I need your help!!!!

[ellenec]

I have a friend who is a DVC member at OKW who never uses her points- She has had her membership for 10 years and often rents me the points for quite a bargain. She mentioned to me that she would be interested in selling it to me. Is there any restrictions from Disney on buying it privately??? What would be a reasonable price- It is 10 years old and she has 210 points. Could I assume her contract???? Please please I need your suggestions! My parents are DVC members if that helps- Thanks Ellen

 

[Lew]

If you were to purchase her points you would be purchasing her contract.

Disney has right of first refusal on sales. You will need to present the sales documents to Disney before the sale can be closed. If the negotiated price per point is too low Disney will excercise its right to purchase the points.

 

[Dean]

DVC has appreciated in 10 years. You will need to give somewhere around 20% more than her purchase price or else DVC will buy it back at the price you agree on, they have that right. You could work out a rebate plan between you if you wanted to get around this and the friend is willing to sell it to you cheap. If she's just willing to help you out, I'm sure you can make it work. If she simply doesn't know the value and you're trying to pick it up for a song, you will be out of luck.

I'd call DVC administration and get the info. I know there are provisions for passing it to immediate family without having to worry about the Right of First Refusal but I think that's as far as it goes. The exact value depends on the points availability. You could also go on as an associate member and just pay the dues and use the contract if your friend is willing. Good luck.

 

[ellenec]

Hi Dean!
Thanks for your response- I was not trying to take advantage of my friend, I was just trying to find out a reasonable and fair price. Will Disney let me take over her contract and make the payments? Who do I contact? Once again I appreciate all your help-

 

[kem330]

You can not assume her contract. I don't believe she can transfer it to you without a cash purchase. If she bought 10 years ago I would assume she paid the purchase price by now and is only paying annual dues. You could offer to purchase around $58/point and see if it flies. If all points are available that would be a great deal. You should contact a closing company such as Holland and Knight or Timeshare Closing Services and they can handle the contracts, escrow, title search ,etc. required to make the sale. Closing costs will be approx $450 and you could negotiate that with the seller. Also a transfer fee of $75 paid by the seller and of course the prorated dues.

 

[Dean]

Call member Administration, they should be able to help you. Have your friend there so they can get the ok to talk with you. Good luck.