If you purchase a resale, can you still finance through Disney?

[dcibrando]

If you buy a resale on another website... can you still finance it through Disney?

 

[btrim]

You can only finance through Disney if you buy directly from them. You must have your own financing if you buy a resale from someone else. Also there are closing cost when buying a resale and there are no closing costs if you buy through Disney.

 

[TammyAlphabet]

If you mean can you finance through Disney if you purchase points at a previously sold out resort, then the answer is yes. But, to purchase them, Disney has to have them in inventory, either through default by the owner or through exercising ROFR.

Just call DVC and get a guide. The guide will, most likely, try to convince you that if you buy at SSR, you will be able to stay everywhere. Technically that is true, but, the reality may be quite different, only time will tell.

If Disney has not inventory for the resort that you want to buy, just ask to be put on the waiting list. I did this to become a member in February of this year. I was told by more than one guide that I should just buy SSR, that it would take a loooonnnnggg tiiimmmee..... It took 16 days. JMHO. Good Luck.

P.S. there is a 50 point HH contract on the TSS site. Might be just what you need to get your feet wet in DVC. Then you could add on at SSR at anytime after.

 

[dcibrando]

how about both of these:

HH50-09-0607 Hilton Head-$73/pt.
September 50 $3,650.00 50
Notes: 50 points coming on 9/1/05. Priced at $73 per point.

and

SS100-08-0509-3 Saratoga Springs-$81/pt
August 100 $8,100.00
Notes: 100 points coming on 8/1/05. Priced at $81 per point.


total: 11750 for 150 points... this way I can make reservations 11 months at either place... and I got the extra years at Saratoga.

Now what happens if I resale... are these small numbers hard to get rid of?

 

[utahkennedys]

The smallest resale contracts actually go the fastest on resale. It is the larger contracts that sit for a while typically, at least in the 3+ months I have been watching.

 

[dianeschlicht]

Now what happens if I resale... are these small numbers hard to get rid of?

On the contrary, they are easier to resell.

 

[dcibrando]

so it may be in my best interest instead of purchasing one say 150-200 points at HH, purchasing one 50 at HH and one 100 at SSR (or wherever) ?

 

[jel0511]

One thing to note, you only get the 11 month window with the number of points you purchased at each resort. So, at 11 months you can only use the 50 points at HH and the 100 points at SSR, you can't combine them until the 7 month window.

 

[dcibrando]

ugh.. i didn't know that... that stinks

 

[CarolMN]

ugh.. i didn't know that... that stinks

Not to me! It wouldn't be fair to do it any other way. Think about it!

Best wishes -

 

[tjkraz]

so it may be in my best interest instead of purchasing one say 150-200 points at HH, purchasing one 50 at HH and one 100 at SSR (or wherever) ?

You'd also pay closing costs twice. If you figure on $400 per contract, one 150-pt contract would cost you about $2.60 per point to close. Two contracts totalling 150 would be two closings for an average of $5.20 per point.

 

[dianeschlicht]

Actually, that is exactly why we purchased all our points at one resort, but in two different contracts.

 

[dcibrando]

did that save you money? or did you just purchase 2 small listings at the same resort so you can easily resale them later?

 

[Wish I lived in Fl]

But with banking and borrowing, couldn't OP get 150 HH points to use at 11 month point.
SAy bank 2005 HH, then in 2006 use 2006 HH and 2007 HH points.

IN 2005 use 2005 SSR and borrow half 2006 SSR .
In 2006 bank half 2006 SSR.
In 2007 use 2007 SSR and the banked half 2006 SSR.

So each year would have 150 points at 11 months window.

 

[andriade]

Don't forget you'd be paying maintenance fees for both places too.

 

[Dean]

If you buy a resale on another website... can you still finance it through Disney?

DVC will not finance your resale but you can add on through DVC and finance. I'm only aware of one company that will fiance a timeshare resale and they are very high. Home equity, special credit card deals and simply cash are usually the best options. In general it's a poor choice to finance timeshares.

 

[tjkraz]

DVC will not finance your resale but you can add on through DVC and finance. I'm only aware of one company that will fiance a timeshare resale and they are very high.

I'm assuming Dean is referring to Tammac. If so, also note that the loan Tammac writes is not secured by the property, which means you will not be able to deduct the interest on your taxes. In most cases, if you itemize, the timeshare will qualify as a second home deduction. But I've been told that is not the case with Tammac, nor would it apply for any type of signature loan or other note that is not directly attached to the property.

If, however, you finance through DVC or use something like a Home Equity line to finance, the interest is normally deductible for those with a single mortgage.

 

[Dean]

I'm assuming Dean is referring to Tammac. If so, also note that the loan Tammac writes is not secured by the property, which means you will not be able to deduct the interest on your taxes. In most cases, if you itemize, the timeshare will qualify as a second home deduction. But I've been told that is not the case with Tammac, nor would it apply for any type of signature loan or other note that is not directly attached to the property.

If, however, you finance through DVC or use something like a Home Equity line to finance, the interest is normally deductible for those with a single mortgage.

It is, I withheld the name intentionally so as not to appear to be recommending them. I agree with your statements.