When can I start calling?

[TLPL]

Hello everyone.

I have been reading about DVc here for a while now and I am SOOO ready to become a member. The only problem is --- Money. I have to finish paying back the 401k loan for the down payment of my house before I can borrow again to pay for DVC, which mean August. That's 3 months away from now! I have seen all the resale listings on different resellers, and found some good contacts comes and goes. I am so itching to pick up the phone to call them, but since I don't have the money now, I don't want to waste their time helping me. I know the resell process take 7-8 weeks or more to complete. My question to you all is -- when can I start?? Do I have to wait till I actully got the money before I start shopping? When in the resell process will they ask for the money? before the ROFR or after? or when you first make your offer? I feel like the shopper in that department store commerical with her face pressed against the glass door chanting "open,open,open"

 

[CapeCodFam]

We purhased our first contract via resale a few years ago.

You'll need a deposit (I think mine was 20%?) with the offer. The balance is due when you return the paperwork. Within a week or two? From there, your money is in escrow until you close or if you get ROFR'd.

I'd say give the Timeshare Store a call and ask what the best approach is. They are in the help business and I'm sure would be delighted to hear from you.

 

[disneynutz]

Shopping is easy, Learning is hard. Read everything you can about DVC. Search the boards for answers. Ask many questions. I am amazed at how many people buy when they don't fully understand the program. I spent months researching and I am still learning. Having your money available up front will make your buying experience less stressful. Remember, resale prices go up and down so take your time when searching for the best deal.

 

[CarolAnnC]

Have you considered buying direct through DVC? The down payment is more flexible and the qualifying process is quite easy. You could start with a smaller number of points and eventually add on via resale if you so desire once the expenses are in order.

Good luck!

 

[TLPL]

Yes I have considered both buy direct and reseller. I haven't decided which way to go. But still, I don't have money till August, all these window shopping is driving me crazy.

Do you think they will have any incentive for buying direct in August? I hate buying anything full price. Can they lock in the discount price for me if I call them now and request like a super long closing time?