We did it! FW purchase at RIV

[SugarSweetLee]

Just got off the Zoom with our friendly guide. 250 points at Riviera, 2 contracts: 153 for FW 7 and 97 for the other.

90 days to pay off, and advised not to sign the closing documents at least until Tuesday when the new offers come out, since that will start the 10 day rescission clock ticking.

When we first took the tour and started discussions in April, the UY was set at December. The default UY offer is now February, but he had no problem changing it back to Dec as we'd planned for (since we often travel in Dec-Feb, it makes much more sense).

All in, the purchase for us as brand new members totals a little over 43k with using MB buyback, Welcome Home offer, and member referral, for an effective rate of $173 per point inclusive of closing costs and docs fees for the split contracts ($168pp without those costs). Just sharing details as I found this kind of information helpful when I was doing my own research.

Edit: oops we changed our minds 300 pts/ FW 49 for 135 + 85 + 80

 

[SugarSweetLee]

Follow up to say, without reading these forums I wouldn't have known to ask our guide half the questions I did, and we would not know about how to apply all the different options like FW that make this a more attractive purchase. It's likely we would have purchased a single contract with higher pints attached, and possibly not as many points overall without knowing to leverage the referral and MB to bring costs down. So thanks everybody for all your generous knowledge share

 

[supercarrie]

Welcome home! Awesome weeks to go with! (Yay for week 7!)

Interesting they told you not to sign closing documents until Tuesday and that the 10 day rescission applies. My guide advised me that you can change things up until the closing date if you opt for a delayed close/90 day payments (so Sept 14 for me). I got it in writing three different times given we are still considering Poly. He also said he flagged it internally and they signed off on it.

I wonder if that perhaps that is just for switching escrow, not canceling altogether?

 

[SugarSweetLee]

Welcome home! Awesome weeks to go with! (Yay for week 7!)

Interesting they told you not to sign closing documents until Tuesday and that the 10 day rescission applies. My guide advised me that you can change things up until the closing date if you opt for a delayed close/90 day payments (so Sept 14 for me). I got it in writing three different times given we are still considering Poly. He also said he flagged it internally and they signed off on it.

I wonder if that perhaps that is just for switching escrow, not canceling altogether?

Idk lol

 

[supercarrie]

Idk lol

Who knows! Either way, what a great deal!!

 

[EPCOT Terran]

Welcome home! Awesome weeks to go with! (Yay for week 7!)

Interesting they told you not to sign closing documents until Tuesday and that the 10 day rescission applies. My guide advised me that you can change things up until the closing date if you opt for a delayed close/90 day payments (so Sept 14 for me). I got it in writing three different times given we are still considering Poly. He also said he flagged it internally and they signed off on it.

I wonder if that perhaps that is just for switching escrow, not canceling altogether?

My guide said the right to cancel was in the 10 day but we could modify almost everything about the contract until the final payment is made.

 

[supercarrie]

My guide said the right to cancel was in the 10 day but we could modify almost everything about the contract until the final payment is made.

Cool, makes sense and thanks! Look at all us shiny new Riv owners!

@SugarSweetLee I forgot to tell you in my earlier post but thank you for all your posts about fixed weeks! I wasn’t even considering one until I saw your posts. Super helpful!

 

[EPCOT Terran]

Who knows! Either way, what a great deal!!

All the incentives they have right now (plus referral) really got the price down enough to justify the direct purchase. Since this is my first purchase (and with the RIV resale restrictions), I wanted to make sure I was blue card eligible.

 

[beccasmom]

Congratulations! RR is a lovely resort!

 

[SugarSweetLee]

Cool, makes sense and thanks! Look at all us shiny new Riv owners!

@SugarSweetLee I forgot to tell you in my earlier post but thank you for all your posts about fixed weeks! I wasn’t even considering one until I saw your posts. Super helpful!

I only asked questions based on what everyone else was posting haha, never would have considered it for myself either! These boards are sooo helpful

 

[SugarSweetLee]

All the incentives they have right now (plus referral) really got the price down enough to justify the direct purchase. Since this is my first purchase (and with the RIV resale restrictions), I wanted to make sure I was blue card eligible.

Same here! We actually had an offer accepted on a resale RIV contract very early on, but I felt sick immediately after and when I did some more research turned around and backed out the next day. The price over time when I calculated it out was not substantially different enough (a couple hundred dollars per year I think) for me to think resale was worth giving up all the advantages direct offers for our first/possibly only purchase.

 

[SugarSweetLee]

My guide said the right to cancel was in the 10 day but we could modify almost everything about the contract until the final payment is made.

That's good to know!

 

[ehh]

Congrats on the purchase! We're huge fans of Riviera and a SV Studio FW is a really smart choice (especially 153pts for week 7, which is 155pts booked normally in 2024 and 2025).

Something I've always been curious about with FW+extra purchases, is it 2 separate contracts or a single 250pt contract that includes FW privileges?

I've always assumed it's 2 contracts but figure I can ask to find out for sure!

 

[sarahlord]

Congratulations!

I just got off the phone with my guide and started a contract for 150 points at Riviera!!!

I hope the deals get better on Tuesday but I doubt it

$28,000 after magical beginnings, effectively 186/point as a new member.

I also have a guide hold on a studio at boardwalk in October for a trip I already had planned.

 

[EPCOT Terran]

Congrats on the purchase! We're huge fans of Riviera and a SV Studio FW is a really smart choice (especially 153pts for week 7, which is 155pts booked normally in 2024 and 2025).

Something I've always been curious about with FW+extra purchases, is it 2 separate contracts or a single 250pt contract that includes FW privileges?

I've always assumed it's 2 contracts but figure I can ask to find out for sure!

Well, I bought 2 favorite weeks and had one contract per week. I assumed that was required (that the contract had to exactly match the favorite week) but perhaps I was wrong.

 

[Tatebeck]

Yeah each favorite week is a separate contract. All the points for that contract are used when keeping the fixed week, so you could add a couple extra points to a fixed week contract to hit an incentive level or something but you lose out on those extra points each time you actually use the fixed week.

I have my call scheduled tomorrow morning and it will have to to be 3 contracts, 135 points for fixed week 50, 114 points for fixed week 39, and a 51 point third contract to get us to the 300 point level

 

[EPCOT Terran]

Congratulations!

I just got off the phone with my guide and started a contract for 150 points at Riviera!!!

I hope the deals get better on Tuesday but I doubt it

$28,000 after magical beginnings, effectively 186/point as a new member.

I also have a guide hold on a studio at boardwalk in October for a trip I already had planned.

I bought two favorite weeks to get me as close to 250 points as I could, to get the Welcome Home incentive at that level. I had two contracts, one for each favorite week. Combined, it worked out to:

$212/pt with the current point discount
$188.19/pt after Welcome Home and referral
$193.20/pt with closing costs added in
$173.20/pt after Magical Beginnings

My points and costs ended up being very similar to @SugarSweetLee in the OP.

 

[Sprinkles&Sprints]

Congrats and welcome home !! Cheers to many years of wonderful memories!!

 

[EPCOT Terran]

Same here! We actually had an offer accepted on a resale RIV contract very early on, but I felt sick immediately after and when I did some more research turned around and backed out the next day. The price over time when I calculated it out was not substantially different enough (a couple hundred dollars per year I think) for me to think resale was worth giving up all the advantages direct offers for our first/possibly only purchase.

We all end paying the same dues and that’s the bulk of the expense over time. Of course, now that you have the blue card, it might make sense to look at resale for any future add-ons.

 

[Floridian From Afar]

Congratulations!

Out of curiosity, did your guide review financing options with you? When we bought Riviera a year and a half ago, we financed directly with Disney. At that point, if you could pay it off in 12 months the rate wasn't too bad. I think our rate was only 6-7 percent at the time, which on a 150 point contract was only a few hundred bucks over the year.

I was just wondering if rates have skyrocketed, along with everything else these days.