Getting ready to sign my life away...but first..........

[Tomskatt]

HMmmmmmmmmmmmmmmmmm what's the real deal on resales? We have a deal pending for 150 points at HH and as you all know, they (Diz) picks up closing costs. Is this really the best way for us to go? I am soooooooooooo green!!!!!!! I just don't want to feel like I got ripped off when all is said and done. Any advice would be appreciated! Thanks in advance!
Kathy

 

[BobBrazeal]

It's all according to where you want to stay most often. If HH is where you take most of your vacations, then HH is the place to buy. If you want to do most of your vacations at WDW you might want to check out resales or VWL. The key is to buy where you plan to stay the most.

 

[ohioMickey]

I am no financial wizard by any means, but.....

We bought VWL through Disney and I do not feel like I got ripped off at all!!! Of course, we really like WL and at that time there were no WL resales (there is one now) so resale really wasn't an option for us.

They interest rate Disney gives you (if you sign within 30 days of your tour) is very competitive. We did some checking in various places and could not find anything lower for this amount and length of loan. We financed over 10 years with 20% down at 10.95% with no penalty for early payment.

In terms of Disney paying the closing cost, it is no sweat off their back since they own the title agency, the title insurance company, and the financial institution...but hey...more power to them.

anyway, we did not feel "taken" in the least.

Hope this helps...

 

[slimplaw]

Ditto, ohioMickey!

It was almost a privilege to give them my money.

 

[Richyams]

Resales really have no downside. You just need to make sure that the number of current/banked/borrowed points is reflected in the price. A contract with everything intact and even some banked points, will command a higher price than a contract with all current points used and next years already borrowed.

If you get on a reseller brokers list for an HH property, you will probably save some money.

Then comes the most important consideration of all. BUY WHERE YOU PLAN TO STAY!!!!

If you intend to vacation in the summer at HH, owning there is very important. If you intend to mainly vacation at WDW, buy at a WDW DVC resort.

 

[Richnj]

I Wish I had more to give!

 

[Dean]

Agreed there is no downside to resale unless you pay more than you would through DVC. With 150-170 points, that would not be difficult to do. Between paying around $3 pp for closing costs and an additional extra amount of maint fees, it would be easy to pay as much or more than through DVC. Given the same price and resort, I'd rather buy through DVC. Also contracts that small are relatively hard to come by and tend to come at a premium. I'd say that if you want a small contract and your first choice is at one of the resorts that DVC is currently selling, it's likely not worth the wait and work to look for a resale.

 

[normr]

Don't be apprehensive and think you're signing your life away, once you stay At DVC especailly in a larger unit, you feel it was the best decision you ever made and you'll wonder why you didn't do it sooner.

Just make sure like everyone says, buy at the place you want to stay at the most, so if your plans are to stay at HH most of the time, then buy there, but if your plans are to stay at WDW the most, then the 7 month window may not always work for you.

 

[wdwoldtimer]

Is there a FAQ or something on resales? Something that explains exactly what they are, who is selling them, the details on how they can be used etc?

We have our original interest at OKW, followed by an add-on at OKW. We are currently working through another add-on at the VWL. All of these are through Disney. If I can get a better price on resale points, I'd consider it.

 

[MalificentMe]

See this web site www.atimeshare.com Jaki is a really great person who can answer and handle all of your resale questions. I found her to be most helpful and honest when we purchase our Boardwalk resale recently. Good Luck, Tammy

 

[RobDoc]

Is there a FAQ or something on resales? Something that explains exactly what they are, who is selling them, the details on how they can be used etc?

Resales are DVC contracts being sold by members. They can be purchased directly from the member or with assistance of a broker. Once the contract deed has been recorded in the name of the new owner, he/she will have all benefits of any other DVC Member.

<a href="http://www.dvc-resales.com">The Timeshare Store</a> is the sponsor of this website and has helped many of us here with a purchase.

Enjoy!

 

[mickeyc]

When considering a resale you not only have to factor in the price per point you must also include closing cost plus maintenance cost. For example, if a resale at BWV is $ 70 per point for 150 pts. the cost would be $ 10, 500. You must also include $ 400 closing cost & maintenance fees $ 575 for a total of $ 11, 475. The cost per point would be $ 76.5 per point, which currently is more than Disney is selling if you buy from them direct. However, they do not have a resale office, which some other timeshares offer.

If you purchase a 150 pt. contract directly through Disney the cost would be $ 11, 250 which includes closing cost and Disney will prorate the maintenance fees depending upon use year. The upside to the resale is that it would be at BWV which has sold out. Each resale has it's plus and minus side to evaluate and it is up to the buyer to decide if the price is right. Good luck! I hope it works out for you.

 

[KMarie]

With a resale, the terms of the sale are negotiable, including the price per point, who pays the current annual dues, and who pays the closing costs. With Disney, the terms are not negotiable.

However, the resale market seems to be hot right now, and many sellers are not negotiating much. But, you can always try by making and offer and see what the seller says. Some resale contracts are being sold before they are advertised for sale, and people are getting on broker waiting lists to be called if what they are looking for happens to come up for sale. I've bought two resale contracts within the last year that way.

I've also bought through Disney, and it's true that they make it easy. The closing also seemed to happen faster than the resale market, but other people's experiences may be different than mine.

Buy where you will stay most so you can book your vacation 11 months in advance at your home resort. That decision may dictate whether you go resale or through Disney. Disney is now selling at VWL, HH, and VB. OKW and BWV are only available resale. HH and VB also are available resale. I haven't heard of any VWL up for resale yet.

Good luck in making your decision.

 

[wdwoldtimer]

Thanks everyone for all the help! We'll take a closer look at resales for this add-on.

 

[Tomskatt]

THANK YOU!!!! This board is fabulous! I feel like I can get some real honerst information and support! We are going ahead with our purchase and should be closing on 150 HH points on the 5th of July! I am really getting excited! Thank you so much everyone for all y our help!!!!!!!
Kathy