Question about DVC resale vs. Disney

[TigrLvsPooh]

My husband and I are considering buying an OKW resale from the Timeshare Store. We love OKW and would love to call it "home". I already read the thread below about resale owners not being eligible for referrals... what else should I know?? What other differences are there between resale and buying from Disney. Right now I'm just seeing $65 at our favorite resort vs. $80 for BCV's.

Thanks so much for your help and information!

 

[Jimbo]

1. That referral bonus thing is a non-issue. I am a resale owner and have gotten the bonus when I referred someone. Sounds like a sales 'technique' to me.

2. When someone puts up their DVC points at $65 per point, that is their asking price. In practically every case, the seller will accept less than that. We haggled a little, while others drove a really hard bargain. How much haggling you wish to do is a personal decision.

3. Expect to pay closing costs in the neighborhood of $400-$500. There are no closing costs when buying from Disney.

4. Make sure you understand the current point situation for the contract - how many points are borrowed, banked or already used? - and adjust your offer accordingly.

Good luck! Our OKW resale is one of the best purchases we've ever made. I hope it works out for you, too.

 

[TIdoublegaER]

If OKW is where you want to buy, then go with resale. DH and I bought our OKW resale through Timeshare Store and couldn't be happier with it. We were already DVC members, so we didn't get all the goodies for new members. You will also need to secure your own financing with a resale (ie, home equity loan).

I have to wonder on the referrals - if you buy a resale and then refer someone who buys directly from Disney, why shouldn't you get the referral? After all, you are a member and Disney would be getting the sale!

 

[TigrLvsPooh]

We are actually looking to buy the points without financing. Does that make a difference??

Also, can you explain about borrowed, banked, and used points?

Oh, and do we still get 40 years, or is it less for resale?

Thanks!

 

[TIdoublegaER]

If you are going to pay cash, there should be no difference at all. The end date for DVC is January 2042 regardless of which resort you buy into. So you will get 40 years whether you buy from Disney or resale.

When looking at the resales, look to see if the seller has used any or all of their current points, whether any are banked into the next year(or this year) or whether any are already borrowed. This will help you determine whether you are getting a good deal.

When we bought our resale last Oct., there were 2 contracts for the exact same $ amount. One was the same as our HH use year (Feb), but they had used all of their 2001 points and borrowed all of the 2002 points, which meant that we wouldn't get any points without borrowing until Feb 2003!! The other contract had banked points from 2000 and all of the 2001 points, although the use year was different from our HH contract. We went with the second one because it was the better value for us.

One other thing I would like to point out is that with resale you will probably have to pay for this years dues, where through Disney, it would be prorated. However, this is always negotiable with the seller.

 

[TigrLvsPooh]

Thank you so much TidoublegaER!

 

[RLevy29]

We bought 150 at OKW from the Timeshare Store and it was painless. We started the "ball rolling" in late August and by September 15th our deed was recorded and we were able to make our reservations. We did not finance either. I don't know if that makes a difference in how fast the transaction is completed. As other posters have said, the current year's dues are negotiable as is the selling price. If you have banked points with a contract, that puts you ahead of the game.
Good luck with your decision!