Walk me through the resale purchase process, please!

[RoseMom]

How much harder is it really to purchase a resale contract through the sponsor company vs purchasing direct? I know the process is much longer. Are documents signed via DocuSign, do documents have to be notarized, etc?

 

[kilik64]

Its not harder, just way longer timing to get to where you have actual points in your account to use.

 

[RoseGold]

Depends on the rules of your state and financing. I bought cash and did all Docusign and wires. Financing can require more hoops.

 

[KVacc]

How much harder is it really to purchase a resale contract through the sponsor company vs purchasing direct? I know the process is much longer. Are documents signed via DocuSign, do documents have to be notarized, etc?

We did not have to get anything notarized being the buyer, I know the seller had to though. It’s a long process, months in total vs 20 mins direct. We paid cash for both though. Not sure if financing makes a big difference.

 

[Pens Fan]

It's just a time thing and the chance that DVC will take the contract in ROFR. With direct you can have the points in your account in a matter of hours. With resale it will be a few months assuming Disney doesn't take it back in ROFR. Other than that, it's not much different. As for the notary, I'm not sure if there is a difference. We've always paid cash for both our direct contracts and our resales and we've never had to get anything notarized. I'm pretty sure resale financed contracts require a notary, but I have no clue about direct financed ones. They may has well, which would negate any difference, but I really don't know. At the end of the day you have to balance convenience and time vs price.

 

[hexfetton]

How much harder is it really to purchase a resale contract through the sponsor company vs purchasing direct? I know the process is much longer. Are documents signed via DocuSign, do documents have to be notarized, etc?

Depends on the rules of your state and financing. I bought cash and did all Docusign and wires. Financing can require more hoops.

I feel like this whole thread would have been unnecessary if adult children these days took time out of their day to occasionally talk to their parents. Alas, we are all swimming together across the empty void of social media.

 

[Sandisw]

I feel like this whole thread would have been unnecessary if adult children these days took time out of their day to occasionally talk to their parents. Alas, we are all swimming together across the empty void of social media.

Not understanding this?

 

[sndral]

How much harder is it really to purchase a resale contract through the sponsor company vs purchasing direct? I know the process is much longer. Are documents signed via DocuSign, do documents have to be notarized, etc?

There are several brokers specializing in reselling DVC contracts - like 7 or 8. I’ve purchased resale contracts from a couple of them & I’ve also purchased direct from DVC. If you can be patient & don’t need blue card benefits or if you want fewer than DVC’s minimum new member 150 points then resale can save a lot of money.
The differences:
Time, resale will take longer, for an idea of how much longer it’s currently taking read the last few pages of these threads
https://www.disboards.com/threads/r...-instructions-formatting-tool.3878357/page-45
https://www.disboards.com/threads/closing-time-2021-and-2022-edition.3836891/page-74
Risk of ROFR - DVC reserves the right to step into a buyer’s shoes & buy back any contract sold called the right of first refusal, so w/ every resale contract you have an accepted offer on you have to wait about a month for DVC to decide if they want it & if they do you have to start over w/ another contract.
Supply - DVC may not be selling the resort you want (for a long time they weren’t selling VGF, they currently aren’t selling VGC.) W/ resale listings it may take awhile to find a contract w/ the number of points & use year you want - especially if you want one of the smaller resorts.
MF - DVC direct prorates MFs, w/ resale, although it’s negotiable, most sellers want 100% of MFs on current years points.
Form of payment - DVC accepted a credit card payment (run through a week apart x3) on my direct purchase, whereas w/ resale although I could put my small initial security deposit on a credit card the big payment at closing had to be either a certified check or I wired the funds to the title co.. If you are financing your purchase you’ll have to notarize the mortgage documents for both direct & resale.
Access/use of points. W/ direct once your doc.s are signed & even before you’ve entirely paid for them your new membership is quickly created & your points are immediately loaded & you can start to use them to make reservations. W/ resale even after you’ve fully paid for the contract & your deed has recorded you’ll have to wait for DVC to create your membership & then wait awhile longer for DVC to load your new points. For how long see the closing time thread linked above.
Once you are a member & your points are loaded a resale member is treated the same as a direct member, except for access to blue card extras and not being able to book Riviera. There’s currently an IT glitch that may interfere w/ borrowing resale points to book a reservation & some have had to call to get that sorted out - it’s not impacted every resale owner & hopefully that’ll be fixed - but it’s an annoyance for those who’ve dealt w/ it.

 

[smmora]

Not understanding this?

You have to look at the names for the joke

RoseMom & RoseGold

 

[Sandisw]

You have to look at the names for the joke

RoseMom & RoseGold

Hahaha!