Purchasing new DVC-How long to settle?

[iwannbindisnee]

Anyone that recently has purchased a DVC membership from Disney-how long did it take to get to settlemeent once they received the documents. This would be for anyone who financed with Disney. Thanks! I am anxious & excited! Deb

 

[TenThousandVolts]

I think we closed about a month after we agreed to buy. On the day we verbally agreed and put our $500 deposit down (over the phone by C.C.) we got our member number and we were in the system with all our points, we could have made a reservation immedately if we wanted.

 

[iwannbindisnee]

Thanks--we've paid our deposit, gotten our member # & actually I have to bank my points b/c we won't be travelling until Jan '08, so with a Dec UY, I only have til May 31 to bank them "officially". A member services person told me that they give you a bit longer if you actually haven't settled, but I am still nervous about it & want to be truly "official owners"!! I hope you enjoy your membership!! Deb

 

[iwannbindisnee]

Anybody else recently purchased & financed thru Disney? How long was the process? Thanks! Deb

 

[TenThousandVolts]

Anybody else recently purchased & financed thru Disney? How long was the process? Thanks! Deb

They send you papers within a few weeks- but it is important to know when buying through Disney- the closing is just a formality- you can use your membership as soon as you put down your deposit.

I don't really know when my closing actually occured. I got temporary member cards with my papers- sent the signed papers back- and received my official member cards a few weeks later. Then a couple of months after that I got the deed in the mail.

 

[Liljam]

Hey there! Congratulations and Welcome Home!

We purchased Right after our vacation - either May 10th or 11th. I got my package on May 16th. I think my closing is set for right around the second week in June. I've already booked my Jan 08 vacation through MS and banked my 06 points. In my 07 points on DVC website, it shows what I've used of those points for my Jan 08 vacation and how many I have left. It is true that you cannot bank any points until closing, but MS will bank them for you and you will see that update in the website a few minutes after the phone transaction is complete. Your dues should be due around 45 days after the purchase date according to my guide, so I'm guessing it will be right after closing. I'm paying my dues yearly so I was told to just watch the site and I would be billed for the prorated amount and then full dues will be due again in Jan 08. I did also see on the contract that the first debit of payment will be August 15th for my financing and it is slightly above what the monthly payment will be for the remainder. I hope this info helps you a little bit! Again, Welcome Home, neighbor!

 

[iwannbindisnee]

we spoke on the phone to our guide that time frame-and according to services they received our papers Thursday 5/23. We still have not gotten our PIN for the website--got our temp cards w/ the mailing, but it said there would be a separte mailing with a pin, but nothing so far. When I called Member services to bank the points (we want them for a Jan '08 trip too!) the CM was very hesitant to bank them fo rme-he said they would give me extra time to do that once we settle--I really want to jsut bank them & know they are taken care of. Maybe I will call the services line again?! Or maybe our guide....not sure who to call. Also, as I was going thru out papers last nite, realized I did not give them a copy of voided check--I'll call about that at least. Thans for the info Lil!! ANd Welcome home to you too, neighbor!! Deb

 

[Liljam]

YW! I asked for my pin and they gave it to me over the phone too. As a matter of fact, I still never received a mailing that included the pin so I'm glad they did give it to me lol!

The first guy at MS I talked to told me the same thing about banking - that even though I couldn't bank yet, they would extend the May 31st 100% deadline for me since I would not be closed by then. BUT - big BUT lol - when I called to book my vacation for Jan 08, I asked them to please bank the points for 06 so that I can use them for my trip and they did just that. If you're certain what dates you plan to go, I would go ahead and book your trip (if you're staying at SSR) and request to move the 06 to the 07 points so that they can be used for your ressie! I should be getting a voucher in the mail soon for our trip I would think.

PS I'm in WV right near Cumberland MD and about 2 hours from Baltimore!

 

[TenThousandVolts]

When I called Member services to bank the points (we want them for a Jan '08 trip too!) the CM was very hesitant to bank them fo rme-he said they would give me extra time to do that once we settle--I really want to jsut bank them & know they are taken care of. Maybe I will call the services line again?!

I would call again- especially if your banking deadline is close. I banked all my 1st round of points the day after I put down my deposit.

 

[iwannbindisnee]

I would call again- especially if your banking deadline is close. I banked all my 1st round of points the day after I put down my deposit.

I did just that after reading what you both said! So my '06 points are banked! I have not made a ressie yet, b/c we may try to stay somewhere else besides SSR, so we are still deciding. Thanks agian for the info & recommendations. & Liljam--we really are neighbors both places--we are outside of Frederick, MD so not far from you!! (Mt. Airy!!) deb

 

[popstar7867]

I have a question about the closing dates and costs? What does the closing cost cover and what do you all mean when you are talking about the closing dates? I've never heard the term before... We are purchasing a DVC in saratoga springs!

 

[Liljam]

Closing costs cover the deed and legal fees.

Closing date is the date the paper work and transaction is final.

For instance, when you buy a house and pay closing costs and sign all the forms required, you then get a closing date and on that date, the home is officially yours.

Good luck buying at SSR! And Welcome Home!

 

[popstar7867]

Closing costs cover the deed and legal fees.

Closing date is the date the paper work and transaction is final.

For instance, when you buy a house and pay closing costs and sign all the forms required, you then get a closing date and on that date, the home is officially yours.

Good luck buying at SSR! And Welcome Home!

Thanks so much. My boyfriend and I are young and have never bought property so we weren't sure what that was! Thanks so much and I can't wait to call SSR home!

 

[hellerjw]

Anybody else recently purchased & financed thru Disney? How long was the process? Thanks! Deb

We purchased at AKV the end of April and financed through Disney. However, given that AKV won't be officially opening any units until July its a bit of a unique situation. Our paperwork showed our closing as mid-June with our first payment due in mid-July.

We received our membership number within 24 hours of putting down our initial $500 deposit and booked a stay that same day. The points were available almost instantly and most of our information (upcoming stays, banked/borrowed points, etc) has already shown up on the member's site.