DVC Primer????

Delaware Mike

Mouseketeer
Joined
May 5, 2004
Messages
461
The DW and I have vacationed at WDW for almost as many years as we've been married and each time we're there a little voice in the back of my head says something like, "If so many people are joining DVC, they must be doing so for good reason."

Well, okay...maybe the time is right for me to start listening to that little voice. (Or maybe, like the inner child in the Eagles' song, it's time for me to kick its little....)

Anyway, I've started reading the DVC information and some of the postings, but I was wondering if there was a Primer for those of us who are "un-initiated". I'm interested in DVC but don't want to "pay retail". I'd be interested in purchasing resale, but frankly am a little intimitated by everything involved.

If no Primer is available, I'd love to hear about the experiences of others who have gone this route....about the resale process and savings you've experienced, about the "post-sale stuff' like annual fees and the costs encountered when you've used your new ownership (tickets, et cetera), et cetera, et cetera, et cetera. In short, I'd love to hear about it all...both good and bad.

Thank you very much in advance for any and all assistance!

Mike
 
Mike,

I'm not an 'official member' yet, but I can tell you about my experiences. I considered buying direct from Disney either $85/point at Saratoga or $89/point at any of the other DVC properties. I did some research and decided to try resale and it was a very easy process. This past Monday I got word that my 420 point contract for OKW passed at $69/point. Mine was pretty low and I was surprised that it passed but even in the low to mid $70's it's still quite a savings. For me it meant that if I bought direct from Disney I either would have spent more money or purchased fewer points.

The agent that I worked with was very professional and helpful - and it seems that most of the people on these boards have had the same experiences with their agents. Basically you find a contract that you're interest in and call the realtor with a bid - from that point on they hold your hand throughout the entire process. The only difficulty was the wait ... it took almost a month for my contract to pass ROFR. Two days after it passed I received the closing papers via email. I was new to all this and I can tell you it wasn't the least bit intimidating. Good luck with whatever path you choose!
 
This may be what you're looking for--it sure has the right title!
http://allearsnet.com/acc/dvc.htm

Also if you haven't already, click on the link on the top of the DIS Boards page that says FAQS.

I had no trouble going the resale route, and as you'll soon learn if you are looking to buy at anywhere other than SSR you're pretty much forced to do a resale. I used Jaki and Kem at ATimeshareBroker, (http://www.atimeshare.com/cgi-local/listd.cgi?disy) they were great. It took me just over a month from buying to be able to make my first ressie. There's a lot to consider, especially "right of first refusal" (known on these boards as ROFR), so be sure to do your homework.

There are pluses and minuses to both ways, as you'll see when you investigate. Only you can decide what you're comfortable with. Good luck and let us know what happens as you progress, and if need be feel free to ask more questions as they arise. These boards were a great help to me during the whole process. Good Luck! :wave2: :wave:
 
Originally posted by Delaware Mike
I'm interested in DVC but don't want to "pay retail". I'd be interested in purchasing resale, but frankly am a little intimitated by everything involved.

Just wanted to add that there's really no good reason to arbitrarily discount purchasing points directly from DVC. Via a resale, about the lowest you can get your cash outlay right now is $80 per point--that's $72-75 base cost for the points, $4 for current year's maintenance and closing costs of $3-4 per point for a 150-pt contract.

DVC is currently selling points at SSR as low as $85 each. No closing costs. No maintenance until your Use Year begins.

On the resale market, you will predominately find contracts at the sold-out resorts (all but Saratoga Springs.) The occasional SSR contract will appear via resale, but not often since it's so new.

All of the resorts except SSR have contracts that expire in 2042--essentially giving you 38 years' worth of ownership. SSR contracts run through 2054, giving you 49 years of ownership.

Other considerations:

- DVC will finance your purchase for up to 10 years with as little as 10% down. If you go resale, you need to pay cash or arrange your own financing.

- If you buy SSR now, you would get your first year's points in 2005. There are no monthly payments, accured interest, or maintenance fees until at least May 2005.

- OKW and SSR have the lowest annual maintenance right now.

- If you can find a resale contract with a year's worth of banked points, it can certainly be a bonus. Avoid any "stripped" contracts which have their 2005 points already borrowed. You won't actually have any points to use until 2006 (or 2005 if you borrow again.)

- If you buy through DVC, you can virtually complete the transaction in one phone call. They require a $500 deposit (via credit card) to get the ball rolling. A week later you'll receive your paperwork which must be signed notarized. As soon as you return that paperwork, you're done. In fact, you can actually book your first stay immediately after you give the deposit.

- If you buy resale, plan on about 6-8 weeks between the time you begin negotiating on a resale to when you are actually in the DVC computers.

- Decide if the Home resort priority is of any value to you. You are able to book your Home resort (the one you own) up to 11 months ahead of your check-out date. All other DVC resorts can be booked 7 months ahead. There are some particularly busy times of year (Holidays, December, October and November to some degree) which can be more difficult to book outside of the 11-month window. If you hope to spend the majority of your visits at a single resort, definitely buy at that resort. But, if you don't really have a strong preference or will consistently be unable to book your trips more than 7 months ahead, Home resort is virtually meaningless.

- In the end, buying a resale will almost certainly save you some money--particularly if you are planning on a large volume of points. You just need to decide if the time and effort is worth it to you--not to mention the 11-12 additional years you forfeit on the back end by purchasing points at a resort other than SSR.
 




















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