If resale buying..what is the minimum to own?

[lucky_bunni]

I'm sorry, I've searched all over and can't really find an answer to this question. All the other first time buyers on here are talking about buying 200+ DVC points and whatnot. I know the minimum ownership if purchased from Disney is 150 points. I go to Disney about once a year, but am VERY flexable on my dates.. so I could go in the off, off season "adventure". So just to start off, I'd like to just buy 50 points, which would get me 4 nights at OKW in September (Sun-Thurs.. of course). So, am I in the club if I own JUST 50 points? Anyone who can really answer this I will be extremely greatful.

P.S. As years go by, I would purchase more points. Just want to get a start.

 

[vernon]

I'm almost certain the same buy in minimum is for resales as it is direct from Disney. But to be 100% sure I would call one of the resale brokers and ask them. The Timeshare Store has a 800 number so it's not even going to cost you to find out

 

[Caskbill]

There is no minimum if purchasing a resale. It's between you and another party as a private transaction. Disney has no way they can require a minimum.

They can of course exercise their right of first refusal, and I've heard they may tend to do this more often in the case of a first time buyer wanting less than 150 points.

Nevertheless you should be able to get a smaller number. It will have to be someone's add on that they are selling separate from their main contract. It wouldn't be an add-on for you but rather your main contract.

Keep in mind small point sales can be more expensive on a per point basis when you factor in the closing costs if you wind up paying them.

As mentioned, check with the timeshare brokers. They can tell you what the market is like right now and what your chances would be of getting a smaller contract.

Good luck.

 

[dianeschlicht]

Also be aware that with less than the minimum, you will not be able to use any of the other benefits like exchanges or Concierge Collection, it those are things you are inteterested in.

 

[RobDoc]

The minimum purchase available is 25 points. Since Disney has placed that minimum on an add-on, that is the smallest contract that could be available thru resale.

Keep in mind that resale closing costs can add $400+ to the cost of any purchase and, while that cost is negotiable, you may find that you will likely pay a premium for a small contract because of those costs

Just do the math and get the largest contract you find affordable.

Enjoy!

 

[ArnyVee]

The folks are right, the only minimum is 25 because that is the lowest contract that Disney sells.

I bought into DVC with a contract that was 75 points. Also, the contract itself had all of it's points banked from the previous year so I jumped in with 150 points rather than only 75. Be patient and most importantly...get on everyone's call lists! Meaning, contact Shontell (www.DVCByResale.com), Jaki(www.atimeshare.com/disney) & Pat (www.dvc-resales.com) and ask them to keep you in mind in case there are any small contracts out there. Most of those smaller ones are sold even before they hit the websites, so get on those call lists.

I purchased my OKW contract through Shontell and it was a great experience. Except for having to wait for the ROFR to go through.

Good luck!

 

[lucky_bunni]

Thank you all so much for your help. I called DVC today and spoke with two specialists. Although they were hesistant, they did confirm that there is no minimum to own. I also contacted DVC-Resale and they also said that there is no minimum. If you wanted to own just 25 points, you could still be a member. So what I am looking at now is to save up cash to buy 50 points at either OKW or Hilton Head because they have the lowest fees. I've always had the best luck visiting WDW in September anyway because school is back in for most kids and the crowds are down. 50 points would let me stay in a studio at OKW (8 pts. per night) for 5 nights Sunday-Thursday, and have 10 points left over to bank for the next year.

This is great, I'm so excited. Can't wait to get the money together over the coming months. You all keep your fingers crossed! Any other thoughts, I'd be glad to hear. Thanks again

 

[johde]

I did the same thing you did for the same reasons. I own 60 points at OKW. That gives me enough points for 5 nights in a studio at any DVC resort during early December. If I stay at OKW, which I love, I can bank some into next year. If you look at the boards, most people encourage you not to buy VB or HH with the goal of staying most of the time at WDW. When I purchased, I decided that the first contract I found at either OKW or BWV is what I would buy. Even though BWV have higher dues, owning there is almost required for a standard view room.

Let me also suggest that you get on the call list. Most good small contracts never make it to the web site. I would still check the web sites frequently. I was on all of the call list but the contract I purchased I saw on the web site it didn't quite match what I was looking for (I was wanting closer to 50) but I decided it was too good of a deal to pass up.


Jeremy

 

[pstepka]

For those that have bought small contracts...what were your closing costs? Are they a percentage of your purchase and would increase proportionately with how many points you buy? Since Disney pays the closing costs on their contracts, is it a still a substantial savings over buying 150 points through Disney with NO closing costs?

Until I read this thread, I never thought about a small contract for right now, then adding on in a few years (when it's more financially economical for us).

Pam

 

[johde]

My closing costs were $350. I think Jaki said they would be the same up through about 100 points then would increase as the contract got larger. That adds about $7 per point to a 50 point resale. The going rate for small resales seems to be around $72 with all current years points. So, with closing cost thats around $79. A small savings over the current $84 that DVC is charging.

Jeremy

 

[Dean]

Originally posted by dianeschlicht
Also be aware that with less than the minimum, you will not be able to use any of the other benefits like exchanges or Concierge Collection, it those are things you are inteterested in.

That's not necessarily true. It might be harder to use the options with less points but if you can get the number of points together for the required event, no problem. There is no restriction from using them if you have less than the minimum.

 

[lucky_bunni]

So now that I spoke to a rep from DVC, I feel bad that she FedEx'ed me info and I didn't really have the intention of buying through Disney. Like I said, I want to buy resale, and only 50 points. I'm totally interested in going for BWV because she said they have like 4000 points up for sale right now, and they won't last long. I gotta get a new car in the Spring though, and I know I can't have new car payment and a DVC payment, there is just no way. I so wish I was out of college!!!