My DVC Purchase Timeline

[OKWNutt]

After several years of lurking these boards and thinking about it – I finally purchased a DVC membership on the resale market.
I bought 190 points at OKW with 110 banked points at $70 a point. (OKW resale was going for about $76 a point when I was first looking into buying a few years ago)
Friday, October 16, 2009 Submitted online loan application to Timesharelending
Saturday, October 17, 2009 Loan Application Approved
Saturday, October 17, 2009 Contacted Time Share Store (TSS) and selected OKW listing - paid listed price.
Thursday, October 22, 2009 Signed Sales Contract emailed to TSS. Hard copy and deposit check mailed
Thursday, October 22, 2009 Contract forward to Disney for ROFR
Tuesday, November 17, 2009 ROFR waived.
Friday, November 20, 2009 Received closing documents
Friday, November 20, 2009 Closing document signed and express mailed with cashier's check for my closing expenses.
Monday, November 30, 2009 Magic Vacation Title called and said the cashier's check was not in the envelope!! Had check reissued and sent priority mail
Friday, December 04, 2009 Check received by ***
Tuesday, December 08, 2009 CLOSED
Saturday, December 12, 2009 In Disney System - Made First Reservation
I cannot say enough positive things about everyone I dealt with from Timesharelending, the TSS and Magic Vacation Title. Other than the Disney ROFR and the hiccup with the missing check, I cannot imagine this transaction going any smoother or quicker.
Since I really wanted OKW as my Home Resort - I couldn't be happier and resale was certainly the way to go for me.

 

[helenk]

Sounds like everything really went great! Welcome Home

 

[Crystal_27]

Thank you for putting together your timeline - - I'm sure that those considering resale will find it very very helpful! And, congratulations on your OKW purchase and welcome home!!!

 

[OKWNutt]

Thanks.
The bottom line is that making a resale purchase is not that difficult of a process.
It does take about 6 weeks but the savings - IMHO - is well worth it
The last I talked to my DVC sales guide they were not even offering OKW. And if they did it would go for $101 a point ($31 more per point - or for me, an additional cost of $5,700).
I guess for some the ease of financing from Disney makes it worth spending the extra money. But I thought timesharelending was very easy to work with, one day turnaround on the on-line application. Even though they charge a slightly higher interest rate than Disney's best preferred rates - I am still saving major bucks.

 

[DenLo]

Welcome Home! Were you able to get an extended contract, one that ends in 2057? Seventy dollars is a much better rate than the $76 you almost purchased awhile ago. Congratulations.

 

[OKWNutt]

I did not get points with an extended contract. I will be in my mid-80's when the original expiration dates hits - so I'm good with that.
What I was referring to is that when I first started to look at buying OKW points 5 to 6 years ago they were going for $75 - $76 per point (orginal expiration date). I think it just shows what the economy has done to the resale market over the best few years.
It's a good time to buy!

 

[5forDiz]

Welcome Home OKW neighbor !!!

And although we plan to add on points most likely at another resort(s) to take advantage of 11 mos booking at other DVCs OKW holds a very special place in our hearts and in our opinion is still DVCs best kept secret Nice price you've bought in at and we may end up being tempted to just add additional points at OKW !

Best wishes & enjoy your DVC adventures in the years to come

 

[scot@dvcstore]

OKWNUTT,
Thanks for sharing your experience with the boards. We greatly appreciate your business! Welcome home and enjoy the holidays with your family.

 

[bobbiwoz]

Welcome Home! I'm glad the transaction went so smoothly. Can't wait to read your first trip report!

Bobbi

 

[KYCruiseCrazy]

After several years of lurking these boards and thinking about it – I finally purchased a DVC membership on the resale market.
I bought 190 points at OKW with 110 banked points at $70 a point. (OKW resale was going for about $76 a point when I was first looking into buying a few years ago)
Friday, October 16, 2009 Submitted online loan application to Timesharelending
Saturday, October 17, 2009 Loan Application Approved
Saturday, October 17, 2009 Contacted Time Share Store (TSS) and selected OKW listing - paid listed price.
Thursday, October 22, 2009 Signed Sales Contract emailed to TSS. Hard copy and deposit check mailed
Thursday, October 22, 2009 Contract forward to Disney for ROFR
Tuesday, November 17, 2009 ROFR waived.
Friday, November 20, 2009 Received closing documents
Friday, November 20, 2009 Closing document signed and express mailed with cashier's check for my closing expenses.
Monday, November 30, 2009 Magic Vacation Title called and said the cashier's check was not in the envelope!! Had check reissued and sent priority mail
Friday, December 04, 2009 Check received by ***
Tuesday, December 08, 2009 CLOSED
Saturday, December 12, 2009 In Disney System - Made First Reservation
I cannot say enough positive things about everyone I dealt with from Timesharelending, the TSS and Magic Vacation Title. Other than the Disney ROFR and the hiccup with the missing check, I cannot imagine this transaction going any smoother or quicker.
Since I really wanted OKW as my Home Resort - I couldn't be happier and resale was certainly the way to go for me.

how many years do you get for OKW resale?

 

[OKWNutt]

My OKW points will expire in 2042. That's 33 years.
I really appreciate all the kind words of welcome.
Got my first reservation for HHI in May.
I'll be sure to post a report.