What do you consider a "large contract"?

[walkdmc]

I currently own 2 contracts for BLT. One I bought on resale 160pts. The second I added on 50 points directly with Disney. Now, I'm considering adding 100 points via resale. I'd like your opinion on whether a 100 point contract for BLT might be easy to sell if the need arises. There is a particular contract I'm considering hence the 100 pt. add-on and not another 2-50pt. contracts through Disney.

 

[edk35]

We own four 100 point contracts. I think 50's are good especially if you want to sell one off one day. We would not go above 100.

 

[JimMIA]

For reselling, anything below 150 should sell pretty easily, and for a little higher price than larger contracts.

Whet's a LARGE contract? To me, it's anything above 500 points, but that's obviously subjective. I think a lot of people have contracts in the 300-500 point range.

 

[Nparrotte]

For reselling, anything below 150 should sell pretty easily, and for a little higher price than larger contracts.

Whet's a LARGE contract? To me, it's anything above 500 points, but that's obviously subjective. I think a lot of people have contracts in the 300-500 point range.

I agree totally. DW and I have 3 contracts 150 100 and 25, (the 25 was an impulse buy with some bonus money). I think if you have multiple small contracts you have a way out if you find yourself not traveling as much as you thought you would or you run into some financial trouble and have to sell one off.

 

[JimMIA]

The downside of several small contracts is that there is some management required...even if they're all the same UY.

We recently had a situation where a ressie took more points than one contract had, so MS borrowed rather than taking current year points from another contract in the same account. It took three phone calls to get that mess straightened out.

 

[hellerjw]

I also agree that anything less than 150 points is easier to sell, ideally 100 pts or less. To give you an example we recently wanted to scale back from the 400 points we owned at AKV and had (1) 200 pt contract and (2) 100 pt contracts. The (2) 100 pt contracts sold within 2 weeks of us listing them, whereas, the 200 pt contract took 3 months to sell. Since then we have been purchasing all our contracts in 50 pt increments just on the chance we have to sell off some in the future.

 

[BeesKnees]

So, if I am to understand this, you can't break up a contract?

Since we are discussing it and I have no idea how it all works... is my contract worth less now that I am 10 years in? I believe my contract life is 40 years so it only has 30 left.

Is it possible to do a straight up trade if I wanted? Exchange my 300 VWL for a 300 OKW? If I did that am I subject to the contract life of my trading partner or is there a reset somehow?

 

[Sammie]

So, if I am to understand this, you can't break up a contract?

Since we are discussing it and I have no idea how it all works... is my contract worth less now that I am 10 years in? I believe my contract life is 40 years so it only has 30 left.

Is it possible to do a straight up trade if I wanted? Exchange my 300 VWL for a 300 OKW? If I did that am I subject to the contract life of my trading partner or is there a reset somehow?

You can not break up an contract. You also can not exchange your home resort for another.

Have no idea about worth, that seems to go up and down like the stock market does.

 

[dianeschlicht]

So, if I am to understand this, you can't break up a contract?

Since we are discussing it and I have no idea how it all works... is my contract worth less now that I am 10 years in? I believe my contract life is 40 years so it only has 30 left.

Is it possible to do a straight up trade if I wanted? Exchange my 300 VWL for a 300 OKW? If I did that am I subject to the contract life of my trading partner or is there a reset somehow?

That's not possible. You would have to sell one and buy a new one at the other resort.

 

[DenLo]

So, if I am to understand this, you can't break up a contract?
No a contract cannot be broken up into smaller increments. If you want sell it, you sell the entire contract. That's why people recommend if you want to buy 300 points to get it in 3 - 100 point contracts.


Since we are discussing it and I have no idea how it all works... is my contract worth less now that I am 10 years in? I believe my contract life is 40 years so it only has 30 left.
If you click on the ad at the top of the page for the TimeShare Store you can see a list of contracts for sale. VWL contracts have been listed any where between $59 to $74 per points. More money for smaller contracts as they are more in demand. I don't know what you paid 10 years ago so can't tell if your contract is worth less. But do keep in mind after staying at WDW for 10 years you've definitely gotten your money's worth and have a good chance of selling and recovering a lot of the money you invested.


Is it possible to do a straight up trade if I wanted? Exchange my 300 VWL for a 300 OKW? If I did that am I subject to the contract life of my trading partner or is there a reset somehow?

Not to my knowledge, since any contracts that sold or given have to go through ROFR (right of first refusal by Disney), Disney may or not approve of such a trade.

Perhaps others can give you better advice about a trade.

 

[Greatfalls]

A good indicator is to look at the Timeshare listings. 160 seems to be a threshold for how quickly things sell. There are relatively few listings under 100, and those tend to sell quickly. In the 100-150 range, there are a few more listings, but those probably eventually sell but somewhat less quickly than the double-digit listings. When you get to 160 and above, that's where you see more listings, lower prices, and listings stay on there for a long time.

 

[disneynutz]

The downside of several small contracts is that there is some management required...even if they're all the same UY.

We recently had a situation where a ressie took more points than one contract had, so MS borrowed rather than taking current year points from another contract in the same account. It took three phone calls to get that mess straightened out.

This happens to us all the time, JimMIA is correct it does take extra management. The upside, depending on what Disney does, makes a 50 point contract desirable. We sold a 50 pointer last week, the same day that it was listed.

Bill

 

[BeesKnees]

How would I know looking at those listings how long they have left or do I assume they purchased around the same time I did? Depending on the brokerage fees and closing costs it looks like I would come out close to even. But then if I purchased at OKW I might only be getting a 20 year contract. I am not sure I need more than 30 but 20 falls short

 

[Greysword]

Legally, I think you would be able to trade your deed to another person for theirs, since it is the same as a home. As mentioned, there are a couple of concerns, though:

1) We do not know how DVD will handle their ROFR on such a transaction. They would likely let it through, though, since it does not devalue any of the properties.

2) You would need to find an owner willing to trade. The trick is that one property is likely worth more than the other.

3) You would want a real estate attorney or title agency versed in DVC transactions to help, since this is way out of the normal transaction. Thus, this would add some costs you may need to incur.

4) Both parties would need to own their points outright, with no lien against them.

That said, I bet such a swap (or transfer) has happened sometime during the life of the Disney Vacation Club.

 

[BeesKnees]

The contract life would be the main concern for me. I probably would not be interested in a trade as long as OKW is fairly easy to book at 7 months. If the DVC membership keeps swelling though that might change. Some of the new AKV and BLT owners will eventually fall in love with OKW just like we did.

 

[JimMIA]

How would I know looking at those listings how long they have left or do I assume they purchased around the same time I did? Depending on the brokerage fees and closing costs it looks like I would come out close to even. But then if I purchased at OKW I might only be getting a 20 year contract. I am not sure I need more than 30 but 20 falls short

OKW expires in 2042 (32 years by my watch) or 2057 if the owner extended.

 

[JimMIA]

The contract life would be the main concern for me. I probably would not be interested in a trade as long as OKW is fairly easy to book at 7 months. If the DVC membership keeps swelling though that might change. Some of the new AKV and BLT owners will eventually fall in love with OKW just like we did.

Availability at OKW depends greatly on when you are trying to book, and what size accommodations you need.

From Thanksgiving until New Years, you will need the full 11-month home resort booking window -- and you might not find anything at 10 months, much less 7. That's the busiest time of the year for OKW.

Also, for the 3 BR Grand Villas anytime, you will need the home resort booking window. Yes, there have been isolated cases where someone has lucked out -- but generally you'll need home resort for a Grand Villa.

In addition, if you are planning a group trip and need multiple villas, the home resort booking window will be very helpful.

The same is true of SSR, although regular villas (studio, 1 BR and 2 BR) are generally more available at SSR than at OKW in the seven month window because it is a bigger resort.

 

[BeesKnees]

OKW expires in 2042 (32 years by my watch) or 2057 if the owner extended.

That is good. I have to tell you I wouldn't mind owning where we feel most at home. I can see many difficulties making that happen but it is a pleasant thought.

 

[BeesKnees]

Availability at OKW depends greatly on when you are trying to book, and what size accommodations you need.

From Thanksgiving until New Years, you will need the full 11-month home resort booking window -- and you might not find anything at 10 months, much less 7. That's the busiest time of the year for OKW.

Also, for the 3 BR Grand Villas anytime, you will need the home resort booking window. Yes, there have been isolated cases where someone has lucked out -- but generally you'll need home resort for a Grand Villa.

We have never tried to go to Disney during that window. It is usually right before or a few weeks after. The grand villas don't interest us. Even when we take people with us I prefer they have their own rooms.

However, it is sad to know that if we ever wanted to go during that window we would probably not have a shot. It is not like staying elsewhere is the end of the world it is just OKW will always be our first choice. We have stayed there more than anywhere else.

 

[smjj]

We have two contracts for a total of 230 points. They are same use year/same resort. Disney shows the two as the same contract number but with a ".001" on the second smaller one. I was told in situtations like this they are called master/slave. They are treated as one and in the past it has not been a problem scheduling dates, they are just treated as one larger contract...smjj