Just bought DVC!

[boardwalkbride729]

Thanks for all the helpful info I guess we weren't as informed as we thought. we just got to sit down and discuss it and we are going to cancel and do a little more research/ look through resale contracts. Now we have another issue, we can't find the business card of the man who sold us the membership

 

[msjprincess]

I would also sign up for emails through the resale agencies. Most agencies send out emails of available listing before they get posted to their website. That's how I found mine. I had an accepted offer within an hour of getting the email with the listing.

 

[KAT4DISNEY]

Thanks for all the helpful info I guess we weren't as informed as we thought. we just got to sit down and discuss it and we are going to cancel and do a little more research/ look through resale contracts. Now we have another issue, we can't find the business card of the man who sold us the membership

Your paperwork will have the information on how to rescind. You will need to fax that request into Quality Assurance I believe - it will definitely not be the guide that you purchased from that you will contact.

 

[suebeelin]

Thanks for all the helpful info I guess we weren't as informed as we thought. we just got to sit down and discuss it and we are going to cancel and do a little more research/ look through resale contracts. Now we have another issue, we can't find the business card of the man who sold us the membership

People are giving very good advice- unless you're sure poly is where you want to stay most or all of the time, look at other options . I'm gong to poly in 48hrs (Tuesdat Jan 26 estimated arrival time noon!!) and have never been there before, so I can't tell you whether it would be my resort of choice. I'm hoping to love it though!!

Boardwalk and bay lake are my homes, and I can say with a resounding affirmative that I will mostly stay at my home resorts (it's actually killing me that I booked late after the 7-11mo home resort period and couldn't get my usual bwv 2bd standards, and am trying poly instead).

Yes it's great that we get to try new resorts BUT it's nicer to buy where you don't mind staying (or where you prefer to stay) most of the time.

Poly is also primarily has studios- we bought dvc so we could stay in a 1 or 2bd. Having a kitchen and laundry in your room is really very nice on a week long vacation with little kids....

Good luck! It's a big decision but you'll also enjoy your purchase that much more when you're sure it's what you want'

 

[disneynutz]

IMO many people who end up with contracts during a cruise or while on vacation at Disney didn't buy, they were sold to. Disney sets the mood, pixie dust in the air, all excited, and they end up with a contract not fully understanding what they bought or that other resorts are available at a discount on the resale market.

If they care about where they want stay and/or want to save more money, it makes sense to cancel the purchase and take the time to learn about the product.

Bill

 

[boardwalkbride729]

Your paperwork will have the information on how to rescind. You will need to fax that request into Quality Assurance I believe - it will definitely not be the guide that you purchased from that you will contact.

Oh really? Thanks that's good to know. I'll need to dig through the paperwork some more then I don't remeber seeing a form like that?

 

[boardwalkbride729]

Thanks again for all of the helpful information from everyone. It's kind of embarrassing to have jumped the gun I guess you could say. We knew we wanted to buy and I knew resale was an option but never looked into it enough to know how big the price difference was. I'm glad that I can come here and get honest opinions from people that know what they're talking about because it is a big decision!

 

[ziravan]

Thanks again for all of the helpful information from everyone. It's kind of embarrassing to have jumped the gun I guess you could say. We knew we wanted to buy and I knew resale was an option but never looked into it enough to know how big the price difference was. I'm glad that I can come here and get honest opinions from people that know what they're talking about because it is a big decision!

No. You're way ahead of the curve because you sought information within the time to act.

DVC is a timeshare. It's a great timeshare in my not so humble opinion. But. There's a reason why timeshares get a bad rap. Getting stuck in a multi thousand dollar purchase that doesn't make you happy can and does give timeshares a bad rap.

Being informed, saving money by understanding resale and most important of all, buying where you want to stay can turn timeshares from a monkey on your back into a great vacation tool.

To me, saving money for you will be a blessing, but that's a fringe benefit of the knowledge you've gained here. Finding where you want to stay, that's the real benefit.

The most often given and quoted advice on the DVC boards: "Buy where you want to stay." It's great advice.

I bought Poly direct. Poly is where I want to stay. Since Poly only has studios, she's not for everybody.

Don't be embarrassed. Be enthusiastic. You're the winner here. Go buy a nice dinner tonight to celebrate. How often do you save thousands of dollars by getting more informed?

Rescind. Research. Rebuy.

 

[kniquy]

Nothing to be embarrassed about! Be thankful that you have the opportunity to purchase the same number of points and save money or be able to get so many more points for the same amount. Resale is a lengthy process but worth the wait.

 

[beagee]

If you look through recent posts on this board, you'll see one from me with the title "Should We Rescind?" My favorite response perfectly summed up all of the advice in that thread: "Yes. I haven't even read your post yet but the answer is yes. If you're asking the question, you should rescind."

We rescinded a few days later and put an offer via a resale site a few days after that. We are waiting for ROFR now.

Like you, we were a little embarrassed. But you know, the 75 extra points we were able to buy at a preferable resort for the same total price ... well, that made the sting of embarrassment pretty easy to bear.

Good luck. It was super fun finding a resale contract. Lots of options!

 

[supersnoop]

Nothing to be embarrassed about. PVB might even be worth the price if that's where you want to own.

There was someone about two weeks ago who posted about buying SSR direct, and it was a large contract. Probably cost them an extra $10,000 and they didn't show up here until after the rescission period had ended. I'd be embarrassed about that.

 

[boardwalkbride729]

If you look through recent posts on this board, you'll see one from me with the title "Should We Rescind?" My favorite response perfectly summed up all of the advice in that thread: "Yes. I haven't even read your post yet but the answer is yes. If you're asking the question, you should rescind."

We rescinded a few days later and put an offer via a resale site a few days after that. We are waiting for ROFR now.

Like you, we were a little embarrassed. But you know, the 75 extra points we were able to buy at a preferable resort for the same total price ... well, that made the sting of embarrassment pretty easy to bear.

Good luck. It was super fun finding a resale contract. Lots of options!

Yay I'm glad you were able to find something, best of luck with the offer! Did you finance if you don't mind me asking? I Need to finance so I'm not sure the order or which to do things.
Do I make an offer on a contract then find so,some to finance? Do I contact finance options and then make an offer? I guess the "what do I do now and how do I do it" is where I'm stuck now

 

[boardwalkbride729]

Nothing to be embarrassed about. PVB might even be worth the price if that's where you want to own.

There was someone about two weeks ago who posted about buying SSR direct, and it was a large contract. Probably cost them an extra $10,000 and they didn't show up here until after the rescission period had ended. I'd be embarrassed about that.

I would like to own there but really I'm not set on it. Not enough to pay that amount. We are a young couple and do t have the largest budget to work with right now but we know we will be going back to Disney for many vacations anyway so this is a good option for us. Since July 2013 we have been to Disney world twice. Disney land once and on 2 Dcl cruises. Disney is always too of the list when we talk about vacationing now and in the future.

 

[beagee]

Yay I'm glad you were able to find something, best of luck with the offer! Did you finance if you don't mind me asking? I Need to finance so I'm not sure the order or which to do things.
Do I make an offer on a contract then find so,some to finance? Do I contact finance options and then make an offer? I guess the "what do I do now and how do I do it" is where I'm stuck now

We did not finance, but all of the resale sites appeared to have an association with a financing company. Once you find a contract that looks like a good match, I would just pick up the phone and call the broker to ask what the processes is.

 

[DisDadDVC]

Yay I'm glad you were able to find something, best of luck with the offer! Did you finance if you don't mind me asking? I Need to finance so I'm not sure the order or which to do things.
Do I make an offer on a contract then find so,some to finance? Do I contact finance options and then make an offer? I guess the "what do I do now and how do I do it" is where I'm stuck now

If I were in your shoes, I would rent points from an owner until you are ready to buy in cash. I strongly recommend against financing this purchase.

 

[lorenni]

I have purchased two contracts using The Timeshare Store (well, one a few years ago and one in process now). I found them to be good to work with.

 

[pmaurer74]

Don't be embarrassed at all. DH and I almost bought AKV 6 years ago but we did not have the money at the time and thought we would within a year... we did not have the money until 5 years later, by then I had known about resale and that is the way we went. Poly does have a longer contract time compared to most on resale and that is worth something too. Still be happy about the memories for years to come, I know we are. The Poly is a great resort but it is worth taking a few days to research and make sure. Good luck and welcome home.

 

[zavandor]

I would like to own there but really I'm not set on it. Not enough to pay that amount. We are a young couple and do t have the largest budget to work with right now but we know we will be going back to Disney for many vacations anyway so this is a good option for us. Since July 2013 we have been to Disney world twice. Disney land once and on 2 Dcl cruises. Disney is always too of the list when we talk about vacationing now and in the future.

What about buying less points now, take a few vacations with them, maybe borrowing points if needed? In the next few years you can save a bit of money and buy another contract if you feel you need it. This way you can experience a few resorts during your stays, so maybe you can find a favorite and add there and you can avoid financing. Interests can eat away a lot of the savings you can have with DVC.