resales or ssr

[ticketwm35]

We are thinking about buying into dvc.I have been looking at the resales at okw.We would buy 150 points. Not sure whats involved in buying a resale.Is it the same as buying directly from disney or is there more paperwork involved in it.

Ticketwm35

 

[bobbiwoz]

Hi, Kettering OH, we're just down 48! We bought direct from Disney last year and a resale this year.

Direct from Disney is easier, you can finance with Disney, you'll be buying SSR which lasts as a time share until 2054(?) the other DVC contracts last until 2042. You do not pay closing costs, there is no negotiation of price, but you do get a discount if you don't take this year's points. That's called Magical Beginnings and I don't know what the discount is.

Resale from a broker like the sponsor of this forum is also easy. You can contact them, or look at the offerings and make a bid. Everything, price, maintenance fees, closing costs are all negotiable. You and the seller agree, down payment is received and then the contract goes to disney for Right of First Refusal (ROFR). If Disney thinks the contract is too low of a price, they will buy it from the seller, and you are out of the loop. You may want to ask your broker to try to get you another chance to bid immediately after this happens. Someone recently did just that, upped the offering price and Disney let the sale go to the buyer.

Lots of people here own and love OKW, so you'll have lots more help soon, I'm sure.

Bobbi

 

[gtrist4life]

Hey "neighbors" We're just up 48 and to the right in Miami County; at least for two more weeks, then we move to MO.

Anyway, we bought direct from Disney last year when they had some BWV points available. We financed and Disney made it easier. The interest rate's a bit high, but we're planning to pay it off soon.

I'd go with choosing the place you want to stay the most, then if you can finance it yourself, resale will save you money....if Disney doesn't buy the points from the seller. They have right of first refusal and do so to keep some control over inventory of points and pricing.

Peace,
G4L

 

[KristiKelly]

Dh & I have thought alot & looked into several different resales, in the end though, we've decided to go direct through Disney & buy into Saratoga. We are going to start out with 150 (I think) & add on in a couple of years.

 

[av8tor]

I posted the same quesion about 6 weeks ago when I was about ready to buy SSR from Disney. Based on the information I got off these boards I decided to go with a resale and now own 200 points at BCV. (same total cost as the 175 points we were going to buy at SSR)

IMHO here are the main issues

1. Cost
2. Easier to buy and finance with Disney (resales are still relatively easy)
3. SSR has 12 more years of ownership

The best advice I received, and what I strongly advocate, is to decide where you are most interested in staying and buy there. You can easily over anaylize this decision, I did. Remeber, buying DVC is a large investment, but it is not an investment for financial reward rather it is an investment in your families future vacations.

I would think twice about buying resale points from Disney at $84. There are alot of resales currently available, many with banked points.

 

[rinkwide]

The key is to buy where you want to say. That's quite important, despite what the DVC guides may tell you.

 

[stacy6552]

yes there is more paperwork. More time. more money than what you see at first glance. possibly more fustration, because you may jump through tons of hoops, wait patiently for a long time, only to find that you didnt get your purchase.

I'd only buy resale if you really really want to own at someplace other than SSR.

 

[ticketwm35]

So after I do all the paperwork.I might not get the property if disney buys it. What do they do with the properties they buy?Do they sell them to other people on a wait list or what? Do you think it cost more to buy a resale?

Ticketwm35

 

[av8tor]

Yes, the contracts that Disney buys at ROFR are resold to new or existing DVC members at the current price of $84. If you deal with a reputable resale broker such as the sponsors for these boards they should be able to advise you about what price it will take to pass ROFR. When we did our resale we didn't want to take any chances with loosing our contract at ROFR so I was willing to pay an extra couple of dollars per point as insurance. Still far cheaper than $84 per point from Disney to own where we wanted to spend the most time. I believe this is a poor option for all but small add ons. If you are truelly interested in SSR, buy there, otherwise find a resale at the resort you are interested and do that.