Easy, call DVC they will walk you through it. It is a real estate transaction so each set of points is a separate transaction. Added our son (turned 18) as a joint owner, painless. Cost about 150 per set.
At some point, please explain the RCI conversion/process. Not sure I'll ever use it that way but I want to know. Thanks Pete for doing these shows! I just bought & am waiting for my membership number! :)
Just did your in January 2019. They still pick your party up at your resort and drop you off at what ever park you'd like with 3 fast passes and $100 per family.
The tour was amazing when we brought in no fast passes just free food. There was never any hard sell we asked to think about it. Thanks for sharing the magic.
We just bought a SSR contract and Disney waived right in less than 2 weeks! I was amazed - and it was a loaded contract with all 2018 points and under market. I thought the chances of us getting the contracted passed were next none but you just never know! ROFR is a mystery for sure!
Jackie is my favorite:) Love this entire series. We’re seriously considering buying DVC after listening to you and thinking about the money we’ve already spent at Disney resorts
loved the show! I've been renting points for years..a couple of trips a year..I do know the process of buying into DVC..but the right of first refusal deal was a bit more than what I thought I knew...thanks for clearing that up for me!
LOVE this show? Does the process of purchasing through the Timeshare Store change if you are not American? Also, is it possible to find a contract with 10 years or less left?
I can't answer the first question, but to your second question there are no contracts with less than 10 years left as of today. The earliest expiring contracts are in 2042. Here is the list of resorts and their corresponding expiration years: Animal Kingdom 2057 Aulani 2062 Bay Lake Tower 2060 Beach Club 2042 Boardwalk 2042 Grand Californian 2060 Grand Floridian 2064 Hilton Head 2042 Old Key West 2042 or 2057 Polynesian 2066 Saratoga Springs 2054 Vero Beach 2042 WL: Boulder Ridge 2042 WL: Copper Creek 2068
Pete. Bought 150 at Saratoga Springs direct from Disney last year. Just got back from Disney last week and purchased another 60 points direct from Disney again for Saratoga.
Also something no one has mentioned. What happens at the end of the contract period? There is a static period for each property right? So buying into old key west right now probably isn’t a great idea because it’ll be up in20 years? So you only get 20 years out of it instead of 50?
Yes, when the contract ends you no longer own it. I would look at one of the later expiring resorts if you anticipate regular Disney trips for you (or your children) past 2042.
We just closed on 160 points at AK. The same month from the same company almost an identical contract for $2 more per point was bought back by Disney. We were super lucky. It’s a crap shoot.
As a seller I'm not sure what the big deal is if Disney decides to buy back your property. Seems as though you save the 8.5% commission. So it's a big bonus. It's not good for the Time Share Store but that's the price of doing business and they can find another property for the buyer. Am I wrong, please explain.
If Disney exercises ROFR the broker still gets their commission from the seller. Disney will not typically buy an unwanted contract back directly from an owner outside of the ROFR/foreclosure processes. I've heard rumors of them doing that on very rare occasions, but it's at considerably less than the price they would have received had they gone through a broker, even factoring in the commission.
Something you guys didn’t mention here. If Disney steps in and takes back a property do they pay the seller what the accepted offer was or can they pay the seller less? Can the seller refuse to sell the property to Disney?
We prefer RCI, because you can book DVC using RCI points and paying $239 for 7 nights. So much cheaper than buying direct. Also, RCI has over 7,000 destinations world wide. Do your research first and look to buy “Used”, not new.
So, if you were to buy resale for 150 points to Copper Creek, would you be able to go and buy an add on directly from Disney? Would you the be able to then get the benefits that are stripped from the resale?
You could do that, but buying from Disney requires a minimum amount of points -they mentioned it but can’t remember the exact number. Generally, buy the required min from Disney then add on from the resale company
@@GAN-0 The minimum outright purchase is 75 points. I was wondering about the add on option that they mentioned in this video though. Really, I'd love to buy in at the 100/pt price point, but being an out of state fan means I don't get the wonderful discounts on annual memberships.
If you purchased 75 direct from Disney you would get the Membership Magic benefits (AP discounts, shopping discounts, access to Moonlight Magic, lounges, etc.). However, the 150 resale points would be restricted in that they could only be used at the 14 original DVC resorts and RCI. You wouldn't be able to use the 150 points toward Riviera, Reflections or any other future DVC resort. They MAY offer the option in the future to "upgrade" your resale points to become unrestricted, but we have no idea if and when that would happen and what sort of value it would be.
It is not considered an add on. It is a new contract. So your resale points would not be included in direct specific benefits like using for those points for DCL, Disney collection or using them at the newer resorts. You will still get AP discounts, food and merch discounts etc.
When you say “you save” buying resale, it is important to compare “apples to apples.” Disney is selling 50 years properties with full benefits. Resales is selling some number x fewer years with a variable and benefit package.
The length of the contract is the same regardless of it being purchased directly from Disney or from resale. The only exception to this is Old Key West, which has two different contract resale expiration dates (2042 and 2057). You only get 50 years from Disney when you buy the first year it goes on sale. I just wanted to clarify this because a lot of people are under the mistaken impression buying direct gets you a longer contract - it does not.
sgn3099 the new purchases have 50 years on them. The resale market is flooded with properties far less than 50years. You can only say one property is “less expensive”. If the years remaining is the same and the price is cheaper.
Here's a hard question. I expect to be dead of old age half way through the 50 year contract if I sign up. What happens to the contract? Does my estate have to pay it off? What if it can't? Can I transfer it to my heirs? Can my estate just let it go?
LawLibertyCompassion Justice It transfers to your heirs for the remaining length of the contract. If you don’t have heirs, it reverts to Disney. If you still owe financing, your estate has to pay that off. But your estate doesn’t have to pay off the remaining maintenance fees.
There’s a lot to it but I wouldn’t consider it complex. A couple factors before buying and a couple things to understand as an owner. Like anything else, it becomes second nature.
You're buying the remaining years of the contract, which is the same regardless of whether you purchased resale or direct. For example, if you buy Animal Kingdom Villas from Disney direct, your contract will expire in 2057 - the same as if you had purchased it from a resale broker. One sort of exception is Old Key West, which as you already know has two different contract expirations for resale (2042 and 2057).
I understand that resales are less, but is the main reason because you lose the perks and loss all the used years? How is the contract figured out verses the years left? Price per point is too simple. 85 dollars per points for 15 years is not as good as 100 dollars per point for 20 years.
Jonathan, no, you are missing some points. First of all, each resort has a lease expiration. For example, Beach club expires in 2042. It does not matter if you buy it direct from Disney, or resale, the contract ends in 2042. The contract life has nothing to do with how you purchased, the resort is the only thing that matters. Secondly, you do lose perks with resale contracts, but, some perks are virtually worthless, and perks can be taken away at any time, they are NOT part of the contract. And as for savings, you can purchase 150 points at the Grand Floridian for 240 per point = 36,000 or resale at about 170 per point - 25,500 thats over 10,000 you would be paying for the 'perks' and both contracts expire in 2063. That being said, there is not as much savings with a resort that Disney is currently actively selling, such as copper creek.
Thanks for producing this series. Very educational. I've never had any interest in purchasing a time share of any type, and after listening to this series, it all reconfirms that this is not an avenue I wish to pursue.
Buying off the resale market - you are buying the owners current term. Using the varying deed expiration of the Old Key West Property, how can you tell which deed expires from the DVCStore.com site?
Follow up question?? When buying directly from Disney - @ the current 188.00 pp, why isn't their a reduction of purchase point value when the deed expiration date remains the same.
If you look at the dropdown on the site you'll see two different pages for OKW. One says 2057. The page that doesn't have a date in the title are the 2042 contracts.
Values have increased to what I consider crazy levels, I agree. I bought over 10 years ago and rented before I bought. The way I looked at it ...if I rented 5 times at say $1500, I could basically pre-buy 45 years worth for a little more. I have no regrets, have rented my points enough times to pay any maintenance fees over the life of the contract so far, and I could sell for more than I bought. It basically hasn’t cost me a nickel. But it’s not for everybody.....
Well mortgaging a home does have tax advantages. Probably not the best idea to mortgage a DVC membership. Will give you the one caveat to renting - Since DVC often has to be booked far in advance, you do put yourself in a situation where if you have to cancel, you might lose every penny. Just something to be aware of.
Thanks to these shows I made an offer of 320 pts at AKL through the Time Share Store so far the process has been very easy!!!
Jackie that happened to us too. They picked us up in a DVC van then brought us to the park we wanted with fast passes
Could you talk about switching titles to your kids? And the process and are you able to switch titles through the time share store?
Easy, call DVC they will walk you through it. It is a real estate transaction so each set of points is a separate transaction. Added our son (turned 18) as a joint owner, painless. Cost about 150 per set.
At some point, please explain the RCI conversion/process. Not sure I'll ever use it that way but I want to know. Thanks Pete for doing these shows! I just bought & am waiting for my membership number! :)
Just did your in January 2019. They still pick your party up at your resort and drop you off at what ever park you'd like with 3 fast passes and $100 per family.
Great show as always!! It is my dream to one day buy DVC.
The tour was amazing when we brought in no fast passes just free food. There was never any hard sell we asked to think about it. Thanks for sharing the magic.
We just bought a SSR contract and Disney waived right in less than 2 weeks! I was amazed - and it was a loaded contract with all 2018 points and under market. I thought the chances of us getting the contracted passed were next none but you just never know! ROFR is a mystery for sure!
Jackie is my favorite:) Love this entire series. We’re seriously considering buying DVC after listening to you and thinking about the money we’ve already spent at Disney resorts
I have always wanted to be a DVC member! Thanks so much for sharing!
loved the show! I've been renting points for years..a couple of trips a year..I do know the process of buying into DVC..but the right of first refusal deal was a bit more than what I thought I knew...thanks for clearing that up for me!
Could you guys do a show on renting DVC points?
LOVE this show? Does the process of purchasing through the Timeshare Store change if you are not American? Also, is it possible to find a contract with 10 years or less left?
I can't answer the first question, but to your second question there are no contracts with less than 10 years left as of today. The earliest expiring contracts are in 2042. Here is the list of resorts and their corresponding expiration years:
Animal Kingdom 2057
Aulani 2062
Bay Lake Tower 2060
Beach Club 2042
Boardwalk 2042
Grand Californian 2060
Grand Floridian 2064
Hilton Head 2042
Old Key West 2042 or 2057
Polynesian 2066
Saratoga Springs 2054
Vero Beach 2042
WL: Boulder Ridge 2042
WL: Copper Creek 2068
Pete. Bought 150 at Saratoga Springs direct from Disney last year. Just got back from Disney last week and purchased another 60 points direct from Disney again for Saratoga.
Also something no one has mentioned. What happens at the end of the contract period? There is a static period for each property right? So buying into old key west right now probably isn’t a great idea because it’ll be up in20 years? So you only get 20 years out of it instead of 50?
Yes, when the contract ends you no longer own it. I would look at one of the later expiring resorts if you anticipate regular Disney trips for you (or your children) past 2042.
We just closed on 160 points at AK. The same month from the same company almost an identical contract for $2 more per point was bought back by Disney. We were super lucky. It’s a crap shoot.
So helpful and interesting! Thank you!
As a seller I'm not sure what the big deal is if Disney decides to buy back your property. Seems as though you save the 8.5% commission. So it's a big bonus. It's not good for the Time Share Store but that's the price of doing business and they can find another property for the buyer. Am I wrong, please explain.
If Disney exercises ROFR the broker still gets their commission from the seller. Disney will not typically buy an unwanted contract back directly from an owner outside of the ROFR/foreclosure processes. I've heard rumors of them doing that on very rare occasions, but it's at considerably less than the price they would have received had they gone through a broker, even factoring in the commission.
This has been so helpful. Can you just clarify that I can also contact them to rent points?
If you buy resale can you do an add on contract later direct with disney?
What a fantastic show. Craig singing Disney showtunes in Randy Newman voice, piss and sh*t talk, and great back and forth all around!
Always do the tour. Especially if they are giving out Gift cards.
Love this series !
Something you guys didn’t mention here. If Disney steps in and takes back a property do they pay the seller what the accepted offer was or can they pay the seller less? Can the seller refuse to sell the property to Disney?
They pay the seller what the offer was. And no, it's not an offer you can refuse. :)
I wish I new about resale earlier. I also had no clue DL had a DVC until I learned about the resale. Happy owner owner of VGC now!!!!
We prefer RCI, because you can book DVC using RCI points and paying $239 for 7 nights. So much cheaper than buying direct. Also, RCI has over 7,000 destinations world wide. Do your research first and look to buy “Used”, not new.
Last time i was there i went to the info meeting amd received a 50 disney gift card and 3 fast passes for everyone in my party. Sweet deal
I think purchasing 1 through Disney is a good idea so you get the perks!
So, if you were to buy resale for 150 points to Copper Creek, would you be able to go and buy an add on directly from Disney? Would you the be able to then get the benefits that are stripped from the resale?
You could do that, but buying from Disney requires a minimum amount of points -they mentioned it but can’t remember the exact number. Generally, buy the required min from Disney then add on from the resale company
@@GAN-0 The minimum outright purchase is 75 points. I was wondering about the add on option that they mentioned in this video though. Really, I'd love to buy in at the 100/pt price point, but being an out of state fan means I don't get the wonderful discounts on annual memberships.
If you purchased 75 direct from Disney you would get the Membership Magic benefits (AP discounts, shopping discounts, access to Moonlight Magic, lounges, etc.). However, the 150 resale points would be restricted in that they could only be used at the 14 original DVC resorts and RCI. You wouldn't be able to use the 150 points toward Riviera, Reflections or any other future DVC resort. They MAY offer the option in the future to "upgrade" your resale points to become unrestricted, but we have no idea if and when that would happen and what sort of value it would be.
It is not considered an add on. It is a new contract. So your resale points would not be included in direct specific benefits like using for those points for DCL, Disney collection or using them at the newer resorts. You will still get AP discounts, food and merch discounts etc.
When you say “you save” buying resale, it is important to compare “apples to apples.” Disney is selling 50 years properties with full benefits. Resales is selling some number x fewer years with a variable and benefit package.
The length of the contract is the same regardless of it being purchased directly from Disney or from resale. The only exception to this is Old Key West, which has two different contract resale expiration dates (2042 and 2057). You only get 50 years from Disney when you buy the first year it goes on sale. I just wanted to clarify this because a lot of people are under the mistaken impression buying direct gets you a longer contract - it does not.
sgn3099 the new purchases have 50 years on them. The resale market is flooded with properties far less than 50years. You can only say one property is “less expensive”. If the years remaining is the same and the price is cheaper.
How would i go about selling our timeshare from westgate and use it to buy DVC?
Most timehares do not hold value like DVC. I would look into if it's even worth selling.
Can you talk about the process of renting your points
Here's a hard question. I expect to be dead of old age half way through the 50 year contract if I sign up. What happens to the contract? Does my estate have to pay it off? What if it can't? Can I transfer it to my heirs? Can my estate just let it go?
LawLibertyCompassion Justice It transfers to your heirs for the remaining length of the contract. If you don’t have heirs, it reverts to Disney. If you still owe financing, your estate has to pay that off. But your estate doesn’t have to pay off the remaining maintenance fees.
@@HandburglarPro Thanks!
I wish Disney would consider 75 point minimum buy in again; it would encourage direct buyers.
The Disney resorts look fantastic but of course, pricey. DVC seems to be quite complex?
There’s a lot to it but I wouldn’t consider it complex. A couple factors before buying and a couple things to understand as an owner. Like anything else, it becomes second nature.
Buying off the resale market - you are buying the owners current term. Using the varing
You're buying the remaining years of the contract, which is the same regardless of whether you purchased resale or direct. For example, if you buy Animal Kingdom Villas from Disney direct, your contract will expire in 2057 - the same as if you had purchased it from a resale broker. One sort of exception is Old Key West, which as you already know has two different contract expirations for resale (2042 and 2057).
I understand that resales are less, but is the main reason because you lose the perks and loss all the used years? How is the contract figured out verses the years left? Price per point is too simple. 85 dollars per points for 15 years is not as good as 100 dollars per point for 20 years.
Jonathan, no, you are missing some points. First of all, each resort has a lease expiration. For example, Beach club expires in 2042. It does not matter if you buy it direct from Disney, or resale, the contract ends in 2042. The contract life has nothing to do with how you purchased, the resort is the only thing that matters. Secondly, you do lose perks with resale contracts, but, some perks are virtually worthless, and perks can be taken away at any time, they are NOT part of the contract. And as for savings, you can purchase 150 points at the Grand Floridian for 240 per point = 36,000 or resale at about 170 per point - 25,500 thats over 10,000 you would be paying for the 'perks' and both contracts expire in 2063. That being said, there is not as much savings with a resort that Disney is currently actively selling, such as copper creek.
They let me purchase the same day as the tour.
does Disney do vacation club homes for the Disney Park in France?
Hilma Allen Nope. Just U.S. resorts
....would be nice though! If it’s legally possible, I believe you’ll see this in the next decade or so. They’re running out of ways of expansion
Fred Messerer, thanks for the reply. JHAGAN7, yes it would have be lovely if they did, I live in Europe and do not get across the pond that often.
Thanks for producing this series. Very educational. I've never had any interest in purchasing a time share of any type, and after listening to this series, it all reconfirms that this is not an avenue I wish to pursue.
Buying off the resale market - you are buying the owners current term. Using the varying deed expiration of the Old Key West Property, how can you tell which deed expires from the DVCStore.com site?
Follow up question?? When buying directly from Disney - @ the current 188.00 pp, why isn't their a reduction of purchase point value when the deed expiration date remains the same.
If you look at the dropdown on the site you'll see two different pages for OKW. One says 2057. The page that doesn't have a date in the title are the 2042 contracts.
@@1960mikey All OKW direct contracts expire in 2057. You can only buy 2042 contracts on the resale market.
Unfortunately, renting points makes the most sense for us. I'm not going to get a mortgage to go on vacation, when we don't even own our own home.
Values have increased to what I consider crazy levels, I agree. I bought over 10 years ago and rented before I bought. The way I looked at it ...if I rented 5 times at say $1500, I could basically pre-buy 45 years worth for a little more. I have no regrets, have rented my points enough times to pay any maintenance fees over the life of the contract so far, and I could sell for more than I bought. It basically hasn’t cost me a nickel. But it’s not for everybody.....
Well mortgaging a home does have tax advantages. Probably not the best idea to mortgage a DVC membership. Will give you the one caveat to renting - Since DVC often has to be booked far in advance, you do put yourself in a situation where if you have to cancel, you might lose every penny. Just something to be aware of.
resort tours!
What is that guys name? - Not Pete, the salesman.
The word 'Bargain' is blasphemy to Disney. Unless Disney is the buyer of course.
Tour