Thinking of resale, some questions!

[Cmbar]

Well we have decided that Resale is the way for us because we just don't like AKV and don't want to be an owner there. We would love to purchase about 100 points at one of the other resort such as VWL, BCV or OKW or SSR. We wouldn't be unhappy being at any of those resorts so I think our only choice is resale.

So does anyone have a recommendation of a good resaler? I see the Timeshare Store in on this site so I assume they are good and reputable. If someone has had a bad experience could you PM and explain. My DH would prefer to buy direct from Disney, but we just don't want AKV and don't think we would be able to buy the new Contemporary one because I hear there is a waiting list for that.

Also, When the resalers say "make an offer" is that more about asking the seller to pay certain fees? I assume the price per point in the asking is usually good enough to possibly pass the ROFR, right?

And finally, I am probably looking for a sales of points that at least has the upcoming use year available. OR is it better to look for a lower price per point.

Thanks for any advice or recommendations! We would love to be welcomed home some time soon!

 

[Caskbill]

Lots of good questions. Looks like you've been doing your homework. I'll give a couple of answers.

1. The Timeshare Store is excellent. An actual B&M business, not some agent working out of their house. They are the largest seller of DVC timeshare, last I heard about 80% of all that are sold.

2. You can still buy the other resorts directly from Disney if you wish. Two things: 1. No incentives, you'll pay full price. 2. You may have to waitlist. They get points back via ROFR and then make them available. You can check with your guide about what is available now. Good thing is you can get the exact number of points you want.

3. To make an offer on a resale is simply the negotiations that take place between seller and buyer. It's just like buying a house. The sale is made when both parties finally agree on all the terms.

4. What points are available will depend entirely on the individual contracts. Some users may have points that were banked, thus making what we refer to a 'loaded' contract, while others may have borrowed and used next year's points already, what we call a 'stripped' contract. The price paid should reflect this.

Others will chime in. If you get any specific questions, just post back.

Hope this helps

 

[Cmbar]

Caskbill! I am honored you responded to my post! I have been using your DVC points planner for years (we rent A LOT!)

One other question. When you say we can buy direct from Disney, lets say I want 100 points at VWL. I call my guide and he either has points available or puts us on a waiting list right? Now what is full price for VWL? Is it the same as the current (no incentives) cost of AKV which is 104. Or is there a lower price for VWL for the reduced year use?

Also, If we do resale and Disney ROFR's it, are we out any money?

OH and another question if you don't mind. What is the process of a Resale?

We put an offer in and let say the seller accepts. What happens after that? Do we put a deposit down (if so, can I put that on my Disney Visa? Love those points!) and then the deposit is held until it goes through ROFR? If we pass ROFR then how do we pay the balance of the sale. Could I put the whole purchase on my Visa and then pay off from our savings? I would love to get those points? OK I am greedy!

Oh and one last question. How is it possible to see some resales at uneven points like 75 or 98? Don't you have to buy in increments of 50 or 100?

Thanks for any and all help!!

 

[bookwormde]

I used Carrie at A Timeshare Broker (atimeshare.com) she was excellent. I talked to Scott at TSS and he was good also.

The best buys for on site points are OKW at $67-68 to pass ROFR and SSR where 1 just passed at $73. With resale there is no guarantee what will pass, if DVC needs the UY month that you are buying they may take it at above these levels.

Deposits vary, but are refundable if DVC ROFR’s the contract or the seller does not perform. An offer and acceptance can be done in 1 day by fax if the seller is available. ROFR can take from 5-30 days but 10-14 days is typical. ESTOPPLE (DVC title search) can take the same after ROFR is complete. Then it is just a matter of how fast you and the seller get all the paperwork back to the broker/settlement company. Most settlement companies will settle within a day or 2. Then it typically takes 7-14 days for DVC to put you in the system and have your points available. A couple of brokers let you put part of it on visa but it is usually limited the balance is by bank check. Contracts were written for any amount above the minimum, but most people just bought in standard increments, when you are buying resale you just buy whatever the original contract from DVC was.

Look in the ROFR thread on this section there is lots of info on what has and has not passed ROFR for the various resorts.

bookwormde

 

[javamom]

We purchased our BWV points from TTS. They were great! Here is how it worked for us, very briefly.

We emailed them with the contract number that we wanted to purchase. They responded and sent paperwork via email to fill out and fax back to them with the down payment.

The seller has to do similar in accepting the offer.

Once both parties take care of these papers, then they can send it to Disney for ROFR.

They will notify you of Disney's decision. If they decide that they want the contract, your down payment is refunded to you. Otherwise, the process moves on.

The title work is done by the title company (forget the name atm). The title company will request the estopple documents from Disney, indicating that the purchase is indeed for what it is supposed to be for and that there are no liens of any sort against it. The title company will email you, and you can contact them for status inquiry if necessary.

Again, this is something that they have to wait on Disney for.

Once that is done, you should receive papers from the title company with the total amount due. The title company has to receive the notarized deed transfer from the selling party. Once all payments and paperwork from all parties has been recv'd at the title company, you will receive your copy of the warranty deed.

Depending upon whether you have ever contacted a Disney DVC rep before or not, you will likely get an email from this person welcoming you to the Club.

This is how it worked for us. When I called MS, we were already in their system, but our points had not been entered into the account yet. We were instructed to call back the next day, and yes, they were there.

However, I have heard from other folks that this can take a little longer. For us it went quickly, and I suspect it is because of the fact that our names were already in the DVC system from having taken the tour and talked to a guide.

Resale does take longer (6-8 weeks) start to finish than buying direct from Disney, but it was worth it for us.

 

[chalee94]

One other question. When you say we can buy direct from Disney, lets say I want 100 points at VWL. I call my guide and he either has points available or puts us on a waiting list right? Now what is full price for VWL? Is it the same as the current (no incentives) cost of AKV which is 104. Or is there a lower price for VWL for the reduced year use?

pricing information for other DVCs

Also, If we do resale and Disney ROFR's it, are we out any money?

nope. just out a potential contract and some wasted time.

We put an offer in and let say the seller accepts. What happens after that? Do we put a deposit down (if so, can I put that on my Disney Visa? Love those points!) and then the deposit is held until it goes through ROFR? If we pass ROFR then how do we pay the balance of the sale. Could I put the whole purchase on my Visa and then pay off from our savings? I would love to get those points? OK I am greedy!

most resale companies don't take credit cards. for any part of the transaction.

Oh and one last question. How is it possible to see some resales at uneven points like 75 or 98? Don't you have to buy in increments of 50 or 100?

nope. you have to add-on a minimum of 25 pts if you're paying cash and 50 pts if you're financing. most people prefer round numbers, but if you only need 27 pts or 53 pts, DVC will be happy to sell you a contract of that size.

and if you don't need the add-on later, that's where those smaller resales come from...

 

[RobDoc]

...
One other question. When you say we can buy direct from Disney, lets say I want 100 points at VWL. I call my guide and he either has points available or puts us on a waiting list right? Now what is full price for VWL? Is it the same as the current (no incentives) cost of AKV which is 104. Or is there a lower price for VWL for the reduced year use?

Unless you are already a DVC Member adding on to your existing contract, 160 points is the minimum purchase thru DVC for the older resorts. There has been an incentive to purchase SSR and AKV with a 100 point minimum, but that incentive has not been offered for the older resorts.

Oh and one last question. How is it possible to see some resales at uneven points like 75 or 98? Don't you have to buy in increments of 50 or 100?

The minimum purchase for an add-on is 25 points. Any larger number of points may be added - 26, 27, 49, 117, etc. are all possible add-on purchases and these are the contracts you see available by resale. Add-ons are separate deeded contracts and may be sold independant of the master contract (or the master contract may be sold and the add-on kept).

I'd suggest having an idea what ROFR levels have passed recently and base any offer on that level. Sometimes sellers have priced their resale lower than ROFR to try to sell it quickly - knowing that they will get the same amount whether DVC takes it or you purchase it, so be aware what a typical ROFR might be for the specific resort you are interested in purchasing. As others have suggested, maintenance fees and closing costs are negotiable and should be spelled out in your offer unless you expect to pay both due to the value to you of the contract (banked points, Use Year, etc.).

For purchases directly thru DVC - AKV, SSR, BCV and BWV are all $104 per point - but AKV currently has an $8 per point incentive bringing the cost to $96 with a minimum number of points.
SSR has a $10 incentive lowering the cost to $94 per point.

VWL and OKW are both $101 - VWL has an expiration date of 2042, OKW expires in 2057 for direct purchases.

HHI and VB are both $92 per point but have an incentive lowering the cost to $87 with a minimum purchase of 50 points. (Again, a 50 point purchase could only be made by an existing member.)


Good luck with your decision!

 

[Cmbar]

Thank you all for your comments! They have been very imformative! I really think we want to try resale for a smaller point value. Can anyone tell if there is a good place to know what is passing ROFR. If we want VWL it doesn't look like there are very many contracts out for that resort. Do we have a slim chance of passing ROFR with that property?

I will try and find that post that has the ROFR listing. Thanks everyone!

 

[Caskbill]

Thank you all for your comments! They have been very imformative! I really think we want to try resale for a smaller point value. Can anyone tell if there is a good place to know what is passing ROFR. If we want VWL it doesn't look like there are very many contracts out for that resort. Do we have a slim chance of passing ROFR with that property?

I will try and find that post that has the ROFR listing. Thanks everyone!

You'll pass ROFR if your offer is higher than Disney wants to pay a seller for the same points. If you check with the Timeshare Store, for example, they can tell you what might and might not pass ROFR for VWL.

Keep in mind, ROFR is not a fixed amount. There are other factors involved including what use year it is, how many points are in the current year, and whether there are banked or borrowed points in the contract. All of these affect the 'value' of the contract, and therefore the 'price', which in turn triggers an ROFR amount.

 

[RobDoc]

... Can anyone tell if there is a good place to know what is passing ROFR. If we want VWL it doesn't look like there are very many contracts out for that resort. Do we have a slim chance of passing ROFR with that property?

I will try and find that post that has the ROFR listing. Thanks everyone!

Here is our ROFR thread. I'd go to the latest pages and look for a summary by "Donald is #1" to get an overall picture.

http://www.disboards.com/showthread.php?t=1710667&page=108

Good luck!

 

[snackyx]

My DH would prefer to buy direct from Disney, but we just don't want AKV and don't think we would be able to buy the new Contemporary one because I hear there is a waiting list for that.

Don't let anyone fool you--I don't believe there is any "waiting" list for the new Contemporary because there has been no acknowledgement whatsoever from DVC that this is even a resort. "When" it is announced there will be points galore to buy--although the price will be a bit higher.

One other note--I recently purchased and sold a contract through Jaki and **** at **********.com and they are terrific people to deal with. Excellent updates and communication, it was relatively quick and easy.

 

[Mickey'sApprentice]

We purchased through dvcbyresale and were very happy. We have 100 pts. at BWV.

 

[Cmbar]

Don't let anyone fool you--I don't believe there is any "waiting" list for the new Contemporary because there has been no acknowledgement whatsoever from DVC that this is even a resort. "When" it is announced there will be points galore to buy--although the price will be a bit higher.

One other note--I recently purchased and sold a contract through Jaki and **** at **********.com and they are terrific people to deal with. Excellent updates and communication, it was relatively quick and easy.

Why do people say there is a waitlist? Do they have a guide that has them listed that they will call as soon as the BLT is released? Do you suppose that if you want to stay at BLT you would have to own there? I am not talking about times that are busy like Early Dec, Christmas, Thanksgiving or Spring Break. We really liked going in the summer this year (a first for us) so what is DVC availability in Summer? The more posts I read the more I realize that it is going to be difficult to use our points, especially if we only have a small contract about 100. If only 1 brs are available it will cost us more points when we can fit in a studio. OH this is getting to be a hard decision!

Thanks for the recommendation for Jaki and ****. I am seeing a lot of positives on them!