Newbie questions - first offer

[jyssilly]

Super nervous! I need to convince hubby (after 20+ years) that this is STILL the right choice. I am probably going to need more DVC math to help with that.
Anyway, some hopefully small questions:
1) What title companies are good and why is it important to pick?
2) Looking at the ROFR thread and seeing $per point that passed - is it more likely to pass if it has a higher $per point than the "average" or is there something else that Disney considers?
3) How do you weigh contracts with 2022 points (still bankable) versus those with zero 2022 points and points already borrowed from 2023?

THANKS for help!
Jen

 

[jlnten17]

1. Title company or resale company? Site sponsor is the most popular one
2. Disney has not been exercising ROFR on anything which is why I began looking at purchasing another contract. Previously many of what have passed lately would have been taken back. Sometimes it is $ per point but sometimes not.
3. I value available points at approximately $7 per point (what it would cost to rent minus dues if applicable). Be careful to not select a use year for which points will be unable to be banked (first 8 months) or utilized before they expire. From my search many of those with 2022 points available have already been banked into 2023 but there are a few that list as "triple points" where I feel the 2021 points will definitely expire before a sale could close.

 

[Epcot Forever Forever]

Super nervous! I need to convince hubby (after 20+ years) that this is STILL the right choice. I am probably going to need more DVC math to help with that.
Anyway, some hopefully small questions:
1) What title companies are good and why is it important to pick?
2) Looking at the ROFR thread and seeing $per point that passed - is it more likely to pass if it has a higher $per point than the "average" or is there something else that Disney considers?
3) How do you weigh contracts with 2022 points (still bankable) versus those with zero 2022 points and points already borrowed from 2023?

THANKS for help!
Jen

Title company temporarily takes possession of both the money and the deed, thereby ensuring you won’t get scammed. If they never get the deed, they give you back your money.

That’s their most important role when buying a timeshare from a stranger on the internet.

They also do other normal title company stuff, like ensure the title is clear of any liens, so you’re not on the hook for a an unexpected mortgage payment.

People around here seem to prefer Mason Title out of Davenport because they can be a week or two faster than other agencies. First American and Magic Vacation Title also handle lots of DVC titles.

Every contract has passed ROFR since the second week of January. I wouldn’t worry about it at all right now.

The market values having an extra year of points between $7 and $12 per year (I’d suggest you should value closer to 12 than 7). If it doesn’t have 2023 point remember that you customarily won’t have to pay dues on the 2023 points and so discount that $7-12 by the amount of the dues.

 

[Willow1213]

We just went under contract on our first set of points, and this board was a wealth of information. I would also encourage you to look up average resale prices on a few brokers sites. I used both Fidelity and DVC Resale Markets monthly price blogs for reference.

In total we made about 12 offers on 3 different home resorts with 4 brokers. We ended up slightly higher ($5 pp) than I originally wanted to spend, but we got a full slate of 2022 points. That was well worth the additional spend!

 

[jyssilly]

WOW thank you all so much!! This is all super helpful! I have 4 different contracts on 3 different sites that I'm trying to compare and figure out what is going to be the best "bang for the buck".
SO EXCITED though. I have seriously been wanting to do this for years!! So much money we could have saved over the last 20 years...

 

[lilsonicfan]

WOW thank you all so much!! This is all super helpful! I have 4 different contracts on 3 different sites that I'm trying to compare and figure out what is going to be the best "bang for the buck".
SO EXCITED though. I have seriously been wanting to do this for years!! So much money we could have saved over the last 20 years...

I created a google spreadsheet when I was looking at listings - I added the link to each listing so it was easily accessible, made columns for Use Year, # points 2022/2023/2024, price per point, dues per point, resort, total cost per asking price, and then a section called notes where I wrote down when points would need to be banked, when points would expire (if already banked), etc. As a total newbie, writing all of this down really helped me, for example, I could see if a listing had points that might expire before I was able to close on that sale.

 

[malvin25]

WOW thank you all so much!! This is all super helpful! I have 4 different contracts on 3 different sites that I'm trying to compare and figure out what is going to be the best "bang for the buck".
SO EXCITED though. I have seriously been wanting to do this for years!! So much money we could have saved over the last 20 years...

That’s great, I got an accepted offer on my first contract earlier this week. I too had a handful of “good looking” contracts all on different sites.
Once you have all the specifics in place of what you want I would just start putting in some offers on the ones you like most. You may like what you see on paper, but who knows what sellers will agree to and may really sway your choice if you get a great offer accepted.

 

[jyssilly]

I created a google spreadsheet when I was looking at listings - I added the link to each listing so it was easily accessible, made columns for Use Year, # points 2022/2023/2024, price per point, dues per point, resort, total cost per asking price, and then a section called notes where I wrote down when points would need to be banked, when points would expire (if already banked), etc. As a total newbie, writing all of this down really helped me, for example, I could see if a listing had points that might expire before I was able to close on that sale.

Great idea! That is super helpful!!

 

[jyssilly]

That’s great, I got an accepted offer on my first contract earlier this week. I too had a handful of “good looking” contracts all on different sites.
Once you have all the specifics in place of what you want I would just start putting in some offers on the ones you like most. You may like what you see on paper, but who knows what sellers will agree to and may really sway your choice if you get a great offer accepted.

Yes for sure - that is probably the way to go... I am sure I will be disappointed by the ones not accepted and ultimately excited when I finally do get one! I am kind of glad the whole thing can be done online since I think I'd be a terrible negotiator! And seeing all the accepted offers over the last 5 months has really helped too!!