what do i need to know about resells?

[bellebud]

we're thinking of buying into DVC, and i think i'd like Beach Club as our home resort, so i realize i need to buy resell. i'm also thinking i'd like wilderness lodge as our home resort too (we will probably do 2 week trips once a year and probably want to split them), so i'd like to have the 11 month window for both resorts. is that a practical thing to do? of course i'd like to convince dh to do more trips a year, but i'll start with this

anyway, in looking at the resell listings, is it as straightforward as it seems? price per point and amount of points and total price? anything else i need to know and compare? i see that both resorts i'd like aren't very common in reselling.

we're going to DW this coming april and have a regular room at WL booked as well as a 1 bedroom BCV booked (splitting up 12 days with the 2 resorts)... so i guess it's good that i'll really see if that's where we'd like to be. but i feel like it's such a waste of money this trip, now knowing that we'll be going at least once a year... if i put together the money we spent on our last 2 trips and this coming one, it would probably almost be the cost of 200 points. but i don't think there's any way for me to buy now quickly and still get our rooms... i don't want to give up my 1 bedroom BCV. i was told that disney won't 'transfer' my reservations from 'regular person' to dvc... what difference to them does it make whether i pay for the room with cash or points? is there somewhere i should call to ask if i could be a DVC member and keep my reservations and switch them? knim???

oh, and dh i think is a little nervous about buying resell instead of directly from disney, but from what i see here and another place, there are 2 reputable places i can do this through and not worry. is that right?

ok, thanks for any info!! Liz

 

[Deb & Bill]

A DVC reservation comes out of different inventory that CRO reservations. Disney has about 5% of the room inventory to sell to guests, plus the inventory they gain from members trading out to other Disney ventures (Disney Cruise Line, Disney resorts, etc). So, no, they can't transfer your reservation and change it to points.

We own at OKW, BCV and VWL so we can get the 11 month advantage for getting our reservation at busier times.

One of our contracts is a resale that we bought from one of the DIS members who owns a resale company. She often has different contract available.

BCV and VWL are both smaller DVC resorts, so resales may be harder to get. Contact some of the resale companies to let you know if something comes up. They may go quickly, like the smaller point resales often go quickly without advertising.

You can offer less than the owner is asking when purchasing a resale. Talk to the agent to get some help.

 

[Granny]

Originally posted by bellebud


anyway, in looking at the resell listings, is it as straightforward as it seems? price per point and amount of points and total price? anything else i need to know and compare? i see that both resorts i'd like aren't very common in reselling.

Liz....buying a resale DVC contract is pretty straightforward, but there are some things to be aware of.

1. You absolutely need to know the status of the points on the contract. Have they used the 2004 points already? Have they banked points from last year that have to be used by the end of the use year? Have they borrowed points from next year and used them already? As you can see, a 200 point contract could have anywhere from 400 to 0 points available to you right away. And worse case they could have borrowed all the 2005 points and used them already and you would have to wait until 2006 to get the points! Obviously, the lack of usable points right away should diminish your price you are willing to pay.

2. Resale contracts have closing costs...in the $400-$500 range for the most part. For a 200 point contract, that's $2-$2.50 a point more you are paying, so you need to keep that in mind.

3. It is negotiable as to who pays what as far as maintenance fees, etc. So be sure not to pay on any points you might not be able to use. Also, you might have the seller pay the maintenance costs on the points you can use this year in order to justify a slightly higher selling price....which in turn makes it easier to clear ROFR.

4. ROFR = Right of First Refusal. Disney has the right to swoop in and buy a contract from a seller after you've agreed on a price. So if a price is too low, Disney buys it from the seller at that price and you're out of luck.


We bought a resale contract, saved a good amount of money and most importantly bought at a place (BWV) that we really want to stay at a lot. It's an easy process, but it does have a few more complications than going direct through Disney.

Good luck!