The last few months have been very enlightening as I went through the resale process for the first time. And the second. And the third (don’t judge).
My first resale contract was for 250 points at Boulder Ridge at an unbelievable $89 a point. I thought for sure Disney was going to take that contract. For those who may not be aware, Disney reserves the right of first refusal on any DVC contract that’s being sold. Once a buyer and seller come together on a price, and the paperwork is signed all nice and legal, Disney has 30 days to quash your DVC dreams like a bug. Now, I’ll be honest – I’m fond of the saying “instant gratification takes too long” because it describes me perfectly. I’m not a patient guy and it has been said that the most dangerous place in the world is between me and something I want 🙂
Every day I watched my email for something from my agent Jerry Sydow at The DVC Store. He did a good job of managing my expectations – saying that Disney would likely take that contract because the price was so low. He also told me that, on average, it takes about 60 days from the time you make your offer to the time when points actually show up in your account, and that was pretty much what happened.
It took about 2 1/2 weeks (2 1/2 weeks of rocking back and forth in front of my computer like a heroin addict) when the word came that the contract had passed!!
As excited as I was about it, my ‘wait’ wasn’t over…
The next part of the process was going through closing. That’s when you send in your money – wire transfer or certified check (I went the certified check route since my bank will not do wire transfers over the phone). Once they received my signed and notarized documents (I’ve become friends with the notary at the local UPS store btw), and once they receive the closing documents from the seller, the transaction is considered closed and the paperwork sent to Disney (and to the county to record the deed).
And, as excited as I was that everything had closed, the wait still wasn’t over…
Now I had to wait for Disney. They received my documents on April 2nd – and to make a long story short, the points didn’t show up in my account until April 18th – just shy of the two months that Jerry had predicted.
While it’s true that if I had gone direct through Disney, I would have had the points in my account the next day, I had to consider just how much money I saved. Disney charges $176 a point (or, in this case, $44,000) for a direct purchase at Boulder Ridge (you can still buy direct from Disney for ‘sold out’ resorts. You might have to waitlist for them, but they do sell directly). Instead of the $176 per point however, I paid $89 (or $22,250). That’s literally about half the price. It took 54 days to get the points, but I saved over $20k by going resale. Now, in all fairness, this is a bit of an unusual situation because of how inexpensive the points were. However, on average, the price per point at Boulder Ridge on the resale market is about $95 a point (which would have ended up being about $1500 more than I paid). Still an amazing deal and one of many reasons that I’m sticking with resale!