Finally Getting Real Close, Your Opinion?

[lugnut33]

OK, wife and I are finally really close on deciding to buy into DVC. We had the big discussion about it this morning and we concluded it's something we are going to do. So, if you don't mind I want to lay out what we are thinking of doing and just give me your opinion on if you see anything wrong with our logic.

1. We are looking at purchasing a 120 point re-sale contract at Saratoga Springs with a June use year. Current contract has 120 points for '08 and 120 points for '09. Will offer $79 per point (currently offered at $78) and they pay '08 dues and we'll pay '09. Obviously we pickup closing costs. At this price we are able to purchase with cash.

2. We want to use it on a 1 bedroom villa every other year during the last week of August. According to the points chart it will cost us 225 points for the one week stay (and yes, we are going to stay there the whole week, I don't feel like moving to save 50 points). Reason we want every other year is so we can go other places and don't want to be locked into Disney all the time.

3. I really wanted to buy into new Bay Lake Tower and was willing to wait, but for the price I don't see how we can pass up Saratoga Springs. On the resale market we are able to pick-up the right amount of points for what we want. Not forced to buy into what will probably be a minimum 170 points at $115 per point at the BLT. And that minimum contract may not get us a one bedroom villa for a week at the BLT.

4. Once we start going in '09, if it's something we really enjoy, we can always add on!! And if we are at Saratoga Springs the add-ons should be a lot less than add-ons at BLT. Besides, if we really want BLT, we would be able to purchase an add-on at that resort.

5. I've read way too many of the Saratoga Springs threads and know that there are very few negatives to the resort. Almost all the reviews I see are positive.

 

[Laxmom]

Sounds like a well thought out plan!! Good luck with your contract!!

 

[bobbiwoz]

You've given it lots of thought, and now, here's hoping we can Welcome you home soon!

Bobbi

 

[lah3hh]

You do have a very well thought out plan...and now sounds like the time to put it into action. Good luck to you!! We have SSR as one of our home resorts and have never regretted it for a moment. I think if you read enough on the boards you will see positive and negative for each resort. Truthfully I think they are all wonderful and buying into DVC is one decision we have never regretted. We love it so much I think we have had about 10 add ons since we joined 10 years ago. I hope you enjoy your membership as much as we do and let me prematurely say...Welcome Home neighbor!!

 

[lugnut33]

LOL, it's been a very good day. I made the proposal, got a phone call about 4 hours later from Jaki at Resales DVC and we went over it. About a half hour later she called to say she contacted the seller in Michigan and they accepted the proposal. We bumped it up to $80 per point to help it clear ROFR. I'll get the paperwork and then submitted to Disney for ROFR. Yeah!!

 

[dizney4us]

Great choice, you'll love it!

 

[oakmanner]

Here's some Pixie Dust to help you pass ROFR...

Dennis-

 

[Laxmom]

Congrats!! Now the fun part begins!! You have just entered a process that requires a lot of patience. It is so worth it in the end!! Here is some more pixie dust that everything goes quickly and smoothly!! We went to ROFR on April 2nd or so and closed on June 9th. We were in the system on the 19th and point poor by the 20th!

 

[moredisneyplease]

Good luck in ROFR!!!

 

[lugnut33]

Thank you everybody. We are totally looking forward to many decades of fun vacations. (Why do I have this feeling I'll be adding on, if this goes through?)

 

[DVC Eric]

We had addonitis and still would like more good luck with rofr.

 

[lugnut33]

In case anybody is following this,

Got to work this morning and in my e-mail were 4 document that Jaki had sent me. So, I and my wife have to sign the contract for sale and purchase, that I will fax back tomorrow morning (7/8). The contract lays out exactly the terms that have been offered by me and accepted by seller, which is $80 per point, seller pays 08 fees I'll pay 09, 120 points for 08 and 120 points for 09 coming. The closing cost is $450. The deed will expire in 2054 (amazing if I'll be around to see that).

Also tomorrow I'll send in the $1000 deposit by certified mail.



Once they have the deposit in escrow they will do the title search to make sure it's clear. The contracts are then submitted to Disney's review board for Right Of First Refusal. That process should take 2-3 weeks, but can take longer.

If approved then final documents for closing are sent to me and the seller and the deal is done once the money changes hands. The title company then notifies Disney to change the ownership names. After about 2 weeks I will be able to obtain the membership ID number via a phone call to Disney. I can also begin to make reservations.

About a month later Disney will mail an owners packet. Finally, about 3 months after getting the membership ID number, the title company will send the Title Insurance Policy and mail the original deed.

 

[aaronmckie]

Thanks for spelling out the process lugnut33
The wife and I are thinking about going the resale route, and am grateful for the details you have given.
Make sure to post more as it happens, please

*edit* I knew your name sounded familiar... we were both at the Dis meet in Chicago
Get to MC'ing one already

 

[mikeandkarla]

congratulations! You are in great hands with Jaki and ****. The resale process typically takes close to 8 weeks to finalize. You are dependent on so many other people in the process (DVC, closing company, seller, buyer, agent), that depending on how efficient time wise they are is really the key to how long it takes. Sounds like you have a terrific plan. One word of caution: ADDONITIS. DVC becomes very addicting. Good luck.

 

[lugnut33]

Thanks for spelling out the process lugnut33
The wife and I are thinking about going the resale route, and am grateful for the details you have given.
Make sure to post more as it happens, please

*edit* I knew your name sounded familiar... we were both at the Dis meet in Chicago
Get to MC'ing one already

As an update, I faxed in the contract signed by me and my wife and sent by certified mail the $1000 deposit. Now, the waiting begins, but I'll keep you updated on the progress.

PS: I need to get working on some ideas for a November meet, however I got lots of travelling between now and Sept.

 

[lugnut33]

It's now July 14th and all the papers are at Disney for Right Of First Refusal.

Sent the deposit on July 8th, and it was delivered to Timeshare Title on July 10th (kudos to the US Postal Service, I can't believe it went from Wisconsin to Orlando in 2 days!!).

Today I received an e-mail from Jaki at Resales DVC with a pdf attachment of the signed sellers agreement and she indicated that all documents were now in Disney's possession.

Shouldn't take too long (approx. 3-5 weeks) to find out if we are DVC members.

 

[tryntje]

Congrats! We really like the options the DVC offers.

Just remember - you are NOT locked into staying at SSR if you want to try other resorts.

There are lots of NON-DISNEY / PARK options available to DVC members around the globe. I like that if we're traveling internationally, I don't have to worry if I've chosen a good hotel. I trust Disney to do that for me, and they're saving me $$.

We purchased ours as a way to force us to take some time off, at least every couple of years. DH is a workaholic of the worst kind, and "having" to use the points sure comes in handy in the logic dept of why we should get away.

 

[littlestar]

I'll keep my fingers crossed for you on ROFR.

 

[lugnut33]

Well, everybody's pixie dust must have worked because 3 days after being submitted for ROFR I found out that we are now members of the DVC!!! Just got the e-mail a couple minutes ago with the Disney acceptance. Jaki my salesguide at ********** wrote, "Hurray. Disney has approved you purchase in record time. 3 days".

She says it will be about 2 weeks before the info will be at the title company to prepare the closing documents. I will get an e-mail at that time and we'll set-up for closing.

 

[4 Little Bears]

Just wanted to congratulate you and wish you a Welcome Home! SSR is a beautiful resort.