Results of buying Stripped BWV Contract

[BuzzLightYear3]

Hi all.....just thought I'd let everyone know what ended up happening with our resale purchase as a month or so ago I had posted questions asking what a reasonable price would be for a 220 point BWV contract. Points were essentially stripped until April 2004.

The Timeshare Store indicated Disney won't let contracts go through for less than $62/point, so we offered $62 point with the condition that seller pays closing and all maintenance until 2004. Offer was accepted. We've sent in our final check and are awaiting final word.

Reality is that we didn't need the points until 2004 as we already have our 2003 ressies. We wanted to make sure we had the points in hand before July 2003 though so we could make our 2004 Ressies 11 months out. Seems like this is going to work out great and we feel like we got a great price.

Again, just wanted to share the experience for other resale shoppers. Thanks to all for the help along the way!

 

[EROS]

CONGRATULATIONS...... .....you're going to love BWV .....

 

[Granny]

Buzz...the main thing is that you got what you wanted and you're happy with it. I know that we could have kept shopping for our BWV resale, but we were very happy with the contract we bought.

Congratulations!

 

[Doctor P]

Congratulations!

 

[chaoskids]

Congratulations!

 

[Dean]

Originally posted by BuzzLightYear3
We've sent in our final check and are awaiting final word.

I assume that means DVC said ok to the resale as they don't usually ask you for the final payment until they've done so. Good work and enjoy.

 

[JimC]

Well Done and Welcome Home!

 

[Simba's Mom]

Thanks for the information. We've bought only through Disney, but are now considering a resale. I didn't know you could make a counter offer that closing costs and maintenance fees are paid by the seller (for a certain period of time). That's interesting!

 

[joepoe]

We bought an OKW resale in early 2002 through Shontell/Tom Crawford at the Timeshare store. We closed a little after Shontell left and the transaction was still handled perfectly. We think resale is the way to go. Our original contract that we bought through Celeste at DVC was BWV in 1998 at $63 a point! So those of you who think $84 is a lot, wait til it reaches 100. LOL

Good point on resales regarding whether the contract is "stripped" or not. If there are no points for the current year, the price per point should be about $5? less than one that doesn't have current points. Everything is negotiable. Our OKW deal was at 58 a point in early 2002 and it had all the points. Prices continue to rise with demand.

 

[Zurg]

Sounds like a good deal to me but don't tell Zurgswife of she will start shopping for more points

 

[psimon]

Originally posted by BuzzLightYear3

The Timeshare Store indicated Disney won't let contracts go through for less than $62/point, so we offered $62 point with the condition that seller pays closing and all maintenance until 2004. Offer was accepted.

Interesting... I saw on one of the boards that there was a small package going for $58/point. Are you suggesting Disney will kill it?

Better yet, lets say, for example that the points are at OKW, where they are already sold out. As I understand it, Disney buys back the points if the price is too low. What do they do with those points, especially if the location is sold out? Do those points essentially vaporize? If not, how do they get back on the market?

Paul

 

[JohnnyII]

I believe it works like this...

Disney has a wiating list for additional points at each "closed" resort . So if Disney thinks a resale contract is being sold too low, they just buy it back at the agreed price and then can sell it to the top name on the waiting list for that use year for $84 per point. I believe they would have to wait until all the points are current before releasing it for sale to the wait list.

John