[DisneyTeacher]

Originally Posted by TaraRae82

Interesting. Are the prices going to be pretty comparable buying directly through DVC as buying through a resale company after closing costs and such? I hate the thought of closing costs as well. That's just more money up front!

I did the math when we bought in and it was only a tiny bit better to buy resale compared to buying through DVC. By the time we added in closing costs it was pretty close. We also got the current points, a lot of the contracts up for sale won't have the current use year of points and many have points borrowed from the next year as well.

When we bought in last year there were no closing costs on sold out resorts when you go through DVC.

We also didn't have to wait for ROFR and all the other stuff. It was worth paying a little bit more to not deal with that, we were in the system the day our points came through. We could have booked a reservation that night had we wanted to.

[leslieh]

Originally Posted by WishUponAStar

OH wow, I had no idea they can find you something so quickly. If that's the case then I think I would definately do it through Disney. I would not want to pay any closing costs or have to sweat out a "Right of Refusal" through a resale company.

My guide actually found us 200 points at BCV in 3 days!!

[KingOMiami]

A caveat to my post yesterday....we bought resale because we could not afford the minimum buy in that Disney requires. For us the closing costs were worth it for us because we bought a 50 point contract. At the time the minimum buy in for Disney was 150 points. $10k difference made it a no brainer for us.

If you are able to afford to buy direct through Disney, by all means go for it. As rlcarmichael put it, once you are in you are a full member regardless of the number of points. For adding in, we would most likely go direct through Disney for the future. Although it will be a long time away before we add on.

Either way, if you do have questions about resale, I am here to help as best I can

[TaraRae82]

Originally Posted by KingOMiami

A caveat to my post yesterday....we bought resale because we could not afford the minimum buy in that Disney requires. For us the closing costs were worth it for us because we bought a 50 point contract. At the time the minimum buy in for Disney was 150 points. $10k difference made it a no brainer for us.

If you are able to afford to buy direct through Disney, by all means go for it. As rlcarmichael put it, once you are in you are a full member regardless of the number of points. For adding in, we would most likely go direct through Disney for the future. Although it will be a long time away before we add on.

Either way, if you do have questions about resale, I am here to help as best I can

Good to know! The minimum point thing could be an issue for us too simply because I doubt we'll use them all! And, I'm going to have to do some fast talking to get DH to agree in the first place! He'd be much more likely to go for 100 points than 160!

[MissDisney]

Tara -- I have no idea how big of an issue it is, but I understand that DVC does stop resale contracts if they are too beneficial. I am sure someone will pop in here and say whether it is a big deal or not.

[KingOMiami]

That is the ROFR I had mentioned before. If someone is selling for too low a price, Disney has the option to buy the contract back for that amount and then they can turn around and sell it for whatever going rate they have.

[iluvwdw]

I bought my contract directly through Disney. Be advised that there ARE closing costs for new contracts now. But it's only about $300...something like that. We went through Disney because we wanted BLT.

As for resale, you can get a great deal if you watch the resale sites for a while and also check DVC boards for sightings and what Disney has exercised the ROFR on. SSR is passing ROFR at $65 a point! I have seen contracts that are LOADED for around that price at SSR...which means it has some points banked, you will get current use year points and all points will be available to you next year.

Just do your homework. Know what's being offered out there. Any questions, PM me. I watch resale sites and other boards CONSTANTLY. I started with 320 points but I have a feeling we'll add on more eventually.

[DisneyTeacher]

Originally Posted by iluvwdw

Be advised that there ARE closing costs for new contracts now. But it's only about $300...something like that.

Closing costs are pretty low through Disney, that's nice. We bought a sold out resort so there were no closing costs, I don't know why but it sounded good to me.

[TaraRae82]

Originally Posted by DisneyTeacher

Closing costs are pretty low through Disney, that's nice. We bought a sold out resort so there were no closing costs, I don't know why but it sounded good to me.

So there aren't closing costs on contracts purchased on sold out resorts as long as it's directly through Disney?

[leslieh]

Originally Posted by TaraRae82

So there aren't closing costs on contracts purchased on sold out resorts as long as it's directly through Disney?

That's right!

[DisneyTeacher]

Originally Posted by TaraRae82

So there aren't closing costs on contracts purchased on sold out resorts as long as it's directly through Disney?

That's what we were told and we didn't pay any going through DVC.

[iluvwdw]

Originally Posted by DisneyTeacher

That's what we were told and we didn't pay any going through DVC.

It MIGHT have changed since you bought. There were originally NO closing costs through Disney. Now they list it as recording fees, or County Clerk fees...something like that. I was told that all first time contracts have a minimal closing cost now. I never specifically asked about buying a sold out resort, though. What's great is if I ever buy another contract through Disney, there won't be any closing costs.

[DisneyTeacher]

Originally Posted by iluvwdw

It MIGHT have changed since you bought. There were originally NO closing costs through Disney. Now they list it as recording fees, or County Clerk fees...something like that. I was told that all first time contracts have a minimal closing cost now. I never specifically asked about buying a sold out resort, though. What's great is if I ever buy another contract through Disney, there won't be any closing costs.

That's pretty close to what our guide told us last year. She said new/current resort had closing costs and described about what you just said but sold out resorts resorts didn't have those costs. I don't know how it works now but that's what we were told last year.

[iluvwdw]

Originally Posted by DisneyTeacher

That's pretty close to what our guide told us last year. She said new/current resort had closing costs and described about what you just said but sold out resorts resorts didn't have those costs. I don't know how it works now but that's what we were told last year.

Maybe there are no closing costs with old resorts, because there weren't closing costs for those resorts when they were actively selling???

[DisneyTeacher]

Originally Posted by iluvwdw

Maybe there are no closing costs with old resorts, because there weren't closing costs for those resorts when they were actively selling???

That may be the reason, it makes sense.