Presell?

[tiggersgirl]

Hi!
I just got some DVC information in the mail today and I have a few questions?
There was a list of examples as far as monthly fees and it said tax was included, does anyone know what the tax rate is? Would it be Florida's tax rate or your state's tax rate?
The ten year financing interest rate was a little over 14%, I thought I read somewhere that it would be 10% if the monthly fees are taken directly from your account, is this true?
And what exactly is a presell? Should you buy just enough points to reserve a space and add later or should you buy exactly the number of points you want? Is there an advantage to buying during a presell as opposed to waiting a few months?
Also if I started out with the minimum 150 and want to add on later at the same location, would they add the two together or would it be a different contract with 2 different monthly rates?
Thanks for any information you can give!

 

[drusba]

1. The taxes they are talking about are local property taxes that are included as part of your dues (represents about 15 to 20% of dues). Those taxes are deductible.


2. Generally the finance rate is lower for first time purchasers who put 20% down and subject to some time periods to decide and having automatic withdrawals for payments. What the actual rate is varies with the market and thus whether it is 10% or some higher number just depends on what they are offering at the particular time. You should probably ask for actual current rates.

3. Presell simply refers to selling interests in a resort before it is completed and ready for occupancy. There have been rumors that Beach Club Villas, scheduled for opening in Sep 2002, may presell but nothing has been confirmed. VWL is currently for sale and it is not a presell. No real advantage to presell except that you lock in whatever price is offered during presell and avoid possible higher price when resort opens.

4. If you add on later (which you can do at increments of 25 points or more), you will get a separate contract with its own financing rates available at the time of the add-on. (Note, they will not finance, but instead require cash, for an add-on of less than 50 points.) The points will be in the same use year and will be part of the total you are considered to have. Whether you can add on at the resort you originally bought at will depend on whether the resort is still being sold; for example, BWV and OKW are sold out. VWL is expected to sell out in the next several months and thus if you buy there now you may not be able to add on there a year from now. You can add on by buying at a different resort.

 

[wdwnut]

hi: just toadd to drusba's post- what many people do to figure out how many points they will need is to look at the point calculator and see how many points they would need to have for their vacation habits. here's a link to the point calculator
http://www.wdwinfo.com/resort/dvcpoint.shtml

 

[Terry S]

Tiggersgirl, Is there mention of a presell in the information you received or did you read that here on the boards?

 

[tiggersgirl]

Hi Terry, I read Bunnymkc's post (a few rows down) and she relayed in her post " Got a call from my guide" that her guide mentioned that BCV would probably start preselling this year. When the DVC called me recently I told the salesperson that I was interested in the BCV, however I haven't received a follow-up call mentioning a presell, hopefully she'll remember and contact me.