The LONG resale road -- I finally made it!

[epicureangirl]

Wow, ownership has been a long time coming, but I feel like the resale road was worth the wait. With the savings, I can probably enjoy another holiday, or at least have it cover my family's airfare to Florida on our visit 'home'.

Here is my timeline and contract details:

150 BCV (Apr) $88, 150 banked '07 pts, 136 '08 pts, buyer pays closing. I had 15 additional current points available (10 I won't be able to use or transfer), 5 of which I was able to bank into '08.

Sept 4th -Saw the contract online and sent an email to GMAC.
Sept 5th -Made an offer on and it was accepted.
Sept 6th - Recieved Contract.
Long delay on sellers part in getting the contract back....
Sept 21st - Went to Disney's for ROFR.
October 2nd - Was notified that Disney wanted a change to the contract, GMAC sent me an addendum that needed to be signed and sent back.
October 8th - Contract went back to Disney for ROFR.
October 18th - Notified that ROFR waived!
November 13th - Closing documents have FINALLY been prepared.
December 6th - We finally closed!
December 12th - Called Disney and we were already in their system, got my online info set up and away we go!

What a rollercoaster!

Thank you everyone for your advice. With your help I made a great decision and made it through!

 

[wildernessDad]

Welcome to the 'club!'

 

[DVC Mike]

Glad you finally made it!

It can sure take time using the resales road (which is why I've always purchased direct from DVC), although you have saved some $$$.

 

[Donald is #1]

Congratulations!

 

[JimMIA]

That's a long time, obviously with some glitches along the way. Resale is not usually THAT slow...

However, you are now IN!

Congratulations and Welcome Home!

 

[bblanch]

Congrats!


At least you got a great deal on that contract.

 

[disneynutz]

HOME!

 

[mikeandkarla]

Wow! Thats about twicw the amount of time a resale normally takes. Bottom line is that if your happy with the deal, then it's a good one. WELCOME HOME.

p.s. - I think you got a great deal. I'm surprised DVC let this one slip through ROFR.

 

[epicureangirl]

Wow! Thats about twicw the amount of time a resale normally takes. Bottom line is that if your happy with the deal, then it's a good one. WELCOME HOME.

p.s. - I think you got a great deal. I'm surprised DVC let this one slip through ROFR.

Thank you, I'm glad to BE home!

I agree that my resale took much longer than was 'normal' on here. I think the sellers dragged their heels a bit in signing the paperwork (they went away on vacation before signing), and the closing company dragged too. I had been in frequent contact with GMAC (who had always been very responsive), and asked them to 'put a fire under' the closing company after some weeks had passed. With Disney asking for an amendment to the contract to include the status of 15 points, that dragged too. I honestly thought Disney might be picking on this small omission and slowing things down so they could buy more time on ROFR. As it was, they did let it through -- I had seen at least one other contract for Beach Club get through at $88 and an older one at $86 (I believe?), but I wasn't willing to push my luck that far. I thought I did well on the price, as at the time, TSS was listing Beach Club as high as $95/point... things have leveled off a bit though, so I'm sure there will be some more contracts getting through at $88.

I'm really glad I wasn't in a rush to make reservations, I still have about a month left before trying to book at the 11 month window.

 

[bblanch]

Thank you, I'm glad to BE home!

I thought I did well on the price, as at the time, TSS was listing Beach Club as high as $95/point... things have leveled off a bit though, so I'm sure there will be some more contracts getting through at $88.

I'm really glad I wasn't in a rush to make reservations, I still have about a month left before trying to book at the 11 month window.

I also got a 150 pt. for $88. It was listed at $85/point and like you I noticed that the ROFR cutoff seemed to be in the 86-88 range. I didn't want to risk it, so I offered the 88. It was still a better price than any other 150 point BCV contracts I inquired about. I noticed as well while shopping that TSS listings were mostly higher than some other resellers. Even made offers on a couple there without any luck. Nothing against any particular reseller, and I realize that the asking price is ultimately up to the seller, but I think others need to be aware that you can shop around.

 

[rinkwide]

...I'm surprised DVC let this one slip through ROFR.

It wasn't worth the hassle of having to deal with GMAC.

 

[dianeschlicht]

CONGRATULATIONS & WELCOME HOME!

I think Rinkwide is right on this one!

 

[epicureangirl]

It wasn't worth the hassle of having to deal with GMAC.

I knew that others have had problems with GMAC before buying, but I had shopped around and this is the contract I wanted -- it had lots of points ready to go at a good price. Certainly if TSS had the same contract at the same price, I may have gone with them based on some very positive feedback from others, but I didn't think their great service would be worth $7 a point. I actually thought they (TSS) may have been somewhat responsible for Beach Club selling at an inflated price... it was really hard for me to justify the price difference between the Boardwalk and Beach Club, but at $88 I went for it.

Rachel Thompson was my agent, and I have nothing but great things to say about her. I emailed or called her pretty much every week, making sure I knew where everything was at in the process, and it was usually within minutes of my email that she called me. I couldn't have asked for someone more pleasant and responsive. Truthfully, I may have been 'testing her' a bit BECAUSE of some of the poor feedback on GMAC. I wanted to make sure they stayed on top of everything and that they earned their $$$!

 

[kapeman]

That's a long time, obviously with some glitches along the way. Resale is not usually THAT slow...

We started on Sept 27, closed Dec 3rd and were in the system on Dec 6th.

And this was with only 7 calendar days waiting for ROFR.

There was one minor holdup with paper work from the sellers, but that was fairly short.

I had heard that Disney is swamped now and the estoppels may be the holdup.

 

[BWV Dreamin]

It wasn't worth the hassle of having to deal with GMAC.

Right on Rinkwide!! I got that same song and dance back in June. As I have stated in a previous post, buyers beware when dealing with GMAC. The few dollars you might have saved going thru them is not worth the aggravation.

 

[nunzia]

I knew that others have had problems with GMAC before buying, but I had shopped around and this is the contract I wanted -- it had lots of points ready to go at a good price. Certainly if TSS had the same contract at the same price, I may have gone with them based on some very positive feedback from others, but I didn't think their great service would be worth $7 a point. I actually thought they (TSS) may have been somewhat responsible for Beach Club selling at an inflated price... it was really hard for me to justify the price difference between the Boardwalk and Beach Club, but at $88 I went for it.

Rachel Thompson was my agent, and I have nothing but great things to say about her. I emailed or called her pretty much every week, making sure I knew where everything was at in the process, and it was usually within minutes of my email that she called me. I couldn't have asked for someone more pleasant and responsive. Truthfully, I may have been 'testing her' a bit BECAUSE of some of the poor feedback on GMAC. I wanted to make sure they stayed on top of everything and that they earned their $$$!

I have to say, that GMAC has been very prompt and had great communication with me. I am in the closing stages, and that is going through the closing company, (Timeshare Title and More). I began all this about Halloween. Jackie was my initial agent and Rachel seemed to take over after ROFR. I thought my purchase price was decent after looking around. (78 a point for OKW, no extension). My only gripe was high closing costs, but part of that is in relation to the low number of points purchased. So, so far I have not had one single irritation or problem with GMAC. However, I will buy from Disney from now on to save on the closing costs, and to get my same use year, etc.