what do you miss by going resale?

[dumbo_buddy]

The only exception I can think of is smaller packages where the retail price tends to be higher, availability is low (esp matching Use Years) and there is no closing costs through DVC.

you mean there are no closing costs for buying add ons through DVC, right? because there the closing costs for buying new from DVC is $325.

 

[Dean]

you mean there are no closing costs for buying add ons through DVC, right? because there the closing costs for buying new from DVC is $325.

Correct, I was trying to be more encompassing. You'll likely pay more in closing outside DVC than buying retail but not that much overall and in some cases it may actually be less, esp for a private sale.

 

[wbl2745]

Also, when my father-in-law died the week before another trip, she helped us get the points put back without going into a holding account.

I'm glad to hear that DVC has a heart. We just bought at VGC this week and that was one of the questions that my wife had, if there were to be a family or health emergency, would we be locked into the reservation or into the holding account.

 

[Mindy5767]

I'm glad to hear that DVC has a heart. We just bought at VGC this week and that was one of the questions that my wife had, if there were to be a family or health emergency, would we be locked into the reservation or into the holding account.

Hmmm based on what I am reading here, TSS is a reputable company and I should look into an add on with them in the future when I have the $$. Jason seems very knowledgable. I would love to add on some more points, but I'd probably want the same UY as I have otherwise I'd drive myself nuts keeping track of it all. One thing you probably can't do resale is buy into the newest properties. That is logical since it does take some time for buyers to become sellers. For instance, shortly, we will be able to buy into the new Hawaii property, but until its sold and people start reselling, it won't be available any way but retail.

I am wondering however, what sort of issues would a contract have that would cause it to be rejected during ROFR (other than transposed numbers and other "typo" mistakes?

 

[dumbo_buddy]

Hmmm based on what I am reading here, TSS is a reputable company and I should look into an add on with them in the future when I have the $$. Jason seems very knowledgable. I would love to add on some more points, but I'd probably want the same UY as I have otherwise I'd drive myself nuts keeping track of it all. One thing you probably can't do resale is buy into the newest properties. That is logical since it does take some time for buyers to become sellers. For instance, shortly, we will be able to buy into the new Hawaii property, but until its sold and people start reselling, it won't be available any way but retail.

I am wondering however, what sort of issues would a contract have that would cause it to be rejected during ROFR (other than transposed numbers and other "typo" mistakes?

definitely take a look at TSS's website! they have a bunch of properties will all sorts of use years!

also, there are BLT resales available but they aren't as cheap as some of the other properties.

i'm mostly afraid of ROFR by disney if they thinks it's too good of a deal. they might take it instead!

 

[Dean]

I am wondering however, what sort of issues would a contract have that would cause it to be rejected during ROFR (other than transposed numbers and other "typo" mistakes?

Besides technically incorrect info like names, addresses and the like, financial issue would hold up ROFR like the seller being behind on fees. IMO, the larger risk is that the points accounting isn't as expected.

 

[Sully]

We have purchased through Disney and resale. If it is an add on, Disney pays closing cost. We just added on a GCV this past week through Disney. They are not giving out the beach bags anymore. We have had great success with both.

 

[Jason@dvcstore]

I am wondering however, what sort of issues would a contract have that would cause it to be rejected during ROFR (other than transposed numbers and other "typo" mistakes?

1) The name of the sellers need to be correct. For example, if someone just put the sellers name as "Aaron Boone" but he didn't own that contract # or membership # it would be rejected. This is why The Timeshare Store, Inc.® obtains a copy of the deed.
2) If a divorced couple tried selling without having both names sign these would be rejected. For example, if Tom and Linda Jones were married and Tom tried selling without Linda knowing it wouldn't make it through ROFR. This is another reason The Timeshare Store, Inc.® obtains a copy of the deed so we know we need both from the beginning.
3) Sometimes, unfortunately, people are selling as someone in the party has died. Majority of times they haven't changed this with Disney, however, Disney would simply need a copy of the death certificate. Until they receive they will not move forward on ROFR.
4) The Timeshare Store, Inc.®, of course, has to obtain a Points Activity Statement from Disney to put the property on the market. Sometimes, sellers want to keep a reservation that is sometime far off in the future. For example, we might sell a property today but because of a pending reservation it can't close until 8/13/10. If that is not noted in the contract then Disney will not act on ROFR until an addendum signed by both buyer and seller is sent to them.

Jason

 

[Mindy5767]

Thanks Jason for your thorough response. I thought that mostly Disney was looking to prevent "dumps". Selling shares for very low distressed prices. This would devalue everyone's investment in my opinion. As an example, but not in the time-share market. We once bought a 1 acre lot on a subdivided working Texas ranch. We paid a premium price from the developer when the market was good. Years later, we had not had a chance to build upon the land, as some other had, and we wished to sell. There were so many foreclosures and distressed sellers that the percentage of sellers selling low was too high. We ended up selling for a fraction of our original price just to get rid of it, having already moved from the state. It was already paid off, we just wanted to be rid of it and didn't really care. We chocked it up to a bad investment. There was no "Disney" to buy it back or support a higher price. If Disney didn't have ROFR other people could do the same thing with the time-share.

Do you get many refusals because the sales price is too artificially low?