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What are the drawbacks to buying resale? The only thing I can think of is the fact that you have less time over the life of the deed, i.e. I would love to buy at WL and it will expire in 2047, I believe, so I'm looking at less time than if I bought at BLT expiring in 2060.
Give me some tips. After our last trip we're really thinking of buying!
Resale is a great money saver. Last I checked, many folks have listed their DVC memberships (I can only speculate on why, but the economy probably has a great deal to do with it).
Resales are just like buying a home, the price IS NOT fixed. You can lowball and otherwise negotiate a price, don't let anyone tell you that you can't. If I were in the market, I would do this. Find a few that you like, point wise, and submit a bid. Make it low... If the seller is desparate enough, they may take it. If they do, Disney still have to "approve" it, BUT if they don't, Disney must buy it at your price. Disney is having a tough time selling what they have, so I would be surprised if they buy a lot back. If after a few tries, this doesn't work, then up your price...
As far as membership goes, there is no difference to Disney if you buy from them or resale in terms of your rights/perks, etc.
Make sure you know what you're bidding on. I've seen some people clean out a membership of points for a year or two and then try to sell them, they are worth much less than a loaded property.
Finally, buy whewre you want to stay. The 11 month booking window is getting to be VERY important. I think SSR really did the damage to that since a lot are trying to stay outside of there, and it's the biggest (or one of) the biggest DVC properties.
you also don't get any incentives that Disney might be offering.
I bought a small add on through resale a few months ago and it was sooo easy!
But, even with the incentives, buying from Disney is usually substantially more expensive the buying resale.Quote:
Originally Posted by LoriSan
As far as wanting a longer contract...remember that they offered 15 yr extensions at OKW (the oldest DVC property) a yr or so ago. I am sure they will do the same at some point in the future for the other DVC properties.
I think this is a certainty... Having to resell all those contracts has got to be a daunting task. Getting people to ante up a little more again probably easier than assuming the ownership again.Quote:
Originally Posted by hubbyofadisneyholic
I would agree since the 15 year extensions only add on the cost of annual Dues. But at some point in time they will have to get new buyers for older resorts.Quote:
Originally Posted by DizneyRox
So there was no extra cash involved just the annual dues to extend??Quote:
Originally Posted by seanyred
Even though that's not a guarantee that makes me feel a bit better about WL.
I called Disney direct and they're pushing AKL right now. We just came back from there last week and honestly, I didn't love it enough to make it my home resort and as someone else said even with the incentives it's still more than buying a resale.
Thanks for answering the question about making an officer, I wondered about that too!
Yes there was a fee of $15/point IIRC. That was why we decided not to do it. It didn't make sense to give Disney $3600 (in our case) now for something that we wouldn't derive any benefit from for over 30 yrs.Quote:
Originally Posted by A&M'sMommy
Actually, our daughter would be the one deriving the benefit since realistically I don't figure to be here in 2042. ;)
True, but I guess it's nice to have the option. I feel that way with our kids. When WL ends, it won't be about us, I guess it'll depend on where my kids stand at that point, it's just nice that there might be an option there....
Obviously I stand corrected. I misunderstood how the extension was offered. At any rate at least is a relatively inexpensive option if you want to pass it on to son or daughter.Quote:
Originally Posted by hubbyofadisneyholic
I know your original question asked about drawbacks of buying resale. Actually there aren't any since you do have the option of buying new. I will point out a couple of big advantages-- you can choose your resort, even if Disney lists it as sold out. You may be able to buy less points if you can't afford what Disney is selling, which I think right now is 160 points. The main drawback you have to watch for on resale is some people have used up the points for the coming year, but that is clearly stated in the contract. We bought 100 points at the Beach Club, which was a lot cheaper than we would have had to buy new and we got our favorite resort as our home resort. And yes, we went through the Timeshare Store with no issues or problems at all.
I purchased resale through the Timeshare Store and it was very easy and everything is out there. It's been a while since I went to their site because I'm not in the market, but they have a page where they list everything they have available. It's easy to just look through it and find what you're looking for.
Plus, much less expensive than if I bought directly through Disney.
Well, I think everyone confirmed what I thought, I just needed to "hear" it!!
Thank you all and hopefully this time next year we'll be owners.