Questions about purchasing DVC NOT through Disney

[lyndeah]

Many of you have mentioned that because of price it is much better to buy DVC points thru other sources than direct thru Disney so I have a lot of questions about this.

1. How do you verify the title is clean? No liens, etc?
2. Can properties still be deeded to your children in the future?
3. Since you didn't go through Disney direct, how do you make your reservations? Do you still have all the same benefits/access to a customer service agent to set everything up for you? website, etc?
4. Do you still have all the same perks (ie can use points for adventures by Disney, other 3000 resorts, etc)

Are there other pros/cons to either buying direct or buying non-direct (besides price) that I havent thought here?

I just need to make sure I know all the facts before we decide which route is the best for us Thank you sooo much for all your information!

 

[jerseyduke]

Glad to see you are asking the questions you need to ask

With regard to #3, you are a member, so you use the site or call member services like everyone else.

#4. The points, are indeed restricted. Others will tell you what you can not use them for. I can say, that the General consensus is, that those are not a good use of points anyway. You can rent your points out, and use the cash for one of those options. It will take doing this quite often to eat up what you saved by buying resale. If you are going to stay, by and large, at one of the DVC resorts, this aspect is worth it. Rent them out and use the cash.

Take a Disney member cruise for example.
A 7 day cruise, eastern Caribbean aboard the Fantasy for the lowest class room is about 200 points per person. If you rent out those points, you will get anywhere from 2000-2400$. That probably just about pays for the cruise!

Just looking on line, an inner state room January aboard the fantasy is 1900- FOR TWO!!!!!

Also, you can not book a cruise with your points in the last four months of your UY.

This is just an example why the general consensus is that what you forfeit is not worth much anyway.

 

[com_op_2000]

1. How do you verify the title is clean? No liens, etc?
This is done between DVC and the closing company. If you have doubts have your attorney review the docs before closing.

2. Can properties still be deeded to your children in the future?
Yes

3. Since you didn't go through Disney direct, how do you make your reservations? Do you still have all the same benefits/access to a customer service agent to set everything up for you? website, etc?
Yes to all of these questions

4. Do you still have all the same perks (ie can use points for adventures by Disney, other 3000 resorts, etc)
No
You do not have access to ABD, DCL, and Concierge collection resorts. You still have access to the RCI exchanges.

 

[chalee94]

1. How do you verify the title is clean? No liens, etc?

that's why i went through a reputable reseller like the timeshare store. they communicate with disney regularly and know what to look for in terms of unusual issues.

2. Can properties still be deeded to your children in the future?

it's the same as buying direct. the end date for the resort is still the same as buying direct (except for some OKW contracts).

3. Since you didn't go through Disney direct, how do you make your reservations? Do you still have all the same benefits/access to a customer service agent to set everything up for you? website, etc?

it's the same as buying direct.

4. Do you still have all the same perks (ie can use points for adventures by Disney, other 3000 resorts, etc)

you can still use resale points to book other timeshares through RCI and a few other options, like club intrawest.

trading for disney collection (disney cruises, ABD, disney hotels like yacht club resort or paradise pier) is not an option if you buy resale - also some fancy hotels like the hotel del coronado and similar resorts - but trading costs are high so be sure to look at the point charts (which can increase annually - they are not fixed like DVC resorts) before you buy.

http://dvcnews.com/index.php/99-all-dvcnews-posts/2545-2015-disney-cruise-point-charts-available

you do still get all dining and AP discounts.

Are there other pros/cons to either buying direct or buying non-direct (besides price) that I havent thought here?

if you pay extra to buy direct, you get access to your pts faster (usually just about immediately). DVC will usually make an effort to access their inventory if you need a reservation that would otherwise be sold out (first reservation perk only). DVC will also cheerfully bank pts that would otherwise be past the banking window (say, if you buy a sept UY in july/august - at initial time of purchase only). and of course, by paying more to buy direct, it's easy to get a loan from disney to pay an extra 10-15% on your timeshare purchase.

but if your life circumstances change in a hurry, you will be reselling at resale prices regardless of how you bought initially. (and that might not be enough to pay off your loan.)

 

[julluvsdisney]

6 short weeks ago I felt that going through Disney was the way to go because I wanted to use our points for ABD and DCL. I was ok with paying full price for these perks. Then I started doing my research and I quickly changed my mind! The ONLY drawback I saw for resale was the lost of ABD and DCL. But the points needed for one of these made me realize what a waste of points these "perks" were. As far as ABD it would cost me about 500 points per person and the DCL would cost 200 a person! We are a family of four so this is a crazy amount of points to be used!

We have decided to purchase a contract for 150 points(resale) vs 100 points(direct) for $6000 less!
The money saved will go towards our second contract purchase(which was always the plan for our dec and may vacations!)!

Im not saying that resale is for everyone but it is worth doing your research!

Good Luck with your decision!

 

[Lynne M]

All that buying resale means is that you're assuming ownership of a timeshare contract that was once owned by someone else. Use of the system is still the same. The contract is the same. Whether you buy direct from Disney, or through an agent, you are still purchasing the right to use your points for accommodations at DVC resorts for the duration of your contract. Everything else is subject to change, whether you buy direct or resale.

The only material difference is that you won't be able to use points for DCL, ABD, the Concierge Collection, and the non-DVC Disney resorts. That's not a loss, as you'd pay more for those options by using your points than you would by simply making cash reservations. In fact, many members who CAN use their points for DCL, etc, rent out their points, use that money to pay for the reservation, and pocket the (substantial) difference.

 

[disneynutz]

Here is another thought, thousands of contracts have been sold through the resale market, this isn't something new, it has been in existence since Disney opened the Disney Vacation Club.

Bill

 

[Msmithmd]

Part of your closing cost is title insurance, just like with any other real estate purchase. The only exception would be a private party sale where you trusted the seller implicitly (like buying from your parent or best friend.)

Any contract has to go through estoppel process where the points are verified. And if there is a lien against the contract, that has to be satisfied at closing.

Which is sad for a direct buyer who gets in trouble, has to sell, and then has to bring money to closing because they are under water versus what the resale market will offer. But even then as a resale buyer, you are protected by the title agency/closing company and there is no risk you would be on the hook for someone else's lien.

 

[lyndeah]

that's why i went through a reputable reseller like the timeshare store. they communicate with disney regularly and know what to look for in terms of unusual issues.



it's the same as buying direct. the end date for the resort is still the same as buying direct (except for some OKW contracts).



it's the same as buying direct.



you can still use resale points to book other timeshares through RCI and a few other options, like club intrawest.

trading for disney collection (disney cruises, ABD, disney hotels like yacht club resort or paradise pier) is not an option if you buy resale - also some fancy hotels like the hotel del coronado and similar resorts - but trading costs are high so be sure to look at the point charts (which can increase annually - they are not fixed like DVC resorts) before you buy.

http://dvcnews.com/index.php/99-all-dvcnews-posts/2545-2015-disney-cruise-point-charts-available

you do still get all dining and AP discounts.



if you pay extra to buy direct, you get access to your pts faster (usually just about immediately). DVC will usually make an effort to access their inventory if you need a reservation that would otherwise be sold out (first reservation perk only). DVC will also cheerfully bank pts that would otherwise be past the banking window (say, if you buy a sept UY in july/august - at initial time of purchase only). and of course, by paying more to buy direct, it's easy to get a loan from disney to pay an extra 10-15% on your timeshare purchase.

but if your life circumstances change in a hurry, you will be reselling at resale prices regardless of how you bought initially. (and that might not be enough to pay off your loan.)

Charles -- regarding your last couple paragraphs-- if you were paying cash this would not a pro correct?

 

[chalee94]

Charles -- regarding your last couple paragraphs-- if you were paying cash this would not a pro correct?

if you pay extra to buy direct, you get access to your pts faster (usually just about immediately). DVC will usually make an effort to access their inventory if you need a reservation that would otherwise be sold out (first reservation perk only). DVC will also cheerfully bank pts that would otherwise be past the banking window (say, if you buy a sept UY in july/august - at initial time of purchase only).

most of these are one-time deals that are a possibility right when you buy. i was trying to be complete but really, direct pricing is awfully high to me. but if you can afford it, there are a few perks (no difference whether you finance or pay cash).

and of course, by paying more to buy direct, it's easy to get a loan from disney to pay an extra 10-15% on your timeshare purchase.)

while financing is pretty easy and it does give us (in the u.s.a.) a small tax break on the interest, i really don't recommend financing a luxury purchase whose value is definitely headed to zero. financing also increases the cost and makes DVC take longer to break even (especially at higher interest rates in a generally low interest rate environment).

paying cash is a much better way to go, yes.