As I mentioned in my previous post, I’ve put in an offer on a Disney Vacation Club resale contract. After figuring out 4 or 5 years ago that I’d misunderstood how buying DVC works (because I made the mistake of listening to someone other than a DVC representative years ago), I started to look into how I could make owning Disney Vacation Club happen for me and my family’s budget. I still didn’t decide to do it until this year. Originally, I had decided I was going to buy direct from Disney because I wanted to be able to have all of the perks that come with the direct buy that aren’t available to those who purchase resale.
So that I know I don’t leave anything out, here is the information about the DVC benefits for buying direct from Disney vs. buying resale (straight from Disney themselves): https://disneyvacationclub.disney.go.com/dvc-direct-vs-resale/
When I looked at the benefits of buying direct from Disney and how only 2 of them are available for those who buy resale, I realized that saving thousands of dollars on my contract outweighs the benefits I miss out on. I don’t have any desire to do any cruises at all, I’m just not one to want to go on a cruise ship. I realistically would not utilize any of the Collection options or Adventures by Disney. I wouldn’t mind being able to attend the Exclusive Member Events and getting ticket discounts would be great, but for me, those are not worth the money that I’ll save by buying resale. As for the dining and shopping discounts, they’re essentially the same as the discounts I get for having an annual pass so I don’t feel like I’m really missing out on much.
The process of buying DVC resale is a lot longer than buying direct from Disney, but I’m not in a hurry to get my points. I put in an offer for the resale contract on July 13th and it was accepted the same day and it went to Right of First Refusal (ROFR) on July 17th. ROFR is Disney’s opportunity to either buy the contract back themselves, or refuse the contract and let the buyer purchase the resale contract. I was told this process is generally 30 days but with Disney’s staff being reduced due to the pandemic, it’s been taking longer.
Here’s info about ROFR from Disney’s DVC website: https://disneyvacationclub.disney.go.com/faq/reselling/right-of-first-refusal/
So as of right now, my contract is in ROFR and as long as Disney doesn’t buy the contract themselves, I’ll move on from there and should close around the end of September. The resale contract I put an offer on is for Old Key West, December use year, 210 points. The contract has 210 points banked from 2019 so the 2020 points are doubled at 420 with 210 points for 2021 and beyond. It has a 2047 expiration and my offer was for the $103 per point that the seller was asking.
I’m hoping that since I didn’t try to negotiate a lower price, Disney might not be interested in buying this back, although it’s still a lot less than their current price for Old Key West points at $156 per point. So the resale price is a little over $11,000 less than if I bought direct from Disney. There are also yearly maintenance fees but those are the same whether I buy resale or direct. I think my closing costs are about $85 more than they would be with Disney, just to give as many monetary details as I can think of.
Buying DVC in either case is not for everyone. It depends on how often you plan to go to Disney and where you would like to stay when you go. For me, it would have made sense to buy into this years ago but even now, it will work out better for us. I’ve enjoyed visiting Disney World more than once a year and definitely enjoy staying at deluxe resorts so this is a good move for my family. Even if my sons decide they don’t want to go very often, I’ll still be going.
For now, I just have to wait to see if this contract will go through ROFR, and if not, I’ll just find another resale contract and try again! °O°