Thinking about buying but I have so many Q's

[TifffanyD]

Hi all!

This is my first time posting over here on the DVC boards, though I have lurked quite a bit and gathered some information. I am thinking about buying a resale from The Timeshare Store, but I wanted to make sure I understand how it works before I spend that much $.

So the one I am looking at has a use year of October and has points coming in October 2008. So if there are points currently available and I bank them... I will have those banked points as well as the normal ones coming in October 2008, right?

We are looking to honeymoon in December 2008. So if I buy this, then as soon as we close, I can make the reservation for December? I would bank the points and have 0 at that time to use but would be getting them in 10/08 for use in 12/08. Is this how it all works? Thanks for any help!

 

[chalee94]

you are completely correct.

if it has 80 pts currently available and 80 pts coming in oct 08, then you can bank the current pts and have 160 pts to book for dec 08. you can start booking dec 08 for your home resort (right now) in jan 08.

it will take a couple of months to close, though, so be aware of that.

 

[dianeschlicht]

Yes, you can book ASAP since we are well within the December 11 month booking window. The current points banked and the October points used together and any points additional needed can be borrowed from the 2009 use year for that trip as well. I hope you are buying at a larger resort, because some of the smaller ones may have some unit sizes already booked up for December dates. Good luck at passing ROFR and getting in ASAP!!

 

[RLRDA]

You are correct in what you said. However if you buy a resale it takes a few months to be in DVC's system...if you buy direct from Disney there's a 160 point minimum buy-in but you are in their system within days and can make your reservations quickly. December is a hot DVC month for booking. I'm assuming you want to start off with a small contract (less than 160)? Or a 'sold-out' resort??

 

[Mtnman44]

By the time you close on the contract, you may not be happy with availibility. December is a very popular time and it's possible that your first, second, and even third choice may be full by the time your contract closes and you are in the DVC system.

If getting this done in time for your upcoming trip is important. you may want to consider buying directly from DVC, depending on how many points you were trying to purchase. As stated, the minimum would be 160, but you can buy from any resort, not just the ones DVC is currently marketing. It's possible they may have some from the resort you want to buy, available immediately.

If you do buy from DVC, it may cost a little bit more, but you will get a lot of that back in much lower closing costs, plus you will be able to make reservations almost immediately after you put down your deposit.

 

[chalee94]

By the time you close on the contract, you may not be happy with availibility. December is a very popular time and it's possible that your first, second, and even third choice may be full by the time your contract closes and you are in the DVC system.

they'll still be within the home resort window, though, so their only choice would be their home resort. as long as they can still book 8-9 months out, they'll probably be fine...but it might depend on which resort and which type of room they are planning to get.

 

[RLRDA]

As stated, the minimum would be 160, but you can buy from any resort, not just the ones DVC is currently marketing. It's possible they may have some from the resort you want to buy, available immediately.

If you do buy from DVC, it may cost a little bit more, but you will get a lot of that back in much lower closing costs, plus you will be able to make reservations almost immediately after you put down your deposit.

The incentives that Disney offers are on the resorts that they're currently marketing ~~ SSR and AKV. $8 or $10 off per point and/or developer points have been past incentives although I don't know what the current incentives are. The length of the DVC contract is longer for SSR and AKV as well.

 

[TifffanyD]

Thank you for all the GREAT responses.

Yes, I am looking to buy at a "sold out" resort for less than 160 points. I pretty much have my heart set on either Boardwalk or Beach Club cause I love both the ambiance and location (walking to Epcot and DHS!) Also the availability of all of that extra entertainment and the restaurants within walking. Since beach club takes more points per stay and I heard how busy the pool is (because it is so awesome), I thought BW might be the way to go. Then we can always *try* to stay at BC once in awhile if we want.

And we are only looking for around 100 points... enough to go once a year or save up and go in bigger rooms every couple years. I want to pay cash and still have enough left for the wedding, so another reason why I don't want more points.

And as far as the availability of rooms at that resort - I have no idea if that is one of the bigger ones or not (I am thinking not). But if it is difficult (or impossible) to get into our resort for those dates we could deal with taking another resort. I heard that you can pretty much always get SOME DVC resort, just may not be the one you want. Is that true? Because I was looking at buying it now so that I didn't have to spend more on a hotel for the honeymoon, but if there is a chance we won't get a stay AT ALL then that would definitely influence my plans.

Also... the one I am looking at says it can close in April. So it would take a couple of months AFTER that to be in the system and be able to book?

We are pretty flexible with our dates but were thinking early in Dec (well before xmas)... that's a pretty busy time tho?

Once again thank you all for your wonderful answers - it is so much help!

 

[TifffanyD]

Oh and I have another question. I was reading about other people's experiences and I noticed mention of a deposit... if I send a deposit and then disney exercises their ROFR, do I get that back? Also, what is the approximate amount (or % or whatever) that the deposit is usually? I am interested in using the timeshare store

 

[chalee94]

Since beach club takes more points per stay and I heard how busy the pool is (because it is so awesome), I thought BW might be the way to go. Then we can always *try* to stay at BC once in awhile if we want.

if you're looking at BWV's "standard view" rooms, those would likely be booked for december very early on...and would likely be gone by 8-9 months out. sorry.

...if there is a chance we won't get a stay AT ALL then that would definitely influence my plans.

if you were able to book exactly at the 7 month window, you should have no trouble getting in somewhere (SSR and OKW are larger resorts) in early december.

Also... the one I am looking at says it can close in April. So it would take a couple of months AFTER that to be in the system and be able to book?

yeah, and if you're booking in jun/july for december, it gets a lot more iffy. nov/dec is very popular for DVC in general. christmas week is super-busy but even the first couple of weeks in dec will probably be risky by 5-6 months out, IMO. it's possible there will be availability but i don't know that i'd recommend waitlisting to get something for your honeymoon...

 

[chalee94]

Oh and I have another question. I was reading about other people's experiences and I noticed mention of a deposit... if I send a deposit and then disney exercises their ROFR, do I get that back? Also, what is the approximate amount (or % or whatever) that the deposit is usually? I am interested in using the timeshare store

my deposit was 10%. yes, you get it back if disney ROFRs the contracts.

 

[AKV707]

The availability question is a tough one. beginning of December is very popular with DVC members since the point requirements are low and the christmas decorations are in full force. I would say that you would most likely be able to get a reservation, but BWV and BCV wil be tougher. If you become a BWV owner, you will have the 11 month advantage. You just won't have that advantage this time around. As has been said, OKW and SSR, the largest DVC resorts, will be your best chances to get an early December reservation 5-6 months out. They are both great resorts, (OKW is my second fave after AKV) and i think that you would like either one. And remember, once you have a reservation, you can waitlist for BWV or any other DVC resort. I think that your first DVC stay would make a great honeymoon!

Good luck with all of the plans!

 

[TifffanyD]

Thanks all - once again!

I need a couple more days to decide anyways so I will watch to see if there is one that better fits my lifestyle. But otherwise I think this is going to work out ok. Like I said our dates are quite flexible and I was planning on coming back to work for a week or so after the wedding anyways so if I can either get SOMEWHERE that I will be happy with in December OR just wait and book jan/feb or such I think that will be fine. We've never stayed DVC (we stayed AKL last trip but that was our first non-value!) so anything will seem super nice to us, I'm sure. I'm alright with waiting a month or so to take the honeymoon (will give more time to save up vacation days!) and besides then we can do anniversary trips in December when we can book 11 months out with no problem.

I really do want to stick with a resale because we don't want/need 160 points (I'd like to commit to a trip every year or 2 but I don't want to feel too tied down that we can't go anywhere else).

I'm a little worried about the whole thing just because it's so new and it's a BIG chunk of change for us. But I will sleep on it and cross my fingers that it all works out!

 

[TifffanyD]

I called The Timeshare Store and they actually said with a closing date of 4/20 I would be in Disney's system by the end of April

That would be JUST before the 7 month deadline... so maybe I could still get something at BW or somewhere else RIGHT when 7 months hits... not too bad, right?? I'll talk about it tonight with DF and we'll work on deciding. Thanks for all the help!

 

[AKV707]

Keep us posted!

 

[Chellymouse]

The incentives that Disney offers are on the resorts that they're currently marketing ~~ SSR and AKV. $8 or $10 off per point and/or developer points have been past incentives although I don't know what the current incentives are. The length of the DVC contract is longer for SSR and AKV as well.

The current incentive is $8 off per point at AKV and $10 off at SSR. Also, if you buy in at 225 points, you receive 160 developer points, however, the developer points must be used (or lost) within 12 months. If you buy in at less than 225, then you receive 100 developer points (if purchased in Jan. or by Feb. 18) This offer is only good until 2/18/08.

 

[Mickey'sApprentice]

Thank you for all the GREAT responses.

Yes, I am looking to buy at a "sold out" resort for less than 160 points. I pretty much have my heart set on either Boardwalk or Beach Club cause I love both the ambiance and location (walking to Epcot and DHS!) Also the availability of all of that extra entertainment and the restaurants within walking. Since beach club takes more points per stay and I heard how busy the pool is (because it is so awesome), I thought BW might be the way to go. Then we can always *try* to stay at BC once in awhile if we want.

And we are only looking for around 100 points... enough to go once a year or save up and go in bigger rooms every couple years. I want to pay cash and still have enough left for the wedding, so another reason why I don't want more points.

And as far as the availability of rooms at that resort - I have no idea if that is one of the bigger ones or not (I am thinking not).

Hey Tiffany D:

DH and I bought 100 points at BWV. We love it!
We have taken advantage of the Boardwalk view and the standard points. We love being on the boardwalk and being able to walk to Epcot. We don't walk to the studios, but that has more to do with us. The view from the boardwalk is spectacular, and the standard view is pretty great too.

As for only having 100 points, its worked out well. We have banked and used 200 points for a 2 bedroom bw view in April, and have used the standard studio points to get away for a weekend trip in January. (We've been to Hilton Head too.) 100 points is plenty to cover normal vacation habits, but be forewarned...After going to Disney in April of '07 and then January '08...we are a little bummed that we won't be at WDW again until March '09. (We are going back to HH in November '08 though)

We are actually saying OMG, 14 mos. w/o the mouse. What will we do? How will we ever cope? We used to average going every 3 years. Now we can't stay away. Addonitis is a real and serious problem. DH and I have chosen to pay dues yearly to provide the needed booster shot against this very real disease, but have decided that we will not be able to hold out forever. Points charts for cruises, and other options add to the problem. We're also Contemporary Resort junkies too, so you can see where this is headed. MUST RESIST-- CANNOT BUY MORE POINTS!

 

[castleri]

Hi all!

This is my first time posting over here on the DVC boards, though I have lurked quite a bit and gathered some information. I am thinking about buying a resale from The Timeshare Store, but I wanted to make sure I understand how it works before I spend that much $.

So the one I am looking at has a use year of October and has points coming in October 2008. So if there are points currently available and I bank them... I will have those banked points as well as the normal ones coming in October 2008, right?

We are looking to honeymoon in December 2008. So if I buy this, then as soon as we close, I can make the reservation for December? I would bank the points and have 0 at that time to use but would be getting them in 10/08 for use in 12/08. Is this how it all works? Thanks for any help!

You are right in your thinking that if there are points available you could bank them and use them for the trip however if the listing is the one I think it is I would say there are no available points from the 2007 Use Year so you won't have points until Oct 2008. The specific mention of a closing date seems to me to indicate that the points for this year are committed to a reservation and the sale cannot close until after it takes place. You can make reservations using those points (2008 UY) as soon as you are in the system and they would be considered current UY for your December trip however. I think they usually list available points and then those coming in the next 2 years and I don't see any listed as available. Good luck with your decision and purchase and hopefully you will get that reservation you want.

 

[TifffanyD]

Hi again!

There were actually 2 listings by the same seller... both with 100 points available in October but one of them had 46 available and one had 0 available. So they had a pending reservation yes but some points left over on one of the accounts. Of course as soon as I called to buy the one with 46 available I got a call RIGHT back that it sold as I was on the phone! Egads! So now I am making an offer for $100 less for the one with 0 pts available because one of that exact same points/use year sold for that much. Waiting on a call back now! If I miss this one I am SOL so let's hope!

 

[TifffanyD]

Hey Tiffany D:

DH and I bought 100 points at BWV. We love it!
We have taken advantage of the Boardwalk view and the standard points. We love being on the boardwalk and being able to walk to Epcot. We don't walk to the studios, but that has more to do with us. The view from the boardwalk is spectacular, and the standard view is pretty great too.

As for only having 100 points, its worked out well. We have banked and used 200 points for a 2 bedroom bw view in April, and have used the standard studio points to get away for a weekend trip in January. (We've been to Hilton Head too.) 100 points is plenty to cover normal vacation habits, but be forewarned...After going to Disney in April of '07 and then January '08...we are a little bummed that we won't be at WDW again until March '09. (We are going back to HH in November '08 though)

We are actually saying OMG, 14 mos. w/o the mouse. What will we do? How will we ever cope? We used to average going every 3 years. Now we can't stay away. Addonitis is a real and serious problem. DH and I have chosen to pay dues yearly to provide the needed booster shot against this very real disease, but have decided that we will not be able to hold out forever. Points charts for cruises, and other options add to the problem. We're also Contemporary Resort junkies too, so you can see where this is headed. MUST RESIST-- CANNOT BUY MORE POINTS!

Thanks for the response! How far/long of a walk is it to Epcot?

Yeah I know I *could* use more points but I don't want to stress about it, plus we might want to try some of the other (non DVC) resorts at some point that wouldn't be a good use of points anyways. I hope this works out... and I can't wait!!!