Resale or through Disney???

[alexandmolly]

Hello everyone,

We are considering buying a resale of points for Boardwalk or OKW.

Do you get all the benefits as you would get if you bought from Disney directly? (If you get any additional benefits?)

How well did the resale go?
Was the resale through the Timeshare store?

Any input would be greatly appreciated.
Thanks

 

[BostonDisneyKid]

If you purchase through a resale you will receive the full benefits as if you purchased direct from Disney. You will become the deed owner and treated as such. I purchased through a resale and the process takes a little while- 30-45 days. Resales have been averaging around $70/pt on the resale market as opposed to Disney at $90/pt (SSR purchase till 2050 - all others till 2042).

Hope that helps...

 

[rinkwide]

$90?

I wish, try $95.

 

[RuthnPaul]

Originally posted by alexandmolly
Any input would be greatly appreciated.

If I were you, I would do a search in this forum on the word "resales". You will get LOTS of hits providing you with a TON of information on the subject!

 

[Happy Birthday Cat]

Originally posted by alexandmolly

We are considering buying a resale of points for Boardwalk or OKW.
Do you get all the benefits as you would get if you bought from Disney directly? (If you get any additional benefits?)

The big benefit you don't get by buying resale is easy Disney financing. If you can line up your on financing through a home equity loan or a low credit card loan, then that isn't a big deal.

You are treated exactly the same by Disney though. I have points I bought as a resale and later added on to them from Disney. They are all treated the same.

HBC

 

[stacy6552]

we were unimprressed with Jerry at TSS. He was very clearly only interested in getting us to sign the contract. He want interested in getting us the contract, even though we asked questions about our offer. Once someone aigns the contract, its going to be bought either by Disney or that person. We also were left waiting 2 weeks after Disney took our contract before we forced the issue to know if it was ours or not.

 

[lacool]

We bought through atimeshare.com and found the process almost painless. I say almost because 6 weeks is a long time when you are waiting to make a reservation. We used a home equity loan, so that the interest is tax deductable. We have been treated wonderfully by MS and CMs at the resorts. As far as I can tell, it makes no difference to them when or how you bought in.

Good Luck!

 

[TinksDH]

We're currently in the process of buying a resale through the board sponsor. We had been talking about adding on for quite a while (actually added 50 points at VB in March!), and although we ultimately want to get some points at SSR, we also wanted to get some at HH as we expect to go there once a year or so outside the Summer months.

We found a listing we liked this past Wednesday and talked to them on Wednesday night. We then put an offer in on Thursday morning, had a counter offer and acceptance by Thursday late morning, and the paperwork faxed to us by Thursday afternoon. We signed it and just faxed it back this (Monday) morning. We'll FedEx the signed acceptance and a deposit today, get the official paperwork to sign soon, and close by the first week in August.

Granted, going through DVC IS faster and they have in-house financing, but we were looking for a specific property in a point quantity AND price that DVC currently doesn't have. Plus, we got 143 banked points in addition to the 150 coming up in August '04 to boot, so we think we did A-OK.

Fee free to PM or email me if you have any more questions.

 

[TinksDH]

Before you actually close on the resale, it must get sent to DVC for Right Of First Refusal (ROFR). Since Disney wants to keep the resale market price from going too low, they have the contractural privledge of reviewing every resale purchase to make sure that the market prices aren't going too low. So the trick is to make an offer that is good from your finanical perspective, but at the same time will pass DVC's ROFR.

I've seen posts on this board describing a situation where a potential resale buyer had made a great offer, the seller had accepted, but then DVC had exercised its ROFR option. I believe that you DO get a chance to counter offer, but I've seen folks lose their purchase.

 

[Par8hed]

I went resale. It was fast, painless, and cost-efficient. I saved considerable money this way. As far as I'm concerned the ONLY reason to purchase through Disney is if you absolutely need their financing. If cash is not an option, using funds from a tax-deductible home equity loan is an excellent alternative. Closing fees are minimal. In short- Resale-Resale-Resale.

 

[Morganpics]

We initially signed up to buy through Disney at SSR. Got home, gave it more thought, and cancelled. Then contacted the board sponsor, talked with Jason, within 2 weeks put down offer on 230 points/$68 per at OKW. This started 28 May, we are ready to close 28 June. Everything went very well, we have no complaints with anyone. Passed ROFR in 12 days.

 

[r3ngels]

When you buy resale do you offer less than what they are asking or is the price set???

 

[stacy6552]

Originally posted by TinksDH
I believe that you DO get a chance to counter offer, but I've seen folks lose their purchase.

Dont count on it. Disney excercised its ROFR and closed on our contract before we'd been contacted.

r3, yes you can offer less, but the lower you go, the more likely Disney is to snatch it up.

 

[Par8hed]

You need to tell the broker up front that you are willing to up your offer if needed to get arounf the ROFR.

 

[Deep-Thots]

We are in the process of buying resale through the board sponsor. I'd done a search on resales and ROFR, but couldn't figure out why sometimes, buyers got the chance to make a counter-offer, and other times, didn't seem to get that chance.

So, I spoke to Jason at TTS. He exaplained that once Disney exercises ROFR, most sellers just go ahead and accept it because they can close within one week (whereas for us, it will take a few weeks). (I guess the only title search DVC has to do in that case is just make sure the seller hasn't mortgaged the property.)

The convenience of getting $$ so quickly often outweighs the time required to seek a counter offer -- buy which time the prospective buyer may no longer be interested.

Anyway, that's what I was told.

 

[TinknBoys]

We just bought at BCV thru Disney at $84 per point. We just contacted our guide, told her what we were looking for. In about 2 1/2 weeks she called with our add on, we put the initial down payment on our Disney Visa, and she will charge the rest in our next billing cycle. Love those rewards. It was totally painless.