Newcomer 2 home resort question

[cberry]

I am new to disneyinfo but not new to DVC (1994 was first purchase). I have 300 points in total but they are split between OKW and BW (OKW was sold out when we wanted to add more points.) While we love DVC, having two home resorts stinks. Because we only want to stay in one resort (we tried moving mid-week - what a disaster!), we have to book 11 months ahead using home resort points and then gamble that we can get the remaining days using our "non-home" resort 4 months later. We are wondering if anyone has a way around this problem short of constantly borrowing points.

We are close to trying to sell all of our points and simply buy another 300 at one resort. Any suggestions??

 

[kem330]

Which resort do you prefer? I would keep the one you like and sell the other. Small contracts seem to be in demand and having two at the same place won't hurt you (hopefully they could be the same use year). I guess it depends how many you have at each resort. Maybe you could find a member who would buy your BW add on so you don't have to pay a commission and then look for an OKW small contract. It could take a while, but maybe it would be worth it to you in the long run?

 

[cberry]

Thanks for the advice. I have 150 points each at OKW and BW each with a June use year. Could I sell the BW points (since it seems so much easier to get reservations at OKW), and buy more OKW points through this forum or would you suggest I go through one of the time share resale agents?

 

[wdwendyd]

I think that you are not supposed to use this site to sell points but here is a link to a group that does allow this:
http://groups.yahoo.com/group/dvcrent

 

[Dean]

The cost to do what you propose is significant. If you simply sold one contract at BW and bought another at OKW for the same 150 pts, you're likely looking at around $2000 extra cost just to get back where you are now. Why not just alternate points usage when you can't do the 7 months window by using banking and borrowing.

 

[dianeschlicht]

How about if you bank 2 years of BWV points and make a ressie in the third year at the 11 month window. If you want to go to OKW, just try to exchange that ressie into OKW at the 7 month window. You would only need to do that every couple of years, but you would be using both sets of points to their best advantage. I just realized this sounds much more complex than it is. You would be banking for one resort one year, making the ressie at that resort the next year by borrowing from the third year. At the same time, you would bank the second resort the year you make the 3 year point use from the first resort and do the same thing at the second resort the next year. You would probably need a spread sheet to track banking and borrowing at each resort, but it would give you full benefit of all points.

 

[Lesley]

I have a small VWL add on to do what Diane is suggesting. Though we don't really have enough points there to do a whole long trip there, we don't mind moving. And I do believe that OKW is the easiest to get at 7 months merely because of the size of the resort.

I do wonder if you could find a BWV lover who has a 150 point OKW contract and either trade contracts somehow or do some sort of permanent yearly exchange of reservations.

 

[kem330]

cberry- I'm sorry if I sounded like you could sell on this board- you can't. However, I disagree that it might cost you alot. If you try to sell it yourself, your costs will be minimal, and BW will sell at a higher price than OKW. You could also negotiate the commission with a resale agent, perhaps avoiding two commissions. If you have banked your points at BW you could probably sell through resell agent for close to $75/point and buy an OKW resale without banked points for $65/point. It would still cost about $425 to close on the new purchase. This is hypothetical, the only way you'll know is to check with resale agent . Jaki at A Timeshare Broker is quite flexible 888-345-2622.

 

[drusba]

Safe and easy way to sell is through one of the on-line brokers. However, they typically have a minimum commission of anywhere from $1,000 to $1,500. Possibly they will negotiate but possibly not below their minimum. Thus, to sell and then rebuy could be costly. Some have mentioned here about just selling it yourself without a broker. If you actually know what you are doing fine. For example you will need proper contracts (not many people know that you have to put in certain specific language in the contract required by statute for timeshare resales to even have a valid contract); and you will need a title insurance company for such insurance and the closing. Note you will have to do that even if you just agree to trade ownership with another owner.

I would not look at selling and rebuying as the preferred way to go. Better to just keep following a banking at one resort while borrowing for the other pattern.

 

[CarolMN]

Hi, Cherry -

I don't like to change resorts either. Once we're settled in, the last thing I want to do is worry about packing up and moving to another location. I don't even like to do that when it's time to go home!

I agree with the other posters - selling and buying again deems a drastic solution. As suggested, why not try alternating your visits between OKW and BWV first? Although this option will take a little more time to manage your points, it can give you 300 points with the 11 month window reservation window at one resort. Assuming you need 300 points per year, it might work like this:

Year 1: Bank 150 OKW points to Year 2. Borrow 150 Year 2 BWV points. Use 150 BWV Year 1 points and 150 BWV Year 2 points to make your 300 point BWV reservation at the 11 month window.

Year 2: Use banked 150 OKW points (from Year1) plus 150 Year 2 OKW points to make your 300 point reservation at the 11 month window. You have already used your Year 2 BWV points for this year.

Year 3: Repeat Year 1

Year 4: Reapeat Year 2

ETC.

You do have to pay close attention to banking and borrowing deadlines and may have a few odd points leftover now and then, but I think that alternating your stays will prove less costly than trying to sell one resort and then buy in again at the other.

Carol

 

[AnnK]

We also own contracts at BWV and OKW. When we purchased it was easy to get reservations at either resort within the 7 month window. In the past few years it has become more difficult to secure the BWV rooms with the OKW points with the 7 month window, we usually book our entire trip, and switch at the 7 month window. We have had to go on the waitlist at BW, only one year did the waitlist not work and we ended up staying at OKW. This had us thinking the same thing, sell the OKW and just buy BWV points. In the end we decided to keep the OKW points, and just added more BWV points. It seemed like it would be a waste of money to sell and then buy again. I wish trades were permitted at no cost, then we would both be happy!!!!

 

[Dean]

I am currently looking at simply exchanging contracts with another member. I have 2 OKW and they want to trade BW for OKW. The points are about the same, mine has a few more points per year but I've borrowed heavily and the BW contract the other person owns has more current points making it about a wash. The costs will be two closings plus title insurance. We're checking into it at present but I suspect it's going to cost between $700-900 to do a tax free exchange. Since the other party is the motivated one, he'll pay all but the title insurance on the BW contract I'll end up with. The only snag at present is that he has a loan and must pay it off first. I don't know if this will go forward or not and it really doesn't matter to me that much. I'd end up with a few less points per year, 1 BW and 1 OKW and a little higher yearly fees. I would have the 11 mo priority at both resorts though.

 

[sgtpet]

Sounds like a good deal for you.

Good luck. Then you can sell it for $85 pp on ebay.

only joking.