Resale help

[JennyT2]

First of all, thank you to everyone to answering my questions and pm-ing me. The dis is awesome! I have spent the last day reading the dvc boards and have learned so much.

I thought I was pretty close to buying akl with Disney BUT now that I have read here about resale and had my accountant recommend I go resale I am starting to look in that direction.

If I am understanding correctly, at this time, if we buy resale we can use all the Disney resorts ....including vb and hh and the 500 rci BUT NOT dcl or adventurers by Disney and that one other one I can't remember the name. Is this correct?

When looking, I should pay attention to points used and banked. Now I read somewhere on this board about checking if there is a loan against the points .... Why? This would get paid by the owner when it closes or am I missing something?

Any other tips? I am looking at blt or akl on The Timeshare Store. Thanks you guys are great!

 

[CarolMN]

First of all, thank you to everyone to answering my questions and pm-ing me. The dis is awesome! I have spent the last day reading the dvc boards and have learned so much.

I thought I was pretty close to buying akl with Disney BUT now that I have read here about resale and had my accountant recommend I go resale I am starting to look in that direction.

If I am understanding correctly, at this time, if we buy resale we can use all the Disney resorts ....including vb and hh and the 500 rci BUT NOT dcl or adventurers by Disney and that one other one I can't remember the name. Is this correct?

If you buy resale, you can use those points to stay at all of the DVC resorts (subject to booking windows and availability, of course), and you may take advantage of the exchanges available through RCI and Lake Buena Vista Trading Company.

Resale contracts submitted for ROFR after 3/20/11 may not be used for anything in the Adventurer's Collection, the Concierge Collection and the Disney Collection. The Disney Collection includes the Disney Cruise Line and all of the non-DVC WDW & DisneyLand resorts. It also includes the resorts associated with EuroDisney.

When looking, I should pay attention to points used and banked. Now I read somewhere on this board about checking if there is a loan against the points .... Why? This would get paid by the owner when it closes or am I missing something?

Yes, banked points make a contract more valuable to you (if you can use them before they expire), just as borrowed points make it less valuable. Any current year points that have been used also make the contract less valuable.

If there is a loan against the contract, it will have to be paid in full at closing. If the seller is "upside down", it may be a problem and take longer to close or the deal may fall through. It's just helpful info to know so that you are not surprised if there is a problem. It's also helpful to know if there is a divorce involved or if there is an estate involved. Those also tend to take longer to close. Again, just good to know info so that your expectations aren't unreasonable. Your broker should be able to provide you with all of that information, but you may have to ask. If you are in a hurry to close, then perhaps those types of contracts are not good choices for you .

Any other tips? I am looking at blt or akl on The Timeshare Store. Thanks you guys are great!

Continue to read all you can and ask questions as they occur to you. This is a big purchase for many and should not be rushed. The more you know, the more likely you are to make good decisions and to be happy with your purchase.

Good luck!

 

[dbs1228]

There are other resellers out there also, make sure you check them all out. I love TSS and I do think they are the best to work with but sometimes there are contracts that better fit your needs from the other 2 big resellers. Good luck, do the math!

 

[JennyT2]

Thank you both ver much! My head is just spinning! I have a very stupid question - example .... Say it is May and I have no points coming until august .... Can u still book a resort for say November bc dvc knows you will have the pts at that time?

 

[chalee94]

Thank you both ver much! My head is just spinning! I have a very stupid question - example .... Say it is May and I have no points coming until august .... Can u still book a resort for say November bc dvc knows you will have the pts at that time?

yes, use year month has nothing to do with when you can call to book. you could have called at 11 months out (last december) to book a nov reservation.

if i have an oct UY and have used up all my pts in my 2011 and 2012 use years (and won't "get" any more pts until oct 2013), i can still call at 11 months out to book my home resort...say, by calling as early as nov 2011 to book an oct 2012 reservation with borrowed pts from my oct 2013 use year... as long as i have access to banked/current (at the time of the reservation)/borrowed pts for the use year in which the stay occurs.

more info about understanding use year is here:

http://www.disboards.com/showthread.php?t=1942668

 

[DVCconvert]

example .... Say it is May and I have no points coming until august .... Can u still book a resort for say November bc dvc knows you will have the pts at that time?

yes -of course when you get you next allocation of points will depend on your UY.

HTH

 

[JennyT2]

Charles .... Thank you so veer much for that link! Wow, awesome information!!!!! Back to the resale websites now............

 

[Kidanifan08]

I'm glad you found out about resales and that the time frame for making a resale purchase will work for you. I wish I had known about resale when we made our initial purchase. Although, at the time we bought in, I am not sure there as much of a divide between direct and resale prices as there is now.

Just remember to buy where you would want to stay. This is a very long term purchase and as others have said, the rules can change. It can be very tempting to buy an OKW or SSR resale at rock bottom prices with hopes to stay at BLT, but it may not always be an easy option and you may be stuck at your home resort, so you better LOVE it. Don't forget that the contract expire in different years, so that has an impact on the resale price.

Good luck in your search. We have never had any regrets about becoming DVC members!! We have done two add-ons since we joined the club -- a result of the highly contageous (and almost incurable) addonitis!!