31 Jan How Long Does it Take to Buy DVC Resale
If you’ve asked for the back row on Big Thunder Mountain Railroad, eaten more churros than you can count or own a few pairs of mouse ears, there’s a good chance you love to vacation at Walt Disney World. Many fans of the magic are interested in the Disney timeshare, Disney Vacation Club, but think it’s out of their budget or just don’t know much about it. Then, when they find out about resale DVC points, it becomes interesting and more attainable financially. Disney Vacation Club resale contracts are significantly lower in cost compared to buying direct from Disney. Or maybe you’re already a Disney Vacation Club Member interested in adding more points because who wouldn’t want more Disney days. DVC Resale Experts would love to assist you in buying resale DVC points and offer helpful insight throughout the process. No matter your situation, below we outline the specifics and a few different scenarios to help you consider approximately how long it takes to buy DVC resale. We want to set you up for success and help you plan and dream for future vacays. So how long does it take to buy DVC resale? The general answer is that it takes about 5 to 8 weeks to buy DVC resale contracts. The time frame varies depending on each contract. The main variable that affects the time it takes to buy a resale DVC listing is whether or not Disney uses their Right of First Refusal (ROFR) on the contract. This means Disney has the first chance to buy resale DVC points back. After you’ve placed an offer on a contract, Disney can say they would like to buy the membership at that price instead. DVC Resale Experts can analyze recent ROFR data and use their expertise to help you place a competitive bid that still feels like a great buy.
Our team member Nate put together a checklist for clients buying resale DVC points. This checklist is based on the following approximate timeline and the different parts of the process that may affect how long it takes to buy a resale DVC contract. These checkpoints will help you prepare for what’s ahead, know where you are in the process and count down to when you can expect to see your points in your member portal and use them. This timeline is a great starting point and spells out what you’ll need to do and prepare as a buyer. It also notes when DVC Resale Experts will be able to provide the most helpful insight.
Finding the Right Contract
New resale DVC listings pop up all the time. If there isn’t the exact home resort, use year or point value you’re interested in currently available, DVC Resale Experts can let you know when one becomes available. Just let our Experts know exactly what you’re searching for, and we’ll add you to our ‘Wish List.’ Once you find a great match, you’ll submit an offer to DVC Resale Experts. See current resale DVC listings to browse for ideas.
Next the offer will be accepted, counter offered or declined. This is a great point in the process to consult with your Expert about your offer(s), as they will often have data to consider and insights to assist you.
The timeline truly starts once your offer is accepted. Then the details of the sale will be confirmed with your Expert. At this point it’s important to provide your Expert with the current contact information, specifically current physical address(es), email address(es) and phone number(s), of all purchasers that will go on the deed.
Next you will sign the Purchase Agreement. Please read the Purchase Agreement carefully and sign at your earliest convenience.
Weeks 1-5 (Estimated)
Then it’s on to Disney’s ROFR (Right of First Refusal) process. The Purchase Agreement is sent by DVC Resale Experts to Disney for ROFR review. This review process could take Disney 3 to 5 weeks.
After that, the title company information is provided to you by DVC Retail Experts. The escrow deposit must be sent to the title company within 7 days of signing the Purchase Agreement. If you are financing you’ll want to identify a notary at this point if you haven’t already in order to prevent any unexpected delays. You will need to have certain documents notarized after the ROFR process is complete.
Once Disney’s ROFR Decision has been made you’ll either move forward if they decline to buy or need to find a new contract if they exercise the ROFR. In the unfortunate circumstance that Disney does buy back the contract, your Expert will work with you to find another contract that meets your needs and wants. Your escrow deposit can be left on file with the title company and used toward another purchase, or they can refund the escrow deposit to your original payment method. The refund typically takes 3-5 business days to reach your account.
If Disney waives the ROFR, you can move forward with the purchase and the title company will continue the closing process. Typically, you will receive closing documents within 10 to 14 days of Disney sharing their ROFR decision. If financing, the notary appointment needs to be set, and you’ll need 2 witnesses ready, as soon as possible. Witnesses should not be related to you. Also note that sometimes the notary can act as a witness. Please be sure to confirm this with the notary in advance.
Week 5-8 (Estimated)
You’ve reached the closing process! Closing documents need to be completed and returned to the title company as quickly as possible. Please be careful and thorough. This can expedite the closing process if it’s complete and accurate, or slow down the closing process if you’ve missed anything. A wire transfer will be sent by you to the title company with any funds needed to close. The title company will be able to finalize the closing for you when they have received the seller’s completed closing documents in addition to your completed closing documents and funds.
When your purchase is finalized you’ll receive a confirmation email from the title company. Once Disney receives the confirmation of the finalized purchase, they will begin the process of creating your new contract and transferring the points to your new Membership. This process can take between 3 to 6 weeks, depending on how busy each of the involved departments are. I feel like that’s an important detail for those eager to book a stay.
If you are a new Member, the two most important pieces of communication that will come from Disney during this time are your Club ID and Activation Code. These will allow you to set up your online Membership Portal so you can book that first magical vacation with your new points!
If you are already a Member, you can expect to see the new contract appear in your Membership Portal and within the following 7 to 10 business days. Member Services will transfer the points into your new contract so you can book your first vacation!DVC Resale Experts has more information and things you’ll want to know about buying DVC resale in this How to Buy DVC Resale Guide. You can count on our team of professionals who are former Disney Vacation Club Guides. DVC Resale Experts knows how to sell resale DVC points and provide pixie dusted service throughout the process. Buying a resale DVC membership doesn’t have to be overwhelming. If you have specific questions regarding buying resale DVC points, get in touch today for personalized answers and recommendations.