I put in a bid on a resale today!

[InstImpres]

I would say the fees are really money so I would suggest going toward that but that is JMHO

So what should I do? Offer more per point or pay the fees or closings? I am just lost on this.

Thanks again for the help!

Apri

 

[tacomaranch]

Thanks Sandy and all my friends at "home" I will offer up the fees and see if it helps.

Wish me luck, April

 

[Von Drake]

I hope it goes well for you. I will be watching the 'boards for updates.

 

[tacomaranch]

I sent an email requesting them to call me on Monday. I think I will either offer up more money for the points or the fees. I feel this is a good contract for our family. I will have to borrow almost 2k but I have the rest.

Time will tell and I will update. Thanks to all for the information that got me started and the help to date. Pixie dust to all of you for being so kind!

April

 

[calypso*a*go-go]

April,
Don't make yourself too nervous over this. One thing about OKW is there are always good contracts available. I think the reason is because there are many members that purchased during the early years of DVC that are now either tired of going to WDW, or their kids are grown and not interested anymore. You can just about always find contracts with banked points. If this one works out for you...great. If not, just move on to the next one.

 

[tacomaranch]

April,
Don't make yourself too nervous over this. One thing about OKW is there are always good contracts available. I think the reason is because there are many members that purchased during the early years of DVC that are now either tired of going to WDW, or their kids are grown and not interested anymore. You can just about always find contracts with banked points. If this one works out for you...great. If not, just move on to the next one.

Thank you so much, that really brought me back to reality. There are always contracts, so maybe not this one but another one that could be better for us.

It is so easy to get too caught up in all of it. Will I pass, will it not! What can I do to fix it and make it pass. I put in a fair offer and it was what I can afford. I will offer them $220 more to make it $76 a point and that is all I can do.

Time will tell and life goes on. We can still go back to Disney but we will just rent points or stay in a resort hotel. Simple enough.

Thanks for getting me back to earth.

April

 

[calypso*a*go-go]

Well, the true reality of this process is you can't get a "bargain" no matter how hard you try due to ROFR. So, there's really no reason to keep searching for better deals as you're just making it easier for Disney to buy it back. Just keep watching the ongoing ROFR thread to make sure your offer is in line with what's currently making it through and plan accordingly.

Good luck and I hope you hear back soon!

 

[LisaS]

Did you find out how many points come with this contract? You posted it was either 190 or 410. With the retail value of points at $10 each, that translates to a difference of $2200 in the value of this contract. It should be stated very clearly in your paperwork exactly how many banked points, current points and next-use-year points are available.

 

[tacomaranch]

Hi Lisa,

I sent an email and left a message. I am sure that Disney is going to get this one, but it is not life and death. I know they told me once and I honestly forgot. For some reason I think it is the 190 now and then the 220 in June. It sounds right. Who knows, it might go thru.

I wanted to work with timeshare adventures but the guy who they assigned me to just doesn't seem to care much. I told him I was very serious, had cash and yet he just doesn't call and say he has something or to look at a listing. Oh well.

If all else fails we will just buy the 175 points at SSR from DVC and count our blessings.

Thanks for thinking about us Lisa. I will post back on Monday.

DS is crying for a nap and mommy must take it with him.

All the best, April

 

[skibum]

Don't worry too much about it. As my dad used to say, everything happens for a reason. We were ROFR'ed last year, and ended up purchasing SSR. We decided we could still stay at the other resorts (esp. OKW - not too hard to get into) at times, plus we got 12 more years and lower maintenance fees.
We decided that, although it cost more, we were actually getting better value.
Good luck. However it turns out, i am confident you will be happy.

 

[T.E. Yeary]

Handling the Disney Vacation Club Resales requires a great deal of knowledge and expertise as they are unlike any other on the market. It is imperative that you use a broker who specializes in this area to achieve the outcome you desire and avoid some of the unpleasant pitfalls by inexperienced brokers.

Warning signs for BUYERS:

1. A small amount of listings in their inventory (Indicates NO track record).

2. Talking with agent leaves you unsure they know the product. Ask questions about banking, borrowing, points in holding, etc.

3. Unreturned or late response to your inquiry (Where will they be when you need help with the ROFR, Closing Process & getting into the DVC system? A knowledge of the right people to contact in case of a situation is imperative.)

4. Mistakes on postings on their website. Example: OKW, 2 bedroom Wk 6 (DVCs are in points, not weeks and certain size units.)

5. The company tells you that you can purchase BWV for $65 a point and clearing the ROFR will be no problem. (They will get their commission when Disney exercises their “Right Of First Refusal” so they really don't care if you are a new owner or not. In fact, they prefer it, because it's less work for them and they don't have any worries about the closing process or anything else.)

6. Do they have an office? (Many don't, ask for directions, or look up their address, if it's a residential area or a P.O. Box????)

7. The company advertises NO Closing Costs. They are either calling the closing costs by another name or not giving the buyer & seller the legal protection needed to pass on a free & clear title. Read the fine print in the listing agreement and closing paperwork. Remember, “there is NO free lunch”.

Franchises:

The latest trend in the Resale business is for brokers to align themselves with a national franchise in order to legitimize their operation, thereby creating a false sense of security to the general public. Examples: ERA, Century 21, GMAC, RE/MAX, etc. Some Resale brokers go from one franchise to another after the number of complaints build up, they simply purchase a new franchise and it's business as usual. Most legitimate and ethical businesses should be able to use and operate under the same name for many, many years. In fact, if their reputation was one they could take pride in, they would insist upon it!

The above statements are certainly not meant to be construed to include "every" agency that is backed by a franchise. There are definitely some reputable Resale offices with ties to franchises. My warning is, it's NOT always the case. Protect yourself, look for the same warning signs with these companies as you would with any other Resale company!

Tom Yeary

 

[DVCconvert]

tacomaranch -

Tom Yeary in the previous post has offered some VERY good adivce. I'd suggest you take it to heart. I am not compensated by his business in any way shape or form....but I'd suggest that if things don't work out for you in your currect effort (I didn't see that you were trying to buy via a broker) you give The Timeshare Store a chance to aid you in accomplishing your objective.

HTH

 

[LisaS]

I wanted to work with timeshare adventures but the guy who they assigned me to just doesn't seem to care much. I told him I was very serious, had cash and yet he just doesn't call and say he has something or to look at a listing. Oh well.

If all else fails we will just buy the 175 points at SSR from DVC and count our blessings.

I'm not familiar with that broker. If things don't work out, you might consider working with The Timeshare Store. They are topnotch. Many of the people on these boards (myself included) purchased resale contracts through them. I believe they have sold more DVC resales than any other broker so they really understand DVC which makes the whole process smooth and easy. If you want to see their current listings, click on the "DVC Resales" link at the top of this page. Everyone in their office is very friendly and helpful. If your salesperson is not available when you call with a question, someone else there will take the call and help you out. They sponsor these boards and as you can see from the post above from "T.E. Yeary" (owner of The Timeshare Store) they are active participants here on the board. Tom is as honest and upstanding as they come. (I should say at this point that I do not work for The Timeshare Store. I'm just a satisfied customer!)

 

[OKWMom]

April,
Good luck with the purchase. You are correct in that if this deal does not work out, another will come along. When we were contemplating our purchase, it was hard for me not to become anxious as I kept thinking, “if we can get this closed before the end of this month, we will be able to take advantage of the home resort priority for our December trip”. I was so busy worrying about the short-term, I wasn’t really paying attention to the important factors. Thank heavens DH was (as always), the level head in our family. He told me to make our ressies through CRO and if we could work it out after we closed, we would reserve on points. If not, we would bank the points for an additional trip.

BTW, we purchased for the same reason you are now purchasing. I have a DD9 with autism and have found the DVC resorts are perfect for our stays. We have always stayed at OKW because the size difference gave us the room to bring some of her sensory items with us (think large ball to bounce on, among others). I think having a villa has made the difference in us having a pleasant, successful vacation and wishing we could go home early. The hot tub has never failed to calm her after getting over stimulated in the parks and we have used the kitchen when she absolutely would not eat anything but her favorites.

I felt by purchasing, we were guaranteeing her a vacation at the place she loves for the foreseeable future. It was a financial stretch for us, but so was the price we were paying through CRO. Best of luck to you and your family.

 

[tacomaranch]

Hi friends,

I realized after getting a response that I wrote timeshare adventures, which is who I am working with now and waiting to get ROFR, but I did contact Timeshare STORE as they are a sponsor and the guy they gave me is the one who did call answer all the questions but never anything past that. He was good at calling back but I just wish he would have put me on a list for what I wanted and then call me and say he has something. It is like he just forgot about me. It was the STORE not the adventure.

The adventure I am just a person who put in a bid. There is nothing personal about it, just a transaction. Almost sad considering the amount of money I am spending. To me it is a lot, not to them.

I hope when I get ROFR I can get another person at the timeshare store to help me and call when somehting comes up for us.

Wishing all my friends pixie dust My DS helped with all the icons!

 

[LisaS]

I hope when I get ROFR I can get another person at the timeshare store to help me and call when somehting comes up for us.

It's also a good idea to do a daily scan of the listings at TTS. The information is laid out in a way that makes it very easy to compare contracts. TTS is great to work with but they also get very busy at times. So it's possible that you will spot that "perfect" contract in their listings before they have a chance to call you. As you can imagine, other buyers are doing the same thing and the first to call will get the contract.

Good luck! I really hope everything works out for you!

 

[tacomaranch]

Thanks Lisa and friends,

I am not going to worry as much any more. This is what it is and if I don't get this contract then I will keep looking. I would like this contract as it fits our needs but I bid too low.

Lessons learned.

I will let you know what happens as we proceed. OKW momma, that you for a nice note. Our DS has autism, so like you we are trying to set up something for him that he will enjoy a lifetime. He loves WDW and he is only 3 so we will put this in his trust and his guardians will take him when I am dead. It is so hard with autism to plan a future when we don't even know what the next day brings. I looked in the mirror and I have aged 10 years in 10 months. I said that to my DH and he could not dispute the fact. OKW is perfect because of the quietness of the resort and the size. I agree. Do PM me anytime.

Back to the program. As always, I have made so many dear friends here who I don't even know but feel so supported. Thank you all! April

 

[tacomaranch]

I got all the contracts yesterday but had an all day trip to Logan, UT.

I have a few questions before I sign and want to wait to get it in writing what fees are going to be. Then I will scan and send back and we are then off to get ROFR. I did raise the price to $76 per point to see if I can get it thru. Thanks for all the great suggestions.

Wish me luck, April

 

[skibum]

Good luck!!

 

[senecabeach]

Sending TONS of Pixie Dust to YOU !!!