Need some encouragement this morning

[discorsner]

How many contracts did you lose out on before finding the right deal?

After researching Dvc heavily since June we finally are ready to make the jump. We feel like we know the program fairly well and it's a good fit for us. We also spent this time getting our money together.

We made our first offer on Thursday. They countered on Friday with something that wasn't even close to what we wanted to pay. So we said no of course.

I have been reading what others have been paying for similar contracts and we thought our offer was low but reasonable given the buyers market. I realize not all sellers are as motivated to sell as others and each has own circumstances though.


We are looking for other contracts that are similar but there isn't exactly what we want. Not sure if we should bend our requirements, like go with a second choice use year or pay a little more than we hoped (if we can fond one that is even close). We did a lot of research and waited so we could do this "right". I don't want to mess it up now.

At the same time though there is a reservation I really want to make for thanksgiving 2012. At this point we will not be in system for 11 month window but hoping to be in shortly after and still snag my hard to get ressie.

I guess what I'm really asking is how long did everyone hold out?

 

[bwvBound]

I suppose we were weak. We "held out" only 4.5 months before giving up on resale (multiple failed deals) and buying direct. FWIW, there was a significantly smaller gap between direct and resale at that time and we "justified" the purchase a thousand times over. Looking back, we've been thoroughly "ok" with our decision.

Best wishes on your hunt! May you be supplied with all the patience and wisdom needed.

 

[chalee94]

if you're bottom fishing - looking at the lowest prices paid over the last couple of months and offering based on that - then you need to prepare to wait.

if you're a motivated buyer, then it's not really a "buyer's market" in your case. if you are looking for a desperate seller - with specific resort and UY requirements - be prepared to wait for 4-6 months IMO.

 

[Pennyguy23]

if you're bottom fishing - looking at the lowest prices paid over the last couple of months and offering based on that - then you need to prepare to wait.

if you're a motivated buyer, then it's not really a "buyer's market" in your case. if you are looking for a desperate seller - with specific resort and UY requirements - be prepared to wait for 4-6 months IMO.

Agreed.

 

[cvjw]

I have been reading what others have been paying for similar contracts and we thought our offer was low but reasonable given the buyers market.

I think you may have to wait a while.

Sounds like you are trying to get exactly the contract that you want at the lowest price possible. Yes, some contracts do sell for significantly less than the majority of contracts. I think some people are desperate financially and need to sell so bad, they don't care about the sales price. The buyers of those contracts do get very lucky.

Only you can decide whether you wait it out for a desperate seller, or pay more and get the contract you want sooner, so that you can get the reservation you want for next year. We didn't sweat a few bucks on the sales price of the contract - that money was the least of our financial commitment to DVC - the maintenance fees are the killers for us.

 

[etemplet]

We went from knowing nothing about DVC to clearing ROFR on a resale contract that suited us perfectly in One month. It took allot of research up front and we couldn't have been so successful with the members and help we had from this forum.

I elected to go with Fidelity because I read they were receptive regarding offers. I was not disappointed. I feel we got a great price and I'm doin piggy wiggy...all the way home. LOL

Good luck with yours.

 

[bobbiwoz]

I hope you find what you want. We're looking for an add on and so far haven't found a seller who is willing to take prices that the ROFR thread has as having passed ROFR, so we're waiting, but we are in the system and have quite a few points in 2013 that we can borrow into next year.

Remember that the price of the contract is not the biggest expense, MFs over the time you own are. Look hard at the price you're willing to pay, maybe it has to be adjust upward just a bit or be firm, and hope a seller comes through for you.

Also, our UY March, has become less attractive to us, but since we travel all over the calendar, there really isn't one that would be perfect. Maybe you are placing too much emphasis on UY. I don't know the answer to that one.

Bobbi

 

[jekjones1558]

I also suggest looking at multiple resale sites so that you maximize your choices. We have purchased from multiple resale agents based on who had the contract we wanted and we had good service from all of them. Fidelity always seems to have more contracts than other resale agents. We used Rachel when we bought from Fidelity and had a great experience. Others have reported wonderful service from Sharon.
JMHO, but unless you are buying a really big contract a few dollars/point is not worth worrying about in negotiation. When you consider the years that you can enjoy your points, a few hundred dollars difference in initial cost is pretty insignificant.
Good luck! Hope you find something soon so you can secure your reservation for the very popular Thanksgiving season.

 

[disneynutz]

What's the rush, Disney isn't going anywhere.

We took 2 years to learn about timeshares and the DVC. Then we bought a small BCV contract to use for stays at all of the resorts that we had a interest in before buying more points.

We learned what each resort had to offer by staying there. We found that many resorts aren't what was expected even after doing all of our research. Our plan was to buy where we loved to stay knowing that booking at 7 months is going to continue to only get harder.

We don't like to settle on just anywhere, we want to book where we want, when we want and get the best bang for our buck.

We stay at WDW 1 to 3 times a year depending on our schedules and we now own 26 contracts at 5 resorts.

Bill

 

[discorsner]

Thanks for the feedback everyone. It put it in perspective to me a little about how a few higher price per point won't kill us and we just need to think about what we are willing to accept.

I think I am guilty in getting caught up in reading the prices that have passed ROFR and thinking that I need to get a deal that is just as good! It's like if other people have gotten this resort cheaper I should too or I'm not doing something right. However it doesn't mean there are sellers who are motivated the moment I start looking! I need to be more realistic.

I need to look at it as no matter what price I buy resale I am going to be better off than if I had made an emotional purchase while on Disney property the last time I was there. If nothing else I'm better off for understanding it a lot more now and knowing what I'm getting into.

I think I need to chill out a bit on my quest for the perfect deal. I can always get in and then go on a quest for the perfect deal for an add-on. Lol.

I think we are going to look for a smaller contract now and not stress as much over the perfect price (although I'm not giving away the farm either!)

 

[kcount]

I'm new to all of this, but why place so much emphasis on the UY? Why exactly does the UY matter so much?

 

[castleri]

You also need to consider if the contracts you have seen with low prices were loaded with points or stripped. There were many listed for a while that had no points available until the following year or beyond as they had been used and borrowed.

 

[Miffy]

I'm not a DVC owner or someone looking to buy. I found this thread when looking at New Posts here on the DIS.

OP, it struck me that if you're thinking about Thanksgiving 2012 and that's causing you concern or even stress about buying in time for that 11-month-out window, there's another way to think about this: If you get the contract you want by waiting a little longer (or as long as necessary for your desires), then the money you eventually save may be far more than the cost of a T'giving 2012 vacation (either with purchased points on somewhere else on-site). Make sense?

Good luck to you. Enjoy the process!

 

[wdwnomad]

It look me about 6 months to get the contract I wanted at the price I wanted. I actually had two agreements in place but they both fell apart for one reason or another. The third one finally came through.

One thing I learned during the search process was that to get these low price contracts you have to move quick. Fidelity updates their website, normally, Friday afternoon. Watch their website. Figure out their numbering system so you know what ones are the new lisitings. When you see a contract that fits your criteria call right away.

 

[maryliz]

We are in the ROFR process right now, and our decision to try and purchase a very small BCV contract was more of a "hey DH, why dont we buy this little DVC?" I asked more as a joke, but DH was quite OK with trying! We've talked about it before, have rented points several times, but weighing everything out, we decided to not do it ... until now. He is now having fears of me getting "add-on-itis" in future.

When I spoke to someone at TTS, I asked about counter-offering ... DH and I decided that since 50 point contracts are usually snapped up pretty quick, we offered the asking price as long as they could bank the points currently available. In hindsight, we probably could have gone a little lower, but in the end, we're OK with paying asking price and will be if it passes ROFR.

If it doesn't go thru, I won't be crushed ... I know there will be other contracts that will come along. But if it DOES pass, I will be hoping to get a week at BCV next Aug.

As a pp stated, Disney isn't going anywhere!

I am however already feeling the torture of waiting, and it's only been a week.

 

[bobbiwoz]

We are in the ROFR process right now, and our decision to try and purchase a very small BCV contract was more of a "hey DH, why dont we buy this little DVC?" I asked more as a joke, but DH was quite OK with trying! We've talked about it before, have rented points several times, but weighing everything out, we decided to not do it ... until now. He is now having fears of me getting "add-on-itis" in future.

When I spoke to someone at TTS, I asked about counter-offering ... DH and I decided that since 50 point contracts are usually snapped up pretty quick, we offered the asking price as long as they could bank the points currently available. In hindsight, we probably could have gone a little lower, but in the end, we're OK with paying asking price and will be if it passes ROFR.

If it doesn't go thru, I won't be crushed ... I know there will be other contracts that will come along. But if it DOES pass, I will be hoping to get a week at BCV next Aug.

As a pp stated, Disney isn't going anywhere!

I am however already feeling the torture of waiting, and it's only been a week.

I do not think the people you are buying from would go any lower. They had another contract and stood firm. I think (and hope that) you'll be fine passing ROFR.

 

[n2mm]

It took me 6 months to find the right offer. Since I'm an existing member, I had to stay with my April U/Y to keep my recording keeping manageable. I won the second offer I bidded on. The first one I lost because I was too slow. I watched several sites, but went with Fidelity/Sharon. I had never done resale, but was pleasantly surprised how easy Sharon made it. I would do it or recommend it again. Lucky for me I just saw a contract that had my U/Y and the points I wanted for the price I wanted to pay ($55). Other than my U/Y criteria, my other criteria was all of the current years' points (banked would've been icing on the cake--but none on this contract). No holding, or borrowing was important to me -- life is too short to buy a stripped contract IMHO at my age. As mentioned I felt like goldielocks and always thinking, this is too small, this is too large, this is just right--but wrong U/Y. I did realize that Fidelity updates their listings on Fridays! and they are closed on the weekends, so as soon as I saw the one for me, I called that Friday and left a message, plus I sent an email and on Monday morning I called as soon as they openned. It paid off for me.

Personally as far as the T-d reservation, I would book a room and take that stress out of the equation. When the purchase happens, then try to make a room reservation, even if it's not at your home, and if it works great. You'll have plenty of time to book your home reservation vacations later. Good luck.

 

[DizGirl20]

Earlier this year, I made a reasonable offer on an AKV contract. In fact, I made the same offer as what our 1st AKV resale contract went for. The seller had it listed quite high and wasn't willing to budge, so we passed and kept looking for something else. I watched that AKV contract sit there for months and months. Not sure it ever sold.

A few weeks later we found a great contract at VWL, for a steal! Ideally we would have liked another AKV contract but the price was too good to pass up and I don't mind owning at 2 resorts.

Don't give up if you don't succeed the first time. There are so many contracts out there I can't imagine something good will eventually come your way. Be open to different Use Years or perhaps a different amount of points. You can always add on later. Good Luck!

 

[chalee94]

I'm new to all of this, but why place so much emphasis on the UY? Why exactly does the UY matter so much?

UY is not a huge issue, but here is a thread which is focused on UY and has more detailed answers:

http://www.disboards.com/showthread.php?t=2827025

 

[mouseaider]

We were in the same situation in June, 2010 and watched TSS for the right contract for us.

We wanted a small BWV and we were lucky to find a 100 point contract with a December use year and it had 100 banked points. The asking price was $78 per point and we jumped on it. We could have offered $70 per point but why lose a contract that was perfect for us by trying to save $800 dollars?

We then found a smaller 55 point SSR contract, with 55 banked points for $60 per point and also paid the asking price and got it. Now we can stay every year at BWV and every other year at SSR if we like.

By paying the asking price we have stayed at BWV twice already, saying at AKL in two months and we also have Aulani reservations for seven nights this April. I am glad we paid the asking price for both of the contracts.

Good luck with your decisions as you try to find a contract or two that fits your families needs. I hope you will be as happy as we are.