Frequently Asked Questions for DVC Buyers and DVC Resellers
Deciding to join the Disney Vacation Club is a big decision. We all went through it, and we had a thousand questions in the process. One of our goals was to try and answer as many questions as possible here.
- Why should I buy a Disney Vacation Club resale through the Timeshare Store, Inc.®?
- Will I receive the same treatment as DVC members who purchase direct through Disney?
- How do I know how many DVC resale points to purchase?
- Can I use my DVC points to stay at resorts other than Walt Disney World?
- How long has The Timeshare Store, Inc.® been in business?
- When can I make my first Disney Vacation Club reservation?
- How do I contact The Timeshare Store, Inc.®?
- Many More Questions below!
The reason is simple....SAVINGS. Depending on the resort, our customers can save anywhere from $5 to $40 per point buying a resale vs. purchasing directly from Disney Vacation Club.
The real estate interest (Membership) that you purchase through The Timeshare Store, Inc.® will not be eligible to use those Vacation Points to make reservations within the Concierge Collection, the Disney Collection or the Adventurer Collection. Those Vacation Points will instead be valid only for reservations at Disney Vacation Club resorts, as well as for the RCI® exchanges, Club Cordial and Club Intrawest.
HOW DO I KNOW HOW MANY DVC POINTS TO PURCHASE?
The answer to this question really depends on your personal vacation habits. There are a number of options available to you when you purchase an interest in the Disney Vacation Club. Your points can be used at any DVC Resort (Old Key West, Boardwalk Resort, Hilton Head Island, Vero Beach Resorts, Beach Club Villas, Villas at Wilderness Lodge, Saratoga Springs, Animal Kingdom Villas, Bay Lake Tower and the Villas at Disney's Grand Californian Hotel® and Spa). You can also use your points for member getaways through Resorts Condominium International (RCI), Club Cordial and Club Intrawest.
Yes. Your Disney Vacation Club Membership allows you great flexibility to enjoy resorts all over the world. You can view the DVC Point Calculator (provided by the Disney Information Station) to anticipate how many points you would use at different times of the year, and at different DVC resorts. This is especially useful in helping you determine how many points you may need to purchase.
HOW LONG HAS THE TIMESHARE STORE, INC.® BEEN IN BUSINESS?
The Timeshare Store, Inc.® sold its first DVC resale in 1994 and had two employees. Today, we have five full-time licensed real estate associates - Jerry, Jason, Jamie, Robert and Scot - and 4 administrative assistants - Yamilin*, Angie, Leslie and Marian.
*Yamilin is also a licensed real estate associate.
Talk to a person "not a machine" when calling The Timeshare Store, Inc.® during business hours. We are open 7 days a week and pride ourselves in always being available to answer your questions and present offers.
WHEN CAN I MAKE MY FIRST DVC RESERVATION?
About 7-10 days after closing. DVC enters you into the database as a DVC Member and you may begin making reservations by calling Member Services at 1-800-800-9800.
WHAT DOES “USE YEAR” MEAN?
The use year is the month you receive your points each year. It has nothing to do with when you can make your reservations, however.
Example: If you have a June use year, you can call Member Services in February (or even earlier) to make a reservation for August. (You may book up to 11 months in advance at your home resort and up to 7 months in advance at any of the other Club locations.) Or, if you want to vacation before your use year begins, you may borrow points from the upcoming allotment.
HOW LONG DOES IT TAKE TO CLOSE?
Approximately 8 weeks. After we receive both Buyer’s and Seller’s signed contract, everything goes to Disney for ROFR (Right of First Refusal). Disney has 30 days to review the contract and decide whether to exercise their right or not. They generally make that decision in 3 weeks. Once approved, Disney forwards everything to the title company and they prepare final documents. After the final documents have been executed and returned (along with the monies due from the Buyer), the contract closes and Disney is notified of the transfer of title.
WHEN WILL I RECEIVE MY MEMBER ID CARD, NEW MEMBER HANDBOOK AND VACATION PLANNER?
Approximately 30 days after closing. You do not need to have your ID card in order to make a reservation, Member Services will look your name up alphabetically.
CAN DVC MEMBERS HAVE MORE THAN ONE USE YEAR?
Yes. If you have the same use year for all of your packages, you will have one ID card for all of them. If you have more than one use year, you will receive an ID card for each one
DO I HAVE TO BUY A MINIMUM OF 160 POINTS?
Not when buying a resale from The Timeshare Store, Inc.®. You may purchase as few as 25 points and Disney Vacation Club will consider you a Member with full benefits. You will receive your ID card, New DVC Member Handbook and Vacation Planner just as though you had purchased 160 points directly from DVC.
ARE THERE ANY HIDDEN COSTS WHEN BUYING A DVC RESALE?
No hidden costs. When you purchase a DVC resale through The Timeshare Store, Inc.® you will have your purchase price, closing costs and applicable Annual Dues. That’s it.
HOW DO I KNOW WHAT THE CLOSING COSTS WILL BE?
The closing costs average between $400 and $760 based on the purchase price. Your associate can give you an exact amount on each of our listings.
ARE PRICES NEGOTIABLE?
Some Sellers are negotiable and some are firm at their asking price. We’ll always be happy to present an offer for you. The associates at The Timeshare Store, Inc.® will advise you if your offer is in danger of not passing ROFR so you may make an informed decision about the price you’d like us to present.
WHAT IS ROFR?
Right of First Refusal is the option Disney Vacation Club has to purchase any resale package after a sales price has been agreed upon and a contract has been drawn up. Each contract must be forwarded to DVC for review. If the price is too low, Disney will step in and purchase the property themselves at the terms agreed upon by the Seller and original Buyer. DVC then becomes the Buyer.
DOES DISNEY EXERCISE ROFR VERY OFTEN?
Not if the Buyer presents a reasonable offer or asks The Timeshare Store, Inc.® for advice before presenting an offer.
Some Buyers are willing to “take a risk” and make low bids just to see if they can sneak one through. For example, if a Buyer wants to offer $82 per point for a Beach Club Villa listing, the Timeshare Store, Inc.® associate will advise that Buyer that the low price is going to raise a red flag for DVC (even if the Seller is willing to accept that amount). When and if DVC exercises their ROFR, the Buyer is notified immediately by The Timeshare Store, Inc.® and their deposit is refunded in full.
IF DISNEY EXERCISES ROFR, CAN I COME BACK WITH A HIGHER BID?
No. Disney has advised us that once they have exercised their ROFR, the bidding process is over.
HOW DO I KNOW HOW MANY YEARS ARE LEFT ON EACH LISTING?
The Vacation Club Resort listings except those at Saratoga Springs, Animal Kingdom and Bay Lake Towers end the same day - January 31, 2042 (Old Key West*, Boardwalk Villas, Beach Club Villas, Villas at Wilderness Lodge, Vero Beach Resort and Hilton Head Resort.) Saratoga Springs memberships end on January 31, 2054, Animal Kingdom Listings end on January 31, 2057, Bay Lake Towers listings and The Villas at Disney's Grand Californian Hotel® and Spa end end January 31, 2060.
*Some Old Key West listings end 2057 and those are clearly marked.
IS FINANCING AVAILABLE?
TimeShareLending.net offers financing for Marriott, Hilton, Hyatt, Diosney, Starwood and Season only. INterest rate as low as 12.9% (subject to change), Terms up to 120 months, no prepayment penalty for loans over 12 months, no points, minimum loan amount $5,000, maximum loan amount $250,000.
Some of our clients have also used or applied for a Home Equity Loan or Line of Credit. The interest rates for these types of loans are at 3.25%-4.25% and the interest is tax deductible since it is considered a mortgage. If financing is needed we hope the options above help give you some ideas.
AFTER I'VE BANKED MY POINTS, CAN I GET THEM BACK IF I DECIDE TO TAKE A VACATION THIS YEAR?
Once points are banked, they cannot be returned to the current year. However, if you decide to take a vacation after banking this year’s points, you may always borrow up to 100% of next year’s allotment.
WHY DO SOME LISTINGS SAY “CANNOT CLOSE UNTIL XX/XX/2011”?
If a Member has an outstanding reservation, the sale cannot close until that vacation has been taken or the Seller’s reservation will be cancelled when the deed is transferred to the Buyer. If the vacation is for May 30th -June 6th, then the sale cannot close until June 6th but all of the paperwork can be prepared, signed and ready prior to that. On June 6th, the title company will close the sale, transfer title and notify DVC
HOW MANY YEARS CAN I BANK MY POINTS?
Your points may be banked every year, but the same points cannot be banked more than once.
In other words, if you have a June use year and bank your points from June 2010 into June 2011, those points may be used until the last day of May, 2012. They cannot be banked again. However, the June 2011 points may be banked into June of 2012 and are good through May 31, 2013.
HOW CAN I ACCUMULATE POINTS FOR MORE THAN 2 YEARS?
By banking and borrowing. Bank your 2010 points into 2011. In 2011 borrow your points from 2012. You now have 3 years' points available all at once.
HOW DO I CONTACT THE TIMESHARE STORE, INC.®?
Call Toll Free 1-800-550-6493 U.S. & Canada
or 407-239-8899 Other Areas
Speak to a DVC Resale Expert not a machine!!
Open 7 Days a Week
Monday - Friday (9am- 9pm)
Saturday (9am- 6pm)
DIRECTIONS TO THE TIMESHARE STORE, INC.®
5430 Central Florida Parkway
Orlando, FL 32821
Stop by our office on your way to DVC because we have a Publix grocery in our shopping center. It is a neighborhood store, so the prices are very reasonable compared to the groceries in the Disney area.
From the airport: Take the toll road 528 West, headed toward Disney. Exit at Orangewood Blvd , turn Left at the light, go straight for 1/2 mile and see the "Williamsburg Downs" shopping center on your right at the intersection. Our office is close to BlockBuster. Look for big yellow "TIMESHARES" sign on top of building.
From DVC: Take I-4 as if heading toward airport, take the Sea World exit. Turn right immediately onto Central Florida Parkway. Pass the Sea World entrance and continue for 2 blocks, turn into "Williamsburg Downs" shopping center. Our office is close to BlockBuster. Look for big yellow "TIMESHARES" sign on top of building.
FREE New 24 page Brochure about DVC & Resales!
Call or E-Mail to receive our newest brochure for an in-depth look at
the Disney Vacation Club and the Resale Market. Very informative for
those that want to learn all about the options available to them. This will help answer the many questions that come to mind when consideringa DVC purchase or sale in the secondary marketplace.
Call--- 1-800-550-6493 US & Canada
Other Areas--- 407-239-8899
Mon-Fri 9am to 9pm EST
Sat 9am to 6pm
Sun 10am to 6pm
Thomas E. Yeary (Tom)
The Timeshare Store, Inc.