Need help picking home resort for small contract

[KeithSS]

I like being part of a regular hotel so I'd say CC. We haven't experience RIV as get but ask your wife if she liked it because it was new and shiny or if the theme really appealed.

She loved the theme, the skyliner and the double bathroom in the studio

 

[KeithSS]

BWV! Enough said.

I would love that but mentally I have a hard time paying almost the same $$ per point as CC, either resale or direct, and having less than half the amount of time on the contract.

 

[Sandisw]

My tracking indicated that RIV is mostly selling in the 115 to 130 range, you also have to add close to $10/pt closing costs and another $10/pt selling fee

Im confused. Why would RIV owners have to pay close to $20/fees to sell? I have sold lost of resorts and never paid close to that?

Or, am I not understanding what you are talking about?

 

[bookwormde]

Im confused. Why would RIV owners have to pay close to $20/fees to sell? I have sold lost of resorts and never paid close to that?

Or, am I not understanding what you are talking about?

because it is a small contract the purchase closing costs were close to $10/pt and at 8% fee for $125/pt that would be $10pt

It would be nice of we could go back to the good old days when DVD's purchase fees with small

 

[Sandisw]

because it is a small contract the purchase closing costs were close to $10/pt and at 8% fee for $125/pt that would be $10pt

It would be nice of we could go back to the good old days when DVD's purchase fees with small

I thought you were referring only to RIV, The closing costs for direct won’t change because of resort and neither will the cost to sell, so I guess I see those as standard no matter what resort is chosen.

But I agree, it was night when you added on small and didn’t pay much, if anything from DVD to close it.

 

[sethschroeder]

Mentally I just have a hard time getting past half the contract length vs CC but you are only saving like $40/pp.

You are getting roughly a 35% discount upfront and an easier time booking for the next 20 years. Saving money doesn't do you any good if you can't book the Studio you want without a headache.

here is an example from a different reseller of course the market is still quite narrow so there is a wide range

As outlined you would need to check the tracking that is being done on actual resales. The $110 price point could have actually been taken by the listing company to then flip themselves instead of trying to get the highest offer. There has been a couple of those already.

Also I think you are missing the point even at $100/point that is still less lost value than POLY, around the same at BCV, and $8-$10 more on VGF with selling for $169/point for VGF. I am not saying you will not lose money (you would) its simply that its in the ballpark of other resorts being sold.

 

[DebLovesPooh]

If my choices were RIV or CC direct, then I would definitely choose RIV. Your wife fell in love with it and you won’t have to play Hunger Games for a studio around the holidays. Those two pluses are very important, I think. I would contact them tomorrow to get the ball rolling and lock down the rate before it goes up.

Good luck and enjoy the points!
Deb

 

[Sandisw]

You are getting roughly a 35% discount upfront and an easier time booking for the next 20 years. Saving money doesn't do you any good if you can't book the Studio you want without a headache.



As outlined you would need to check the tracking that is being done on actual resales. The $110 price point could have actually been taken by the listing company to then flip themselves instead of trying to get the highest offer. There has been a couple of those already.

Also I think you are missing the point even at $100/point that is still less lost value than POLY, around the same at BCV, and $8-$10 more on VGF with selling for $169/point for VGF. I am not saying you will not lose money (you would) its simply that its in the ballpark of other resorts being sold.

Just an FYI, The newest $110 for RIV was bought by someone here on the DIS. It was not a broker flip.

 

[sethschroeder]

Just an FYI, The newest $110 for RIV was bought by someone here on the DIS. It was not a broker flip.

Got it so that seller likely lost roughly the same as if they had bought VGF. In terms of contracts losing value between direct and resale.

 

[Sandisw]

Got it so that seller likely lost roughly the same as if they had bought VGF. In terms of contracts losing value between direct and resale.

Just thought you might want to know someone in our community was able to snag it.

I agree though. I still think those are outliers and anyone going direct, is not losing anything substantial selling RIV vs, buying other resorts from DVD.

And, it doesn’t really matter unless you have to sell rather quickly and IMO, you have bigger concerns. When talking a small contract..,it doesn’t amount to that much!

 

[4luv2cdisney]

CCV is not a good choice for trying to get a studio at that time of year.

If you go with Riv (or Poly or VGF), make sure 60-70 points is enough. That only gets you a few nights in a studio.

 

[sethschroeder]

Just thought you might want to know someone in our community was able to snag it.

Oh sorry I did mean thanks for the info. Sorry hard in text sometimes to give off context.

Looking forward to them checking in on the Riviera thread.

 

[KeithSS]

Thanks for all of the responses. We have now been looking at a few resale contracts now too that have popped up on various sites over the last few days. I've seen the tools on some of the sites ,including the sponsor here, as far as going rate for resale points. But they mostly seem to be for bigger contracts than i'm looking at. Do you have any sort of formula that you go off of to tell whether its a good deal or not? For example if a CCV contract is hypothetically going for $140/pp for 150 points, what's a good deal for 75 point? Add $10/pp? 15? Im just having a hard time gauging whats a good deal PP vs what's a ripoff. Obviously there are some blatant ripoffs like BWV for $168/pp but for Poly or VGF or even CCV for that matter the asking prices seem to be all over the place

 

[princesscinderella]

The best place to start would probably be the ROFR thread and all the historical ones over the past year listed in the first post. My best answer is whatever price you feel comfortable paying is the right answer, there’s probably some deals to be had but they probably take more work to find too. I personally wouldn’t pay more than 5-7 dollars more per point for a smaller contract, but if it has extra banked points that I could use before expiration i would feel comfortable going a few dollars higher as long as I wasn’t paying the MF on them at closing.

 

[bookwormde]

Thanks for all of the responses. We have now been looking at a few resale contracts now too that have popped up on various sites over the last few days. I've seen the tools on some of the sites ,including the sponsor here, as far as going rate for resale points. But they mostly seem to be for bigger contracts than i'm looking at. Do you have any sort of formula that you go off of to tell whether its a good deal or not? For example if a CCV contract is hypothetically going for $140/pp for 150 points, what's a good deal for 75 point? Add $10/pp? 15? Im just having a hard time gauging whats a good deal PP vs what's a ripoff. Obviously there are some blatant ripoffs like BWV for $168/pp but for Poly or VGF or even CCV for that matter the asking prices seem to be all over the place

There are not any generally agreed on adjustments. With all the factors such a point status, years remaining, popularity, size of contract, cost of closing and how patient you are and how much research you want to do.

With that said if you are looking for a good deal as compared with an average deal for CCV with neutral points in the 75 to 100 pt range a goal in the $130 pt range is possible.

another way of looking at is that $5 to 15 less than the listed price is the typical range unless it comes on well below the market

 

[4luv2cdisney]

Small contracts are most often a ripoff on the resale market. I also love that most of them are listed as "full price offer only". (I just keep scrolling.)

You might want to get a quote on closing costs direct from DVC, too. I know they are more than they used to be but were still less than resale. $300 more for closing on a 60 point contract is $5 / pt.

When I bought a 60 pointer several years ago, between closing costs, using my Disney Visa for a 2% reward, and saving the maintenance fees compared to a similar resale contract, I believe it closed the gap by more than $15/pt. Just the reward and closing was almost $9/pt. Additionally, I don't think I could actually find a 60 pointer on resale. So I'd have been buying either a 50 (would have been disappointed as it wouldn't have been quite enough) or a 75 point (I'm sure I could have found use for the extra points, but they weren't necessary).

My 60 points got me a blue card, so it was a no-brainer. But, I know that's not the case nowadays.

Still, with restrictions on use at new resorts, direct is likely to be my preferred method for small add-ons going forward (IF I'm ever even buying any more).

 

[KeithSS]

Small contracts are most often a ripoff on the resale market. I also love that most of them are listed as "full price offer only". (I just keep scrolling.)

You might want to get a quote on closing costs direct from DVC, too. I know they are more than they used to be but were still less than resale. $300 more for closing on a 60 point contract is $5 / pt.

Haha ya I love the "Full price offer" ones. I pretty much do the same as far as just keep scrolling. Some people are insane for small resale contracts for sure.
I did talk to Disney directly and the closing costs are roughly the same as resale now, but that's not a huge deal. I do like the getting the 2020 points and not having to pay out of pocket upfront for the 2021 maint fees. Also a consideration is that, because if a couple diff things I have going on currently, I am going to have to finance them for a little while. And the %% rate from disney is like 3-4% lower than resale. So that also takes up a chunk of the price difference per point. I was leaning Riv or CCV but the more I think about it, CCV is probably just going to frustrate me trying to get a studio in Late Nov/Early Dec when we usually go. Maybe I should consider stepping up to VGF or Poly instead. They should hold resale good in case I ever do have to sell. My wife HATES BLT so thats not an option. But then again Riv is like $50 pp cheaper than VGF or Poly. I can't imagine on a small point contract that even with the restrictions it will ever be worth more than $50pp less than those 2. The point chart is similar between all 3 and the Riv has the best studio of them IMO. Decision Decisions lol

 

[EM Lawrence]

I think if you are torn between VGF and RIV direct, and resale value is important to you, the clear winner is VGF. Everybody can speculate, but nobody knows for sure how the market will treat RIV resale 10+ years from now. VGF has a proven track record of holding and increasing in value. Buying VGF on resale may be your best choice if you can find the right contract. It would be my first choice, but my husband absolutely hates it.

 

[gisele2]

They are separate.

In your shoes it might make sense to target BRV on resale honestly if you really like that resort.

That is what I was thinking . Even Riviera resale ...

 

[gisele2]

You are getting roughly a 35% discount upfront and an easier time booking for the next 20 years. Saving money doesn't do you any good if you can't book the Studio you want without a headache.

And BRV is having a major renovation in the next years , so I think you can find a good price for a resort with a lot of charm on the resale market. I miss stalking the resale sites ....I will not buy another contract ....this is my new mentra....