Question for Canadian DVC owners.

[Chester's Mum]

Is this purchase like a Canadian real estate transaction, where I'll need a canadian attorney? Are there closing fees and transfer taxes and stuff???

I'm considering purchasing but I don't know where to start, did not take the opportunity to go on a tour during my May vacation (just seemed to be too busy already). Maybe I need to wait until my next trip. I figure with all the money I've spent on my 15 or so disney vacations I could have owned already if I'd bought in the beginning.

Still purchasing an interest in something so large in another country makes me nervous.

Have you been happy that you purchased? Do you think its been a good deal?

 

[NARM Forever]

You don't need an attorney, they send you all the legal documentation and if you have any queries they will answer them in detail. Also, you are assigned a guide who are really knowledgeable, will answer your questions and most will not put any pressure on you. They are registered to sell DVC in Ontario, so it can be done by phone/courier. I seem to remember paying a fee of about $200 but I'm not sure if it was closing costs or some other fee.

We bought the minimum amount of points (150) but got developer points which meant that we had double the points in the first year - our year to treat family and friends A studio is sufficient for our needs over the next few years and with using our Aeroplan points at the weekend to stay at the Dolphin, we can manage a two week vacation.

I don't consider it was a risky buy in the least. Is it a good deal? Depends on the situation, compared to what friends have paid for accommodation, I would have to say yes. In having a stress-free holiday with my DH, who normally spends the whole holiday worrying about our DSs, its definitely a yes. I think the only issue I may have is paying maintenance fees on a year when we're not going to WDW because I've borrowed points the year earlier - now whose fault will that be

NARM

 

[Alysa]

Best purchase we ever made. Unless you want to buy at AKL, I would investigate a resale from the Timeshare Store - I think you can save a lot of money that way.

 

[sean-1966]

You won't regret it. Our only regret was not buying more points at the begining. We've added on 3 times.

 

[BitsnBearsMom]

Best purchase we've made too - Disney had everything handled on their end - all we had to do was sign papers and give them money.

BTW according to the DVC person I was chatting with a few weeks ago the minimum number of points to buy in is now (or is going to be..... not 100% sure) 160 and not 150 like it used to be - he said it was b/c 160 is the number you need for most II exchanges if you were going to choose to do that Anyone know anything about this??

 

[dsneygirl]

We just watched the new DVD with the AKL preview and they said minimum is 160. We used The Timeshare Store and highly recommend them. Everything was done by phone or fax.

 

[bbangel]

The minimum buy in from Disney is 160. The points for exchange are a one bedroom in the middle season (not high, not low). You need fewer points for exchange during low season or for a studio.

I'm buying resale right now and they have been very helpful. Most difficult part is arranging the money transfer and the bank was very helpful with that.

 

[bababear_50]

Hi Chesters mom I'm going to suggest you head over to the DVC (Disney Vacation Board )and read read read --so much info to learn then post post post --the people there have a ton of info and good advise.,,,then buy buy buy.
I thought I knew so much from the tour and dvd but there is so much more that can help you plan and be an informed buyer.
In March I went down and took the tour again and went for a visit to 4 of the 7
DVC resorts .I really got a feel for where I want my home resort to be . I came back posted more questions -researched threads and contacted the Timeshare store and each day they email me new listings avaliable.
Hope this helps
Hugs Mel

 

[ont/ohana]

We bought through disney direct, totally painless and worth it. Started looking back in 1993, 1995 and then again in 2003, waited too long and didn't buy till 2005 ( should have bought sooner ). Called our guide 2 days ago and added on another 100 points. No regrets or buyers remorse. Be sure of the resort you want to stay at is your home resort. Some resorts can be near impossible to get in at the 7 month mark ( early December through NYE, Easter, Thanksgiving, etc. ). We did book BCV however no problem in March for the Ontario spring break. We are happy at SSR and enjoy our relaxing stays there. We just think we own a small piece of magic.

 

[Tabetha]

I bought last year, and I'd never been on a tour...

I just called, and my guide was able to answer all my questions with absolutely no pressure.

I only needed to get one form notarized because I was financing through Disney...

 

[lisaviolet]

A studio is sufficient for our needs over the next few years and with using our Aeroplan points at the weekend to stay at the Dolphin

NARM

I've been trying to figure out a way to spend our aeroplan points at Disney. Was hoping for passes...

Dolphin? How many points?

Thanks,

Lisa

 

[Questforthemouse]

Is this purchase like a Canadian real estate transaction, where I'll need a canadian attorney? Are there closing fees and transfer taxes and stuff???

I'm considering purchasing but I don't know where to start, did not take the opportunity to go on a tour during my May vacation (just seemed to be too busy already). Maybe I need to wait until my next trip. I figure with all the money I've spent on my 15 or so disney vacations I could have owned already if I'd bought in the beginning.

Still purchasing an interest in something so large in another country makes me nervous.

Have you been happy that you purchased? Do you think its been a good deal?

As others have suggested...head over to the DVC boards and you will learn more than the guides can tell you. Take your time and make sure. It's easy to get caught up in the excitement. Having said that...it's one of the best purchases DW and I have made. Will be adding on in the near future.

I can't predict the future but if I were in your shoes I'd probably wait till sometime towards the end of the summer/early fall as the CDN dollar continues to climb. I bought last October and if I bought today would have saved $1200. You've picked a good time to consider DVC as a Canadian.

 

[Canada 1850]

The minimum buy in from Disney is 160. The points for exchange are a one bedroom in the middle season (not high, not low). You need fewer points for exchange during low season or for a studio.

I'm buying resale right now and they have been very helpful. Most difficult part is arranging the money transfer and the bank was very helpful with that.

How are you doing this? We have decided to buy, but since DVC is only registered in Ontario, we were told that we had to buy in the state of Florida or if we had an Ontario address. They (DVC) would send stuff to Ontario, but I don't know if that could be a PO box or not. Also, they said that I'd have to get a notary to proof everything. Right now, I'm planning on flying down alone for a day in August to join. This is because there is a summer incentive of double your joining points on right now. This started June 5th, as the other promotion ended June 4th. I spoke to our DVC rep several times this week to clarify. We are buying 200 points and get a bonus 400 points right away, which have to be used within 7 months. If I join in mid August, I can use points for our Christmas trip (instead of POP) and use more for our March break during the first week of March.

Sorry for rambling, but I know the experts are online here. Do I have to fly to Florida in August to join, or is there another way?

Thanking you in advance for your help

 

[bbangel]

How are you doing this?
Sorry for rambling, but I know the experts are online here. Do I have to fly to Florida in August to join, or is there another way?

Thanking you in advance for your help

If you buy direct from Disney you have to be in Ontario or at one of the parks (California or Florida). You will need a notary if you finance through Disney (which is a bad idea unless you can't get financing here)

I am buying through The Time Share Store, a place that specializes in re-sales. Almost everything is being done through email and fax. You won't get the current incentives offered by Disney but you can usually end up paying less per point and you can choose more than just SSR and AKV. Check out the resale listings for an idea of what is available.

Also be aware that availability around Christmas will likely be very limited and you may not get into a DVC resort for your travel dates.

 

[bababear_50]

Canada 1850
you are correct -if you are not an Ontario resident then Disney can not send you Timeshare info.

Yes they are offering developer points in AKV (Animal Kingdom Villa),you would receive this years points 200 and 200 developer points . The developer points must be used in 7 months and I don't believe they can be banked into your next year.I am not aware of a new incentive offering double developer points though. What use year are you thinking of? Ask your guide if he/she can guarantee your ability of booking a ressie for for christmas and march break because these are very popular times and may already be booked. (no avalibility)You have 11 month window in which to book at your home resort and a seven month window to book at non home resorts. So Feb 07 would have been your 11 month booking window for Dec o7 vacation and May 07 would be your 11th month booking window for March 08 vacation. You still may be able to book something but it may not be at your home or prefered resort. I am a newbie myself since Feb 07 and have found the DVC forum here is great --I'd try posting over there and I'll bet you get a ton of responses.
Take care and hope you are soon a member .

Hugs Mel

 

[Canada 1850]

Thanks for those informative responses.

Our DVC rep stated that the new 'double' points incentive just came out this Tuesday. She was very clear that we get 400 points (to be used within 7 months), plus an allotment of 200, which will be assigned a normal use year sometime in 2007. When I asked about getting Christmas reservations if I joined in July, she did admit that AKL and some of the 'smaller' DVC resorts would probably be sold out, but she said that SSR and OKW are larger and would likely have rooms available into Sept. Also, even though it's not a great use of points, she said we can use some of our 400 bonus points to stay at a non DVC moderate or deluxe (Disney Collection Hotels).

Do these last few statements sound correct? Should we be able to get a room somewhere on site for Christmas 2007 if we join in late July?

 

[Canada 1850]

If you buy direct from Disney you have to be in Ontario or at one of the parks (California or Florida). You will need a notary if you finance through Disney (which is a bad idea unless you can't get financing here)

I am buying through The Time Share Store, a place that specializes in re-sales. Almost everything is being done through email and fax. You won't get the current incentives offered by Disney but you can usually end up paying less per point and you can choose more than just SSR and AKV. Check out the resale listings for an idea of what is available.

Also be aware that availability around Christmas will likely be very limited and you may not get into a DVC resort for your travel dates.

I did the financing here at home, so that's all done.

I've checked out The Timeshare Store offerings. Are the 'rules' for purchasing different than the 'having to be in Ontario or Florida' rule that exists when you purchase directly from Disney? If so, do you know why this is the case?

 

[bbangel]

I did the financing here at home, so that's all done.

I've checked out The Timeshare Store offerings. Are the 'rules' for purchasing different than the 'having to be in Ontario or Florida' rule that exists when you purchase directly from Disney? If so, do you know why this is the case?

The Timeshare Store is a real estate office and basically acts as a broker between a buyer and a seller.
Disney has to license as a time share seller in each jurisdiction. They have chosen to register/license only in Ontario as that is where the bulk of their purchasers from Canada are. Basically different rules since they are selling as a corporation and with TSS you are buying from an individual through a broker.

 

[Kurby]

Best purchase we ever made. Unless you want to buy at AKL, I would investigate a resale from the Timeshare Store - I think you can save a lot of money that way.

why do you say that?

we bought 210 at AKL and can't wait for our first trip in 18 months.

we're actually going to rent out this years points to help pay for a DCL cruise that we are going to take right after our stay at WDW in AKL.

we wish we have looked into it during our first trip together 5 years ago but we didn't and we're ok with it - a lot of people say they wish they had bought sooner but for us we weren't ready for it so we didn't look into it.

truth be told i wish one of us had bought right at the very beginning but i also wish we had won the $40 million a few years back LOL so there ya go.

 

[Alysa]

Why do I say what? You just can't buy AKL at the timeshare store - is that what you meant?