Just Comitted To Buy....Have ???'s

[Tink10]

Hello,

I may have just done a silly thing.....

We've been considering purchasing DVC for some time, but just made up our minds to definately do it last night. We love the BWV and really wanted to purchase there. We had considered buying SSR, but didn't want to initially buy 150 points. We always try to travel in off-season and rarely stay for more than 4 or 5 days because we have family in Florida and we spend half of most vacations there.

Because of this, we decided to purchase a smaller point resale, figuring we could always buy more points via Disney or resale in small increments. We also wanted to buy a small enough resale, so we could just pay for it outright & not finance.

Well, this morning a BWV 25 point listing was posted on TTS and my hubby told me to grab it, so I called and we committed to purchase it.

Now, here's my question.....we'll have 25 BWV points (barring any unforseen circumstances).....If we purchase an additional 50 points at another resort after we close, how does the reservation process work? Can we use the 11 month window at both resorts?

Any info anyone can give us on this would be greatly appreciated......(and please, don't chuckle at us for only buying 25 points to start off with

 

[Desnik]

I am new to the DVC thing. We bought in Nov. from Disney. It is my understanding that the 11 month priority is for your home resort only. So let's say you have the 25 points at BWV, and then 50 points at another DVC resort, let's just say BCV. Let's say you wanted to reserve BWV and you needed 50 points to do it. You would be able to call at the 11 month window and book the days using your 25 points. Then call in the 7 month window and use your BCV points to complete the ressie. In the off season it might not be a problem. It would be fairly easy to get a standard BWV view at the 11 month window in the off season, but not so simple at the 7 month window.

I would advise to buy a small contract that would cover a full 5 night stay at the BWV when you like to go. I know when we like to go in Nov. a standard BWV studio room is 45 points. 25 points only gets you a couple of nights.

 

[Tink10]

Thanks so much for your reply....

We're going to keep our eyes open for another smaller point contract at the BWV and with any luck, something will turn up.......

Thanks Again!

 

[elfbo]

But dont forget if you need 50 points. you can use the current 25 points and then BORROW 25 points from the next year for that BWV. So if you are going once every other year, then the 25 points would be enough to get you the 4-5 days you want.

 

[Desnik]

Great point elfbo! I didn't even think of that! Maybe because I couldn't imagine not going evey year!!!LOL

 

[Tink10]

Thanks To Everyone!

I'm a bit dazed because this all happened so quickly this morning. My hubby totally surprised me by being so anxious to buy DVC. He's normally the "well, do we really need this" type of guy. He'd never admit it, but he turns into more of a kid when we're there than either mysef or my daughter.

I'm hoping that we won't have any issues with the Right of Refusal thing.......That's the one that scares me...

 

[tjkraz]

DVC will also be able to sell you points at the sold-out resorts. The cost is a fixed $89 per point. They occasionally pick-up contracts via ROFR and then resell the points.

You will have to wait until the number of points you want comes available for your Use Year, but there is some logic to paying DVC's prices for an add-on. I don't know how much you are paying for your 25pt contract, but my guess is that it's over $80 per point once closing costs are added in.

You can add-on in any increment over 25 points. If you want to finance through DVC, it must be 50 points or more. After you close on this resale contract, wait about a week for your info to get into their computers. Then call and speak to a Guide. He/she can tell you what is available.

 

[Tink10]

We paid $78 a point, and I'm sure if we would have waited, we could have botten a better deal....But, on that small number of points, the savings would have been minimal. Had we wanted a larger number of points, we would have waited until something came around. Basically, we just wanted in and treat our first purchase as a learning experience.

Our closing is set to be on or before March 1st, then, once that's complete, we'll get on the list for BWV points through Disney.

Thanks Yet Again For All Of Your Help!

 

[tjkraz]

We paid $78 a point, and I'm sure if we would have waited, we could have botten a better deal.

Are you paying maintenance fees or closing costs? Are those included in the $78 price? Are there any banked or borrowed points in the contract?

 

[mmjm]

Becareful buying a numerous small points contracts on the resale market, I understand your wanting to pay cash but the closing costs (up to $ 525) on a 25 point contract could cost you an addtional $21 per point, which will increase the purchase price to $99 per point, 78 + 21. Something to think about.

 

[mydogdrew]

We paid $375 closing on a 50 point resale. This would add $15 per point at closing for you. There is one other consideration - let's say you really wanted 50 points (not 25) and you are concerned about the closing cost. Simply call disney after you close on the first 25 and get on the list for a 25 point add-on (with no closing costs). Its not so bad when you spread it over 50 or more points. While Disney has a minimum of 150 points for new contracts, they will sell any member (regardless of how may points they own) an add-on for another 25.

 

[Tink10]

Our "plan" is to close on this 25 & then get on the list with Disney to purchase at least another 50 ASAP......

We figures out the per point cost with everything added in & it comes to $93pp.

We were just happy to find a smaller lot at the BWV which was what we really wanted.

 

[tjkraz]

Our "plan" is to close on this 25 & then get on the list with Disney to purchase at least another 50 ASAP......

We figures out the per point cost with everything added in & it comes to $93pp.

Nothing wrong with that. It's not the most economical way to go, but I suspect 99% of DVC buyers do not go with the absolute cheapest scenario on the face of the Earth.

I don't think you need to worry about ROFR--DVC isn't going to pay $93 per point for a contract that they could only resell for $89. And I wouldn't beat yourself up over the $78 per point base price. BWV points seem to be going for about $75 each now, and the smaller contracts always seem to get a couple dollars more due to demand from people wanting to do exactly what you are doing. I suspect if you had tried to negotiate, the broker would have quickly informed you that the seller's price was firm.

Definitely go through DVC for the rest of your points. For small add-ons like that, you'll expend a lot of time and energy trying to find a resale contract--particularly one that matches your resort and Use Year.

 

[Tink10]

Thanks so much for your reassurance!

Like I said, if it were a larger amount of points, I would have waited for a better deal, but even if I would have fotten the points at $73, the difference would only have been $125.......I can't help but wonder how long we'd have to wait for Disney to have BWV points available.

Thanks Again! Everyone here is Great!!