need experienced DVCers to sanity check my logic

[blueroses]

A little introduction: I'm not a DVC owner and never thought I would be. My husband tolerates my WDW habit but definitely thinks it's strange. So while I have done a little research and lurked on these boards a bit, I never brought up the idea of actually buying into DVC.

My in-laws just came back from a trip to WDW and they told my husband were disappointed that they hadn't been able to schedule a DVC tour (at Boardwalk probably, they were staying at the Dolphin). My husband told me this, and I told him everything I know about DVC. And, guess what, he thought buying sounded like an OK idea!

So now, I may actually be buying in this year. That's where the questions start. My prefered location is at BW/BC. Am I correct that both of these are currently sold out? If that is the case, I was thinking of buying resale points at Vero Beach since they are running $68/pt. I know that maintenance fees there run higher than other DVCs. I don't think I'll ever be making any reservations 11 months out, and since there's 2 of us (and it will stay that way), I don't see us needing more than a 1 BR at any point. So does buying resale at VB make sense? Is there a better solution?

My next trip will be in May. Should I schedule a tour even if I think I'll probably buy on the resale market?

Thanks in advance for your help. You guys are great at answering all the DVC newbie questions.

 

[jgus]

Go for it! We did this week after thinking for years about it!

 

[rogerram]

you can buy VB if the 11 month window is not needed, but the initial savings for the point cost for the total purchase,will end up costing more over the life of the contract when you factor in the higher fees incured yearly at VB. you also might want to consider buying at BWV or BCV, which although sold out, can still be bought directly from DVC.
goodluck

 

[blueroses]

If I can still buy BWV or BCV directly from DVC, what does "sold out" mean?

 

[LisaS]

If I can still buy BWV or BCV directly from DVC, what does "sold out" mean?

It means they are reselling contracts that they bought back either through their ROFR or due to default. Not that that really means anything -- you will be a full-fledged DVC member whether you purchase a resale (from Disney or otherwise) or you purchase points at a resort that is still under construction (SSR, AKV).

It does means that any incentives in effect at the resorts that they are actively selling (SSR, AKV) will not apply. The current price at BWV and BCV is $95/pt but there are rumors that the price of BCV at least may be going up on Monday March 5th (to $98/$99??).

 

[Chuck S]

If I can still buy BWV or BCV directly from DVC, what does "sold out" mean?

Sold out means that the resort was fully sold out at one time, and the availability of points through Disney vs. resale can not be guaranteed.

Disney may have enough points on hand to sell you a new contract for BCV or BWV. Disney get points at previously sold out resorts in a couple ways.

1) Repo for loan defaults (though somewhat unlikely this far after being "sold out")

2) ROFR - Right of First Refusal. When a buyer makes an offer on a resale contract, it must first be submitted to Disney. If Disney deems the offered price too low, Disney will step in and become the buyer for the same price as the buyer that made the offer, basically buying the contract out from under the potential resale buyer. The seller gets the same thing either way.

 

[rogerram]

I sent you a PM explaining everything. sold out is accurate, but when DVC buys back with rofr, they get points to sell to members or potential new members.

 

[tiggercrew]

If I can still buy BWV or BCV directly from DVC, what does "sold out" mean?

"Sold out" simply means that this resort is not the current resort being sold by Disney because all possible ownership interests were purchased. The reason you are still able to buy the "sold out" resorts from Disney is that once an owner buys an interest, if the owner decides to ever sell their interest Disney has the right of first refusal (ROFR)...simply stated Disney can buy back your interest for whatever price you were offered via resale.

 

[DisneyMomOK]

I just purchased two 50 point add-ons at BWV yesterday (actually thought I was on the waitlist, but found out today they were available). According to the guide, Jerry, BWV and BCV will be $98 and $101 (not sure which is which) on Monday. He told me I bought just under the wire.

Sharon

 

[vandy]

I would suggest buying at one of the WDW resorts. The MFs at VB will eventually erase any intial price per point savings you may have. If DVC doesn't have what you want, check the resales.

 

[jekjones1558]

Another reason to buy at one of the WDW DVCs is to allow yourself the chance to book somewhere between 11 and 7 months if you decide to go at a busy time. This may not be a huge deal, since 1 bedrooms are the easiest size room to get, but the combination of lower yearly fees and a booking advantage should not be disregarded. You can get some pretty good deals on OKW and SSR resales and some folks think that there may be another incentive program for SSR (with the extra 12 years on the contract) when Disney tries to sell out the last units at SSR. Good luck!

 

[blueroses]

Thanks, everyone! This is great information. I hope I'll be joining the ranks of owners this year.

 

[HockeyKat]

BR, another thought for VB is the possibility of hurricane damage, resulting in either higher MF or even possibly closing the resort alltogether.

We just bought BWV, as a resale. It takes 4-6 weeks to pass ROFR and close, then probably another 5-10 days to get into WDW's system, but once you are there it is no diff in terms of member services than buying direct. Our resale was at $85/pt and came w/ all '06 and '07 pts.

Closing costs through resale are a bit more (~$200) than WDW, but the price/pt is up to $10/pt less, so it generally works out $1500-2000 cheaper to buy resale. Buying direct you can put the down payment on a cc, resale it must be a check or a cc check (cash advance).

 

[calypso*a*go-go]

Thanks, everyone! This is great information. I hope I'll be joining the ranks of owners this year.

Hi blueroses!

Just wanted to let you know that I am also a WA resident and can tell you from experience that the only thing you can buy directly from DVC right now is SSR (it's the only property they are registered to sell in our state). The exception to this would be to purchase a contract while visiting WDW (possibly DLR...but don't know for sure).

Some members have also worked around this by having the paperwork sent in care of friends/relatives that live in a registered state, who could then forward the packet on to you in Seattle for signatures. I bought both my contracts resale, so it wasn't an issue for me. However, I am considering an add-on at AKV and might have to temporarily relocate to Oregon.

 

[blueroses]

Hi blueroses!

Just wanted to let you know that I am also a WA resident and can tell you from experience that the only thing you can buy directly from DVC right now is SSR (it's the only property they are registered to sell in our state). The exception to this would be to purchase a contract while visiting WDW (possibly DLR...but don't know for sure).

Some members have also worked around this by having the paperwork sent in care of friends/relatives that live in a registered state, who could then forward the packet on to you in Seattle for signatures. I bought both my contracts resale, so it wasn't an issue for me. However, I am considering an add-on at AKV and might have to temporarily relocate to Oregon.

Wow. I didn't know that. I was thinking of touring BW/BC while I'm down for a short trip in May. Does that mean we would have to sign the papers on the spot (provided we don't have to get on a waitlist to purchase at either property)?

Does anyone know if Oklahoma is a registered state? That's where my inlaws live and they were pretty interested in DVC. I thought it might be nice if we both purchased.

PS - so that's what you mean by Liquid Sunshine State! I had seen your tag before and never put it together. You'd think after over 10 years in WA I'd be quicker on the uptake!

 

[calypso*a*go-go]

PS - so that's what you mean by Liquid Sunshine State! I had seen your tag before and never put it together. You'd think after over 10 years in WA I'd be quicker on the uptake!

Yep...that's what I mean! However, today is absolutely beautiful (which is a very good thing as it reminds me why I put up with all that liquid sunshine!).

Don't know about Oklahoma but I'm sure someone has the answer for you. If you are flexible about what use year you want, it could be that BCV/BWV might be immediately available for purchase during your visit. You would have to sign on the dotted line while you're there, but I believe you have some time to back out of the deal (is it 5 days?) if you change your mind. Because of resale pricing on both those properties, it's really just a few dollars more to buy them direct from Disney and you wouldn't have the anxiety for ROFR.

 

[dvcnut39]

I say if you prefer BWV/BCV, then I would buy there. If you add up the extra costs of VB fees/month, you'd probably come very close to the same costs that the extra $/pt would be at BWV/BCV. Just my two cents.

 

[HockeyKat]

If you decide on BCV, you might as well buy direct assuming there is no waitlist.

BWV, the diff is a lot larger, esp if the direct price has gone up to $98/pt. You can get BWV resales for as low as $83, with $84-85/pt passing ROFR with no issues (my $85 just passed).

 

[ccigliano]

You should absolutely buy where you like even though you'd be going for the 1 bedroom. The BWV & BCV are not big resorts like OKW and SSR. The rooms are very limited and if you want to go at a popular time forget about booking at the 7 month window. OKW and SSR have the most rooms therefore the most availability so if you don't mind staying there, those are your best bets for the 7 month window. I love the Wilderness Lodge Villas and when I couldn't stay in December 2005, I came home sold my OKW points and bought at the WLV so that I'd be sure to stay there between Thanksgiving and Christmas which now seems to be the most popular time at WLV. I bought both times from the Timeshare Store and it was very easy. Get a feel for the going rate, then check DVC to see if they have a similar offer. Good Luck!!