Process is fairly simple through Disney:
1. Call, you already have a guide if you took the tour and if you call you will likely get that person or he or she will return the call.
2. When you talk to the guide, you can ask any questions. If you want to proceed, you agree to make a down payment over the phone. If using magical beginnings, the amount of points sold back will be applied to down payment making the required cash down payment less to reach 20% down total. You make down payment either by credit card or send a check to an address they will give you.
3. Once they receive check, they send out all the contracts and disclosure documents. You have 15 days after receiving those to back out of the deal. Once you receive and review the materials (that is the hard part depending on how much you want to read; the disclosure documents are voluminous and contain much legalese; to a great extent reading it all is like trying to stir concrete with your eyes), you sign all the necessary contracts (that part is generally easy as there little mouse ears where you should sign each document and little palm trees where you should date each document. You will have to have certain documents notarized, like the mortgage agreement, and thus you need to get to a notary (and also know that all documents must have the same date of signature and therefore make sure all are dated on the day you have things notarized). You return the signed agreements in a 2-day express mail envelope that comes with the package of materials (you need to get that to the applicable service).
4. Once they receive the documents, you then wait for approval on the loan (couple days) and they then call and say you have been approved. It is at that point that you can actually make your first ressie if you want to. The deal is closed about 30 days later--you need do nothing for that and need not go and it is done in Florida.
5. Whether to do MB is up to you. At $10 a point at VWL it is not bad as that is the going rental rate for points. Also, you would not really be giving up a full year of use. You get a use year when you buy and it usually begins about 5 months before the date of purchase, meaning those first years points are ones officially issued 5 months before you purchased and you will get your second year allotment in about 7 months.