We are FINALLY going to be DVC owners!

[Normangirls]

My parents and I are finally, after all these years, going to be DVC owners!



We made an offer on a resale through Fidelity. We did not low-ball the offer, but we were aggressive about a lower price, closing costs and 2011 maintenance fees. I expect the seller to counter, but whatever the counteroffer looks like, I think we'll come to terms.



We did specify in the offer that we want 2010 points banked by 3/31 (since the contract has an August use year).

I'm anxious to get through ROFR and closing, since we'd really like to take a vacation in October/November.

So, YEA for my first post on the DVC boards!

And now a few questions:

1. Once the seller accepts our offer (I'm thinking positive), we sign the paperwork and they sign the paperwork, we make our downpayment, then ROFR, then closing (and paying the balance due), right? Am I missing a step?

2. Once we close, and get in the DVC system, THEN we can finally make reservations, correct? Or can we have the seller go ahead and make those ressies for us while we wait to go throught ROFR and closing?

3. Any clue what may be available for October/November if we close (and can make reservations) in April?

I can't wait to add a DVC thingie to my signature! This will have to do for now:

 

[browniemtb]

Congrats and good luck with ROFR......

 

[thepops]

My parents and I are finally, after all these years, going to be DVC owners!



We made an offer on a resale through Fidelity. We did not low-ball the offer, but we were aggressive about a lower price, closing costs and 2011 maintenance fees. I expect the seller to counter, but whatever the counteroffer looks like, I think we'll come to terms.



We did specify in the offer that we want 2010 points banked by 3/31 (since the contract has an August use year).

I'm anxious to get through ROFR and closing, since we'd really like to take a vacation in October/November.

So, YEA for my first post on the DVC boards!

And now a few questions:

1. Once the seller accepts our offer (I'm thinking positive), we sign the paperwork and they sign the paperwork, we make our downpayment, then ROFR, then closing (and paying the balance due), right? Am I missing a step?

2. Once we close, and get in the DVC system, THEN we can finally make reservations, correct? Or can we have the seller go ahead and make those ressies for us while we wait to go throught ROFR and closing?

3. Any clue what may be available for October/November if we close (and can make reservations) in April?

I can't wait to add a DVC thingie to my signature! This will have to do for now:

Congratulations!
1) yes that sounds right.
2) you have to wait until after closing (and then a week or so) for you to get into the system. If there are pending reservations, they will be canceled at the time of sale.
3) It shouldn't be too bad. I would think OKW or SSR would have availability.
Hopefully you can get into ROFR before the March 20th deadline (unless you really don't care about not being able to book cruises, etc. with the points).

 

[Normangirls]

Yeah, we decided to just ignore the March 20th deadline! There are so many unknowns (Will the price go down? Will there be fewer resales? Will Disney use that delineation in the future to make more changes?) that we figured we'd just go with it. If we get it in for ROFR before then, great. If not, oh well.

But if the seller accepts this offer, we should have it in by 3/20. I wonder if I should have put that requirement in our offer? Has anyone been doing that?

 

[rock_doctor]

Don't mess around with it for too long. It must be to Disney by 3/20... They require some pretty hefty turn around times. Good luck, if you are paying the asking price, which with Fidelity is generally the bottom price already you should pass ROFR with out any problems. We were told point blank the price on ours was what was owed on the loan. So we also went with the shown price. Good luck and let us know how you make out.

 

[sleepydog25]

Yeah, we decided to just ignore the March 20th deadline! There are so many unknowns (Will the price go down? Will there be fewer resales? Will Disney use that delineation in the future to make more changes?) that we figured we'd just go with it. If we get it in for ROFR before then, great. If not, oh well.

But if the seller accepts this offer, we should have it in by 3/20. I wonder if I should have put that requirement in our offer? Has anyone been doing that?

In general, you can put in an offer pretty much what you like, but it's a moot point with your offer already in the books. If they come back with a counter proposal, you could always add that the ROFR must be submitted NLT 20 Mar. You didn't say where you were buying nor the cost, but lately it seems most sellers are quite motivated to rid themselves of a contract they feel will be worth less after 20 Mar (whether that's true or not remains to be seen). As a pp said, you should be able to find something in the timeframe you want come April. I closed on a VWL contract in late April last year then booked an early December reservation at SSR. I also went on a waitlist for my home resort and wound up getting it a few months later. Good luck!

 

[Havana]

Congratulations and good luck.
We are in the closing stage of a resale now.
It's an exciting time! Waiting is the hard part

 

[Normangirls]

I feel like a five-year-old waiting for my birthday!

We offered a few dollars less per point than they were asking (I'm not going to open that whole can of worms here, but it is a business transaction). I am hoping the sellers are anxious to accept an offer before 3/20.

Fidelity has actually been pretty good about answering e-mails right away, even if it's just to tell me they don't have an answer yet. But I think we should hear something today, since they've had the offer since last week.

It's a VWL contract, and while we'd love to stay there this year, OKW or SSR would be great, too. It's nice to hear that resorts have openings come up, so that gives me a little hope for staying at VWL this year.

Thanks everyone, for the answers and support!

 

[Normangirls]

Oh my gosh oh my gosh oh my gosh!!!!!!!

I just got an e-mail -- they accepted the offer!!!!!!!!!!!!


WOO HOO!!!!!!!!!!!!!!!





(Sorry. Smilie overload.)

 

[sleepydog25]

Oh my gosh oh my gosh oh my gosh!!!!!!!

I just got an e-mail -- they accepted the offer!!!!!!!!!!!!


WOO HOO!!!!!!!!!!!!!!!





(Sorry. Smilie overload.)

lol Congrats! Now, get into ROFR as soon as possible. Once you're done and loaded into the system, you can try to book the trip you want, but if there aren't any rooms available at VWL then (quite likely), take what you can get then go on a waitlist. Good luck!

 

[Normangirls]

lol Congrats! Now, get into ROFR as soon as possible. Once you're done and loaded into the system, you can try to book the trip you want, but if there aren't any rooms available at VWL then (quite likely), take what you can get then go on a waitlist. Good luck!

Got it! Awesome post -- I feel like I got a pep talk from Woody Hayes!

They said we should have it in to Disney in the next few days. I'm so excited (as you can tell!).

The funniest thing about this is that I won't really even be using it, at least at first. My parents will primarily use it (I'll pay OOP for my family to stay at the values), but they've wanted DVC so badly for so long, and I got them a really good deal, and now I know they'll be able to continue to go with us!

"Welcome home" indeed!

 

[dbs1228]

Congratulations! I am waiting on either Fidelty OR the sellers but our offer was excepted last Thursday 3/3, got contract 3/4 signed and faxed it with cc deposit on 3/4 still have not heard a word. I was told they would contact me when it went to ROFR. I told them I only want the contract if it is submitted before 3/20. I am used to dealing with TSS where communication is on going (sold and bought through them) but Fidelty certainly had the great contract. My biggest concern is that the contract comes with 2009 banked points which have to be used by 9/30/11 and 2010 points which need to be banked by 5/31/11.

 

[mgroshans]

congratulations!!!

 

[sleepydog25]

Got it! Awesome post -- I feel like I got a pep talk from Woody Hayes!

They said we should have it in to Disney in the next few days. I'm so excited (as you can tell!).

The funniest thing about this is that I won't really even be using it, at least at first. My parents will primarily use it (I'll pay OOP for my family to stay at the values), but they've wanted DVC so badly for so long, and I got them a really good deal, and now I know they'll be able to continue to go with us!

"Welcome home" indeed!

How sweet are you to help your parents then? lol As I alluded to in an earlier post, I purchased at VWL last April, and the points were in the system within about a week or so, though some are saying it has taken them longer. I immediately attempted to make a ressie at VWL but could only get a 2BR for two nights out of the five I was there. . .and it was in the middle of the ressie. So, I had two nights at SSR, two nights at VWL, then one more night back at SSR. We then went on the waitlists. We kept calling, frequently, and within a couple of weeks, had SSR-VWL (2BR)-VWL (1BR). I continued to call, not daily but often, and within another couple of weeks had VWL (2BR for 2 nights)-VWL (1BR for 3 nights). There was no change for the next several weeks until about a month and a half before we traveled when my waitlist request for a 1BR at VWL came through, and MS then made them one linked reservation for the entire stay. I don't know that my story is indicative of the success rate this late in the game, but it is an example that good fortune can happen. Congrats, again.

 

[Normangirls]

How sweet are you to help your parents then? lol As I alluded to in an earlier post, I purchased at VWL last April, and the points were in the system within about a week or so, though some are saying it has taken them longer. I immediately attempted to make a ressie at VWL but could only get a 2BR for two nights out of the five I was there. . .and it was in the middle of the ressie. So, I had two nights at SSR, two nights at VWL, then one more night back at SSR. We then went on the waitlists. We kept calling, frequently, and within a couple of weeks, had SSR-VWL (2BR)-VWL (1BR). I continued to call, not daily but often, and within another couple of weeks had VWL (2BR for 2 nights)-VWL (1BR for 3 nights). There was no change for the next several weeks until about a month and a half before we traveled when my waitlist request for a 1BR at VWL came through, and MS then made them one linked reservation for the entire stay. I don't know that my story is indicative of the success rate this late in the game, but it is an example that good fortune can happen. Congrats, again.

WOW. I'm exhausted just reading this!!!!!

 

[sleepydog25]

WOW. I'm exhausted just reading this!!!!!

It actually wasn't a bad experience since we had already figured we wouldn't get into our home at VWL for that trip. At least we had DVC rooms even if it meant a split stay. Through sheer good fortune (and a little bit of persistence), we wound up getting to stay at "home" for the entire visit. I'll spread some moose dust (VWLers version of pixie dust) for you. . . Here's a link to the VWL Lovers' thread if you're interested:
http://www.disboards.com/showthread.php?t=2490642