Seller backed out after almost 3 months of waiting. :(

[davidl81]

I am so sorry this happened to you and I totally understand if you want to go direct now. I know many will say the savings of resale are worth the stress and time. But for some the savings aren't worth the stress and time. For some, the ease of going direct are worth thousands more. I hope however you proceed brings you joy.

Deb

Good points Deb. The reality is on here I would bet there is a vast array of income levels and relative value of money etc. It's sort of a crude way of me to say $5,000 to me may be totally more valuable than $5,000 to you or someone else. And to someone who has just spent 5 months waiting on a resale contract the idea of waiting another potential 5 months to save some money may not be as big of a deal. Not saying that anyone likes to waste money, just some people have different tolerance levels, and that is okay.

 

[Sandisw]

Thank you. I appreciate that. After discussing with my husband tonight, we have decided to call our sales rep at DVC and see what they can do. Wel’ll have to probably finance some with direct prices, but we can put a good chunk down when I get my refund back from the title company. I also have a zero percent credit card I can use for part of it. We’ll make it work. I don’t think resale is for me. The whole idea of sending so much money sight unseen and not having any guarantees I am getting what I am paying for after waiting ...not going to ever happen again.

Do you have a Disney Visa? That gives you 6 months 0 % interest and DVD will allow you to spread out the payments up to 90 days so it’s like getting 9 months interest free!

People here have done small amounts for the first few, and then the bulk at the end!

 

[princesslover]

Do you have a Disney Visa? That gives you 6 months 0 % interest and DVD will allow you to spread out the payments up to 90 days so it’s like getting 9 months interest free!

People here have done small amounts for the first few, and then the bulk at the end!

I have a Disney visa but it’s not the one with the annual fee. Not sure if that makes a difference.

I just got a Citibank 0% for 18 months to pay for some dental work. I can use that and spread out the payments. I may only end up needing to finance 3-4K with Disney which I will pay off first.

 

[DebLovesPooh]

Both Disney Visa cards will give you 0% for 6 months. Maybe you can split it up betweem your Disney Visa and your Citibank so you're financing as little as possible.

 

[Sandisw]

I have a Disney visa but it’s not the one with the annual fee. Not sure if that makes a difference.

I just got a Citibank 0% for 18 months to pay for some dental work. I can use that and spread out the payments. I may only end up needing to finance 3-4K with Disney which I will pay off first.

I just have the regular one and it doesn’t make a difference. But, sounds like you have a few options!

 

[starry_solo]

Thank you. I appreciate that. After discussing with my husband tonight, we have decided to call our sales rep at DVC and see what they can do. Wel’ll have to probably finance some with direct prices, but we can put a good chunk down when I get my refund back from the title company. I also have a zero percent credit card I can use for part of it. We’ll make it work. I don’t think resale is for me. The whole idea of sending so much money sight unseen and not having any guarantees I am getting what I am paying for after waiting ...not going to ever happen again.

See if the DVC guide can also make a welcome home reservation that you are looking for this December!

 

[starry_solo]

See if the DVC guide can also make a welcome home reservation that you are looking for this December!

like perhaps make it a condition? If you get the 2020 and 2021 use year points it might work!

 

[Sandisw]

like perhaps make it a condition? If you get the 2020 and 2021 use year points it might work!

They will only do that for new buyers, not for current owners. Also, that booking window doesn’t even open until January 2022 so anyone now would be able to book on their own, especially since they already own and know how to book.

The Welcome home visit is to help those new who have never done it.

 

[dvc lover 1970]

I don’t have a year. I started this process in February. I need to make reservations by December and our plan has always been to book a two bedroom for this trip. The fact that I started in February and it is now June and am no further ahead is more than a little discouraging. I know this opinion is not popular here but this process is in no way worth it with the increased restrictions and now increased prices on top of that. No thanks.

IF you are trying to book this December, then I would opt for direct, and request help booking your room with your guide prior to purchase. Everything is tight this year due to built up covid points.

 

[808blessing]

How much does it typically cost a seller to close? Curious.

 

[4luv2cdisney]

Do you have a Disney Visa? That gives you 6 months 0 % interest and DVD will allow you to spread out the payments up to 90 days so it’s like getting 9 months interest free!

People here have done small amounts for the first few, and then the bulk at the end!

I'm hoping to do this tomorrow for a small purchase. I do feel like my guide isn't as "easy" with some things as others. I basically just want to do deposit now, 1/2 of bal in 2 1/2 weeks (new cycle) and then final 1 month later. (Total of 7 week spread) Hopefully, it's not a problem with a small purchase. I think that gives me until Jan or Feb to pay off completely. I have the funds ,but I like to torture myself and see how much I can stretch the monthly budget without touching money in the bank.

 

[Sandisw]

I'm hoping to do this tomorrow for a small purchase. I do feel like my guide isn't as "easy" with some things as others. I basically just want to do deposit now, 1/2 of bal in 2 1/2 weeks (new cycle) and then final 1 month later. (Total of 7 week spread) Hopefully, it's not a problem with a small purchase. I think that gives me until Jan or Feb to pay off completely. I have the funds ,but I like to torture myself and see how much I can stretch the monthly budget without touching money in the bank.

I have done big and small so it should not be an issue!!

 

[KAT4DISNEY]

How much does it typically cost a seller to close? Curious.

It just depends if they have a mortgage. If so then the balance needs to be paid off as well as the commission to the broker. If no mortgage then the escrow agent would pay the broker and send the remainder of funds from the sale to the seller. This seller would have been under water - they could sell their contract for less than they owed on the mortgage and the cost of selling the contract. In that case then they need to pay in to settle up instead of receiving a check for selling.

 

[DonMacGregor]

I totally appreciate the frustration and agree that it’s not the buyer’s problem that the seller has “issues” I’d probably be busy right now looking for my pound of flesh.

What I don’t understand, and I’m really asking to learn, is what the hurry is if your booking window doesn’t even open for another 6 months. Were you looking to close now, so you could bank 2021 points for a 2022 trip?

I also absolutely understand not wanting to be rushed, but starting a resale purchase in February, for a booking you can’t even make until December, is some serious caution. Again, just asking to learn.

 

[Drewski77]

I am so sorry this happened to you and I totally understand if you want to go direct now. I know many will say the savings of resale are worth the stress and time. But for some the savings aren't worth the stress and time. For some, the ease of going direct are worth thousands more. I hope however you proceed brings you joy.

Deb

I definitely agree that there are tradeoffs of going resale versus direct and these tradeoffs are not worth the savings for many.

However, it is a bit ironic that the whole idea of DVC is to save money on future vacations with significant tradeoffs for these future savings:

Tying up thousands of dollars, having to plan up to 11 months in advance, yearly dues, potential for points to go unused, all for a payoff that can take many years to realize.

As an owner it is worth it to me, but again, it is a bit ironic that many lament the hassles of resale which sole purpose is to save money over direct...and yet these same people are fine with all the additional hassles of ownership versus booking directly with Disney...for the sole purpose of saving money.

Just an observation of a happy DVC owner, no judgement.

 

[princesslover]

I totally appreciate the frustration and agree that it’s not the buyer’s problem that the seller has “issues” I’d probably be busy right now looking for my pound of flesh.

What I don’t understand, and I’m really asking to learn, is what the hurry is if your booking window doesn’t even open for another 6 months. Were you looking to close now, so you could bank 2021 points for a 2022 trip?

I also absolutely understand not wanting to be rushed, but starting a resale purchase in February, for a booking you can’t even make until December, is some serious caution. Again, just asking to learn.

I started in February because I was looking for a certain number of points, at a specific resort, with a specific UY. While I don’t think I was necessarily looking for a unicorn, you just never know how long it may take to find exactly what you need, then to agree on a price. Can you imagine if I had started now, waited 3 months, the seller bails, and I am starting over in October? It’s been almost two weeks since this happened and I’ve been scouring multiple sites and nothing is coming up right now because of the demand. Who knows, in this market. how long it would take.

 

[princesslover]

IF you are trying to book this December, then I would opt for direct, and request help booking your room with your guide prior to purchase. Everything is tight this year due to built up covid points.

I need only to book this December for an 11/22 trip.

 

[4luv2cdisney]

I definitely agree that there are tradeoffs of going resale versus direct and these tradeoffs are not worth the savings for many.

However, it is a bit ironic that the whole idea of DVC is to save money on future vacations with significant tradeoffs for these future savings:

Tying up thousands of dollars, having to plan up to 11 months in advance, yearly dues, potential for points to go unused, all for a payoff that can take many years to realize.

As an owner it is worth it to me, but again, it is a bit ironic that many lament the hassles of resale which sole purpose is to save money over direct...and yet these same people are fine with all the additional hassles of ownership versus booking directly with Disney...for the sole purpose of saving money.

Just an observation of a happy DVC owner, no judgement.

I actually think it makes a lot of sense. Some people are happy with the "automatic discount" DVC can provide even with a direct purchase. I'm sure you can find lots of old comments about how people were tired of hunting for the deals and discounts, so they bought DVC.
I remember the hassle / frustration of trying to score a "pin code" for a regular room discount or offer. There were multiple threads and hundreds of pages of this stuff. Maybe it still exists. I wouldn't know! lol

So, buying resale seems the equivalent. Some people will enjoy the hunt. Others will tire of it.

My initial DVC purchase was probably the equal to some peoples single Deluxe vacation, so I never felt like I was tying up thousands. I splurged on a big trip! lol Dues are way less than a room every year and I get a payment plan. Just depends on how you view it, I guess.

I don't see a lot of other trade-offs, though I am stuck with some points (thanks to the pandemic) and I've found I really don't like the idea of renting my points. Just listed my reservation after procrastinating forever. But, I came to the conclusion that I will deposit into RCI if it doesn't rent and I just really don't care. I don't foresee that happening often as we are "buying as we go" as opposed to over-buying.

ETA:
Actually, I do miss the easier booking / rebooking for cash reservations and prefer the cancellation policy.

 

[Drewski77]

I need only to book this December for an 11/22 trip.

If you are potentially willing to pay far more for direct for a trip that is so far out:

Why not be willing to pay the rack rate with Disney while you wait for the contract you are looking for to come up?

If the contract comes up in time then you pull the trigger and never need to book the cash room with Disney, and if it doesn’t then you have a cash reservation to use.

Just another option aside from potentially going direct too quickly.

 

[Drewski77]

I actually think it makes a lot of sense. Some people are happy with the "automatic discount" DVC can provide even with a direct purchase. I'm sure you can find lots of old comments about how people were tired of hunting for the deals and discounts, so they bought DVC.
I remember the hassle / frustration of trying to score a "pin code" for a regular room discount or offer. There were multiple threads and hundreds of pages of this stuff. Maybe it still exists. I wouldn't know! lol

So, buying resale seems the equivalent. Some people will enjoy the hunt. Others will tire of it.

My initial DVC purchase was probably the equal to some peoples single Deluxe vacation, so I never felt like I was tying up thousands. I splurged on a big trip! lol Dues are way less than a room every year and I get a payment plan. Just depends on how you view it, I guess.

I don't see a lot of other trade-offs, though I am stuck with some points (thanks to the pandemic) and I've found I really don't like the idea of renting my points. Just listed my reservation after procrastinating forever. But, I came to the conclusion that I will deposit into RCI if it doesn't rent and I just really don't care. I don't foresee that happening often as we are "buying as we go" as opposed to over-buying.

Obviously DVC is a great option for many, myself included.

However, even as a happy DVC owner I certainly recognize that it takes a lot to realize the savings I get over the ease (yet extra expense) of booking directly with Disney.

And even if you bought years ago at far lower prices, you are tying up the same as a resale buyer is today, because if you sold you would get back far more than you paid...not that I’m saying you should sell.

Perhaps you’ve found no hassles and savings with DVC which is fantastic, but not what I think is the norm.