How long did it take you to find the right contract?

[connorlevismom]

We have been looking for a resale AKV contract with a September UY. Anywhere from 100-150 points. We have made offers on a couple of $67-70 per point and have been flat out turned down. I looked at the ROFR thread and that does not seem to little to me, according to that thread.

What am I doing wrong?

Kristine

 

[disneynutz]

We have been looking for a resale AKV contract with a September UY. Anywhere from 100-150 points. We have made offers on a couple of $67-70 per point and have been flat out turned down. I looked at the ROFR thread and that does not seem to little to me, according to that thread.

What am I doing wrong?

Kristine

You are dealing with people.

Bill

 

[DenLo]

If you look closely at the ROFR thread you'll notice how few contracts are listed. So few, that there are not really enough contracts there to say that they represent the average amount that AKV contracts are selling at. Have you consulted your agent at the resale company? Often they have a good idea what contracts are selling for with their company. Also if you ask for lower price per point are you also asking for the seller to pay all of the closing costs or current year MFs? Maybe you could ask for a lower price per point but then pay closing costs or current year MFs.

 

[htmlkid]

We have been looking for a resale AKV contract with a September UY. Anywhere from 100-150 points. We have made offers on a couple of $67-70 per point and have been flat out turned down. I looked at the ROFR thread and that does not seem to little to me, according to that thread.

What am I doing wrong?

Kristine

I purchased my resale at the largest resort Saratoga and I made offers on probably 30 contracts before one was accepted. Look at it as a game and don't be in a rush and you will find what you want at the price you want.

 

[KAT4DISNEY]

It sounds like one of your goals is to purchase AKV at a great deal since I'd consider $67-$70 to be a very reasonable price for AKV from what I've seen. Not the lowest perhaps but not the highest either and it's a LOT lower than what I sold our contracts for in March.

If you're going for the great deal then you have to be prepared for offer rejection. If you're looking for a particular contract then you may want to determine a top price you are willing to pay for getting getting that UY or point amount. You may think the offers are reasonable but the people selling also have to agree.

 

[etemplet]

I'm in the process of determining exactly what I want. We became interested last week while at Disney. The whole process is gonna be fun.


Cheers,
Gene

 

[DVCconvert]

What am I doing wrong?

nothing...ya just haven't found the right seller yet...keep at it!

 

[etemplet]

It sounds like one of your goals is to purchase AKV at a great deal since I'd consider $67-$70 to be a very reasonable price for AKV from what I've seen.

Disney wanted $112 per point for AKV last week when we took the tour. The prices I'm seeing resale are dirt cheap compared to Disney. My wife and I are just not intestesed in the AKV. But we are looking.

Cheers,
Gene
Pearl River, LA

 

[wdwnomad]

It took me about 7 months from when I started looking until I finally closed. I had two deals that went south. One filed for bankrupty right before we closed and another backed out within the time frame aloted in the contract.

Since we had time on our side we had the luxury of waiting for the perfect contract and getting it within what we wanted. I got 150 points at SSR for $50/point. We made numerous offers. Many we never heard back on. Yes, it was frustraighting at times but in the end it was worth it.

One of the biggest issues that we ran into with SSR and I think AKV will be the same is that many people still have loans on them. Both are newer resorts so many people financed their purchases. Those loans I think run 10 years. Many people can't or won't come up with the cash needed to pay off their loan after what you are offering.

 

[Bonnie151]

We were lucky in that we bid on a contract about a week after deciding we wanted to definitely buy into DVC. However, I was fairly certain that the contract had been on the market for at least a month as the wording indicated that the 2011 points were coming up (Aug) and not already available. The price was also already fairly low ($62pp VWL) - between that and the fact that it seemed to have been on the market for a bit, we decided to bid $54pp and it was accepted.

 

[connorlevismom]

Thanks for all the insight!

We currently own 425 points. 175 at AKV and 250 at SSR, so really we are just looking to add-on for a good price. Do we NEED the points? Probably not. But it would be nice to have 100 or so more points. It seems that we keep going to WDW more and more so we would just like a few more points (yea right, that is what I said when I wanted to add on the FIRST time).

We do have time on our side so I guess we will just have to wait it out.

 

[Jenbabe411]

I had been looking for a while but once I started making offers It only took me a couple of weeks.

 

[Annabell]

I got 150 points at SSR for $50 point.

I did some research on the resale price (watching what others have paid in the ROFR thread) and thought $50 was a fair price to pay for a SSR resale contract. I have been trying to buy such contract for quite some time now. Offered many times but all rejected and sellers were all firm on their asking price of around $65, even for stripped contracts. To be honest, I get a bit discouraged now for buying a resale. I never knew it would be that difficult, especially if you see all the great contracts that have passed ROFR in the ROFR thread ! I wonder where these people get these great contracts !

Also, many people here on the board say it is a buyer's market... I don't really believe so as those contracts go really fast. They sell within a day or few days even sellers are firm on the asking price. Quite often I get to hear that the contract is already gone when I call after seeing a newly listed contract. They go so fast ..... unbelievable !

Well, maybe I need some time to adapt to the idea of paying $65 per point and then go ahead...

 

[GoofItUp]

I think it may also depend on where you are looking. We bought our 2nd contract through Fidelity. I wanted a really good deal on an SSR contract, Sept UY, and 100-150 pts. We were rejected several times before I found the right one. When I contacted another broker with my offer, they acted like there was little chance of it going through and it, in fact, was rejected. Fidelity never acted like they cared what I offered -- they were willing to present whatever I said to the seller. It made me wonder if other brokers "coach" their sellers to hold our for a better deal if possible (and thus net them a bigger commission) while Fidelity is just wanting to push through the sell. I don't know if that holds true or not, but it's just something I've had playing in the back of my mind for quite a while...

 

[wdwnomad]

Also, many people here on the board say it is a buyer's market... I don't really believe so as those contracts go really fast. They sell within a day or few days even sellers are firm on the asking price. Quite often I get to hear that the contract is already gone when I call after seeing a newly listed contract. They go so fast ..... unbelievable !

Well, maybe I need some time to adapt to the idea of paying $65 per point and then go ahead...

Don't know if you noticed yet but Fidelity updates their listings on Friday afternoons. I called them numerous times on Friday afternoons putting in offers. Like you said, the early bird gets the worm. If you call Fidelity ask for Sharon. She was great to work with.

Their website isn't the easiest to sort through. What I used to do is copy the listings into Excel and then sort them by listing number. I would save that list. When the next week's listings came out I would copy and sort it again. I would compare that list the previous list to see what the new listings were.

 

[Deb & Bill]

Just a guess, but since AKV is so new, I'm gonna bet that the person selling the contract needs to get out from under it, but they still need to pay Disney for the remaining owed on the contract. If they sell too low and have to pay real estate fees, they come out owing Disney a lot of money just to get rid of it. And that just might not be possible for them.

 

[n2mm]

It took me 6 months to find the right add on contract. My criteria wasn't too large. Mostly the same U/Y, the current points (banked points would've been icing on the cake) and the price I wanted to pay = $55. I was only looking for another add on for BWV. I would've like to add on at BCV, but the price there is still strong, so changed my mind. I was lucky as I got what I wanted on the second try. I didn't have to negotiate since $55 was the asking price.

I think someone buying new has more flexibility since they are not particularly tied to one U/Y. I agree about being ready. I went through Fidelity and called and left a message when I saw the contract, plus I sent an email via their website, then on Monday morning I called as soon as they openned.

 

[connorlevismom]

Don't know if you noticed yet but Fidelity updates their listings on Friday afternoons. I called them numerous times on Friday afternoons putting in offers. Like you said, the early bird gets the worm. If you call Fidelity ask for Sharon. She was great to work with.

Their website isn't the easiest to sort through. What I used to do is copy the listings into Excel and then sort them by listing number. I would save that list. When the next week's listings came out I would copy and sort it again. I would compare that list the previous list to see what the new listings were.

I will check that out. I was not aware you could request a certain broker at Fidelity so I was a little nervous about going that route.

Kristine

 

[n2mm]

I will check that out. I was not aware you could request a certain broker at Fidelity so I was a little nervous about going that route.

Kristine

I too had a successful first resale purchase with Sharon. It went very well!

 

[JWG]

We decided to buy an add-on in July 2010. After a few weeks of not finding what we wanted, we bought direct.

We were looking for a BLT contract <100 pts with an August use year. The August use year was the issue.

A 50 pt. contract with an August use year finally came on the resale market in March, 2011. So, that was 8 months later. We bought it, too.

Resort, number of points and use year really matter in the likelihood of finding a contract. I could have bought BLT with a February use year 100 times before the August contract came up.