Thinking about purchasing.

[vicki_c]

So here's a question. What does "purchased by March 20, 2011" (from the DVC website announcement) mean? Fully closed on a resale, I assume and points in the system?

Is it possible to start a resale purchase today and have it complete by then, or does today's announcement effectively mark the cut-off of being able to buy resale and get in under the wire?

Just thinking out loud whether I should be thinking about pulling together some cash for a resale! LOL. In truth, we may never use our points to do anything other than Disney, so for me, it probably doesn't matter.

 

[LouisianaDisneyFan]

So here's a question. What does "purchased by March 20, 2011" (from the DVC website announcement) mean? Fully closed on a resale, I assume and points in the system?

Is it possible to start a resale purchase today and have it complete by then, or does today's announcement effectively mark the cut-off of being able to buy resale and get in under the wire?

Just thinking out loud whether I should be thinking about pulling together some cash for a resale! LOL. In truth, we may never use our points to do anything other than Disney, so for me, it probably doesn't matter.

The time it takes to close can depend on a number of things. The actual ROFR process can take up to a month, but I've seen reports here on DIS of contracts held up due to sellers not signing in a timely manner, title problems, legal descriptions for ROFR being incorrect, etc. There are some things that are just out of your control as the buyer. Also, the way the reseller does business can slow down the process. I appreciated that Fidelity sent hard copies of documents and that they were very thorough. BUT, they were also much slower than the other resale companies I used for purchases. If buying resale and that March 20 deadline is important to you, I think I would ask the broker to specifically write in your purchase agreement that your deposit will be refunded if the contract cannot be closed and filed with the Orange County Comptroller prior to March 20.

 

[epd0407]

So im reading all the comments on DVCnews and its bringing up some interesting points. Does anyone know where I can see an actual contract I will be signing with Disney? My agent has not and I dont think will be providing this. What does the contract specifically guarantee for my money? What is considered a Perk? A link to the contract would be great.