Newbie trying to figure it all out - VGC??

[ClaraOswald]

Right?! THE. WORST.

 

[ClaraOswald]

I got super excited when I saw two contracts for 140 pts in December pop up. I started to do the math to see if 140 would be enough for our trips....and it might (but maybe just in studios for most trips.) Then I realized they say they won't close until September. So that doesn't work at all for next years trip.

We are getting super close to being able to make some offers though!

 

[AstroBlasters]

I got super excited when I saw two contracts for 140 pts in December pop up. I started to do the math to see if 140 would be enough for our trips....and it might (but maybe just in studios for most trips.) Then I realized they say they won't close until September. So that doesn't work at all for next years trip.

We are getting super close to being able to make some offers though!

How many points do you need for your June trip?

 

[ClaraOswald]

128 if we do a studio.

I still think we might be happier with a 160 contract so we could more easily do a 1 bedroom some years.

 

[HIRyeDVC]

128 if we do a studio.

I still think we might be happier with a 160 contract so we could more easily do a 1 bedroom some years.

Sorry. I love to tease and I can't resist.

 

[ClaraOswald]

I swear...we're getting close! (Though I suspect none of the sellers will like my offers...ha!)

 

[AstroBlasters]

I swear...we're getting close! (Though I suspect none of the sellers will like my offers...ha!)

It can be a process, especially with VGC sellers.

 

[ClaraOswald]

It can be a process, especially with VGC sellers.

Yeah, I'm trying to prepare myself.

I will say...keeping an eye on contracts and watching new ones show up and ones get offers has been strangely fun. When we eventually get our contract, it will be hard to not look anymore! Especially because I'll be sad if prices drop a ton.

But maybe for fun I'll pick a different resort and just watch those and dream. I'll consider it a new hobby.

 

[E2ME2]

Yeah, I'm trying to prepare myself.

I will say...keeping an eye on contracts and watching new ones show up and ones get offers has been strangely fun. When we eventually get our contract, it will be hard to not look anymore! Especially because I'll be sad if prices drop a ton.

But maybe for fun I'll pick a different resort and just watch those and dream. I'll consider it a new hobby.

Yuup - Buying DVC resale is a Hobby,
kinda-like Cocaine is a Hobby

 

[HIRyeDVC]

kinda-like Cocaine is a Hobby

She's totally joking of course.....

 

[ClaraOswald]

So for the heck of it, I asked a question via the chat feature on the sponsored site. I basically just asked if there's a way to know if a seller is open to negotiating or if they are firm on asking price. The guy that responded said the listing will say if the seller is only wanting the full price. He then said that people often offer $2-10 less than asking and negotiate from there. But in looking at other posts, that seems like a low estimate and people typically submit offers less than that, right?? He then gave me his info if I have more questions, which I appreciate.

But when it comes to making an offer on a contract....I just end up dealing with the specific person assigned to that contract, right? I don't choose the person I work with?

 

[Royal Consort]

So for the heck of it, I asked a question via the chat feature on the sponsored site. I basically just asked if there's a way to know if a seller is open to negotiating or if they are firm on asking price. The guy that responded said the listing will say if the seller is only wanting the full price. He then said that people often offer $2-10 less than asking and negotiate from there. But in looking at other posts, that seems like a low estimate and people typically submit offers less than that, right?? He then gave me his info if I have more questions, which I appreciate.

But when it comes to making an offer on a contract....I just end up dealing with the specific person assigned to that contract, right? I don't choose the person I work with?

Keep in mind that the prices in the ROFR thread are a guide only. They are self-selecting and skewed to the lower end. That's not what the majority of people are necessarily paying. If your offers are lowballs, then yes, you're going to get a lot of refusals. Many here make lowball after lowball until they find one who accepts. In my view, is the time spent doing that worth the few extra hundred saving? If you like the contract and it works for you, put in an offer you think is reasonable. It is either countered by the seller or if too low, outright rejected.

I use a variety of sources including the ROFR thread here and also the board sponsor average price blog to get an idea of market conditions and factor offers accordingly: https://www.dvcresalemarket.com/blog/dvc-resale-average-sales-prices-for-february-2023/

 

[ClaraOswald]

Yeah, I was looking at that chart. It has the average for VGC at 243 last month, which I think makes sense when you consider the lower priced ones and higher priced ones kind of cancelling each other out. But with contracts of varying point amounts, it seems like prices are more spread out. I know that even just the 160 pt contracts are listed 244 - 279 ($39,000ish to $44,600ish) which is a fairly large range to work with.

 

[ClaraOswald]

Okay.....so some of the contracts say they can't close until a certain date. Ones that can't close until early June....is that cutting it too close to our 11-month window for booking a June 2024 trip?

Also...when you go to submit an offer, besides name and contact info, is there anything extra they need from us at that point?

 

[AstroBlasters]

Okay.....so some of the contracts say they can't close until a certain date. Ones that can't close until early June....is that cutting it too close to our 11-month window for booking a June 2024 trip?

Also...when you go to submit an offer, besides name and contact info, is there anything extra they need from us at that point?

I guess it depends on if the close date means that all seller docs are returned and good order ready to be sent to Disney by that date.

Assume it will take Disney 2-3 weeks to create a membership and load the points once they receive closing docs.

Different brokers have different requirements.

Generally:

1) Name of buyers and email addresses
2) price per point
3) who pays dues
4) who pays closing costs
5) purchase or financed

 

[ClaraOswald]

So I should put both my name/info and my husband's as well with an offer?

 

[Royal Consort]

So I should put both my name/info and my husband's as well with an offer?

California is a community property state anyway but do you want him on the deed? If you do then put both names. You can sort it out later after offer if you need though.

 

[AstroBlasters]

So I should put both my name/info and my husband's as well with an offer?

However you want the title to be registered. I have always put our first name, middle initial, and last name.

 

[ClaraOswald]

Thanks. I definitely want both of our names on there then.

 

[ClaraOswald]

Do any of you get major buyer's remorse right after big purchases? I mean, I don't know if it's actually remorse or what but I've always felt so weird after a big purchase. Like our house, our cars, and our camper. It always turns out fine and I end up super happy with it all. But it's just those initial days/weeks where I feel a bit sick to my stomach about it all.

I'm really dreading that feeling when we are finally able to get a contract that works for us.