How long did it take to find a contract for you?

[mernin]

Just curious how long you looked for the right contract that met your needs before you found it? How many did you make offers on that you didn't get?

We have been looking (very passively) for the past 6 months and just decided to take the leap. Put in an offer that was gone before the offer could be given.

 

[aokeefe]

It took us about 2 1/2 months (March to mid-May). When I first started looking I had contacted all the resale companies and 1 had one that fit our needs but I wasn't quite ready to jump in. Glad I waited bc I felt more informed as I continued to watch for listings. We put 2 offers on other listings but didn't get. 3rd offer was the charm.

 

[Spork24]

Weve we've gone through the process twice now, both times we found a contract we wanted quickly (days) and both times we were able to come to agreement with the sellers.

Both times we were a bit flexible on how many points we would take, which helps.

 

[Greg36]

We spent probably a year throwing the idea around and doing a little research here and there. When we started to more seriously look at this, and availability, it was probably 3-4 months. We put in offers on two other contracts first, but the prices were way higher then we wanted to spend. We made two offers on two different contracts that did not end up accepted. Both were not ideal contracts and both were largely stripped so it was okay to not reach agreement on a price. A third came around with a different company, at a much more reasonable price, and I called within a couple of hours only to find out it sold. Few days later a forth contract came out from another company (at a slightly even better price) and we were about to move on that one when we got an e-mail from the company handling the third contract we had just missed, telling us that the buyer backed out and we could have the contract if we wanted. We decided to offer full price and we are now in ROFR...

 

[quandrea]

One week. We've added on six times, I think. I was pretty relentless about searching for listings. The market was not as hot when we added on.

 

[minorthr]

Once we decided we were going to buy it took about 2 or 3 weeks. In ROFR right now so hopefully disney passes and we can close.

 

[OlafSchmolaf]

We've been looking more intently for about a month. Before that we did some research on and off for a while. We've offered on 3 contracts but the prices seem a bit high and we're only willing to go to our predetermined max. So, we haven't been able to come to an agreement yet. As I'm reading it looks like prices will fall closer to the end of the year or first part of next year and we can wait that long if needed.

 

[skippytx]

Considered buying DVC for about a year, but took 2 months of looking to get the right contract. Several contracts that suited our needs came up, but we kept missing out on them. BLT has been selling quickly, we tried to put in offers hours after seeing the contract listed and they were already gone. Got the contract we're purchasing by submitting an offer less than 15 minutes after it was listed. We're in the process of closing right now.

 

[w84no1]

I looked for about a week, then got an email from Fidelity and it had the 100 point BWV contract I was looking for. I made an offer and it was accepted. I just sent in the closing docs, just waiting for closing and the recording of the deed. Available contracts pretty much dried up right after that and asking prices increased.

 

[kboo]

Inventory looks to be way down lately.

Back in early 2017, we looked passively and did research for a few months. Then I had in mind a points range, UY, and $per point for 3 resorts we would buy. The first best listing within my range came out on a Sunday AM in an email from TTS. Monday 10am I called and made an offer, at 11am, the sellers countered at $1 more per point, which I immediately accepted. By 2pm I had signed the agreements and paid a deposit, and the sellers signed Monday or Tuesday and it went to ROFR the next day. 9-10 days later we found out we'd passed. Estoppel took a little longer (approx 4 weeks), then closing was fast too. From first offer to points in our account (and first reservation) was something like 6 weeks. I'm spoiled, I know. I don't think it could have gone more smoothly or quickly.

 

[4Kings07]

We've looked at joining DVC since 2010 but it wasn't until this past June that we got really serious about it. In July I started really monitoring the resale sites and within a few days I had found the contract I wanted to place an offer on. It was accepted within a few hours and we just passed rofr yesterday!

 

[ktmo]

I got pretty lucky with both of my resale contracts. The first, I looked for a week. I did ask full price, which knowing what I know now was probably on the high side. It was the right number of points and the right use year, so I was okay paying a premium.

The second, I watched and watched. It sat there, calling me "buy me, please buy me". Finally, after a few weeks I caved and put in a relatively low offer and I heard back within a few hours that it was accepted.

 

[Toreby]

We bought our first contract last year and considered it for about three months. It took us a couple of weeks to find what we thought was the right contract. We settled on a price $2 lower than asking price on a AKV contract. A couple of months later we realized we needed more points and started looking again. We probably looked for a total of 5 months before we found a SSR contract that we're in the process of closing on. In those five months, we lost an OKW contract to ROFR and put in a few bids that were not accepted by the seller.

 

[Nie0214]

Less than a month, but this was February and the market was very different then.

 

[com_op_2000]

Our first two purchases were direct. So no waiting.
Our one resale took about two weeks once we decided that we were going to add on.

 

[prouddaddycdn]

Woke up early last week and decided we should buy a DVC resale. Researched the process for 2 days and chatted with a couple of resale companies and then made our first offer by end of second day. That one sold while we were making the offer so placed a second offer on day 3. Did not hear back from seller despite agent being diligent so made third offer on day 4 only to have the agent for offer 2 call moments later to let us know that offer had been accepted. We cancelled offer 3 and are now in ROFR.

Can't believe how quickly things are being swept up at the moment. Listings are disappearing daily and at high prices. I spent probably 20 hours on these and other boards in 2 days tying to gauge pricing, ROFR amounts etc. and got swept up in the frenzy. I likely paid $10 per point too much for our contract but it came fully loaded with a slew of banked points at AK for the next 2 years and we plan to add 25-50 points through DVC direct to get member discounts etc. so am OK with the slight overpaying.

Will definitely want to add a 100 point contract at BCV this fall / winter so hope the frenzy calms down some moving forward.

 

[rer1972]

First time (around 10 years ago) it took me about a month to find what I wanted (different market back then). This time it's taken about 2.5-3 months, but that also included Disney exercising ROFR on my first offer. Luckily I found something 2 days later that met our needs/budget, and am currently going through the sales process.

 

[mustinjourney]

Woke up early last week and decided we should buy a DVC resale. Researched the process for 2 days and chatted with a couple of resale companies and then made our first offer by end of second day. That one sold while we were making the offer so placed a second offer on day 3. Did not hear back from seller despite agent being diligent so made third offer on day 4 only to have the agent for offer 2 call moments later to let us know that offer had been accepted. We cancelled offer 3 and are now in ROFR.

Can't believe how quickly things are being swept up at the moment. Listings are disappearing daily and at high prices. I spent probably 20 hours on these and other boards in 2 days tying to gauge pricing, ROFR amounts etc. and got swept up in the frenzy. I likely paid $10 per point too much for our contract but it came fully loaded with a slew of banked points at AK for the next 2 years and we plan to add 25-50 points through DVC direct to get member discounts etc. so am OK with the slight overpaying.

Will definitely want to add a 100 point contract at BCV this fall / winter so hope the frenzy calms down some moving forward.

If your contract is fully loaded with two years' worth of points and you paid $10 more than the ROFR prices, then you likely got a really good deal. When I bought, I valued the bonus points at like $8 a point if they couldn't be banked and expired within the next 6 months, and current UY points I valued at $12 since that is what I could easily rent them for at the time through a broker (I had VGF). AKV would be similar. If you have a full 2 years worth of extra points, that is basically worth $20-$24 a point, so even if you paid, for example, $100 per point at AKV, that would be equivalent to paying $76-$80 for a contract that only had the future UY points moving forward.

Don't forget to add your data point to the ROFR thread so that you can help everyone get a better feel for the market. That thread is very useful for all.

And good luck with ROFR! It's nerve wracking and time seems to slow down, but you'll get there!

 

[prouddaddycdn]

I appreciate the comments mustinjourney. I hadn't looked at the deal in that light previously but it certainly feels much better to have gotten a bargain than to have willingly overpaid

I will be sure to post in the ROFR thread later this evening. Hopefully the deal passes through ROFR as my wife and I are quite excited to join DVC.

 

[FireflyTrance]

It only took a few days. I think it depends a lot on the resort you wanted. We wanted GCV, and several contracts had been sitting for months. We were able to offer under the asking price. This was over a year ago. The market seems to have picked up now.