Which company would you buy a resale from?

[NickP33]

Its not as expensive as you think. There are no closing costs or other charges when you buy from Disney for any of the older locations (SSR and AKV have closing costs). Couple this with the risk of right of first refusal Disney has for the really low cost resale and "stripped contracts" (where you get no points for the first year) - and you'll probably only a $4-$6/pt difference. Not a lot for the Disney convenience (much faster, more flexible payment options, etc).

With that said - we are currently waiting in ROFR for a BWV contract through the Timeshare Store... so we did make the decision to try and save $2000.

Chris

I am actually looking at BWV too. How much did you bid for if, I may ask?

 

[Snow Shoe]

We have bought and sold several DVC contracts through the Timeshare Store. They are a wonderful group of people to deal with. Our saleperson for all of it was Jason Erpelding. I highly recommend them.

 

[Budshark]

I am actually looking at BWV too. How much did you bid for if, I may ask?

$83/pt and we paid closing and 07 Maintenance Fees.

There is a thread called "Anyone made it through (or not made it through) ROFR lately"? that is a little further down the tree in this forum. If you go to the last pages of that thread you'll get recent activity and get a very good idea of what people are paying - and what Disney is exercising Right of First Refusal on.

Chris

P.S. Snappy - yes still waiting. And waiting. Really hoping to hear something today, but with the holiday I'm expecting end of next week.

 

[Uno]

I bought my add on through ***********. ******** , the owner was wonderful to work with and the whole transaction was completely painless. My add on was for only 25 points and I had the ability to pay for it with cash so I didn't have to finance it.

 

[maminnie]

Does anyone know what the current fees are for selling and buying through the Timeshare Store?

Thanks,
maminnie

 

[snappy]

$83/pt and we paid closing and 07 Maintenance Fees.
P.S. Snappy - yes still waiting. And waiting. Really hoping to hear something today, but with the holiday I'm expecting end of next week.

Whoops, I did not think of it being a holiday weekend. Sorry you are still waiting. Please post when you hear!!

 

[Delaware Mike]

Please know I am not trying to stir the pot with my post, but only providing my opinion. My Nomex suit is currently in the dry cleaners, so go a little easy on me, okay?

I tried to use TTS last year....twice. Neither time did the contract efforts work out, not because of ROFR but because of other things. I've posted elsewhere about what happened, and how upsetting the entire relationship was, so I'm not about to rehash history nor pick at old wounds. Tom and I exchanged emails about the entire thing, so all is right with the world. What's behind us remains behind us...I've moved on.

I'm sure some will think, "there goes Mike again, prattling on about GMAC", but I do feel strongly about how good things went with their representation.

I had absolutely no problem whatsoever with International Properties GMAC Real Estate.....none. They were extremely easy to do business with, the quality of their work was outstanding, everytime I had a question it was answered within a very reasonable amount of time, and I paid what amounted to $81 per point for SSR plus MF reimbursement and closing. Every part of the deal met the time deadline; nothing was late. Closing was scheduled to take place on a particular date, and it did.

Realizing GMAC now has an administrative fee of $195.00 per contract, and that hurts those looking for small contracts, but I would still go with them. They were that impressive with their representation, in my opinion. I'm currently looking for a 50 point add-on, and when "that perfect contract finds me", I'll give GMAC my business. No question about it...

Establishing a relationship of any kind takes time, commitment, understanding and trust. My wife and I have come to experience an excellent relationship with our GMAC agent. But establishing this type of relationship is a personal thing...everyone decides for themselves. I only hope whoever one decides to trust for a resale's agent has the same outstanding experience we had.

Okay, I've had my say so I'll slink back on over to the ROFR thread. Thanks for listening.

 

[snappy]

I for one am glad you posted about your experience, Mike. I have never been a "koolaid drinker," I prefer to get the straight scoop.

Did your NOmex suit get wet in the flood?

 

[Buckeye Fan]

A friend purchased through TTS and had a great experience. DH and I purchased through Jackie at GMAC...WONDERFUL experience. My BIL/SIL bought a contract through disneyvacationclubresale.com through **** ***** and had a positive experience.

If you're buying resale, just make sure you understand all fees, UYs, points associated with the contract (some come with prior year points and others have no points until 08).

 

[Caskbill]

... $81 per point for SSR plus MF reimbursement...

I'm curious about the MF reimbursement you paid, as I find most people do not really understand how this works.

Disney charges MF on a calendar basis, NOT on a use year basis. I've heard people say they bought a contract, for example, with an October UY, and if it was a case of no 2006 points and all 2007 points, they reimbursed the seller for the all the dues they paid in January 2007 because they were receiving all the 2007 Use Year points.

This of course is wrong. Dues are calendar year. When purchasing direct from Disney, calendar years are pro-rated based on how many months are left in the year. Many sellers forget about this offset when they go to sell the contract, and think dues for a calendar year apply to the use year instead.

In the above example, the dues paid by the seller on January 2007, when applied toward actual points, would be for 9 months worth of UY 2006 points and 3 months worth of UY 2007 points. This is because when comparing Use Year to Calendar Year, for an October UY, 2006 points go from Oct 2006 thru Sep 2007, and 2007 UY points go from Oct 2007 thru Sep 2008. Thus the correct dues reimbursement would be 1/4 of the total dues paid in January 2007. Basically pro-rating the year's dues for the months remaining. 9/12ths of those dues paid applied to the 2006 points, and 3/12ths apply to the 2007 points. Many sellers and some brokers do not understand this.

If points are banked, or points are borrowed, the reimbursement of MF's can be calculated by assigning use year points equally to each month for 12 months, seeing what points are still available, and what calendar year they proportionally apply to.

Finally, in the above example, if the October UY were purchased, and all 2007 points were still available, AND all 2006 points were banked, then the fair deal would be to reinburse the seller for 100% of the dues paid January 2007, AND to reimburse for 25% of the dues paid January 2006.

If the opposite were true, and the seller had no 2006 points, no 2007 points, and nothing until Oct 2008, the seller should receive no reimbursement, and instead should credit the buyer for 9/12ths of the dues the buyer will have to pay in January 2008 for dues for calendar year 2008, since 9/12th of that calendar year applied to 2007 UY points, which the seller already used.

 

[Amy5000]

Please know I am not trying to stir the pot with my post, but only providing my opinion. My Nomex suit is currently in the dry cleaners, so go a little easy on me, okay?

I tried to use TTS last year....twice. Neither time did the contract efforts work out, not because of ROFR but because of other things. I've posted elsewhere about what happened, and how upsetting the entire relationship was, so I'm not about to rehash history nor pick at old wounds. Tom and I exchanged emails about the entire thing, so all is right with the world. What's behind us remains behind us...I've moved on.

I'm sure some will think, "there goes Mike again, prattling on about GMAC", but I do feel strongly about how good things went with their representation.

I had absolutely no problem whatsoever with International Properties GMAC Real Estate.....none.

Mike: Thanks for sharing that. I've had no experiences with TTS, so its good to understand where you are coming from. Frankly, bad experiences could sour me also so I will take that into account as to you preference for GMAC despite the fact that they are more expensive. They gave you good service after you'd had poor service from another vendor and that can significantly impact a persons feelings about a vendor. (Hey, I often go to the more expensive grocery store for similar reasons).

Of course, two customers can have wildly different experiences at the same vendor. (Kind of like the person who went to SSR and the buses were fabulous and the next person goes the next weekend and had to wait forever for the bus).

I suspect that most of the brokers who specialize in DVC resales provide pretty decent service (with a few problems here and there). While the closing fees vary, even those can be negotiated by calling the title co directly.

As a note to the OP: I will say that I don't love GMAC's site listings b/c they don't list use year or info re banked, available or borrowed points, as most of the others specializing in DVC resales do. But if you see a contract that looks like what you want, I would let the $195 admin fee get in my way.

 

[Delaware Mike]

I'm curious about the MF reimbursement you paid, as I find most people do not really understand how this works.

Hi Bill,

As always, you provide an excellent presentation and explanation.

With our particular contract, it has an October UY and we went to settlement in November 2006. As the seller had banked the 2005 points and all 2006 points were available, we (probably incorrectly) thought a "full" reimbursement was warranted. Also, the UY entered into our decision as it was the month we really wanted. We felt providing a full reimbursement was the fair thing to do, the contract was exactly what we wanted, and, given the information below, allowed everyone to "win".

In my opinion, a full reimbursement also helped us clear ROFR. Our offer was $81.00 for a contract having 120 October UY points. This low amount would clearly be taken by Disney, as the ROFR "floor" at that time seemed to be $85.00. Instead of reimbursing the seller's MF in addition to paying $81.00 per point, we added the point price and the MF reimbursement to increase our offer to $84.96 per point. (The contract read MF reimbursement was "included".) Also, since the sales agency is paid commission by the seller based on contract value, we added about $0.40 per point commission to the $84.96 to bring our offer to a dollar amount above $85.00. (I think the final total was $85.36 per point. We worked with the salesperson to determine the additional commission, based upon the then-current commission rate. My wife and I were changing the complexion of a standard contract, so we, as buyers, thought the added commission burden was ours to shoulder.)

Since we were reimbursing the MF anyway, we used that dollar amount to help push the per point price above the ROFR floor.

Anyway, this is a long winded answer to your question, but I thought it a good discussion for others to consider. As smarter folks than I have always said, "everything is negotiable" with contracts.

 

[Amy5000]

Caskbill: That was a very interesting explanation of Use Year vs. Membership Fee Years. I guess it's based on how Disney does it if your buy direct from Disney. Although when I think about it, it makes sense to just apply the calender year's allotment to the points that come in that calender year, despite how Disney does it. (Amy I totally wrong?). Also, just a totally off question: since SSR's last allotment comes in 2053, will they have to pay dues in Jan. 2054?

Amy

 

[Caskbill]

...
With our particular contract, it has an October UY and we went to settlement in November 2006. As the seller had banked the 2005 points and all 2006 points were available, we (probably incorrectly) thought a "full" reimbursement was warranted. ...

If you purchased in November 2006, got all the 2006 points and all of the 2005 points, then full reimbursement of the dues paid January 2006 was definitely warranted. You actually got a little better deal because the seller actually paid some of the MF's for 2005 points that were applicable to calendar year 2005, but you got the points.

Sounds like you did your research and worked out a very fair deal for everyone. As you said, it'a sll negotiable.

 

[Caskbill]

Caskbill: That was a very interesting explanation of Use Year vs. Membership Fee Years. I guess it's based on how Disney does it if your buy direct from Disney. Although when I think about it, it makes sense to just apply the calender year's allotment to the points that come in that calender year, despite how Disney does it. (Amy I totally wrong?). Also, just a totally off question: since SSR's last allotment comes in 2053, will they have to pay dues in Jan. 2054?

Amy

Yes, you're wrong. Dues apply to the calendar year only, not to a use year at all. But when it comes to buying and selling contracts, the use year can be projected onto a calendar year, and the proportion of the use year's points that are applicable to the specific calendar year can be determined.

To say that the dues paid for calendar year 2007 pays for the points everyone has for their 2007 use year is incorrect. If you had an October Use Year for example, paid your 2007 dues, but did not pay your dues January 2008, and try to make a reservation for March 2008, using your 2007 points, saying you had already paid the dues for those points, you'd find out Disney wouldn't let you. The 2007 dues you paid were good through Dec 31, 2007. Dues for 2008 were not paid, even though you want to use 2007 Use Year points.

This concept is often confusing and people just seem to want to think things like dues paid for 2007 were for their 2007 use year points. It doesn't work that way. It might be easier to understand if you look at someone who is paying their dues on a monthly basis rather than all at once. Each month they pay dues, they're paying toward the use year points that would be applicable for that month. Thus with a June use year, paying April or May's MF's would apply to 2006 UY points, and then when they start paying June's and July's MF's, they would apply to 2007 UY points. Personally I think DVC screwed up when they gave away the full allotment of current UY points with every contract. They would have been better off if they prorated the points for the remainder of the use year, in a similar manner that they prorated the dues for the remainder of the calendar year. It would have been much more clear that way. Just my .02

As to your other question, no one knows for sure how Disney is going to do it. Many believe resorts will be frozen and you will only be able to use points at your home resort the last year or so. It's also unclear how points will be assigned. I personally think it'll be similar to what happens when you first purchase a contract, but in reverse. Just for ease of explanation, let's say there's a 120 point contract at SSR. If someone purchased a June UY today, they'd get full 2006 points, even though it's well into that particular UY. Technically they should only get what's left of the UY, so March/April/May would mean they should only get 30 2006 points, and then get their full 120 2007 points on June 1st, 2007.

Since the original purchaser gets those points up front, I believe Disney's going to have to take them back back at the end of the contract.

Thus in 2053, the June UY owner would not get their full 120 points, but would get 80 points (for the months June-Jan 2054, 8 months at 10 pts/month)

As for dues, in January 2054, dues should be for 1-month only, or 1/12th of the annual dues. Because dues cover the calendar year, and 2054's calendar year will only be 1-month.

 

[drusba]

As to original post, I have bought through both the Timeshare Store and Jaki Apetz at atimeshare and both are to be commended as being professional, knowledgeable, and work hard to make it a pleasant transaction.

 

[JimC]

I have had three transactions with The Timeshare Store -- 2 purchases and 1 sale. I can easily recommend them. I have researched others but TTS has the best record of any that I have seen for DVC.

 

[Slakk]

I have had three transactions with The Timeshare Store -- 2 purchases and 1 sale. I can easily recommend them. I have researched others but TTS has the best record of any that I have seen for DVC.

I just sold thru TTS (in ROFR now) and it has been easy so far - no complaints.

 

[Trebor]

As to original post, I have bought through both the Timeshare Store and Jaki Apetz at atimeshare and both are to be commended as being professional, knowledgeable, and work hard to make it a pleasant transaction.

I too used Jaki Apetz at atimeshare and had a good experience -- very good communications.

 

[MojitoMiss]

I had absolutely no problem whatsoever with International Properties GMAC Real Estate.....none. They were extremely easy to do business with, the quality of their work was outstanding, everytime I had a question it was answered within a very reasonable amount of time, and I paid what amounted to $81 per point for SSR plus MF reimbursement and closing. Every part of the deal met the time deadline; nothing was late. Closing was scheduled to take place on a particular date, and it did.

I second this. I would have used TTS, but GMAC had the contract I was looking for at BCV--correct number of points, use year, etc. I considered remaining on the TTS waitlist, but in the end decided that $195 was worth it to get my points quickly without an open-ended wait.

Having said that, I would use either of these companies again to cure my addonitis, and I've heard good things about Jackie Apetz as well. IMHO, those seem to be the best 3 of the bunch, at least as far as public opinion on the DIS.