DVC Resale

[TiggerStac]

Has anyone ever bought DVC thru a resale company, if so, what company any good/bad experiences??
We met with Disney and started to purchase 3 years ago, got home and changed our mind...now it's time to purchase

Thank you!!

 

[JimMIA]

Many, many people have and I'm currently in the throes of doing just that. I can tell you that it is a long, frustrating, and complicated process...but you MAY save some money.

I personally think resale may be better for add-ons than for first purchases, but that is only my experience. Many people have had good results, and everybody's experience is different. We had a bad start with an unethical seller which has undoubtedly clouded my view of resale. If my current contract doesn't go through, I will buy direct from DVC and pay a little more for the convenience.

The process is as follows:

First you decide which resort you want to own and how many points you want to buy. Then you start looking at available resales. The Timeshare Store -- the sponsor of this forum and the realtor we used -- is one of the resellers, but there are others. You can click on the Current DVC Resales link above and find TSS's inventory. You can also look on the DVC Community Forum at the link entitled "Anybody made it through ROFR," go to the last page or two, and you will find a compilation by Beca which lists deals which have gone through, been ROFR'd, or are waiting.

Second, you make an offer and the buyer accepts. (Incidentally, under Florida law, you have the right to withdraw an offer within 10 days, even if the seller has agreed, so you have a bailout option if you don't like what you're seeing.)

Third, the contract goes to DVC, which has a Right of First Refusal (ROFR) on all resale contracts. They can buy the contract at the agreed terms, or they can let it pass. Trying to fathom the DVC logic in what they ROFR and pass is a major spectator sport on the DVC Community Board (which BTW, may give you some idea of what is a good price for a particular property) DVC must make a decision in four weeks, I believe. Two weeks is more normal, and they have made a few decisions with stunning speed. But count on two weeks for that.

Once you pass ROFR, you wait for closing to take place, which can easily be another couple of weeks.

Once you close -- and you now actually OWN DVC -- there is a time lag before you get "in the system," and can make reservations. From what I've seen, that can take anywhere from a couple of days to two weeks. I saw one post where someone thought they'd been told 8-10 weeks, but that seems to be misinformation.

I think they were talking about the overall time period from offer to "in the system," and 8-10 weeks is not unreasonable for that time period.

 

[debbie in Seattle]

I just completed one resale purchase and am in the process of a 2nd resale purchase. I didn't go through Disney themselves because I wanted my home resorts to be the BWV and BCV. Why 2 you ask? I have 2 kids (grown up) and wanted to make sure each had equal shares when I'm gone. My purchase for the BWV was through Timeshares by Resale and I dealt with a gal named ********. She was great-guided me through the process of my offer and answered all my questions. Started the process January 11 and made my first ressie on 2/24. Now, my 2nd purchase I'm going through The TImeshare Store and have felt I'm being 'pushed' and I'm not feeling as comfortable with the process-perhaps it's who I'm dealing with-I don't know.
I've found myself arguing with her over facts I know are correct and I've just completed on my other purchase. Timeshares by Resale did everything via emails and faxes-I'm being told The Timeshare Store does 'mailings and I have to be home to accept.' Well, I work 10 hour days, my husband works long hours and I'm hoping that we can email and fax instead. The faxing issue just makes the process so much quicker instead of waiting for the mail to come and go. I have not been notified by Timeshares by Resale my process is done, I wired my balance due to them on 2/11 and on 2/23 I received a 'welcome' packet from DVC. I called and they gave me my membership number and I got to make my first ressie! According to my paperwork, once the balance is rec'd, the deed can take 8-10 weeks to receive. So, no need to wait for your deed!
Hope this helps.

 

[JimC]

Bought from Pat Spell at the Timeshare Store. She was professional, prompt in following up on everything and patient at answering any and all questions. We would use her again.