Thinking of buying resale-Any suggestions?

[Luv2trav]

I am totally new to this DVC resale buying... Can you offer me any suggestions and/or recommendation on what I should look for? I am very interested in BCV and BWV in particular..

How much should I expect to pay for a 200 pt contract?
When you buy resale do you have to have the 10% down first?
Is the price that listed negiotable(sp??)?

 

[Happy Birthday Cat]

Everything is negotiable. But remember that Disney has the right to match your offer. So if you offer a low amount, chances are that Disney will take it right out from under you.

You should reserach what Disney is presently exercising the ROFR at and make sure you bid above that. Include the amount you will have to pay in closing costs. Remember that is negotiable too.

When you buy resale you need to come up with the money to pay for the contract. There is one company out there that will finance a timeshare but most banks will not. A home equity loan may work well.

HBC

 

[Cruelladeville]

When you buy a resale everything is negotiable As far as I know, you do not need to have the 10% down when you make an offer, but most timeshare realtors do not offer financing, so you will eventually need 100% of the cost, plus money for closing costs, around $500 or so, perhaps $$ for maintenance fees for part of the year, and perhaps $100 for the transfer fees. Those all are negotiable, though. You should expect to pay about $70-$74 per point for a contract, depending whether or not there are any banked points that come with the contract. A stripped contract--it has no points with it till 2005--has a lesser value. Needless to say, it would be to your benefit to get a contract with points attached, even if you have to pay more for it. If you have too many points you could always bank them or rent them out.

 

[momtofour]

I was where you are now about a month ago. I spent many hours on this board really investigating if this was right for my family. I played out all the scenarios, did the financials, and the answer was a resounding yes!! I am under contract and waiting to pass through ROFR with a BWV contract. I offered $70.00 per point for a 160 point contract with a 160 points banked. I pay the 2004 maintenance fee and closing costs. The seller pays for the 2003 maintenance and the DVC transfer fee. I'll update on these boards as soon as I hear from my realtor. Both BWV and BCV seem to be in high demand due to the incredible location. (BCV more than BWV) I chose BWV strictly for the lower point values needed for standard views. I would have loved to buy at BCV but it requires more points and it is much more difficult to find contracts with banked points. Keep asking away until you feel comfortable!! And best of luck!!

 

[thechangingtable]

I just picked up 50 BCV from Disney resale Monday. I paid $84.00 for Feb Use year and point available immediately. Just had to pay the 10% down. I probably could have gone thru timeshare, but would have had to pay closing and get the money upfront. I just financed with Disney.

I also have SSR $150 as well I am waiting to close on.

I would like to BWV too and I have told my guide to call me if he gets 50 points in.

christine