Last Topic Contracts and offers. Help Please.

[DISNEY FIX]

OK I am just about ready to get the conformation money out of the mattress....
Last topic Contracts/Offers.
I am no lawyer, nor a fool who wants to be separated from his money. What do I need to look for when buying my fist contract of 200 pts. of VWL? What are the ins and outs. I want to be educated before I call the TTS or ***********.
Please inform me.
Thank You
Chris

 

[RobDoc]

You should be aware of ROFR, since too low an offer might result in DVC purchasing the contract themselves. DVC is selling VWL at $98 per point now and that would include all points for the current Use Year and prorated dues based on when you purchase.

You might want to check the ROFR thread to get an idea which offers have passed (and which haven't).

You should also pay attention to the status of the points in any resale contract you are interested in - especially regarding banked, current and especially borrowed points. Be aware that if points from the next Use Year have been borrowed by the seller, you would still be responsible for maintenance fees on those points and that could be negotiated in advance. You should also get a feel for closing costs and current year maintenance fees.

By all means, feel free to ask questions right here.

Enjoy the process!

 

[DISNEY FIX]

You should be aware of ROFR, since too low an offer might result in DVC purchasing the contract themselves. DVC is selling VWL at $98 per point now and that would include all points for the current Use Year and prorated dues based on when you purchase.

You might want to check the ROFR thread to get an idea which offers have passed (and which haven't).

You should also pay attention to the status of the points in any resale contract you are interested in - especially regarding banked, current and especially borrowed points. Be aware that if points from the next Use Year have been borrowed by the seller, you would still be responsible for maintenance fees on those points and that could be negotiated in advance. You should also get a feel for closing costs and current year maintenance fees.

By all means, feel free to ask questions right here.

Enjoy the process!

"Enjoy the process!" I might have no hair left before i make my first ressie.
Do you mean I could buy 200 pts. through Disney? Do they issue UY that day?
Are Maintenance fees flexible or fixed at time of purchase. Can anyone clue me in on the closing cost appro. and maint. fees stuffs.
How do you guys feel about resellers any recommended from personal experience?
Thanks

 

[RobDoc]

Yes, all DVC resorts are available thru Disney directly- although some (usually BCV and VWL) may not be available immediately when you call and you may need to use a waitlist. (These resorts are somewhat dependant on ROFR for availability).

Closing costs for new purchasers thru DVC are around $200 - and usually higher for resale - depending on the number of points purchased. (Many have reported closing costs in the $450-500 range.)

Maintenance fees are fixed by Disney and are based on a specific amount per point - and each resort varies. They are based on the calendar year and have nothing to do with your Use Year.

Here is the history of DVC annual maintenance fees at all of the resorts:

Year OKW BWV VB VB(sub) HH VWL BCV SSR AKV

2007 4.40 4.85 5.63 4.39 4.98 4.73 4.63 4.12 4.62
2006 4.24 4.69 5.27 4.12 4.34 4.61 4.48 3.98
2005 3.86 4.41 4.87 3.84 3.86 4.35 4.27 3.83
2004 3.68 4.25 4.67 3.67 3.70 4.22 4.18 3.80
2003 3.49 4.11 4.37 4.37 3.69 4.05 3.97
2002 3.22 3.92 4.17 3.33 3.49 3.80 3.77
2001 3.13 3.83 3.98 2.70 3.32 3.63
2000 3.16 3.94 4.07 2.87 3.25 3.62
1999 3.16 4.02 3.99 2.82 3.18
1998 3.17 3.94 ---- 2.76 3.20
1997 3.14 3.84 ---- 2.90 3.16
1996 2.99 3.70 ---- 2.82 3.16
1995 2.84
1994 2.70
1993 2.63
1992 2.56
1991 2.51

We have made 3 purchases thru The Timeshare Store and cannot say enough positive about the service they provide. Tom and the staff there are very knowledgeable and supportive.

 

[Princess Roo]

We are in the process of purchasing through TSS. We were told that standard operating procedure is that you only pay MTC fees on the "unaltered" points remaining. I don't know if that's the right word, but points that haven't been used, transferred, banked, or borrowed. Our contract was somewhat "stripped", but we are getting reimbursed for the points that have been used. We are also getting some points that were borrowed (and cannot be banked) that the seller will pay fees on as well. This is part of your "offer" and will all show up in the contract, so read it carefully.

If you're looking at a contract larger than 160, you just need to look at the benefits of purchasing through Disney directly (such as a full set of 2007 UY points) versus through resale (which could have more or less points than that, depending on the contract).

 

[lisaviolet]

OK I am just about ready to get the conformation money out of the mattress....
Last topic Contracts/Offers.
I am no lawyer, nor a fool who wants to be separated from his money. What do I need to look for when buying my fist contract of 200 pts. of VWL? What are the ins and outs. I want to be educated before I call the TTS or ***********.
Please inform me.
Thank You
Chris

If you do buy from Disney. I would buy one 150 point contract for the minimum and one 50 point contract. It gives you more options if you wants/needs change in the future.

Also, be aware that some guides will insist that only SSR is available. If you have one of those guides just let them know that you know they sell out "sold out" resorts and only want VWL. Be firm about your knowledge and your wants. Some guides say "okay" right from the get go and some don't.

If you don't have a guide. Mine is great. I'll PM you his information just in case you want it.

All the best and an early "welcome home",

Lisa

 

[texdisneygal]

Closing costs for new purchasers thru DVC are around $200 - and usually higher for resale - depending on the number of points purchased. (Many have reported closing costs in the $450-500 range.)

The closing costs through DVC are the higher amount for financed purchases (as opposed to cash purchases).

 

[schwenksvillemouse]

Year OKW BWV VB VB(sub) HH VWL BCV SSR AKV

2007 4.40 4.85 5.63 4.39 4.98 4.73 4.63 4.12 4.62
2006 4.24 4.69 5.27 4.12 4.34 4.61 4.48 3.98
2005 3.86 4.41 4.87 3.84 3.86 4.35 4.27 3.83
2004 3.68 4.25 4.67 3.67 3.70 4.22 4.18 3.80
2003 3.49 4.11 4.37 4.37 3.69 4.05 3.97
2002 3.22 3.92 4.17 3.33 3.49 3.80 3.77
2001 3.13 3.83 3.98 2.70 3.32 3.63
2000 3.16 3.94 4.07 2.87 3.25 3.62
1999 3.16 4.02 3.99 2.82 3.18
1998 3.17 3.94 ---- 2.76 3.20
1997 3.14 3.84 ---- 2.90 3.16
1996 2.99 3.70 ---- 2.82 3.16
1995 2.84
1994 2.70
1993 2.63
1992 2.56
1991 2.51


Why two lines for Vero Beach? What's the "(sub)" mean?

 

[bwvBound]

Why two lines for Vero Beach? What's the "(sub)" mean?

The two Vero Beach columns represent different dues rates. The earliest Vero Contracts pay a lower, subsidized, rate than newer contracts at the same resort.

Reason, best I understand it: The final Vero build-out was scaled back (reduced) from the original project plans. Thus, there are fewer owners to support the shared costs of staffing, pool operation, etc.

When the project changed, the cost distribution was recalculated resulting in higher costs for new owners ... with minimal impact to folks who purchased under the original plans.

Hope that makes sense.

 

[schwenksvillemouse]

I've owned there since 2000 and never knew that. Interesting.

 

[JimMIA]

Do you mean I could buy 200 pts. through Disney? Do they issue UY that day?

Yes, you can buy direct from Disney -- provided Disney has points available at the resort of your dreams. Some of the guides will resist and try to convince you that's not possible, but they're not telling you the truth.

As far as UY, that is assigned at the time of the original sale, and it can't be changed. If you buy from Disney, you will be buying points that Disney got back through ROFR, so they will already have a UY assigned. If you are flexible regarding UY, you can often get points pretty quickly.

This thread discusses the waitlists for buying points directly from Disney for sold-out resorts. Go to the last page for the latest info. http://www.disboards.com/showthread.php?t=735842

Are Maintenance fees flexible or fixed at time of purchase.

The fees vary from resort to resort, and they change each year. You get a bill in December for the following calendar year's dues. Most of the time they go up slightly, but if you look closely at the chart provided above, you'll see that they have gone down on occasion.

How do you guys feel about resellers any recommended from personal experience?

I originally bought through the Timeshare Store, and then bought an add-on at SSR direct. My impression of TTS was they were at least as ethical as Disney, and somewhat more knowledgeable and competent than my Disney guide.

*****
Also, in addition to Doc's comments above, in resale I think you have to be aware of the time involved. I'd plan on 8-12 weeks from initial offer, through ROFR, paperwork processed and closed, and then fully "in the system" and able to use your membership. It's sometimes quicker than 8 weeks, but I'd be prepared for a significant amount of time. On the bright side, you'll probably save +/-$2,000 over buying direct.

Buying direct, you are done and able to use the account in just a couple of days -- provided they have the points available.

 

[DISNEY FIX]

Thank you.
And to all the posters who give out the gems of info so we can make educated choices. Can't say it enough.