We are seriously looking into buying

[I Luv Disney Cruise]

the timeshare package. I come from a family that has timeshare (not through Disney). My dad's timeshare isn't on a point structure it is a week by week structure and he has had it for around 20 to 21 years now. He has July 4th week at The Links in Mrytle Beach, SC and 1 week in September at Westgate Resorts in Orlando.

My husband and I have been under the impression (and were told by a DVC agent) that if push came to shove that we could always sell our vacation club back to Disney or go through Century 21, etc.

My dad has made a comment to me that has made me have doubts about joining DVC. He told me that if he could he would have sold his timeshare already. He said his maintenance fees alone are so expensive to him that he feels he could be going to a nice hotel or different hotels with that money. I asked him about the trading his timeshare so he can go to different places and his does have that option but has to pay around $80 - $100 to trade his week.

Does anyone know or had it happen to them or someone they know if you had to sell DVC back, can it be done and how hard it is? I am not planning that to happen to us but I want to be prepared ahead of time if I am "stuck" like my dad says he is with his.

Thanks for your input.

 

[Jamieb]

As long as your browsing the DVC forums here on disboards, you can look at the top of the page and see info about resales from The Timeshare Store. You can't sell DVC back to Disney but seeling it on the open market is quite common.

I have not made my purchase but am considering it when we are down there next week but there are also some good deals on the resale market. It seems that larger contracts can take longer to sell via resale but they do sell in time.

There are some other dvc resale agents out there but The Timeshare Store seems friendly to deal with and Pat seems to know her stuff from when I talked with her last week.

 

[I Luv Disney Cruise]

that is strange the DVC agent specifically told me that I am supposed to make my first offer to DVC and they of course have the right to refusal and then that would be when I try to go through someone else. Did I misunderstand him?

Thanks for you input.

 

[Jamieb]

Disney does have the ROFR on all resale contracts. Lately they have been exercising their ROFR on some contracts depending on how low the sale price is per point but I just saw yesterday where someone on here had one that passed at $68 a point.

The one thing with resale is you have to provide your own financing and for some it is easier to get financing through Disney as they are somewhat open as to who they give credit. Thats not to say they won't decline a credit app but it is not too hard to get financed through Disney from what I undersatnd.

You also have to add in closing costs when you purchase resale. Granted, who pays the closing costs is something that can be negoiated between the buyer/seller. If the deal is too good for the buyer though, Disney may exercise their ROFR as it is profit for them to buy low and sell high. If you purchase through Disney then closing costs are coverd.

If you purchase from Disney then you will pay prorated maintenance dues for the first year, as dues are based on a Jan-Dec calander and are due every January. If you buy resale the dues can be negoiated with the seller but once again, if the deal seems too good for the buyer, then Disney may exercise their ROFR.

Another thing to note, through Disney you have to purchase a minimum of 150 points for your initial purchase, but that is not the case via resale. Many people will sell their smaller add-on contracts for 50-100 points and you can purchase them via resale.

 

[Maistre Gracey]

Originally posted by I Luv Disney Cruise
that is strange the DVC agent specifically told me that I am supposed to make my first offer to DVC and they of course have the right to refusal and then that would be when I try to go through someone else. Did I misunderstand him?

Thanks for you input.

Well, there is some truth to this, but you must first find a buyer, then you present the deal to Disney and they can purchase the contract for the agreed terms. DVC contracts hold their value very well when compared to a regular timeshare.

Good luck....

 

[crisi]

If you buy and then choose to sell your points, you will likely pay an agent a commission. You can sell them yourself, but it may not be worth the hassle/time to you or you may not have the resources to do so.

I bought a resale a year ago at $63. Could sell those same points today for $68. Minus the comission, I wouldn't quite break even. But close enough that I wouldn't loose my shirt. Your milage may vary. DVC has - in the past - held its value better than other timeshares.

You do need to pay a fee to book outside of DVC using your points. I believe its $85. And the "best value" for your points is within the DVC system - so regular Disney hotels, Disney cruises, stays at hotels or timeshares you can trade into - are not necessarily the "best value." But they are your points to spend as you see fit. The Disney sales materials and guides will make this sound more valuable than it is for most people (but not all, this is not a one size fits all situation).

One thing a lot of people do to justify the points is say "if I can't use them, I can rent them." Points rent over on the rent/trade board for about $10 a point. So in a lean year you can rent them out. People have also rented points to pay for the cruise, feeling that is a better value.

 

[paults]

I luv disney cruise


If you do buy into DVC try to do a small contract first ( like about 150-200 pts) because if you decide to sell later these smaller contracts sell faster. Trying to sell a 400 pts contract is tough and you cannot break these pts up into small contracts to sell.

If you go through Disney you have to do at least 150 pts (I believe) if its your first contract.

If you buy resale you can take a smaller contract if you can find one.( they don't stay around long and most don't get to be posted)

Are you confused now .

 

[JimC]

Have bought both resale and direct form Disney. Used Pat at the Timeshare Store. She was professional and first rate. You might want to call her and some of the other recommended brokers to get a feel for the market, what sells well and what does not.

 

[I Luv Disney Cruise]

Thank you everyone. Boy, I have learned a lot by reading these boards!

We have already been approved for a Home Equity Loan at a much, much better rate then Disney had to offer. Our closing date is going to be around July 15th. So, I have my financing already taken care of.

I called "Time Share store" and talked with Jerry Sydow and there was a package that we looked at which was for Wilderness Lodge Villas 350 pt. package for $74/pt and the person has carried over 350 points from 2002 and has another 350 coming to her in September. So, I will start off with 700 points. Found out the closing cost would be 625 and I would have to pay the whole 1st year of maintenance. We are still working on a deal, I will find out tomorrow how that goes.

Right now Disney is selling at $84/pt which already the deal at Timeshare store looks sweet!

I plan on looking at the internet someone mentioned earlier "atimershare.com".

Thanks again for all your advice.

I am so excited that I decided to check out these boards before making any decisions.

 

[Richyams]

Great, but beware, contracts with banked points get taken back by Disney on the ROFR. If I really wanted that reasort, that size contract and all those banked points, I may even offer $75. You are still saving a bunch of money and you will have a much better chance of getting it.

 

[I Luv Disney Cruise]

Richyams: I'm not sure I understand. By the way please clarify what "ROFR" means. Thanks I am new to this discussion forum.

You mean once the deal is made I lose those carryover points?

 

[Richyams]

Right Of First Refusal

When there is a resale contract between a buyer and a seller, it must first go through Disney. They have the option to take the contract at the agreed upon terms.

Recently, they have been exercising their option more than ever before. One thing that we have noticed is that contracts with banked points seem more likely to get bought back by Disney.

With that contract, I would probably offer $75, its still a big savings. If it is the perfect size, home resort and has banked points, considering how they have been buying them, I would definitely consider offering $75.

 

[robinb]

My dad has made a comment to me that has made me have doubts about joining DVC. He told me that if he could he would have sold his timeshare already. He said his maintenance fees alone are so expensive to him that he feels he could be going to a nice hotel or different hotels with that money. I asked him about the trading his timeshare so he can go to different places and his does have that option but has to pay around $80 - $100 to trade his week.

This is also true of DVC. I love DVC (I have 430 points in 2 contracts on 2 resorts), but it is very expensive. AFAIC, the purchase price is really nothing compared to the ongoing maintenance which runs us a bundle. Since we vacation at WDW 2-3 times a year, DVC is a bargain. If we only vacationed once a year I might think a bit differently. In addition, like most timeshares DVC charges $75 for a trade outside the main DVC resorts.

 

[I Luv Disney Cruise]

We live in the Tampa Bay, FL area and usually go every month or every other month on the FL residents rate plus once a year we have been gone on Disney Cruise. So, I feel that we would get our money's worth so to speak. Am I correct for thinking that?

Also, I wasn't told about the trade cost of $75 for outside Disney resort. I want to make sure I understand this: if I decide to take a Colorado trip to a resort that is on their list in the point structure book, I will be charged around $75?

 

[Dean]

Originally posted by I Luv Disney Cruise
We live in the Tampa Bay, FL area and usually go every month or every other month on the FL residents rate plus once a year we have been gone on Disney Cruise. So, I feel that we would get our money's worth so to speak. Am I correct for thinking that?

Also, I wasn't told about the trade cost of $75 for outside Disney resort. I want to make sure I understand this: if I decide to take a Colorado trip to a resort that is on their list in the point structure book, I will be charged around $75?

DVC is great if you use it correctly. If you're that close, you might be tempted to use DVC for long weekends. That's a horrible use of points and I'd discourage that practice. The II exchange fee is $75, the other exchange fees have recently increased to $95.

 

[robinb]

Also, using DVC for cruising is also not an effective use of points, IMO. I use the $10 per point rule of thumb for the value of my points. The cruise point structure makes it better to rent the same number of points for $10 per and paying for the cruise in cash.

 

[I Luv Disney Cruise]

Thanks for all your advice. I am looking at other deals through Timeshare store. I am now taking in the knowledge that I have gained just in these few messages about the carryover points, etc.

 

[I Luv Disney Cruise]

We are trying to decide on either purchasing directly through Disney Vacation Club w/ no closing costs and not having to pay for 1st year maintenance up front and it be $84/pt OR purchase through The Timeshare Store and get a resale at the price of $72/pt, but have to pay $600 in closing costs and $1403 in 1st year maintenance up front. I believe we are going to go with Disney directly.

We are wanting to see if we can also use our points on Labor Day weekend, that is our wedding anniversary weekend (Sept. 4th is actual anniversary) date. I don't know if we will be able to get anything. Closing, so they say, should take up to 3 weeks, so that would be pushing my luck if by closing we will find something to use during Labor Day weekend.

Any advice on these things I have mentioned would be appreciated!