Info. for those purchasing a resale...

[Gigashadow]

BTW - WDWFantasy, Congratulations!

 

[Dean]

Originally posted by lizziepooh
I want to make sure I understand the maintenance fees issue.

If I purchase a resale in May 2002 with an October use year with no banked or borrowed points, should I be negotiating to pay 3 months maintenance fees instead of a whole year's worth that the seller is requesting?

The neutral positon for maint fees in that situation would be 3 months worth. I just bought BW points resale with nothing until December and paid no fees for this year but will owe the fees for next year. Most owners who are selling and most timeshare sales people don't understand this. They takes the stand that you should pay the years fees if you get the points. That's the way it is in the rest of the timeshare world.

If you are buying from Disney, the first year you pay either the rest of the years maint fees or when the points start depending on whether you get points for the use year then running or starting the next use year cycle. Those that bought WLV with 6 months remaining in the use year and didn't use MB got the old points and in 6 months they get new points and in effect got maint fees at a reduced rate that first year. Those buying BC will have their fees start either in July or their use year whichever is later.

Alternatively, that last year or 2 will have a decreased fee one way or the other though it depends on how they ration the points at to what the exact amounts will be.

 

[wdeversole]

lizziepooh -

Nothing's banked or borrowed, but are there any current year points available (from October 2001 use year?)

If more than 75% (9 months or Jan-Sep 2002) of the October 2001 points are available, then the full year of 2002 dues would be reasonable.

If no October 2001 points are available, then I would only offer to pay three months of dues.

 

[kem330]

Dean, my conjecture about DVD releasing some of their inventory was referring to the last two years of the current program(2039- 2041). I am in total agreement that they will not extend the program- that would be even more of a nightmare! I guess what I should really be thinking about is will I still be around to see what happens!

Lizziepooh- I concur - you should not pay anymore than 3 months of maintenace fees if any. How DVC charges and what happens with resale are two different things.

 

[Dean]

Originally posted by kem330
Dean, my conjecture about DVD releasing some of their inventory was referring to the last two years of the current program(2039- 2041). I am in total agreement that they will not extend the program- that would be even more of a nightmare! I guess what I should really be thinking about is will I still be around to see what happens!

The reason I thought you might be saying they would give additional time is that in the previous discussion we had on this subject, several though DVC would give the rest of the year to wrap up the points. It seems that some felt they were promised a full complement points that last year or so.

There will not be a way to ensure everyone uses all points the last year or 2 other than giving more rooms or more time. DVC doesn't own enough points to make up this deficit from tht alone. The only choices are to 1. extend the usage for a few months (almost a year), 2. ration the points some way or another or 3. let us fight amount ourselves to see who will use and who will lose points. They could prorate points, use a lottery or anyone of several other options. While I'll be 84 and may not care, I may be fighting for that handicapped unit at OKW.

 

[crisi]

Since its me who has been posting on my slow resale, I'll respond.

We finally closed and I got my membership number today!

Here was the timeline:

3/4 Made offer and was accepted the same day. Signed documents and faxed back.

4/4 Informed Disney waived right of first refusal and it would be about two weeks til close.

4/16 Received closing package

4/17 wired money and 2nd day air'd closing package.

4/29 hear that the seller forgot to have something notarized and it needs to be sent back

5/8 The sale has finally closed. I should be able to call member early next week

5/13-15 Member services doesn't have me in their database

5/16 I'm finally in. About ten weeks total.

There wasn't any rush for this, and I suspect my lack of rush may have pushed the timeframes back a little. But if anyone NEEDS their sale to close quickly so they can make reservations, they may not want to do a resale.

I don't want to sound unhappy - having no need to close quickly this wasn't a big deal for me, just something I think others should be aware of when weighing the DVC or resale question. I am quite happy with my resale and would recommend it to anyone buying DVC and not in a rush.

 

[WDWfantasy]

Originally posted by Gigashadow
BTW - WDWFantasy, Congratulations!

Thanks Gigashadow! We are very excited. Congratulations to you too. I just saw your post about your resale purchase add-on. Have fun using those new points.