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DVC Grand Californian - just passed ROFR

Discussion in 'Disney Vacation Club - DVC' started by RX8, Sep 5, 2018.

  1. RX8

    RX8 TUG Member

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    After six years of owning just one timeshare I did what many of you have done and that is I bought another one. And to think I thought TUG was a support group to help us all avoid buying more!

    I currently own Grand Pacific Palisades with an 8,400 HGVC point option. I just got word that DVC passed ROFR on the resale 160 point Grand Californian that we put an offer on at $155 PP. We are now waiting to close. We thought about purchasing at WDW but we plan on being at Disneyland much more than WDW and didn't like our odds to get what we wanted at VGC at the seven month mark. I am glad it passed because I didn't want to have to go through the 30 days of agony again waiting to find out if it passed ROFR.

    This is the last timeshare, I promise.
     
    Last edited: Sep 6, 2018
    ljmiii and Panina like this.
  2. heathpack

    heathpack Tug Review Crew: Rookie TUG Member

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    Disney’s Grand Californian and Hilton Head Island
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    Congrats. That’s a great price.
     
  3. littlestar

    littlestar TUG Member

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    Congratulations. I would not want to rely on a 7 month window there, either.
     
  4. TravelTime

    TravelTime TUG Member

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    That is a great price! Where did you buy it and what was the asking price?

    I guess DVC prices are going down again. I paid $161 a point for Grand Cal last year.
     
  5. RX8

    RX8 TUG Member

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    Thanks TravelTime. Most of the resale’s I looked at was priced at $185 to $220 PP. I put an offer in with another broker of $150 that was listed at $200 and the broker said the seller didn’t even want to counter. I eventually found mine at Fidelity Resale’s, a licensed broker in Florida. They have a good reputation from what I could find. They seem to price more realistically and therefore their listings don’t stay on the market very long. They do have higher than norm closing costs and also have a $195 admin fee but I figured that it added about $300 to the total cost which still resulted in a good price, IMO.
     
  6. TravelTime

    TravelTime TUG Member

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    Yes I have used Fidelity Resales. I heard they have lower priced inventory because DVC sends distressed clients their way. I am assuming your seller really needed to cash out at that price. It is well below market!

    Or perhaps this indicates the recession is coming...Oh No!
     
  7. RX8

    RX8 TUG Member

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    Sorry, didn’t answer one of your questions. The VGC was listed at $150. I offered $155 thinking there would be others throwing out an offer at the listing price.
     
  8. TravelTime

    TravelTime TUG Member

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    Wow, I have never heard of someone paying more than asking on a timeshare! I am very impressed with your approach. You saw the prey and went in for the kill, beating out all the others!
     
    RX8 likes this.
  9. SeattleJohn2

    SeattleJohn2 TUG Member

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    I wonder what the $/point will be if/when DVC decides to expand GCV or build a new property there. Disney is pretty savvy so they must realize people are willing to pay a premium for points near Disneyland.
     
  10. AnnaS

    AnnaS TUG Member

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    Congratulations!!!!!
     
  11. RX8

    RX8 TUG Member

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    I’m still new learning the DVC ways but my thought is that when they raised the direct price of VGC to $235 PP they were possibly trying to set the pricing expectations for their new Resorts.

    I know that DVC is currently active in buying back a small handful of resorts including Sarasota Springs Resort. A typical SSR buyback would leave them with an approximate $60 PP profit. I understand that is also WDW but with the demand at VGC, and limited inventory, they could have realized an $80 PP profit by buying my points back through ROFR. Not that I am complaining mind you...DVC just doesn’t seem interested in buying back VGC for some reason.
     
  12. TravelTime

    TravelTime TUG Member

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    DVC rarely exercises ROFR. I bought Aulani for $82.50 per point and Fidelity assured me it would not be a problem since DVC rarely buys back properties. I too find that very strange. You truly scored with VGC for $155. DVC Resale Market is still advertising for over $200 a point but I suspect it will be hard to maintain if people end up seeing Fidelity selling for $150ish a point. I suspect DVC could care less about making a few thousand dollars per contract right now. It seems like DVC needs a strategic reason to exercise ROFR and it is not motivated by these small timeshare resales right now.
     

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