from TTS, too!