Waiting For The Right Contract
This is one part of buying resale that I didnt really appreciate the length of time it would take for us. For some people, its over within a day as the right contract comes up immediately. I naively assumed that would happen to us, and wed find the right contract pretty quickly. If wed been open to bigger contracts or a number of resorts, we would have found something suitable much quicker. The problem was we wanted a small contract of between 50-100 points at Disneys Beach Club Villas with the same use year as we currently had. These contracts not only dont come up that often, but they also go very quickly when they do appear. I had signed myself up to all the alerts I possibly could and kept an eye on the contracts coming up every day. Even with all this, it took months for the right contract to come along. When it did come up, though, I knew I had to get in quickly to make an offer.
Our Wait Time: 4 months
What To Expect At Saratoga Springs
Disney has built a massive preview center at one of their most prestigious DVC properties, Saratoga Springs. A Victorian-style resort modeled after the famous 1800s New York equestrian spa retreat of the same name, Saratoga Springs Resort & Spa is located just across the water from Disney Springs. DVC will provide transportation to the location so you can stay off your feet. The DVC preview center is located next to the resorts main check-in building and welcomes potential Disney timeshare owners with pastries, coffee, fresh tropical juices, and other refreshments while waiting to check-in for the tour.
Upon receiving a name tag, visitors are escorted into a mini-movie theater to watch a brief video of life as a DVC owner. Smiling faces and laughing families splashing in a resort pool, character meet-and-greets on the Disney Cruise Line, multiple generations sitting around a spacious villa are all scenes that might give you FOMO. They really drive home that DVC lets you stay in the heart of the magic year after year, showing young couples, families, and grandparents with their grandchildren. Once the movie ends, the attendant introduces the DVC tour guide.
How Do I Find A Buyer
As with residential real estate sales, most owners looking to sell their DVC contract use a real estate agency to assist them in locating a buyer. A DVC resale agency will market and advertise your contract in a variety of ways to find you a buyer as quickly as possible. Licensed agents who have years of professional experience can provide you with recommendations and advice for your listing price, the best time to sell your membership, what to do with your points while youre in the process of selling, whether or not you should pay your annual dues, and many more questions that sellers may have.
Again, working with a reputable and experienced broker or agent is the best way to ensure that the selling process goes smoothly and without any hiccups. Selling your DVC membership is always an option if you find yourself in a situation in which you feel that you must sell.
For more questions about selling your DVC membership contact our DVC Shop Resalesdivision and our friendly and knowledgeable agents will be happy to assist you with any questions you may have regarding selling your DVC contract.
Additionally, if you would like to rent your points, contact our DVC Shop Rentals division where our agents can walk you through the rental process and show you how you can make money by renting some or all of your yearly allotment of DVC points.
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How Do I Add Someone To My Dvc Deed
To add a name to the Membership or remove a name from the Membership as an Owner, you will need to work with a title company or an attorney to assist with creating and recording a new deed. The new deed would show the transfer of ownership from the way it is currently titled into the way you want it to be titled.
Loan Or Mortgage Costs
Not everyone takes out a mortgage for their Disney Vacation Club contract. If you do decide to get a loan, Monera Financial is number one in DVC financing and DVC loans, and we highly recommend working with their friendly staff. However, if you do not buy a contract outright, of course your annual costs will increase based on the loan you get. Just like the annual dues, your annual loan costs will increase as your contract amount increases. You can take a tax deduction on any interest you pay. However, this is definitely a cost you will want to include when you are trying to see if Disney Vacation Club is worth it for your family.
Signing Open Escrow Letter
This was part of buying resale that Id never heard of before. It was sent to us by email during our wait for Right of First Refusal, so it didnt add any extra time onto the process, but I thought it deserved a separate step here. Its a document used to verify the information given on your contract. You have to print the Open Escrow Letter, check your details and either update them if anythings incorrect or sign to say youre happy with them. You then scan this and email it back. It was very straight forward, but just something I wasnt expecting and wasnt quite sure what it was for. As long as you send this back before you hear about Right of First Refusal, it wont hold anything up.
Our Wait Time: None
How Long Will My Dvc Contract Take To Sell
Over 90 percent of DVC Resale Markets listings sell within 30 days and that is DVC Resale Markets goal. If your contract is not sold in that timeframe a price reduction may be recommended but, of course, is not required. Once an offer is presented and terms are agreed upon a contract is created by the DVC Resale Market Administration Team. Once signed by all parties, the contract is submitted to Disney and the closing process started.
The closing process takes about 60-90 days. That time period includes Disneys right of first refusal, time for the title company to receive Disneys estoppel, the title company preparing and sending out closing documents, both parties returning closing documents and necessary funds to close, and Disney making a final transfer of points.
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General Information On How To Use Buy And Sell Disney Vacation Club Points On The Resale Market
Q: How much are DVCs maintenance fees?
A: Maintenance fees vary depending on the number of points and the resort owned. The 2011 maintenance fee rates ranged from $3.8943 per point at the low end to $6.7760 per point at the high end .
Q: How many points should I buy?
A: The number of points each owner needs depends on desired resort, room type, and length of travel each year. Interested buyers should consult the below points charts to determine the number of points best for them.
Q: When will the points become available and how long do I have to use them?
A: The month in which points become available depends on the use year purchased. Points can be banked for use in the next year and can also be borrowed from the upcoming year without any charge.
Q: How far in advance can Disney Vacation Club reservations be booked?
A: Members are able to make reservations 11 months in advance at their home resort during the Home Priority Booking window. Reservations can be booked 7 months in advance at any other location.
Q: What is the difference between purchasing at the various DVC resorts?
Q: Will my benefits differ if I purchase on the resale market and not from the developer?
Q: What is Disney Vacation Clubs cancellation policy?
A: If a member cancels a reservation between 1 and 30 days prior to check-in, points become Holding Points. These points can only be used to book reservations 60 days in advance, they cannot be banked, and they expire at the end of the use year.
What Are The Rules
- Owners may only transfer or receive points from another member one time per use year, not calendar year.
- Transferred points retain their original use year and home resort priority.
- You cannot transfer banked or borrowed points.
- Points transfers are not reversible.
- Transferred points will expire at the end of the transferors use year but can be banked by the transferee.
- Transferred points cannot be borrowed.
- Both Transferor and Transferee must be current on their maintenance dues at the time of the transfer.
Transferring Disney Vacation Club points is an easy process that can come in handy in certain situations. Next time you run out of points or just dont have enough points to book your dream vacation, consider requesting a transfer from another owner. Or if you cant travel this year and would rather not bank your points you can easily transfer them to another owner who would be thrilled to use the points for their perfect vacation.
For any questions about transferring or renting your DVC points, contact DVC Rentals at the following link.
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Dvc Sales Representatives Arent Like Typical Timeshare Sales Reps
After the short video, the attendant takes visitors into a private sitting room. We were taken to one of manyit felt like a never-ending hallway. Each room has a table in the center and a console against the opposite wall with a huge touchscreen computer. To start the presentation, the salesperson actually tried to talk us out of buying. With rehearsed phrases like, If you dont do ___, then this isnt for you. This was honestly the most aggressive part of the whole tour. This is an attempt to hype up attendees until you have to be the ones convincing him that youre ready to buy right away.
The representative was subtle as he slipped qualifying questions in, like if we own our own home, are married, if we want children, etc. He then went through a slideshow on the computer screen, showing us video clips and informative slides on how amazing ownership is, the DVC membership benefits, how many resorts and hotels we can use the points at and how the points system breaks down. At one point he took out a blank piece of paper and wrote 2068 at the top. After a dramatic pause, he explained the legality of a deeded timeshare, making it very clear that it is a timeshare and it expires in 50 years. Any time we asked a question about this deed, money, es or fees he was very careful to say We will get into that in a little bit. After a while, we stopped asking questions at all. After all this, the real tour began!
Other Expenses And Benefits
Remember that the cost of accommodations is actually a small fraction of the overall cost of a vacation. Walt Disney World annual passes for a family of four cost over $5500 in 2021. Meals for a 10-day vacation can easily run $1800 or more for a family. Then you have to account for airfare , souvenirs, bottled water, extra ticketed events such as Mickeys Very Merry Christmas Party, and so on.
DVC members do qualify for some discounts that may help with these additional vacation expenses . They are eligible for the Sorcerer Pass at Walt Disney World, which doesnt cover Christmas and Thanksgiving, but costs around $400 less per person, and they get get some restaurant and merchandise discounts . Also, the villas have full kitchens, which could help a bit with the costs, since some meals can be made in the unit.
DVC members and their guests may choose to purchase a Dining Plan when staying on points at a Walt Disney World DVC resort. The Dining Plans are available to the general public only as part of a vacation package, so this is a nice benefit for those DVC members who like the Disney Dining Plans.
Another DVC benefit: you dont pay extra when more than 2 adults are staying in one DVC unit. This is true whether you use your own points, rent points or pay cash. By contrast, the Disney resort hotels charge extra if you have more than 2 adults in a room. Depending on the ages of the people in your group, this may save you a bit.
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Getting Started Selling Your Dvc Membership
Selling a Disney Vacation Club contract is not only possible, but often yields a stronger resale value than almost any other timeshare brand in the world. Selling your DVC Resale doesnt have to be difficultthe DVC Resale Market Team sells more DVC resales than anyone else in the industry, and our sales team consists exclusively of former Disney Vacation Club Guides, all trained by Disney to sell the DVC brand.
Adding Adult Children To Your Dvc Contract
Any time you are thinking of adding people to your contract you should speak to a tax advisor due to potential tax consequences.
Something that is seen a lot is when DVC owners children grow up and they want to add the adult children to the deed. The same issues discussed earlier regarding liability, bankruptcy, and other life events should be considered. The blue card is a nice benefit for a lot of people, but because this is a legal property that you’re dealing with or a legal entity of trust, there are all kinds of ramifications you need to consider when adding a person. While the blue card benefit is nice, it probably does not outweigh all of the risks that you, can take. Some owners thinking of adding somebody for the blue card benefit should also consider that there are still passholder benefits and they can get their adult child a pass if they reside in the same house.
See The Savings Ahead
Depending on how you use it, in as little as 3 years, your Disney Vacation Club resale Membership can pay for itself, and youll still have years of vacations left to enjoy. Throughout the years of your Membership, you can save as much as 50% on future Disney Vacation Club Resort accommodations.
You can even transfer your Membership to family, loved ones, and friends.
With Flexible Vacation Options, You Can Go Where The Magic Takes You
The where, when, and how is up to you. Disney Vacation Club is designed to be flexible, so as a Member, you can vacation differently each and every year.
Youre never locked in to a specific Resort, time of year, type of accommodations, or length of stay. You can vacation more than once a year, get away every other year, or even stay during the holidays.
The World Collection
Don’t Buy As An Investment
While there might be many reasons to buy a shared ownership interest in a resort home, the property’s investment potential typically is not among them. None of the options for shared ownership described above is likely to be a valuable, appreciating asset once purchased.
On the contrary, most shared ownership interests will depreciate in value and may be difficult to resell at all. Their main value lies in helping you avoid the hassle and expense of booking rental accommodations each year. You’ll have the enjoyment of annually returning to your “own” property or choosing from a number of exciting properties in which you own an interest.
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How To Find Your Family’s Actual Villas From Deed Research
And now we enter the geeky-fun part of the show. Chad uses one of his Copper Creek deeds to show that he has an undivided 0.244% interest in Unit 2G Cooper Creek Villas and Cabins. You can go to the county recorders records for your DVC resort and search by last name any owner of a property in the county for your public deed on record. BTW If you ever wonder why you’re getting calls from scummy telemarketing companies, it’s because they can look you up in deed records. Links to the deed registrars of the 5 counties DVC is located are listed below the photos.
My kids enjoyed this little exercise in finding our own DVC villa at Copper Creek. It’s nerdy and geeky, but fun come in and visit the villa you actually own per deed records.
Choosing A Dvc Resale Broker
When selling a Disney Vacation Club contract, one of the most important decisions is choosing a DVC Resale Broker. This is important as the developer, Disney Vacation Club, does not have a resale department, and selling DVC yourself can pose risks and challenges. If your contract has not been created by an attorney, you will not have professional liability insurance to protect from civil lawsuits in the event a disagreement occurs and escalates. Additionally, DVC is a unique and detailed product, so much so, that DVC requires all Disney Vacation Club Sales Guides have six weeks of training before they can interact with a Guest regarding a purchase.
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Why Trust Fidelity To Sell Your Dvc Points
- We have over 20 years of experience in DVC resales, with Licensed Real Estate agents that are experts in DVC
- Fidelity Real Estate is a Recommended Resale Brokerage for Disney Vacation Club since 2005
- Never pay upfront feesand get a free listing
- Proactively promoting your timeshare for sale and reaching prospective buyers through digital advertising
- Navigating Disneys Right of First Refusal
- Ensuring a seamless and stress free closing process