Thinking of buying a resale...I have some questions!

[Kim&Chris]

My husband recently got a bonus, so we're thinking of buying a DVC timeshare with the money. I've been looking at the listings on TTS and believe that they appear to be reasonable.

There's one at OKW we're particularly interested in.

Here are my questions -

Can you make an offer? In other words, if they are asking $80 per point, can you offer $79? If so, what might I expect?

What the heck is ROFR? I know what those initials stand for, but after that I'm lost

Do any of you have any experience with TTS? How are they to work with?

 

[Safari Queen]

Yes, you can certainly make an offer. We bought BWV from TTS and they were terrific. They have a good handle on what price should get you through ROFR, which means Disney has the right to buy back any contract before it's resold. When we bought, Pat Spell told us the price she thought we could get the contract for and also get through ROFR. We were successful on both.

 

[Plutofan]

The Timeshare Store is excellent. We just used them to purchase a Vero beach contract. You can negotiate with the seller on the price, closing costs and sometimes on the maintenance fees. You should discuss your offer with a Timeshare store person to see what your chances are at passing ROFR. I would look at each contract and figure out the price per point over the points remaining on the contract until it expires in 1/2042. You get no points in 2042. I am not sure why everyone quotes the price over annual points when a contract that has current points is more vaulable than a contract with no current points. Also a helpful hint is that the last four numbers on the contract represent the day it went up on the re-sale board. This was helpful for our purchase since the seller had it listed for a very long time so they were more willing to negotiaite. Good luck. There is also a thread here somewhere that has a link to contracts that have passed and not passed ROFR by resort. If you do a research you will probbaly find it.

 

[J and R's mom]

...What the heck is ROFR? I know what those initials stand for, but after that I'm lost

Disney has the Right Of First Refusal. So basically, if you and the seller agree to a contract price (say $75/pt for a 150 pt BCV contract), Disney can buy it out from under you for the $75/pt and you lose the contract. That's what the Timeshare store is good at. Getting you a good price per point so that Disney doesn't buy it out from under you and you don't overpay.

Good luck! We're hoping to use them soon ourselves!

 

[CALNEVA DISNEYFANS]

I used the Timeshare store. Great experience. I'm putting my 50 pt contract with OKW for sale and buying 100 pt contract, most likely thru Timeshare Store again!

 

[jekjones1558]

TTS will be invaluable in helping you shape an offer ($$/point, closing costs, maintenance fees) that will be attractive to you and the buyer but NOT Disney. If you find a contract that looks interesting, CALL them
(1-800-550-6493). They will not high-pressure you and you will feel better for having checked. You can also be asked to be put on their rolls for other resales that may come up, with specifications on size, resort and price you would like. Good luck! Go for it!

 

[vascubaguy]

Just echoing what others have said. Yes you can negotiate the terms of the deal; however, the lower the per point price, the more likely DVC is to ROFR that contract.

Also, if you are looking at a 150 pt contract (or more) that is listed at $80 per point, just know that up until the end of this month, you could get 150 pts at SSR (lower dues and more years remaining) for $83.30 per point (no closing costs). With the resale, if you paid $80 per point, you might have to factor in closing costs as well (if the seller pays those, normally the buyer does).

HTH

 

[crisi]

Can you make an offer? In other words, if they are asking $80 per point, can you offer $79? If so, what might I expect?

What the heck is ROFR? I know what those initials stand for, but after that I'm lost

Do any of you have any experience with TTS? How are they to work with?

You can make an offer. You can expect one of three things:

1. The owner will say "no thanks, price is firm." You can reoffer and their price.
2. The owner will say "ok" Disney will buy it back with ROFR and you'll always wonder if that $1 a point cost you the contract.
3. The owner will say "ok" and you'll save yourself a buck a point.

Its the risk of #2 that is scary....because of ROFR you don't want to try and buy a contract for too little. And that's what ROFR is, Disney "clears" each contract - if its going for too good of a price, they buy it from under you (then resell it as add ons for the going Disney price). No one really knows what contracts will go through and which ones won't. Sometimes it seems like a contract gets bought up when a cheaper one went through just last week. There is a ROFR thread around here somewhere to check out. If Disney ROFRs your contract, the seller gets the same deal they would have, but you - the buyer - start over at square one looking for a new contract. (All deposits, etc. are returned to you).

We went through "another resale company" but TTS has a fine reputation and I wouldn't hesitate to recommend resale. The process was very smooth.

 

[bullpup12564]

After the contract is submited it goes to disney for rofr. In our case the first contract took 18 days before being bought back. As stated above this brings you back to square one. The next contract took 22 days to pass. I started buying contracts Oct 21st and was only able to make my first reservation today.

The wait is worth it since it enabled me to purchase a resort besides ssr. Waiting for ROFR sometimes seemed like a cruel modifacation of the chinese water torture!

 

[TCPluto]

Another vote of confidence for TTS. Fair, fast, and efficient. They'll keep you informed every step of the way.

 

[Ed T]

I've used Jaki Apetz at A Timeshare Broker. I've purchased 2 resales. Great lady with good followup. Send me an email for further details.

Ed

 

[auntsue]

If you check out this chart that someone was kind enough to post (http://members.cox.net/disneyvacationclub/pages/ROFR/dvc_resale_history.htm) it will give you a great idea of what offers passed.

When we bought, we used the ROFR thread to gauge what to offer or what would pass, and we got an excellent BWV resale for $80 a point.

The best advice I can offer is do your homework and be informed. Like crisi says, you don't want to lose the contract for $1 a point.