For those who have purchased resale....

[tigger2on]

How does it all work?
You choose a contract that you like and then what happens? Do you pay at the beginning or when you hear from Disney? Do you place a deposit and then pay final costs when it is approved????

 

[calypso*a*go-go]

You find a contract you're interested in and make an offer on it. If the seller accepts it, a deposit may be required. However, you don't pay the entire amount until the contract has cleared ROFR w/Disney. It is usually handled through a closing service or title company.

 

[AlaskaMOM]

We are in the process of looking. We put in our requests w/ TTS and when something that fit what we wanted came up (only 2 days later) were told that we needed to send a deposit of 20% of selling price so they receive it within 5 days. I had to pass because I only had $500 set aside for a deposit, and would have the cash for the entire contract on the 1st. I guess I was assuming it would take longer for the "right" one to come along!
But on a better note they have now lowered the closing costs, so it saved us $100, now we need to find another contract!

I don't know if this is how it works with all resales or not, just what happened to me.

 

[bavaria]

1) call a resale agent and tell that what you would like

2) wait for a call back, hunt around for a matching resale on line (many don't even make it online before they are offered to customers)

3) complete initial paperwork and send deposit (varies due to amount of contract)

4) wait to clear ROFR

5) work with closing agent to complete final paperwork and send final cheque

6) wait for DVC/MS to load you into the system

7) wait for member information package



It's a lot of waiting, but it's worth it! Just plan to act on your contract, in particular if it's a small one. I received a call 48 hours after contacting TSS, and decided within a few hours to snap it up. I do know that the same contract was offered to a few other customers, who were dithering for whatever reason.

'Your' contract will come along eventually, just be prepared to put down a portion of the total cost right away.

Hope that helps!

 

[Anniegirl]

When we decided DVC was right for us I did some online research. I also got good info from Tom here at the TSS (hi Tom! ), and spoke at length to one of his salespeople. The contract we ended up buying was listed here above in "Current DVC RESALES". I called TSS and the initial paperwork was sent to me right away. We only paid 10% for the deposit and then sat and waited for Disney to go through its ROFR process. It took only 2 weeks to find out Disney had waived its rights. I did have to call the closing company to find out why our closing paper weren't sent in a timely matter and found out they had the wrong email address, this was quickly fixed and we overnighted our final payment and paperwork yesterday. It is my understanding that once the sellers paperwork is received the property will close, the deed will be filed and Disney will take up to 10 business days to get us into their system. It has been an easy, painless process but I did keep an eye on everything and was able to intervene when we got briefly derailed. I would do this again (and pobably will ) somewhere down the line. Were you looking for BCV as well? Hope you join us soon!

 

[carlos1117]

Call the TTS and they can walk you thru all you need to think about.

 

[T.E. Yeary]

To those responding to the OP, I really do appreciate your support! It means alot to me and to my staff!

Thanks,
Tom