Buying Resales

[wdwfan100]

I have a couple of questions about purchasing a DVC resale.

1. If I buy points at 2 different resorts how easy is it to combine them for use? Does use year come into play in this situation?

2. If I want to bank points how far in advance do I need to do this?

3. If Vero beach or Hilton Head are the home resorts, is it difficult to get reservations at WDW?

4. How long after agreeing to purchase a resale cna I get access to my points?

Any other info that you may want to through in would be helpful. Thanks in advance.

 

[DVC Mike]

1. If I buy points at 2 different resorts how easy is it to combine them for use? Does use year come into play in this situation?

If you buy points at two different resorts that have different Use Years, the points cannot be combined on a single reservation. You will have to transfer points. If you have multiple Use Years, you will have to manage having different dates for banking deadlines, etc. Even if you buy 2 resale contracts with the same UY, you have to have your broker inform DVC that you want them under the same membership number.

2. If I want to bank points how far in advance do I need to do this?

Vacation points may be banked from your current Use Year into your next Use Year. Banked points may not be returned to their original Use Year, and cannot be borrowed or transferred. All banking transactions are final and irreversible.

Members are able to bank up to 100% of their vacation points during the first 8 months of their Use Year.

3. If Vero beach or Hilton Head are the home resorts, is it difficult to get reservations at WDW?

You should be able to get SSR or OKW fairly easily. The others may be more difficult depending on the time of year. Don't forget that VB has the highest annual maintenance fees, so only buy there if you plan on staying there with those points.

4. How long after agreeing to purchase a resale cna I get access to my points?

Once you have found a resale listing you like, you make an offer on it. Once the price is accepted by the seller, a contract is sent to you for your signature.

After both the buyer and seller sign and return the necessary documents, everything is sent to DVC for ROFR. Disney can take up to 30 days to review the contract and make a decision whether to exercise their Right of First Refusal. Disney generally makes their decision in less than 3 weeks.

Once Disney waives ROFR, the title company will do a title search on the property, order a title insurance policy and request an estoppel report from Disney. The estoppel report is what the title company uses to put together the final closing documents. When the closing documents are ready, the title company will send them to both buyer and seller. They need to be returned along with the final funds due from the buyer.

Once the closing is completed (it can take up to 8 weeks), the title company sends the purchase information to DVC and it then takes Disney 7 to 10 days to put you into their system as the owner of the contract.

It is at that point that you can call Member Services and make your first reservation.

Of course, with all the back and forth, there is ample opportunity for further delays. On the other hand, sometimes the process can take less time.

 

[wdwfan100]

If you buy points at two different resorts that have different Use Years, the points cannot be combined on a single reservation. You will have to transfer points. If you have multiple Use Years, you will have to manage having different dates for banking deadlines, etc. Even if you buy 2 resale contracts with the same UY, you have to have your broker inform DVC that you want them under the same membership number.

Thanks for getting back with some great answers. One more for clarification though. As long as I have the broker place the contracts under the same membership number, I will be able to pool the points?

 

[DVC Mike]

Thanks for getting back with some great answers. One more for clarification though. As long as I have the broker place the contracts under the same membership number, I will be able to pool the points?

DVC Member Administration is the group that will need to be notified to place the second resale in the same membership number as the first (both must have the same Use Year and be deeded exactly the same).

Then yes, you can pool the points at 11-months (if they are both the same home resort) or at 7-months (if they are different resorts).

 

[wdwfan100]

DVC Member Administration is the group that will need to be notified to place the second resale in the same membership number as the first (both must have the same Use Year and be deeded exactly the same).

Then yes, you can pool the points at 11-months (if they are both the same home resort) or at 7-months (if they are different resorts).

Thank you DVC Mike, you have been a tremendous help:wave: