Offer Accepted

[mhopp77]

Hello

So my offer was accepted by the DVC owners (resale), now the contract is being drawn up and then from there I'm assuming it gets submitted to Disney for their ROFR. So as long as it gets to Disney prior to 3/20 I will not be affected by the rules changes correct?

 

[mjc2003]

So my offer was accepted by the DVC owners (resale), now the contract is being drawn up and then from there I'm assuming it gets submitted to Disney for their ROFR. So as long as it gets to Disney prior to 3/20 I will not be affected by the rules changes correct?

You will get both get the contract, as soon as you return it with your deposit and the seller returns it signed, it will be sent to Disney for ROFR. As long as Disney receives it before 3/20, you are fine. The only problem would be if the agreed price it too low for Disney's liking, and they buy it up. Then you are starting over after 3/20 (since the ROFR process takes 30 days). But, they've only been buying up BCV contracts below a certain price, so you should be fine.

I am currently in ROFR. To give you an idea of how fast the contract process was (this was through Fidelity):

2/21: Offer made
2/22: Offer accepted, contract emailed to both parties
2/23: Contract returned by buyer (me) with deposit (on credit card)
2/24: Contract returned by seller--Contract sent to Disney for ROFR

So it's all very fast....

Good luck! Where are you buying?

 

[sleepydog25]

mjc2003 is correct in that if the contract is submitted for ROFR by 3/20 and is subsequently accepted then all is fine re: grandfathering of all privileges. Keep in mind, however, that the signing and returning of documents might take a bit longer depending on how motivated the sellers are. Given the current market and impending deadline, I suspect most sellers are quite motivated to get free of their contracts; however, there is no guarantee of such. Best of luck!

 

[mhopp77]

We are buying at SSR at $58/pt! We are super excited! Can I put the whole thing on CC??? I want to b/c I have the chase disney rewards!

 

[Sandisw]

We are buying at SSR at $58/pt! We are super excited! Can I put the whole thing on CC??? I want to b/c I have the chase disney rewards!

Only when you buy through Disney. Most resales don't take payment in full via CC. Some will take the deposit, but I believe there is a fee (not sure).

Congratulations!!!

 

[mjc2003]

We are buying at SSR at $58/pt! We are super excited! Can I put the whole thing on CC??? I want to b/c I have the chase disney rewards!

My understanding is that you cannot put the whole thing on the credit card. I didn't explore this option, so don't quote me, but I seem to recall them saying that only the initial deposit up to $1000 could be put on the credit card.


It MAY depend on your reseller?

 

[Havana]

We just purchased resale and they offered the deposit to be paid on credit card. While I did not ask about paying for the rest of the contract on a credit card, the only payment methods they mentioned were wire transfer or certified check.

 

[mhopp77]

Wonder if I can put the deposit and 2011 maintenance fees on CC?

 

[DVCconvert]

My understanding is that you cannot put the whole thing on the credit card. I didn't explore this option, so don't quote me, but I seem to recall them saying that only the initial deposit up to $1000 could be put on the credit card.


It MAY depend on your reseller?

TTS told me exactly this recently. And there's a $35 charge for doing so.
I wouldn't worry about ROFR with BWV passing at 50 I think OP will pass.

 

[mjc2003]

Wonder if I can put the deposit and 2011 maintenance fees on CC?

Not sure, but I know the maintenance fee's in my case are part of the total amount I owe at closing, so they have to be paid up front. Going forward, I think you can do them monthly via credit card (starting in 2012).

I also just spoke with Fidelity about something else and asked what my payment options were upon closing, and was told a wire transfer or bank check (the 3rd option would be financing), so since the MF's are part of that amount, I'd speculate that they cannot be put on a CC.

Don't hesitate to ask the reseller you are working with. I'd hate to give you bad info! At the very least, if you want to put something on the credit card find out what the maximum allowable deposit would be.

 

[EWL]

We are buying at SSR at $58/pt!

Wow! I'm curious-- do you mind sharing how many points? And was that the listing price or did you make an offer? Congratulations!

 

[mhopp77]

The contract is for 175 points and it's at SSR and they were asking $60/pt and we offered $58!

 

[skylynx]

Talk about moving things fast...I opened my TSS email last Friday with a listing for a 25 pt add on at VWL for $84 pt and was on the phone immediately. We were so excited it was still available, since small add ons at VWL don't come through often. I know there were VWL contracts for way less per point, but not for small add-ons like ours.

Here's what I mean about speed:

Friday, March 4

9 AM: Spot VWL add-on advertised in TSS email. Called TSS and said we wanted it. Did not want to risk losing it by haggling over price. TSS person took our details by phone and said we would receive emailed contracts that afternoon.

2 PM: emailed contracts arrived from TSS, with EVERYTHING correct and spelled correctly. We faxed back the two signed docs necessary. Sent email to TSS asking to let us know that the faxed documents arrived.

5 PM: get cordial email from Jason at TSS telling me our faxed docs arrived safely. He explained what the process would be going forward, and invited me to feel free to ask questions since this is our first add-on using TSS.

Saturday March 5

9 AM: Go to post office to overnight contract originals and deposit check to TSS.

11 AM: Get email from TSS our package has already gone to Disney ROFR.

Monday March 7

11 AM: Get courtesy email from TSS that our overnighted contract and check were received today, on schedule.


Needless to say, so far so good using TSS for this! I imagine they are expecting an ever-growing avalanche of contracts as D-day approaches, and so are trying to move things along in anticipation.

 

[jstarcze]

Here's what I mean about speed:

Friday, March 4

9 AM: Spot VWL add-on advertised in TSS email. Called TSS and said we wanted it. Did not want to risk losing it by haggling over price. TSS person took our details by phone and said we would receive emailed contracts that afternoon.

2 PM: emailed contracts arrived from TSS, with EVERYTHING correct and spelled correctly. We faxed back the two signed docs necessary. Sent email to TSS asking to let us know that the faxed documents arrived.

5 PM: get cordial email from Jason at TSS telling me our faxed docs arrived safely. He explained what the process would be going forward, and invited me to feel free to ask questions since this is our first add-on using TSS.

Saturday March 5

9 AM: Go to post office to overnight contract originals and deposit check to TSS.

11 AM: Get email from TSS our package has already gone to Disney ROFR.

Monday March 7

11 AM: Get courtesy email from TSS that our overnighted contract and check were received today, on schedule.


Needless to say, so far so good using TSS for this! I imagine they are expecting an ever-growing avalanche of contracts as D-day approaches, and so are trying to move things along in anticipation.

Mine was this fast also. My Offer, offer accepted, contracts sent and returned in one day. Then submitted for ROFR the very next day.

 

[jstarcze]

We are buying at SSR at $58/pt! We are super excited! Can I put the whole thing on CC??? I want to b/c I have the chase disney rewards!

Here's an idea that might be possible. If your disney rewards card has a credit card check offer running now and the reward was still offered for the amount of the check, then you could make the check out for the amount of your purchase, deposit the cash in your checking account, get the cashiers check for the closing and still get the rewards as if you used your credit card.

 

[rowval]

Talk about moving things fast...I opened my TSS email last Friday with a listing for a 25 pt add on at VWL for $84 pt and was on the phone immediately. We were so excited it was still available, since small add ons at VWL don't come through often. I know there were VWL contracts for way less per point, but not for small add-ons like ours.

to TSS asking to let us know that the faxed documents arrived.
Needless to say, so far so good using TSS for this! I imagine they are expecting an ever-growing avalanche of contracts as D-day approaches, and so are trying to move things along in anticipation.

hi. we own 3 contracts, I have not been following the threads lately. what do you mean as D-day approaches? thanks

 

[skylynx]

By D-day I meant the March 20 deadline for contracts submitted to Disney. Any resales submitted to Disney after that will have some limitations that those who purchase direct from Disney will not...for example, you cannot use points acquired via re-sale for Disney Cruise or Adventures by Disney vacations. If you never intended to use your points for cruises or ABD, this should not be a big problem, but there WILL be a difference between Disney-purchased contracts and resale contracts after March 20.

 

[KingRichard]

Talk about moving things fast...I opened my TSS email last Friday with a listing for a 25 pt add on at VWL for $84 pt and was on the phone immediately. We were so excited it was still available, since small add ons at VWL don't come through often. I know there were VWL contracts for way less per point, but not for small add-ons like ours.

Here's what I mean about speed:

Friday, March 4

9 AM: Spot VWL add-on advertised in TSS email. Called TSS and said we wanted it. Did not want to risk losing it by haggling over price. TSS person took our details by phone and said we would receive emailed contracts that afternoon.

2 PM: emailed contracts arrived from TSS, with EVERYTHING correct and spelled correctly. We faxed back the two signed docs necessary. Sent email to TSS asking to let us know that the faxed documents arrived.

5 PM: get cordial email from Jason at TSS telling me our faxed docs arrived safely. He explained what the process would be going forward, and invited me to feel free to ask questions since this is our first add-on using TSS.

Saturday March 5

9 AM: Go to post office to overnight contract originals and deposit check to TSS.

11 AM: Get email from TSS our package has already gone to Disney ROFR.

Monday March 7

11 AM: Get courtesy email from TSS that our overnighted contract and check were received today, on schedule.


Needless to say, so far so good using TSS for this! I imagine they are expecting an ever-growing avalanche of contracts as D-day approaches, and so are trying to move things along in anticipation.

How much is the closing cost on 25 points?

Just bought 150 for BLT and faxed agreement over. Have to move fast as we are running out of time.

 

[skylynx]

Our closing costs are estimated at $322.

 

[goofystitchfan]

Congrats to all of you. This is amazing. I am a current owner at SSR and we have added on to our points 2x thru Disney directly. How/where can I sign up or look for these other deals. We would love to purchase additional points but it is so expensive. TIA