Resale > Direct from Disney?

[roomthreeseventeen]

Aside from losing a few years on the contract, is there any reason to buy from Disney rather than DVC resale?

 

[vicki_c]

I would say only if you want a particular resort/use year that is not available on the commercial resale market. Other than that, as things currently stand, I can't see any reason you would do that - you would pay considerably more to do that as well.

PS -I'm not sure what your years on the contract comment means - you wouldn't get more years buying a "reclaimed" (that seems a more accurate term to me) DVC from Disney- the resort's contract still ends when it ends.

 

[LisaS]

The end dates on the contracts are fixed, they don't change based on whether you purchase from Disney or on the resale market. For example, all AKV contracts will expire on exactly the same date: Jan 31, 2057 no matter how you purchase them. All SSR contracts expire on Jan 31, 2054. BCV, BWV, VWL, HHI, and VB contracts expire on Jan 31, 2042.

The only exception (sort of) is that all OKW contracts purchased directly from Disney expire on Jan 31, 2057 but those on the resale market expire either on Jan 31, 2042 or Jan 31, 2057 depending upon whether a previous owner paid for the optional contract extension that was offered a couple of years ago.

 

[roomthreeseventeen]

The end dates on the contracts are fixed, they don't change based on whether you purchase from Disney or on the resale market. For example, all AKV contracts will expire on exactly the same date: Jan 31, 2057 no matter how you purchase them. All SSR contracts expire on Jan 31, 2054. BCV, BWV, VWL, HHI, and VB contracts expire on Jan 31, 2042.

The only exception (sort of) is that all OKW contracts purchased directly from Disney expire on Jan 31, 2057 but those on the resale market expire either on Jan 31, 2042 or Jan 31, 2057 depending upon whether a previous owner paid for the optional contract extension that was offered a couple of years ago.

So if you buy an AKV contract now from Disney, you only get 46 years, as opposed to a 50 year contract 4 years ago?

 

[LisaS]

So if you buy an AKV contract now from Disney, you only get 46 years, as opposed to a 50 year contract 4 years ago?

Yes.

 

[roomthreeseventeen]

Yes.

Bizarre.

 

[JimMIA]

So if you buy an AKV contract now from Disney, you only get 46 years, as opposed to a 50 year contract 4 years ago?

Yes -- no matter who you buy it from.

The two big differences between buying direct are price and time.

With resale, you should save at least 10%, and probably more like 20-50% depending on which resort you purchase. However, plan on 6-8 weeks from start to finish. For a 40+ year vacation timeshare, that's a minimal amount of delay.

 

[roomthreeseventeen]

Yes -- no matter who you buy it from.

The two big differences between buying direct are price and time.

With resale, you should save at least 10%, and probably more like 20-50% depending on which resort you purchase. However, plan on 6-8 weeks from start to finish. For a 40+ year vacation timeshare, that's a minimal amount of delay.

Why does it take so long?

 

[crisi]

Why does it take so long?

Its a real estate closing process - and usually the parties are in different states. Disney also gets involved - they get to exercise Right of First Refusal - if they think the contract price is too low, they swoop in and buy it. They get 30 days (IIRC) to evaluate it and decide. Mail goes back and forth, things need to get notorized. Documents are forgotten by the seller, who lives in New Jersey and just went on a week long business trip.

A resale just takes time. It sometimes takes a few days for you to even find out if your offer was accepted.

 

[krikiter]

Why does it take so long?

Because there's the added steps of the offer being made, then accepted, then sent to Disney for ROFR, then getting signed documents from the buyer and signed/notarized for the seller(s). Finally the transaction is closed and it takes a week or so for Disney to get you "into the system" and get your points allocated. I just bought my first contract, and even the with complication of 5 sellers spread across 3 states, it was still done in less than 8 weeks. For the money you save, it's worth the wait.

 

[roomthreeseventeen]

Because there's the added steps of the offer being made, then accepted, then sent to Disney for ROFR, then getting signed documents from the buyer and signed/notarized for the seller(s). Finally the transaction is closed and it takes a week or so for Disney to get you "into the system" and get your points allocated. I just bought my first contract, and even the with complication of 5 sellers spread across 3 states, it was still done in less than 8 weeks. For the money you save, it's worth the wait.

Thanks. Wow, 5 sellers? Did you need a ton of points?

 

[crisi]

Thanks. Wow, 5 sellers? Did you need a ton of points?

My guess is they found one contract that was owned by five people. The first resale contract I made an offer on was owned by three people - it fell through since one person decided they didn't want to sell. Some people split one contract between family and friends. (And then, for some reason, it doesn't work out and they need to sell it )

 

[krikiter]

Thanks. Wow, 5 sellers? Did you need a ton of points?

No, it was a modest contract (220 points) but evidently the original purchasers divorced a few years back and there was a quit-claim deed to transfer the contract to the ex-wife and a handful of other family members (children or grand-children maybe?). Thankfully, they all agreed that they'd rather have money than a DVC membership that none of them seemed to be using.

 

[roomthreeseventeen]

No, it was a modest contract (220 points) but evidently the original purchasers divorced a few years back and there was a quit-claim deed to transfer the contract to the ex-wife and a handful of other family members (children or grand-children maybe?)

Oh, boy. That sounds fun.

220 is a lot of points! Congrats!

 

[LisaS]

As stated, with resale Disney has Right of First Refusal so your contract has to go to them for review. Disney has up to 30 days to make a decision. However, based on information we track here and info being tracked on the Orange County Comptrollers site (where deeds are recorded) Disney hasn't exercised ROFR very often lately. Since January 2010 about the only thing Disney buys back are BCV and BLT contracts. You still have to go through the process but it seems to be just a formality these days.

 

[krikiter]

Oh, boy. That sounds fun.

220 is a lot of points! Congrats!

Thanks, it's been a blast; wish I would have bought sooner...