Short Notice at X-Mas

[Disney Adventurer]

Have been considering a DVC purchase for some time now and have gleaned much info from the posts, thanks to all ! I am considering a resale purchase at Boardwalk but probably won't be able to seriously start looking until the end of August. With great luck this might put us closing in October. Very much want to go during X-Mas of this year, this would give us, at most, two or three months to book, what are the odds of finding space during X-Mas season with such short notice, any DVC resort would be great?

 

[buckylarue]

We bought thru Disney last October and already had cash reservations for DxL for a week in early December. Member Services was able to get us the last 4 nights at OKW, and could have gotten us the first 2 nights at BWV, but the 3rd night had nothing available at any of the DVC resorts, so we kept the DxL reservation for the first 3 nights and then moved to OKW for 4 nights. I know cash bookings are down this year, so there may be more availability than normal (they did eliminate the special season preference list for the holidays this year), but the earlier you can close, the more chance you'll have. Good luck!!

 

[mickeyc]

We purchased a resale last September, 2000. I started looking at the resale market upon our return WDW in August. The resale market varies depending upon the inventory. For example, you must take into consideration price per point, current points available, closing cost, etc. Also, BWV seem to sell faster than the other locations. You appear to be making an assumption there will be a property that will meet your needs, which may not be the case.

The following may be of some help. We made an offer on Sept. 12, 2000 and sent the deposit overnite on the Sept. 13th. We closed on the property Oct. 16. We were able to make reservations one or two weeks later. It took the additional week for Disney to enter the transaction into their system. You cannot make the reservation until that time. I would also suggest that you contact an agent and have your name placed upon waiting list if you are looking for a specific location and point allocation. In addition the agents will offer an expedited closing, which I think was an additional $ 45. We did not use this service. I think it may be too close to ensure you will get xmas week, which is the most popular time of year. Depending upon your financial circumstance you can make cash reservations and then cancel if the DVC reservation come through. I think you have 48 hours prior to your arrival date to cancel cash reservations without a penalty--the same does not apply to using points.


Good luck I hope you are abe to find something! Enjoy WDW!!

 

[PamOKW]

You never know what is possible until you call MS. There's always a chance of hitting a cancellation. However, I wouldn't absolutely count on this being able to happen. Christmas Week is probably the most popular week at WDW. You may be able to get something for most of the week but 12/30-1/1 will be the hardest to book since many people come for NYE, even from the Florida area.

You might want to consider booking a resort somewhere now. (For the first time in recent history it sounds like they even have some discounts up to 12/25). You can then fill-in with days at a DVC resort as they become available. (For example, you book CBR now for 12/24-1/2. When you purchase DVC and call for a reservation they tell you VWL is available for 12/24-12/27. You can then stay on the wait list for the other days and eventually get 12/24-12/30. You still have CBR to stay at for 12/30-1/2. )

 

[Disney Adventurer]

Thanks for the input. Looks like a lot of things have to happen right to pull it off. But if it's Disney there's always magic. mickeyc, you mention you do not have a 48 hour option to cancel on points. What is the policy for cancelling ressies on points? How late can you cancel without losing the points?

 

[PamOKW]

There are lots of "nuts & bolts" to the DVC membership concerning banking, borrowing, point expiration, etc. etc.

If you cancel 31 days or more before the start of your reservation, the points are returned to you with no strings attached for their use. If you cancel 30 days or less they put the points into what is called a "holding account". You can only make reservations 60 days in advance when you use these points and you cannot bank or borrow these points. (I think if you cancel at 24 hours or less you lose the points but I'm not 100% positive on that one.)

There are other fine details to consider when cancelling as to how you will use the points instead. I'll leave the technicalities until the future so you don't get too confused. It's overwhelming at first but soon becomes second nature.

 

[mickeyc]

I didn' t want to mention the detail in my earlier post to confuse the issue. However, PAMOKW did a nice job providing you with the details. She is very knowledgeable in these matters. I hope all the feedback helps! Good luck and enjoy!

 

[Disney Adventurer]

A little confused. mickeyc, you mentioned you could not make a reservation until Disney entered it into the system which is 1-2 weeks after closing. I was just cruising the thread about How Many Posters by Caskbill, and saw a note concerning a purchase at OKW, I believe it was on the next to last page by ILuvDVC, that said you could book as soon as you make the down payment, you just couldn't bank, borrow or transfer??

 

[TrudyZ]

I just purchased a resale at OKW. If you buy a resale, you cannot make any reservations, etc. until you have a membership number and are in the Disney computer system. Getting in the Disney computer system took about 4 business days after the closing took place for us.

I believe if you purchase direct from Disney, you may be able to do things sooner.

The properties available through resale are: OKW, BWV, HH, VB, WLV. Direct through Disney, you can purchase: VB, HH, WLV.

Hope that helps,
Trudy

 

[Disney Adventurer]

If you have an offer made and accepted with a down payment, can the seller make the reservation for you? Just like selling points?

 

[jel0511]

We just bought at VWL we close on 7/24, and as soon as I placed my deposit down, I was able to make my first reservation, for this Aug!!! Actually, this was one of the reasons for purchising now, versus waiting until we were down there. I placed my deposit, and the next day, I had my membership number and was able to call MS and make my reservation (my guide had already placed my dates on hold).

 

[Richyams]

If you have an offer made and accepted with a down payment, can the seller make the reservation for you? Just like selling points?

Can't do that anymore. I believe there were a few transfers that had a reservation pending and the buyer was not aware and there were problems, and/or Disney wanted to make resales a little less attractive. Disney announce over a year ago that all reservations will be canceled the day an ownership tranfer is made.

Now, a seller can not make a reservation for a buyer.

 

[mickeyc]

As I recall from your earlier post you were referring to purchasing a resale. It is my understanding placing a down payment is not sufficient--you must have closed on the property. There are several reasons; however, when purchasing a resale you must have clear title. The search takes a little time to complete. For instance, if you place a down payment and it is determined there is a lien against the property the money held in escrow would be returned to you, or until such time the owner can demonstate clear title. Keep in mind this is a real estate transaction. As such the process takes a little time. At that point you would have to make a determination if it is practical to continue with that specific resale or move on to another one. It is my understanding buying directly from Disney will facilitate the process. The resale market is not as attractive as it was eigth to ten months ago. There is alot to think about when buying either direct from Disney or resale. Most of the comments offered in this post are good suggestions.

In my case when I purchased a resale it took approximately another week subsequent to the closing date before I was able to make reservations. The discussion boards are very helpful. As you can determine alot of people responding to the post are knowledgeable. I would recommend you start your resale search now if it works for you. Keep the faith you will find something! Enjoy WDW!

 

[Disney Adventurer]

Thanks to everyone for the input, wouldn't know where to turn with out it. I hope to start looking in 2-4 weeks for BWV (both I and the wife just fell in love with it) so resale is the only way for us. I'm sure I will be full of many more questions, but am now comfortable knowing there is such a knowledge base available. Thanks to all.

 

[SleepyatDVC]

Don't know if you are looking to buy in 2 to 4 weeks or to just start looking, but you might want to give your name to one of the resale brokers and let them know what you're looking for now. Just because you do doesn't mean you have to buy right away. It might just help you determine what's available and at what price.

Sometimes, the really good resales never make it to the websites. Especially the ones with lots of banked points. 'Though there seems to be a ton of resales on there right now - but the high asking prices! (You probably will have better chances of negotiating with the larger supply) You never know how long or short it will take to find one you are happy with. Sometimes you may let a few go by and it may take weeks to find the points you like at the price you like. (Jaki was really nice and she was really good about calling in the evenings when you have the time to talk and think about it with your spouse.)

You might try finding a private seller but if you do, use a closing service company. The extra $ is worth the peace of mind - they will hold your deposit for you in escrow and they also have sample sale contracts that you and the seller can use - just ask. The seller still saves on broker costs.

I learned a lot on this site. You might want to do a search on resales or post your own questions. Be prepared 'cause when you seriously start looking, it either seems to take forever or you have to make a decision in the next 5 minutes! Also, know that even if you make an offer that is accepted, if you have second thoughts it's not too late. You have about 5-10? days to sign the papers they send you and return them with your deposit. However, I would send it back as quickly as possible if you're sure so that it closes quickly and you can make your ressies! If you do change your mind however or you find something better, let the broker (or seller) know right away so they can find another buyer, they are used to it so don't feel bad. It's only bad if you let them hanging.

Well, that's my 2 cents for now - good luck.