Page 2 of 4 FirstFirst 1234 LastLast
Results 26 to 50 of 79

Thread: Considering Small DVC Purchase - Advice Needed

  1. #26
    Junior Member
    Join Date
    Feb 2013
    Posts
    23
    Thanks for the discussions everyone. After DW and I talked a lot more about this, and after I did more research... we decided to make an offer on a contract on the resale market. Now we wait for a response...
    Good luck! Keep us posted.

  2. #27
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Quote Originally Posted by texhanddoc View Post
    Good luck!
    Quote Originally Posted by IspeakWhale View Post
    Good luck! Keep us posted.
    Thanks! We put in the offer on Friday, but we have actually not heard back yet... starting to get a little concerned, but I guess I don't know what is "normal" for this.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  3. #28
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by Micah008 View Post
    Thanks! We put in the offer on Friday, but we have actually not heard back yet... starting to get a little concerned, but I guess I don't know what is "normal" for this.
    Usually an offer is accepted or countered by the next day or sooner. I'd call your rep and ask what's up. Which company are you woring with?
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  4. #29
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Quote Originally Posted by George View Post
    Usually an offer is accepted or countered by the next day or sooner. I'd call your rep and ask what's up. Which company are you woring with?
    I called this morning, and got the brokers voicemail, which said she was out this entire week on vacation. Obviously, she can use a vacation just as much as any of us, but it would have been nice to know that when I talked to her on Friday. There is apparently only one other broker there, but she was also busy, so I will be calling back again later.

    It is Fidelity by the way...
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  5. #30
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by Micah008 View Post
    I called this morning, and got the brokers voicemail, which said she was out this entire week on vacation. Obviously, she can use a vacation just as much as any of us, but it would have been nice to know that when I talked to her on Friday. There is apparently only one other broker there, but she was also busy, so I will be calling back again later.

    It is Fidelity by the way...
    Was there an expiration time/date on your offer? Sounds like someone dropped the ball. Is anyone taking her calls while she's away?

    If this offer doesn't pan out, you should check out The Timeshare Store. They're wonderfully efficient, and I have nothing but praise for them.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  6. #31
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Quote Originally Posted by George View Post
    Was there an expiration time/date on your offer? Sounds like someone dropped the ball. Is anyone taking her calls while she's away?

    If this offer doesn't pan out, you should check out The Timeshare Store. They're wonderfully efficient, and I have nothing but praise for them.
    No, I didn't put an expiration on it (apparently I should have). I finally talked to someone late today who is apparently handling everything DVC related for the week there.

    She looked into it a little and said that the seller was negotiating with someone else, and that my offer was next in line if they don't agree on a price. I guess I wait a little more...

    By the way, is that normal that the seller would be presented each offer one and a time, and not even see the next one until they accept/counter/decline the first one? Right or wrong, I was under the impression that they would be shown all offers that came in and pick from them, rather than first-come-first-served.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  7. #32
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by Micah008 View Post
    No, I didn't put an expiration on it (apparently I should have). I finally talked to someone late today who is apparently handling everything DVC related for the week there.

    She looked into it a little and said that the seller was negotiating with someone else, and that my offer was next in line if they don't agree on a price. I guess I wait a little more...

    By the way, is that normal that the seller would be presented each offer one and a time, and not even see the next one until they accept/counter/decline the first one? Right or wrong, I was under the impression that they would be shown all offers that came in and pick from them, rather than first-come-first-served.
    Timeshare sales may be different, but in real estate brokerage, all offers must be presented as they come in. If there's more than one, the seller can wait until they both come in and then try to use that to his advantage. It's unlikely that your offer was not presented. What's more likely is that the other offer was stronger (either price, terms, closing, etc.) and the seller decided to try to negotiate that one. Either way, you should put an expiration in order to create urgency. Remember, Fidelity is being paid by, and most likely working for, the seller. I'd also be guarded about relating the highest price you'll go to (and other items which can be used to negotiate), since the agent has a duty to relate that to his client. At least that's how it works in real estate.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  8. #33
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Quote Originally Posted by George View Post
    Timeshare sales may be different, but in real estate brokerage, all offers must be presented as they come in. If there's more than one, the seller can wait until they both come in and then try to use that to his advantage. It's unlikely that your offer was not presented. What's more likely is that the other offer was stronger (either price, terms, closing, etc.) and the seller decided to try to negotiate that one. Either way, you should put an expiration in order to create urgency. Remember, Fidelity is being paid by, and most likely working for, the seller. I'd also be guarded about relating the highest price you'll go to (and other items which can be used to negotiate), since the agent has a duty to relate that to his client. At least that's how it works in real estate.
    Thanks for the response George. I was under the same impression on Real Estate, and I at least have some experience there. When it comes to DVC and brokers I have a lot less of an idea what is really going on there. They claimed it wasn't even presented, but that sounded unlikely to me too. Either way, I will keep in mind that they are working for the seller... I knew this, but it is a good reminder.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  9. #34
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by Micah008 View Post
    Thanks for the response George. I was under the same impression on Real Estate, and I at least have some experience there. When it comes to DVC and brokers I have a lot less of an idea what is really going on there. They claimed it wasn't even presented, but that sounded unlikely to me too. Either way, I will keep in mind that they are working for the seller... I knew this, but it is a good reminder.
    I know I'm just some Stranger on the Internet, but I'm a real estate professional and I make a very comfortable living doing it. I don't like how Fidelity has treated you or your offer. I mean, it took a call from you to have them inform you of the status of your offer, and you still really don't have any answer except "they'll look at it if they can't make the other one work. Meanwhile, wait for us to see if we'll address your offer." This is unprofessional at best. Again, I don't know FL license law, but in IL (and WI) we have strict time frames that we must follow, and we also have fiduciary duties to our clients, even in dual agency transactions where we represent both parties.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  10. #35
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Quote Originally Posted by George View Post
    I know I'm just some Stranger on the Internet, but I'm a real estate professional and I make a very comfortable living doing it. I don't like how Fidelity has treated you or your offer. I mean, it took a call from you to have them inform you of the status of your offer, and you still really don't have any answer except "they'll look at it if they can't make the other one work. Meanwhile, wait for us to see if we'll address your offer." This is unprofessional at best. Again, I don't know FL license law, but in IL (and WI) we have strict time frames that we must follow, and we also have fiduciary duties to our clients, even in dual agency transactions where we represent both parties.
    I appreciate the advice, and professional opinion, even from a "stranger".

    Fidelity sure tries to make it sound like they are working for the buyer too, including using that as part of the reasoning for their $195 fee... but I know better, since it isn't hard to see where the money comes from. If nothing else I have learned more about the process and know how to handle things better next time (like the expiration, etc). My thought is to give them until sometime tomorrow and if I still haven't heard back I will rescind my offer and move on.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  11. #36
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Good luck with the offer.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  12. #37
    he's right
    Join Date
    Apr 2011
    Location
    The People's Republic of Ann Arbor
    Posts
    6,502
    Remember, Fidelity is being paid by, and most likely working for, the seller.
    I thought so too, but some of the DVC heavyweights over on DISboards have said that the broker does not have a fiduciary duty to either party. This could be something specific to Florida timeshare law, I don't know---and I'm also not 100% sure they are right, though at least a few of those people are people I respect.

  13. #38
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    I got a call from Shawn today to say that our offer was accepted and she was going to send the contract. She apologized and explained the reasons for the delay. (Some was them, but some was the seller). I actually felt she was great to work with, and really redeemed Fidelity for me. We will see how the rest goes, but we are really excited.

    We ended up getting a 50 point AKV loaded with all 2012 and 2013 points for $70 a point. It seemed a little higher than some others, but with all the banked points and being small I think it seems like a good deal. Now for the wait on ROFR...

    Thanks again everyone for the great advice and discussion.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  14. #39
    does anybody know how to change this? pfalcioni's Avatar
    Join Date
    Jul 2011
    Location
    Dave's not here, man.
    Posts
    12,057
    Wohoo!! Congratulations!

    But that means we won't be bumping into you at Pop again

  15. #40
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Quote Originally Posted by pfalcioni View Post
    Wohoo!! Congratulations!

    But that means we won't be bumping into you at Pop again
    Thanks! We actually still may stay at Pop again in the future too... with only 50 points that isn't enough for a trip every year, so we are planning to still do some other stays like Pop here and there too, especially if we have anyone come with us.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  16. #41
    won't let you order a nice scotch texhanddoc's Avatar
    Join Date
    Feb 2011
    Location
    Austin, TX
    Posts
    1,139
    Welcome home!
    GREGG

    Proud DVC owner of:


    Stay tuned for more exciting additions to... MY SIGNATURE!!!

  17. #42
    the jeweled acrobats only perform amazing stunts for him DopeyRunr's Avatar
    Join Date
    May 2011
    Location
    Upstate NY
    Posts
    5,591
    Congrats! Sounds like a great contract!
    Follow me on Twitter at: @DopeyRunr
    Blogging about running for fun at Disney and elsewhere with Team Shenanigans.

  18. #43
    Junior Member
    Join Date
    Feb 2013
    Posts
    23
    Congratulations! You're going to love being a DVC member.

  19. #44
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Fantastic news! I'm glad it's working out well.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  20. #45
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Quote Originally Posted by texhanddoc View Post
    Welcome home!
    Quote Originally Posted by DoctorK View Post
    Congrats! Sounds like a great contract!
    Quote Originally Posted by IspeakWhale View Post
    Congratulations! You're going to love being a DVC member.
    Quote Originally Posted by George View Post
    Fantastic news! I'm glad it's working out well.
    Thanks everyone! We are very excited that we got it. Hopefully it isn't too good of a deal where Disney rakes it back on the ROFR. But, it looks like they haven't been taking many back at AKV since they still have their own supply to finish selling.

    I am sure I will have more DVC questions in the future... I know where to come.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  21. #46
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by Micah008 View Post
    Thanks everyone! We are very excited that we got it. Hopefully it isn't too good of a deal where Disney rakes it back on the ROFR. But, it looks like they haven't been taking many back at AKV since they still have their own supply to finish selling.

    I am sure I will have more DVC questions in the future... I know where to come.
    Fortunately (or unfortunately) it doesn't sound like too good of a deal.

    After all, Disney "allowed" me to purchase 410 BLT points for $82 each.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  22. #47
    won't let you order a nice scotch texhanddoc's Avatar
    Join Date
    Feb 2011
    Location
    Austin, TX
    Posts
    1,139
    I wonder why Disney isnt gobbling these BLT contracts up through RoFR. If they can turn right around and sell these points for $150+ per point, why arent they? If there truly is about a month wait for BLT points? Seems like a sound business decision to do so.
    GREGG

    Proud DVC owner of:


    Stay tuned for more exciting additions to... MY SIGNATURE!!!

  23. #48
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    I have been looking at other boards for their ROFR threads... Sure is hard to figure out what Disney is doing there. Each time I think I have an idea what a "safe" price is you can usually find an example that disproves it. (Both high and low)
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

  24. #49
    Real Name: Charcoal Grills MichaelColey's Avatar
    Join Date
    Mar 2011
    Location
    Mansfield, TX
    Posts
    1,458
    Quote Originally Posted by texhanddoc View Post
    I wonder why Disney isnt gobbling these BLT contracts up through RoFR. If they can turn right around and sell these points for $150+ per point, why arent they? If there truly is about a month wait for BLT points? Seems like a sound business decision to do so.
    To me, the fact that timeshare companies don't exercise ROFR just shows that they don't really have that much value. I think they have just enough supply to justify their sky-high prices, but if they had more supply (which ROFR would give them), they couldn't increase sales enough.

  25. #50
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    Often people are interested in what the timeline looks like for purchasing DVC via resale... so I thought I would post the dates of mine so far:

    2/28 (Thu) - Listing posted to site (very late at night, after I went to bed)
    3/01 (Fri) - Made offer. (6:30am) Immediately got email back acknowledging offer.
    3/05 (Tue) - Hadn't heard anything, so I called. No more information.
    3/06 (Wed) - Received a call that offer was accepted. (late afternoon)
    3/07 (Thu) - Listing taken down from site.
    3/12 (Tue) - Received contract to sign. (afternoon) (This was days later than expected, and now I was out of town)
    3/15 (Fri) - Signed contract and sent. (morning) Submitted for ROFR a few hours later. (late morning)
    ...


    (Note that due to the broker being on vacation, and the contract person being sick, and then me being at a training course, I can't see it ever taking much longer than this... Despite these delays, the process has gone smoothly so far, it has just forced me to be patient. )
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •