English please

[MomofDisneyLoversx3]

I have read many posts, threads, google searches, etc and am still confused. Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale. If there is already a thread in plain English a link to that would be great also.

Tia Heather

[DannysMom]

You can keep reading in this forum, pretty much everything about buying is eventually discussed. The Timeshare Store (board sponsor) Hassan informative FAQ too. http://www.dvc-resales.com/faq.htm

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

[Brian Noble]

Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale.

I know that if I ask this, I'll be That Guy, but if you don't understand the terms used in the process, are you sure you are ready to spend thousands or tens of thousands of dollars buying points, and many tens of thousands more on annual dues?

[DizBub]

Originally Posted by MomofDisneyLoversx3

I have read many posts, threads, google searches, etc and am still confused. Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale. If there is already a thread in plain English a link to that would be great also.

Tia Heather

In plain English....

Visit resale sites and find a contract that you like. You need to determine what resort, Use Year, number of points you require, etc.

You contact the resale company and make an offer on a contract. Negotiate if necessary and when a deal is reached you will get documents to sign. Send the docs back with a deposit, $500/$1000. Wait for the sellers to sign their documents and then the contract will get sent to Disney for ROFR. That takes 30 days, give or take. If Disney takes the contract through Right Of First Refusal you are done and you have to start all over again. Find a new contract and repeat.

If it passes ROFR then the contract goes through an estoppel process, get recorded with the County Recorder then is entered into the DVC system and then you are able to set up your account and book your first vacation.

If all things go smoothly the whole process should take 60 days.

[MomofDisneyLoversx3]

Thank you DizBub. That was exactly what I was looking for. I have actually read (and understood) the legalese for direct buy, but until starting to visit this area of the boards did not realize resale was a valid alternative.

[ELMC]

Originally Posted by MomofDisneyLoversx3

Thank you DizBub. That was exactly what I was looking for. I have actually read (and understood) the legalese for direct buy, but until starting to visit this area of the boards did not realize resale was a valid alternative.

This piece of information is very helpful. Think of it like this: as far as the process goes, buying direct and buying resale is fairly similar. The main difference between the two is that when you buy direct, the salesperson will try to steer you into a minimum point requirement, one or two resorts and possibly one or two specific use years. When you buy resale you can choose any amount of points (from what's available), any resort and any use year. What you sacrifice in efficiency (resale purchases typically take 2 months longer than direct purchases) you more than make up for in flexibility and savings. Helpful?

[MomofDisneyLoversx3]

And Brian -- yup, you are that guy. Thanks for the helpful reply.

[MomofDisneyLoversx3]

Thanks ELCM

We almost bought in (direct) instead of paying cash for our recent trip but didn't for a myriad of reasons. I'm glad I discovered resale so I can understand and evaluate all of my choices.
Funny the CM I talked to about DVC never mentioned resale

[DizBub]

Originally Posted by MomofDisneyLoversx3

Funny the CM I talked to about DVC never mentioned resale

And they won't. If you bring it up they will just try to scare you with the lame restrictions they have put on resales and rumors of more to come. Buy resale before any new set of resrtictions and you will be grandfathered into the current system.

[Missyrose]

Originally Posted by DizBub

And they won't. If you bring it up they will just try to scare you with the lame restrictions they have put on resales and rumors of more to come. Buy resale before any new set of resrtictions and you will be grandfathered into the current system.

I think it might be better to say that the hope is current owners would be grandfathered into any new changes. There remains a possibility that they may continue to use the March 2011 date as the way to separate restricted resale from non-restricted resale. Just don't want people to think being grandfathered in is a 100 percent guaranteed lock.

[DizBub]

Originally Posted by Missyrose

I think it might be better to say that the hope is current owners would be grandfathered into any new changes. There remains a possibility that they may continue to use the March 2011 date as the way to separate restricted resale from non-restricted resale. Just don't want people to think being grandfathered in is a 100 percent guaranteed lock.

Of course, you are right. Just because they grandfathered resales prior to March 2011 last time does not mean they will "do the right thing" again. Some of the stuff they've been pulling lately is making this painfully obvious.

Buyer beware, I guess.

[ELMC]

Originally Posted by Missyrose

I think it might be better to say that the hope is current owners would be grandfathered into any new changes. There remains a possibility that they may continue to use the March 2011 date as the way to separate restricted resale from non-restricted resale. Just don't want people to think being grandfathered in is a 100 percent guaranteed lock.

Originally Posted by DizBub

Of course, you are right. Just because they grandfathered resales prior to March 2011 last time does not mean they will "do the right thing" again. Some of the stuff they've been pulling lately is making this painfully obvious.

Buyer beware, I guess.

Hopefully Dean will step in with a legal opinion on this, but I tend to agree with these posts. I think that the precedent was set to restrict resales after 2011 and that these restrictions can include but are not limited to the restrictions set forth at that time. I do not believe that DVD will create new date marks each time they wish to introduce a new round of restrictions. I think that they will simply revert back to the March 2011 date.

[chalee94]

Originally Posted by MomofDisneyLoversx3

Funny the CM I talked to about DVC never mentioned resale

disney and their salespeople don't make any money if you buy resale, so yeah, they'd rather not encourage that sort of behavior.

[JimMIA]

Originally Posted by MomofDisneyLoversx3

I have read many posts, threads, google searches, etc and am still confused. Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale. If there is already a thread in plain English a link to that would be great also.

Tia Heather

In plain English, what part of it don't you understand?

[heynowirv]

Originally Posted by JimMIA

In plain English, what part of it don't you understand?

Jim,
Go back to sleep,i thinks she's all caught up now