Direct add on...now feeling frustrated.

[JGR]

I am a DVC member. Joined at SSR Direct from Disney in 2004 initial purchase 200 points at $80 point. Our family has grown and we decided to add on. We have borrowed and borrowed...finally added on 150 points today. We have an Oct. use year and had to buy today to get 2010 points.

I keep feeling like we should work toward a resale at SSR. It seems so much cheaper to do resale but, the process and ROFR etc. bothers me. I know it boils down to money...maybe I should look for an Oct. SSR and save?? I can still cancel the Disney transaction. We can pay cash for an add on. Any advice??? THANKS!!

 

[chunkygal]

Personal choice, but depends on if you have more money than time or time than money

 

[Kidanifan08]

The process takes about 2 months from the time of making an offer to close. I would not worry about ROFR with SSR. Check out this thread to see that SSR is selling for upper $40's to mid-$60's http://www.disboards.com/showthread.php?t=2661661&page=90 . You would save a considerable amount of $$. The Timeshare Store is excellent to work with, but Fidelity DVC Resales has a larger inventory and has worked well for others on these boards.

With the current resale market, there is no reason to buy direct if you only plan on using the points for DVC resort stays.

 

[disneynutz]

That's a personal decision. What's more important spending more money and getting what you want quickly, or spending less money and waiting a couple of months if you can find the contract that you want.

Disney knows that people don't like to wait, that is why they make you wait 30 days for ROFR and that's why they can set their direct price so high.

Bill

 

[rock_doctor]

I sent you a PM give it a look as soon as you can. Direct add-on is a great way to go when you have the cash in hand but if you are borrowing you should really consider going resale. Yes resale it not a fun process but it is worth the cash saved. In most cases the agent will know or at least have a feeling for what will be caught up on ROFR and what will pass. We just added on BLT though resale and spend $95 per point while Disney was $140/point. That was a substantial savings and well worth the 2-months of pain. You guide will hate you! but you have to be concerned with you. Good luck and let us know how you made out. Nealy all of us have done resale at one point so we likely can answer any question you may have.

 

[N4niner206]

As a new DVC member who recently bought a resale, I can tell you that the resale process has gone far more quickly than I had expected (after reading about the ROFR process, etc). Though it is true that each person's experience can vary. Our waiting for ROFR lasted less than 2 weeks.

In our case, our initial offer was submitted and accepted September 14... passed ROFR by September 27... Closing papers and certified check is in the hands of the title company as of today, September 30.

Our buyer's agent is the crew over at ********** (****, Jackie, and Kevin). The seller's agent was Fidelity. Less than 3 weeks total... not bad, though we will probably have to wait another week or two to get access to the points. Others have also passed through ROFR very quickly lately... some have recently gone more quickly than ours! Remember, your results may vary

Hope this helps. Savings can be huge on the resale market.

HMMM not sure why my agent's name and business got starred out... I appologize if I did something I was not supposed to (new around here) but other agencies seem to be listed without problem.

 

[dbs1228]

I have bought direct and resale, and will only buy resale again - yes personal choice. We added on this spring at SSR 130 points and paid 59.00 pp plus closing. (about 8000.00) We then rented out 2009 banked points that were going to expire Oct 1 for 1300.00 which brought our purchase price down to 6700.00 (49.00 pp) AND we got 2010 points along with 2011 tomorrow! The process took about 60 days but that was during the crazy period in Feb/Mar. I noticed on the ROFR thread contracts are passing ROFR in less then 2 weeks and people are closing in about 4 - 5 weeks. Just saying.....

 

[JGR]

Thanks everyone. I believe we will look for a resale...it just doesn't make sense to keep this direct contract. My guide WILL hate us for sure.

 

[rock_doctor]

HMMM not sure why my agent's name and business got starred out... I apologize if I did something I was not supposed to (new around here) but other agencies seem to be listed without problem.

You are good to go. Not really sure why it filters out that particular company but it is normal and we are use to it. We bought though Fidelity and it went 'swimmingly'... less then 60 days from start to finish and that was during the 3/20 rush...

Thanks everyone. I believe we will look for a resale...it just doesn't make sense to keep this direct contract. My guide WILL hate us for sure.

I would just give him a call and be honest. They know the direct price is much more then the resale price and as long as you don't plan to use the points for a cruise or travel outside Disney they really can't compete and they know it... I always think first buy-in should be direct so you can get the Disney "feel" from your purchase but with it being your second...

 

[DenLo]

If you are really not sure about buying direct. Cancel the contract. Think about it for awhile and research more about buying direct versus resale. Then decide which way to go.

Things to consider:

1. The price per point you'll have to pay. (Resale is definitely lower.)

2. Total the cost including MF's and closing cost. Which is better? Sometimes seeing the figures helps you to decide.

3. The processing time. Will it bother you if it takes 6 to 8 weeks to process a resale or after 30 days you contract is ROFR'd? Do you need the points quickly for a reservation. (If yes, buy direct)

4. Do you use (or plan to) your points for a Disney collection exchange like a DCL cruise? (Buy direct)

5. Do you use your points strictly for DVC villas? (Buy resale)

6. Or if you think it was worth getting the points right now including the 2010 points even though you made more then make your next reservation and enjoy the points you've already purchased.

Let us know what you decide.

 

[sweetdana]

Your guide will not hate you... bet your not the 1st one this week.

They know some people will not wait for the contract to come along, and will not wait for ROFR and closing. That is what you are paying for going direct.

I went resale, for SSR and saved 35-40$ a point, now difference is even more.

I think it sounds harder than it is.

 

[bobbiwoz]

IF you bought before Oct. 1st did you get the 2010 points that could be banked? I think that makes a difference. I've done both, direct and resale, and at a certain time of the UY, and for certain resorts, I would go direct.

 

[KAT4DISNEY]

IF you bought before Oct. 1st did you get the 2010 points that could be banked? I think that makes a difference. I've done both, direct and resale, and at a certain time of the UY, and for certain resorts, I would go direct.

I'd qualify and say the size of the contract makes a huge difference to consider previous year points. And with the ever increasing difference between direct and resale even on small contracts that factors in less than a year or two ago. Back then I also did direct for a couple of small add on's.

In the OP's case they would be paying at least $30/pt additional for those 2010 points. If they need the points it would be more economical to rent at $10/pt and still save $3,000 or more since I'm being very conservative with the numbers. And I'd guess there's a good probability they could find a resale with 2010 points. I'd personally be trying to justify that for a long time!

But the resale process doesn't bother me one bit either while it drives others crazy.

 

[magicaldisney]

October UY seems to be a harder find. You might want to keep that in mind.

 

[montrealdisneylovers]

Another factor to keep in mind is the possibility of you having to sell your contract in the future. Although we all buy with the intention of holding our points for many years, situations can arise when one is forced to sell their points. Having bought resale will mean a smaller loss than having bought direct. Taking BLT for example which is where we purchased at $96.00 per point-although painful if forced to sell in the future at (assuming) $80 a point it would be a lot less painful than if we had purchased at $140.00 a point

 

[bobbiwoz]

We are thinking to add to our current points. What is the site that gives the current costs direct per point? We have a March UY and doesn't come up often. I have checked whole sites that don't have any March resales in any of our home resorts! (Well at least not smaller amounts. We don't want to double our holding.)

 

[Mlissa88]

We are thinking to add to our current points. What is the site that gives the current costs direct per point? We have a March UY and doesn't come up often. I have checked whole sites that don't have any March resales in any of our home resorts! (Well at least not smaller amounts. We don't want to double our holding.)

Dvcnews.com will have that info although I don't think it's shown any changes to that specific info since Aug.

 

[bobbiwoz]

Dvcnews.com will have that info although I don't think it's shown any changes to that specific info since Aug.

Thanks.

 

[KAT4DISNEY]

We are thinking to add to our current points. What is the site that gives the current costs direct per point? We have a March UY and doesn't come up often. I have checked whole sites that don't have any March resales in any of our home resorts! (Well at least not smaller amounts. We don't want to double our holding.)

Here is the direct link: http://www.dvcnews.com/index.php/dvc-program/financial/pricing-a-promotions

But it's not impossible to find Mar resale. (I was considering going with that when I couldn't find an April!) Depending on how small and what resort you often have to catch those fairly quickly in any UY but if you don't need the points immediately you might do some checking and see if you locate one.

 

[Breyean]

FWIW, here's what we did, or at least are trying to do. We wanted to add on at VGC and back in June we found a GREAT resale - 250 points at $74/point, our UY.

We were ROFR'd, along with a few others both at VCG and at other resorts, most notably OKW. Disney seemed to go into, what was for them at least, a ROFR frenzy around that time.

So we bought 1/2 of what we wanted, 125 points, direct, because we needed them for a trip we had been planning to DLR. Worked out OK since we got our room at VCG for our dates and now just can't wait.

But, we also just made another offer, which was accepted Friday, on another VCG resale for 160 at $85. If we get that, we'll have a little more than our original target of 250, but who's going to complain about too many points, right?

So hopefully we can get that second contract through, since Disney now seems to be passing on them in record time, and we'll have just what we wanted. Plus, if we ever do need to use points outside DVC, we've added those 125 to our original Disney direct points, so that's a plus. And we averaged down the direct cost by the slightly larger resale contract, another plus!