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It's
no secret that Disney offers vacation experiences like no other-with
legendary service, superb accommodations and magical surprises at every
turn. But did you know that Disney offers an affordable way for you to
vacation at your favorite Disney Resorts and experience Member Getaways
to over 500 destinations around the world, year after year? It's all
part of the best kept Disney secret - Disney Vacation Club.
Discover the unique Disney vacation ownership program that offers your
family significant savings when you purchase a real estate interest in
a Disney Vacation Club Resort.
More than 89,000 Member families already know that becoming a Disney Vacation Club Member is the secret to enjoying affordable, quality vacations year after year.
Learn about the Comforts of Home, Flexibility & Value, and Member Benefits that can be yours when you become a Disney Vacation Club Member.
The Process
Have you considered “owning” a
piece of Disney yourself? Have you passed by those Disney Vacation Club
kiosks and just refused to take time away from  your
vacation for a tour? Resales offer an alternative to becoming a DVC
member, without the tour and sometimes at a significant savings. Once
you have decided to own a “piece of the magic” a tough decision is how
to buy – resale or direct from Disney. Here is what to expect if you
decide to go the resale route:
Resales exist from private sellers who have bought from
Disney, then need to sell for personal reasons. Point packages vary in
size from 25 to 2000 points. Properties are sometimes available from a
resale Broker that Disney no longer offers to the general public such
as Old Key West, Boardwalk Villas and Villas at Wilderness
Lodge.
I highly recommend working with a Licensed Real Estate Broker to
protect yourself in any real property transaction, the Vacation Club is
no different and you should be comfortable and confident with the
capabilities of any Broker you choose to work with for your resale
purchase.
There are three costs to be aware of in a resale purchase
- Purchase price
- Closing costs
- Maintenance Fees and Taxes
Your
Broker should have the purchase price listed and available for you
immediately. Being real property, offers can be presented and are
sometimes welcomed by sellers, while others are firm in their price.
Your main goal should be to try to save with a resale versus buying
directly from Disney or to acquire a resort no longer available through
Disney direct. Never make an offer until you are ready to buy, as your
deposit and signed contract are due immediately after acceptance from a
seller. If financing is involved, be sure to tell your Broker as part
of your offer.
Closing costs vary based on the
price, but average about $400 and a figure should be readily available
from your Broker based on your specific needs.
Maintenance fees and taxes are usually pro-rated based not on the calendar year, which would be the case in a
house purchase, but based on the amount of points being received for
the current year’s allocation from each party. If, for example, you are
purchasing a 200 point contract and the seller used 175 points for the
current year’s allocation, then the seller would be responsible for the
dues on those 175 points, while you would pay
dues on the 25 points you are receiving. Occasionally you will see
contracts where the seller has borrowed ahead. Under borrowed
circumstances, the seller will usually pay for dues on those points as
well. Always discuss this point with your Broker and be comfortable
with the proration before going to the contract.
Once
you have discussed and agreed to all terms of your purchase, your DVC
By Resale Broker should send you a contract. Read your contract
thoroughly; make sure everything makes sense to you. If it doesn’t,
call your Broker and ask questions. Never assume anything. If your
Broker won’t answer your questions or doesn’t know the answer, don’t
sign the contract until you are comfortable. Any reputable Broker
should welcome your questions and find answers for you immediately.
Sign your contract and send it back with your deposit. Deposits vary by
agency, but typically 10-20% of the purchase price is customary. Most
agencies cannot accept credit cards, but will take a credit card
“purchase check” if necessary.
At this point in the
transaction, your Broker contacts Disney and submits the contract for
First Right of Refusal. Your Broker also submits everything to the
Title Agency so they may begin the title search, contact Disney for the
estoppels information and start preparing the legal documents required
for closing. Disney has 30 days to exercise their Right, but typically
takes less time. Closings can happen as quickly as two weeks, or take
as long as six weeks, depending on Disney and the Title Agency. An
average to expect is 30 days.
About one week before
your “scheduled” closing, you should receive your closing documents
from the Title Agency. It includes everything you need to sign,
including the new deed and your final payment. (At this point you can
start to get excited because you are almost finished!) As soon as both
you and the seller send everything back to the Title Agency, they send
the new deed to be recorded and fax a copy to Disney so their
administration can begin putting you in the DVC Member database.
Typically,
Disney takes about 3-5 working days to get you into their system. About
a week to ten days later, you will receive your new member packet along
with your new member ID cards. At this point, you are official and can
call DVC Member Services and start making your first reservation plans
to go “home”! Keep in mind your legal deed will be sent to you after
its official recording. This sometimes takes a few weeks, but does not
limit your ownership or ability to make reservations whatsoever.
Regardless
of where or how you choose to buy your Disney Vacation Club, once you
are “official”, you are part of an extended family that currently
exceeds 80,000 people. We take cruises together, have unofficial
“meets” and love to hear the words: “Welcome Home”!
Should you have other questions about the resale process,
view our FAQ's or contact Shontell Crawford Here.
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