DVC Purchase as a UK resident

[Djjon]

I'm a UK resident, buying DVC for first time. This post is intended as a timeline to help others in same situation.

I'd researched in advance - wanted 160 or 200 points at AKL and didn't want to pay top dollar, so researched depleted (in 2014) contracts. Had cash coming at end of March to pay for it from a maturing investment. Contacted TSS in early March to signal intentions and get a broker allocated. Signalled needed quick as possible buy - and would do everything possible to make that happen

31 March, on arrival of funds, emailed, then called and made an offer for a 200 point contract ($4 below asking) - with me covering costs - them covering points maint (as only under 5 left in 2014 thought that fair). Offer accepted - it was a fair offer I think, we'll see. This day setup an Xe.com trading account - as they were way cheaper than my bank for international transfers.

1st April contracts arrived, signed by myself and other party, and returned to TSS. Used Xe.com to setup a quick transfer at 4pm UK for deposit value and used UK's faster payments system to get the transfer to XE same day.

2nd April - payment arrived, at 7pm (UK), so 3pm in florida confirmed at ROFR. Cant fault TSS or *** - all excellent. *** confirmed the XE transfer was seen as a domestic transfer so only had domestic wire costs to cover - so I'll have less to pay at end.

Now, it's just a waiting game. Hopefully will pass ROFR, as price offered was below average (slightly) for AKL.

 

[finchy3]

I'm a UK resident, buying DVC for first time. This post is intended as a timeline to help others in same situation. I'd researched in advance - wanted 160 or 200 points at AKL and didn't want to pay top dollar, so researched depleted (in 2014) contracts. Had cash coming at end of March to pay for it from a maturing investment. Contacted TSS in early March to signal intentions and get a broker allocated. Signalled needed quick as possible buy - and would do everything possible to make that happen 31 March, on arrival of funds, emailed, then called and made an offer for a 200 point contract ($4 below asking) - with me covering costs - them covering points maint (as only under 5 left in 2014 thought that fair). Offer accepted - it was a fair offer I think, we'll see. This day setup an Xe.com trading account - as they were way cheaper than my bank for international transfers. 1st April contracts arrived, signed by myself and other party, and returned to TSS. Used Xe.com to setup a quick transfer at 4pm UK for deposit value and used UK's faster payments system to get the transfer to XE same day. 2nd April - payment arrived, at 7pm (UK), so 3pm in florida confirmed at ROFR. Cant fault TSS or *** - all excellent. *** confirmed the XE transfer was seen as a domestic transfer so only had domestic wire costs to cover - so I'll have less to pay at end. Now, it's just a waiting game. Hopefully will pass ROFR, as price offered was below average (slightly) for AKL.

Best Wishes!
Thank's for the heads up

 

[bakerworld]

AK is a nice place - we own there since '08 and just stayed for the first time in a value studio - liked it better than the full savannah view. Maybe we were just lucky but when I saw availability for a value studio the 3rd week in December I grabbed it so we'll see what kind of view we have then.

We spent 5 days there - never went to the parks because we were there for Spring Training baseball games - and had the best time.

 

[CMOORE185]

AK is a nice place - we own there since '08 and just stayed for the first time in a value studio - liked it better than the full savannah view. Maybe we were just lucky but when I saw availability for a value studio the 3rd week in December I grabbed it so we'll see what kind of view we have then.

We spent 5 days there - never went to the parks because we were there for Spring Training baseball games - and had the best time.

Unless you want concierge or a hard to get time of year I would buy a resort like SSR and book AKL at 7 months as it is not hard to book there at 7 months. AKL is both more expensive to buy and the dues are much higher than SSR.

 

[Djjon]

Brought AKL as because as a uk resident best flights deals typically 11 mo out. For us buying where we want to stay made sense ! ROFR is a long wait !!!

Taking risk on a booking at 7 months coinciding with the flights just seemed too big a risk for us

 

[Mickeys chum]

Brought AKL as because as a uk resident best flights deals typically 11 mo out. For us buying where we want to stay made sense ! ROFR is a long wait !!! Taking risk on a booking at 7 months coinciding with the flights just seemed too big a risk for us

That's why we bought there in 2007 and haven't regretted since. We go every 2 years and stay for 14 nights having the comfort go knowing we have always got what we wanted at 11 month window and like you say the flights from the uk are too unpredictable to take a chance!!

 

[Minniesgal]

Unless you want concierge or a hard to get time of year I would buy a resort like SSR and book AKL at 7 months as it is not hard to book there at 7 months. AKL is both more expensive to buy and the dues are much higher than SSR.

I wouldn't do this as a UK resident. Now AKV is sold out it is getting harder to book I noticed it a lot harder late 2013 to swap at 7 months. And as others have said it is best to buy flights at 11 months with confirmed accommodation

 

[McCrae]

Have you looked into setting up a US bank account to pay for dues?

Gives you the option to pay in monthly instalments and if you decide to rent out points can make the process easier.

 

[Djjon]

Have you looked into setting up a US bank account to pay for dues?

Gives you the option to pay in monthly instalments and if you decide to rent out points can make the process easier.

Considering it. - was wondering if domestic wire is a payment option as if so may be worth using xe.com for first year. Will likely open account on next Florida visit.

 

[Minniesgal]

Have you looked into setting up a US bank account to pay for dues? Gives you the option to pay in monthly instalments and if you decide to rent out points can make the process easier.

Thought you had to have a uS address to open a bank account

 

[McCrae]

Thought you had to have a uS address to open a bank account

To open an account all you need is the correct ID, passport, recent bill with your home address, driving license etc.

I bank with Wells Fargo and use a UK address. Easy to do all your banking online.

I have a direct debit set up to pay my dues monthly. Disney set this up when i asked them.

 

[Djjon]

Passed ROFR 1st May pretty much and started closing 20th May.

Closed 2 days ahead of date expected - yesterday in fact.... really happy now just waiting for new member pack. Entire process easy as pie, just have to be patient.

Managed a UK to US funds transfer via wire in 3 hours. Xe.com are fantastic, and saved money as the exchange rate moved almost 10% in my favour during the process.

Price paid = $74 pp - I paid closing them points maintaince - for 200 pts AKL, which are mostly used in 2014, but all free 2015.

Already want to add on another 100, but that's a job for next year.

 

[finchy3]

Congratulations!