We paid 10% of the total cost of our resale for the deposit, and it was due when our signed contract was due, one week after the offer was accepted. We are now in ROFR, and were told to expect it to take the full 30 days. As we are on week 3, that seems like an accurate assumption.
Once we pass ROFR, and the contract has been submitted to the title company for estoppel by Disneyl, we will owe the remainder of the full price, plus closing costs and maintenance fees for 2016 (as provided in our deal). We will be required to hand over that money when the closing documents are finalized, and have 10 days from the signing of the closing documents to change our minds and get the full amount, including deposit, back - this is the Florida mandated cooling off period.
When all that is done, and the 10 days past, the contracts will go back to Disney to be put into the system. Since we are already owners and got an add-on contract resale with our same use year, our new 160 pt. VWL contract will go under the same member number as our 190 pt. AKL contract, bought direct from Disney in 2005. Had we gotten a different use year, we would have gotten a new member number for the resale contract. They can still be combined under one user account on the website for maintenance and use, but the same use year just seemed easiest to us (one date to remember for 11 month reservations, 7 month reservations, banking, etc.)
We will have home resort privileges at 11 months for both places, but only with the points from each contract, ie., 190 per year from AKL, 160 per year from VWL. Our plan is to bank a year from each contract, so we can home resort a 1BR one year at AKL, and then a 1BR the next year at VWL, using those banked points. This works especially well as we got some points up front on the VWL contract so can start banking there immediately.
And as everyone has belabored the point, our new contract may not have full
DVC member benefits like our direct contract does. It certainly won't be eligible for the Disney Collection, Adventures by Disney, or Cruises that have been excluded from resale since 2011. I stopped following "Free Soda Club at Epcot-Gate" as I already have a full-fledged DVC membership through a direct purchase, and will be unaffected by the limits on that and the 10% discount for merchandise - my contract may or may not have been grandfathered, as it was received by Disney for ROFR but was not yet finalized.
Either way, most of that stuff is available other ways - you can get the discount on merch (more easily and reliably too, in my experience) with a Disney Visa. Annual pass deals from DVC used to be pretty good, but with the new tiered pricing it isn't that big a savings, and we've hardly ever used them, anyway. Immaterial to the question you asked, but it's been important to people lately.
Here's the FAQ from an advertiser for the DISBOARDS lining out the process:
Approximately 60-100 days. This is typically the time frame because after we receive both Buyer’s and Seller’s signed contract, everything goes to Disney Vacation Club for ROFR (Right of First Refusal). Disney has 30 days to review the contract and decide whether to exercise their right or not. Once approved, Disney sends an estoppel to the title company and the title company then can prepare final documents. After the final documents have been executed and returned (along with the monies due from the Buyer), the contract closes and Disney is notified of the transfer of title. After the contract is closed Disney then makes the final transfer of membership, which takes approximately 2 weeks. Once the new membership is set up by Disney, they will mail you a letter in the mail with your Membership number.
