Looking at Resale

[40-Something Kid]

I am a Disney fanatic, staying 4-plus times per year at deluxe resorts, sometimes at DVC resorts. I have been resisting the DVC temptation for many years, preferring not to commit, but I think it's time for DVC--I have overpaid enough for my Disney addiction. I don't think I would buy enough points to cover all trips every year, but would like to use the DVC mode for a fair percentage of our trips.

I have been looking at Resale as a preferred alternative to buying from Disney directly. I do not like Saratoga Springs--sorry, it was too quiet for me--and I am not crazy about the Animal Kingdom Lodge location. I think home resort is important because of the 11/7 months rule. I have seen a few BWV resales on-line that look very attractive. I like BWV, and points cost are lower than new sale. We would not finance.

So, at last, the questions. What are the downsides to buying a Resale? Is there any difference in how our membership operates? Does anyone know the end date for BWV time share ownership? What are the Resale closing costs? Are yearly dues paid up front with closing costs or paid to Disney in the use year month? Has anyone with some good advice done this recently?

If Resale emerges as the wrong option, we are considering waiting for Kingdom Tower. I think that property will be amazing!


Thanks, Forty-Something Kid

 

[Laxmom]

You will be treated no different buying resale than if you purchased directly thru Disney. With resale you don't have to buy as many points as you do with buying direct. No difference in how the membership operates either.

I believe BWV's contract end date is 2042. Closing costs depend on how many points you buy. It usually starts in the $300 -$400 range and goes up from there. We will have to pay our sellers back for this years maintenance fees at closing for our 2008 points. With most timeshares, your maintenance fees are paid in January for the upcoming year. I believe DVC is the same. I am sure that someone will correct me if I am wrong.

We purchased thru GMAC and have had no problems whatsoever. We are supposed to close in a couple of weeks. I have heard good things about most of the resale companies. Make sure whoever you use is familiar with DVC - they do things a little different than most timeshare companies and it really helps to have someone with Disney specific experience.

 

[Buckeye Fan]

So, at last, the questions. What are the downsides to buying a Resale?

It takes longer to close, but in most cases, will be cheaper. When you buy through Disney, your points are available to you almost right away. With resale, it's a 2 - 3 month process. Since you're not considering financing, I won't go into that.

Is there any difference in how our membership operates?

None at all. My SIL/BIL bought directly through Disney. I can honestly say there are no differences in her membership and mine and how we're treated.

Does anyone know the end date for BWV time share ownership?

Yes, it's 2042.

Here are the expiration dates for all DVC resorts:
HHI, VB, BWV, VWL, BCV, OKW (no extension) - 2042
SSR - 2054
AKV, OKW (with extension) - 2057

What are the Resale closing costs?

Depends on point range. We just purchased at VB and closing costs on 150 points were around $450. If you purchase resale, closing costs, MFs and any other fees (GMAC has a $195 admin fee) are all negotiable. All 3 contracts I've purchased had prior year's points, so I always paid MFs and the sellers paid closing costs. Two contracts the seller's paid the GMAC fee, the other one, I paid it. The one I paid it on had banked 05 points, all 06 points and all 07 points coming.

Are yearly dues paid up front with closing costs or paid to Disney in the use year month? Has anyone with some good advice done this recently?

Yes, closing costs are paid up front. The following year, you have the option to pay a lump sum, which can be placed on a charge card, or put on monthly direct withdrawal. Regardless of your UY, MFs are always due mid-January, with a grace period through early February. If you pay beyond the grace period, fees are assessed.

If Resale emerges as the wrong option, we are considering waiting for Kingdom Tower. I think that property will be amazing!

I totally agree. I can't wait to stay at KTV. As for resale, I don't think resale will be the wrong option, just a dfferent decision depending on what is important to you. If you buy KTV, you'll pay more per point, but the contract will likely go to 2060. With BWV, you're looking at 2042, but cheaper per point.

Best of luck deciding!!! I think picking a home resort is fun. I just want to own a little from all of them. I know, I know...I'll keep dreaming!

 

[40-Something Kid]

Thanks for the great information. We are putting a deposit down on BWV tomorrow!! I'm still thinking about adding on Kingdom Towers next year. I have a 15-year history of Disney addiction, so will have no problem spending points on our multiple trips, which usually include extended family. I must say, I resisted DVC for a long time, but am finally convinced it's right for us. I am very excited!!!!!!!!!!

 

[Buckeye Fan]

I am soooo excited for you!!! Here's an early HOME!!!

If you haven't yet, visit the last page of the ROFR thread. It will tell you what is passing ROFR for all of the resorts. That will help you figure out what to offer on your BWV contract to help ensure you pass.

I'm sure as many times as you've been to Dis you've been to BW, but I love BWVs. Even though SSR is our home resort, our first trip as DVC members was to BWVs. It will always hold a special place in my heart for that reason alone.

 

[jekjones1558]

Good luck with your contract. If you like being in the middle of the action, BWV is a great choice (and you will LOVE the BW view option). Congratulations on your decision!