Just fininished writing my down payment . . .

[keishashadow]

took the plunge and made an offer on a resale for VWL - Yahoo!!!!!!

Went with the general consensus of "buy where you want to stay", even though the annual fees are somewhat higher and I'm not sure if I can use the 11-month window for a few years (due to vacation senority issues).

I do have more questions (of course):

1) How long does it take DVC to exercise their ROFR?

2) once we close, hopefully within 7 weeks, how long to get into the reservation system - do I just keep calling them to find out if I'm in yet? Sort of anxious, I need to book for 2/06 in connection with 3 night cruise.

3) will I get a info packet with details as to discounts (read something about January discouts on resort rooms - is this in connection with points or on a cash basis), cruises, AP, etc?

Anything else I'm forgetting? Thanks.

 

[JimMIA]

Well, first of all, CONGRATULATIONS AND GOOD LUCK!

took the plunge and made an offer on a resale for VWL - Yahoo!!!!!!

Went with the general consensus of "buy where you want to stay", even though the annual fees are somewhat higher and I'm not sure if I can use the 11-month window for a few years (due to vacation senority issues).

I do have more questions (of course):

Of course.

1) How long does it take DVC to exercise their ROFR?

Supposedly, they have 30 days, but most probably happen in 2-3 weeks. This is nothing scientific, but my gut impression is that they tend to ponder a little longer with VWL and BCV, especially BCV. However, there have been situations where there was some technical problem with a contract, something got lost, etc where it has taken a lot longer. We had one poor soul who waited about 10-12 weeks because of some glitch...and then got ROFR'd!

Go here http://www.disboards.com/showthread.php?t=720134
and click on the last page for the latest ROFR info. You can also look for other VWL contracts and see how they did - that will give you plenty to worry about. Also a great support group, as you will see. Send Beca your info and she will add you to the list.

2) once we close, hopefully within 7 weeks, how long to get into the reservation system - do I just keep calling them to find out if I'm in yet?

Usually about 10 days or less after closing. The closing agent will tell you when you have closed, then you wait a week (if you can stand it) and call member services.

Sort of anxious

Welcome to resale!

3) will I get a info packet with details as to discounts

I believe you will get a packet with your membership cards, owners manual, and some other documents. You will also start receiving the newsletter. You'll get info quicker (and sometimes more accurately) here.

Anything else I'm forgetting? Thanks.

Yes. You're welcome.

 

[ErinC]

Congratulations you will own the best DVC there is!!!! I'm a little bias though!! I think ROFR has been taking a few weeks. Check out The huge thread on the community board about ROFR that may give you more of an idea of the time span. Best of luck, hope it all goes through for you!

 

[CarolMN]

Try not to worry too much about booking your February, 2006 dates. You shouldn't have a problem as long as you book prior to the 7 month window opening - and that doesn't open until July. You should be in the system long before then if Disney waives ROFR.

Good luck!

 

[keishashadow]

Thanks to you all, can't wait to be a "member" - I hope.

 

[keishashadow]

Just read the thread with the ROFR numbers - now I am worried, seems to be no rhyme or reason for denials.

 

[Gwydion]

Congratulations!
After looking at the boards tonight, it seems we have a plethora of people making purchases this week. This might go a ways towards explaining why some people are complaining about Disney's slow response time in assigning Member #'s and mailing packets. But it's a good sign that so many people are (like me) just now discovering DVC and realizing what a wonderful plan it is. Continued success of the program can only be good for the value of all of our points.

 

[Tramp68]

As far as ROFR goes, what stops people from selling their DVC resale for full price - $95/point and then having a private deal for a $30/point gift back to the buyer?

This would circumvent Disney's arbitrary ROFR actions...

Maybe I shouldn't be thinking of ways to cheat the system, but it seems silly that ROFR has to become such a nightmare...

Disney should set Monthly Policy like a "prime rate" chart that says what they are willing to buyback at for each location and increment of say 50 points... i.e. a 200 Pt. BWV resale must be over $76 per point and a 200 Pt. OKW resale must be over $73 per point (arbitrary numbers here)

Would make everyone's job a lot easier!!!

 

[JimMIA]

As far as ROFR goes, what stops people from selling their DVC resale for full price - $95/point and then having a private deal for a $30/point gift back to the buyer?

This would circumvent Disney's arbitrary ROFR actions...

It would, but you'd have to check with one of the resale realtors. That might be against Florida law.

...but it seems silly that ROFR has to become such a nightmare...

Until WE get in! Then, it becomes the wonderful device that props up our resale prices!

Disney should set Monthly Policy like a "prime rate" chart that says what they are willing to buyback at for each location and increment of say 50 points... i.e. a 200 Pt. BWV resale must be over $76 per point and a 200 Pt. OKW resale must be over $73 per point (arbitrary numbers here)

Would make everyone's job a lot easier!!!

It would, but I think it would also be an unlawful restraint of trade. Currently, they are letting the free market determine prices and then stepping in when they feel it is to their advantage. In your example, they would be fixing the prices. I don't think they really have much alternative to the present system, imperfect though it is.

 

[Tramp68]

It would, but I think it would also be an unlawful restraint of trade. Currently, they are letting the free market determine prices and then stepping in when they feel it is to their advantage. In your example, they would be fixing the prices. I don't think they really have much alternative to the present system, imperfect though it is.

I don't think that is price fixing any more than the ROFR policy to begin with. It is just an offer in constant standing. Disney would then be REQUIRED to purchase any resales at that price. Better to know in advance what they are willing to pay then to get your hopes up and have them shot down. This would also speed up sales for those that are willing to sell quickly and cheaply. They can just accept Disney's posted offer and sell.

I guess my point is...Why should person A be allowed to buy at BWV at $73/ Point today but person B gets ROFRed tomorrow at $76 per point. Way to arbitrary IMHO

 

[JimMIA]

I don't think that is price fixing any more than the ROFR policy to begin with. It is just an offer in constant standing. Disney would then be REQUIRED to purchase any resales at that price. Better to know in advance what they are willing to pay then to get your hopes up and have them shot down. This would also speed up sales for those that are willing to sell quickly and cheaply. They can just accept Disney's posted offer and sell.

I guess my point is...Why should person A be allowed to buy at BWV at $73/ Point today but person B gets ROFRed tomorrow at $76 per point. Way to arbitrary IMHO

I agree wholeheartedly with both of your points...especially the ROFRing we've seen with some of the BWVs the last couple of months. I just don't know if they could do that.

Also, from Disney's perspective, sometimes they get WAY cheap points with the present system. They ROFR'd OKW at $65 recently, and there are a couple pending which I can't imagine getting through ROFR. Those are just money in the bank for Disney.

But I agree, the system would be a lot better for buyers and sellers if they would do what you suggest.