Are you one of the millions of travelers who missed out on their vacations this year? If so, you’ve probably spent more than your fair share of moments planning your next vacation.
If so, read on to find out all about the ins and outs of buying DVC resale.
What Does DVC Resale Mean?
Disney Vacation Club offers its members the opportunity to buy a lifetime of vacations at their resorts. How it works is like a conventional timeshare with a few differences.
When you buy DVC points, you have the option to enjoy a certain number of weeks of vacation at a particular resort. Alternatively, you could exchange your week for space at a comparable resort instead.
These memberships are akin to owning a second home in terms of cost, but there is a cheaper way to enjoy the many benefits of belonging to this vacation ownership scheme.
DVC resales offer the opportunity to buy into this concept at a fraction of the Disney Vacation Club cost. These points are for sale by existing members who can no longer afford to use their points or don’t have the time to do so.
As such, they offer the points up for sale via a third-party broker who orchestrates the deal for them. It’s as simple as that – DVC resale points are essentially second-hand points.
Is Buying DVC Resale Worthwhile and Safe?
Since vacation ownership is ‘real property,’ only a licensed real estate agent or the individual owner can sell them. So, you know you’re dealing with a reputable person when you buy DVC points via a broker.
These brokers verify all their DVC resale listings directly with Disney to ensure they’re valid before offering them for sale.
The best DVC resale brokers also operate a checks and balances system throughout the process to ensure the buyer gets what they’re paying for.
From a cost perspective, DVC resale is worth every cent since you’re essentially getting a DVC membership at a fraction of the price. There are a few differences in how you can use your resale DVC membership when you buy these points.
Where Can I Use My DVC Resale?
When you buy your ownership interest from anywhere except DVC itself, you can’t use the following benefits associated with membership:
- The Adventurer Collection
- Concierge Collection
- The Disney Collection
You can use all 12 Disney Vacation Club resorts for your vacations, though. These include:
- Animal Kingdom
- Beach Club
- Bay Lake Tower
- Hilton Head
- Grand Californian
- Saratoga Springs
- Old Key West
- Villas of Grand Floridian
- Vero Beach
- Wilderness Lodge
You can also facilitate exchanges to all 500 resorts within the World Passport Collection.
How Does The Process Work?
Once you’ve reviewed the DVC portfolio of resorts and the broker’s explained everything to you, you’re ready to proceed with the sale.
They’ll email you a copy of the contract you’ll print, sign, and return to them via return email. You forward your initial deposit to the company responsible for the closing.
This company performs a title search, gets the necessary information from DVC, deals with all the financial aspects related to the sale, and records the new deed.
When your broker receives all the necessary documents and signed contracts from both parties, they’ll contact Disney regarding their First Right of Refusal. Disney always has the first option on points for sale, but they rarely exercise this right.
As soon as your broker receives the waiver from Disney, they’ll get in touch to confirm your new ownership and let DVC know about their new member. You’ll receive the necessary membership pack from DVC in due course.
How Long Until You Close a DVC Resale Deal?
Usually, this whole process takes about six weeks to finalize. Disney has 30 days to waive their First Right of Refusal, so there are sometimes delays on their side, which can drag the process out a little.
You should receive your documents from the closing company about a week before your ‘closing date’.
What Does it Cost to Buy DVC Resale?
While resale points are cheaper than buying directly from DVC, there are still considerable costs associated with buying these points.
There are three costs to bear in mind when you purchase DVC points in this way. These are:
This includes the cost of your annual allocation of points multiplied by an agreed-upon price per point—for example, 100 points at $60 per point equal to $6,000.
Remember, like any real estate transaction, the seller’s sometimes negotiable on their price.
The closing company determines these costs. They include fees for all the legalities involved in the transaction. These include deed transfer costs, costs associated with recording the deed, and the title insurance policy.
These are the maintenance costs associated with your DVC points. DBC calculates these fees by dividing the operational costs of DVC by all its thousands of members. You need to pay these fees every year if you want to make use of your vacation.
Expanding Your Horizons
Buying DVC resale vacations is one way to ensure you get a lifetime of exciting holidays. Perhaps you want even more variety when it comes to vacation solutions, though.
In that case, browse our website’s travel section for more great ideas on how to spend your free time.