Happy to say we are buying resale!

[DisneyBliss7]

After long time researching/learning about DVC, DH and I are finally ready to buy!!! We will be buying resale. We will have the amount we want for a down payment in Jan. 2015. Our next trip is planned for Sept. 26th-Oct.4th 2015. If we start the process early January do you think we'll be fine for booking our trip on those dates? We are going to own at AKV where we want to stay. I know buying resale I have to be patient and wait for the right one to buy. I've been looking for a long time and I usually see one that would work for us

 

[Silver19]

You generally don't need to shell out significant dollars until maybe 40 days after your contract is sent to ROFR. So if I were you I'd probably start making offers in very early December. That way your points should be loaded by February.

I don't think you're going at an exceptionally busy time though. We once arrived on October 5 for an 11 day trip and it was not very crowded. So you should be able to find something after your 11 month window and before the 7 month window.

 

[supersnoop]

You generally don't need to shell out significant dollars until maybe 40 days after your contract is sent to ROFR. So if I were you I'd probably start making offers in very early December. That way your points should be loaded by February.

I don't think you're going at an exceptionally busy time though. We once arrived on October 5 for an 11 day trip and it was not very crowded. So you should be able to find something after your 11 month window and before the 7 month window.

I'm going to disagree with this advice.

Since you said "down payment," I assume you'll only have a portion of the money available. A deposit, usually 10% or $1,000, is due immediately. If you won't have that available until January, you'll need to wait until then to start.

Also, the last week of September begins the EPCOT Food and Wine festival. That's a very busy time, at least at the EPCOT resorts, and maybe Magic Kingdom, too. If you can't start making offers until January, there's a chance you'll be within the seven month window by the time you can book a room with your points. I don't think you'll have a problem getting a room at Animal Kingdom, but you might not get your first choice.

 

[lovin'fl]

Since you said "down payment," I assume you'll only have a portion of the money available. A deposit, usually 10% or $1,000, is due immediately. If you won't have that available until January, you'll need to wait until then to start.

And to add to this, you need to pay in full at time of closing (so 6-8 weeks after you make offer you need full amount). Resales don't do financing...you have to secure that on your own.

 

[DisneyBliss7]

And to add to this, you need to pay in full at time of closing (so 6-8 weeks after you make offer you need full amount). Resales don't do financing...you have to secure that on your own.

Can't I finance through my bank?

 

[DisneyBliss7]

Also, the last week of September begins the EPCOT Food and Wine festival. That's a very busy time, at least at the EPCOT resorts, and maybe Magic Kingdom, too. If you can't start making offers until January, there's a chance you'll be within the seven month window by the time you can book a room with your points. I don't think you'll have a problem getting a room at Animal Kingdom, but you might not get your first choice.[/QUOTE]


But as long as we are staying at our home resort, we shouldn't have a problem getting in for the dates we want? That was my understanding, but I may be wrong...?

 

[supersnoop]

But as long as we are staying at our home resort, we shouldn't have a problem getting in for the dates we want? That was my understanding, but I may be wrong...?

Everyone has access to your home resort at seven months; you don't get any preferential treatment. You'd need to have your membership created and points loaded to your account before the seven month window opens in order to utilize your home-resort advantage. Regardless, I think you'll be okay booking Animal Kingdom even within seven months during the Food & Wine Festival. You just might not have as much choice of view or building; don't plan on a Value or Club studio.

 

[bakerworld]

If you're not interested in the Value rooms, you should be OK just short of the 7 month window because after the 7 month window you'll probably only get Savannah view as they seem to be the last to book (most point expensive) - oh, and you'll be in Kidani, which many prefer.

I'm sitting here wondering why you're not going for the cheaper option of SSR of you're not interested in the Value rooms?

 

[disneynutz]

Can't I finance through my bank?

Maybe a personal loan but probably not a loan on a timeshare. You will be paying a high interest rate so any savings owning will probably go towards your loan payments.

Bill

 

[DisneyBliss7]

If you're not interested in the Value rooms, you should be OK just short of the 7 month window because after the 7 month window you'll probably only get Savannah view as they seem to be the last to book (most point expensive) - oh, and you'll be in Kidani, which many prefer.

I'm sitting here wondering why you're not going for the cheaper option of SSR of you're not interested in the Value rooms?

I'm not opposed to buying at SSR or OKW...AKV is our favorite(specifically Kidani). 9 times out of 10 we'll be staying at AKV. Does it really make that much of a difference of getting the dates we want if AK isn't my home resort? I'm up for saving money if I can

 

[bakerworld]

Sincerely doubt getting your dates will be a problem, especially at Kidani, as long as your room type remains a non-issue.

We own at Kidani. It is one our contracts we're thinking about selling to afford the Polynesian - emphasis on the thinking as the value selections available at Jambo was part of the reasoning decision for purchase. For many years we didn't stay there at all - consistently trading out successfully in the spring months. Now we're making a conscious effort to use it for the value selections to see if it's a definite keeper. The CM's there are so nice and we love the multiple bars with their different themes. If all goes as planned the value selections will more than balance the larger annual dues and bus dependency. After all where else can you vacation for a week on 60 points?

 

[KAT4DISNEY]

I'm not opposed to buying at SSR or OKW...AKV is our favorite(specifically Kidani). 9 times out of 10 we'll be staying at AKV. Does it really make that much of a difference of getting the dates we want if AK isn't my home resort? I'm up for saving money if I can

AKV is large enough that it almost always has availability at 7 months - especially Kidani which is the larger between the two buildings of Jambo and Kidani. I'd guess that most times you'd try to book at 7 months out you'd be able to book AKV if you are wanting either Standard view or Savannah view but there would always be the possibility of not getting it and thus remaining at your home resort of OKW or SSR if you go that route (which you would book at 11 months out. Just to clarify that there is never a guarantee of getting a room at your home resort but booking at 11 months without counting on limited quantity rooms such as concierge or value you should not have issues).

So that would likely work just fine but since you know you want AKV virtually all of the time I'd lean towards just purchasing there and keeping it simple. And resale prices on AKV are very similar to OKW and SSR but the MF's are higher so it will cost a little more over the years to own there.

And back to your original question - I do think it's very likely that you'll be able to book a room at Kidani for the time you are looking at if you are able to be closed on the resale by the middle or end of March.

 

[skier_pete]

I'm not opposed to buying at SSR or OKW...AKV is our favorite(specifically Kidani). 9 times out of 10 we'll be staying at AKV. Does it really make that much of a difference of getting the dates we want if AK isn't my home resort? I'm up for saving money if I can

I'm going to come out and say if AKV is far and away your favorite, you should buy there. (We are in the process of buying there ourselves.)

I think it is unlikely you will have an issue with booking at AKV as long as you have everything done prior to the 7 month window, and possibly even beyond that. To make the 7 month window, since you are going in September, that means you need to have your account ready by late February. Since closing resale takes about 3 months (we are starting month 3 on our purchase), you may want to get the ball rolling in Nov/Dec. As others have pointed out, you typically need a 10% deposit when purchasing.

 

[supersnoop]

AKV will cost you $5-$10 more per point up front, plus $1 per point in annual maintenance fees. Since there are so many rooms available at AKV, the extra cost is only worthwhile (in my opinion) if you need to book a Value Studio on a regular basis.

 

[bellyxray]

I thought I saw financing was available through The Timeshare Store (if that is where you are going) to purchase the resale

 

[MinnieMouse100]

I thought I saw financing was available through The Timeshare Store (if that is where you are going) to purchase the resale

Timeshare store doesn't offer financing but they work with a company called timeshare lending We worked with Barb from timeshare lending and she was very helpful.

 

[jupers]

I am in the process of financing too. Timeshare store gave me 3 places they work with for financing. I picked one and emailed them the contract I made an offer on.