Simple step by step procedure to join

[imgoingtodisney]

My husband and I went on the vacation club tour last Sat Oct 13th. We are interested in joining the vacation club. What the are steps in joining? Something about answering them within 30 days? Do you think its wise to turn in your first year points to save $2,000? My husband wants to buy 200 points. Thanks for any help.

 

[crazyaboutdisney]

which resort are you thinking of buying at? Make sure to check the resale market. We have 200 points, and that seems good for us. we stay in the studios and travel 2-3 times a year. In the future we will move to a 1 bedroom and travel once a year.

 

[Granny]

If you call DVC, they will assign a member guide to answer any question and walk you through every step.

He/she will explain your options, including financing and Magical Beginnings (MB)where you essentially rent back the first year's points to Disney to lower your purchase price.

I did not use the MB offer because I wanted my first year of points and I could afford the purchase price without using MB. Whether it is worth it is an individual choice. I will say that many have done so.

If you have not done so, you should definitely read carefully the FAQ's about DVC on this board. http://www.disboards.com/forums/showthread.php?s=&threadid=1571

Also, some unsolicited advice. Browse this board often, post questions and work through the decision process. And buy the resort where you will want to stay most often. That is important due to the reservation advantage you have at your "home resort" of 11 months in advance vs. 7 months everywhere else.

 

[WebmasterDoc]

Since you took the tour recently, you have a guide assigned (the one who worked with you that day.) The "30 day" issue only applies to any special financing offer they may have made to you at the time. They, in the past, have been pretty strict about adhering to that timetable.

As for the MB offer, the answer depends on your personal situation. If you have no plans for the points and would like to use them to reduce your downpayment- the MB program will save some $$$. If you already have some trips planned where those points could save you some reservation costs. No wrong answers there, just what works best for yor situation.

Enjoy!

 

[drusba]

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.