Buying 50 pt. contracts

[rigsby25]

I was going to get the 100 point contract to get the $8 off. Can you still get the $8 if you get 2 50 pt contracts or 4 25 pt contracts?

 

[Pennyguy23]

Yes you can. But if you want 25pt contracts you have to pay in full and can't finance it. 50pt contracts you can finance.

 

[Maistre Gracey]

Just my opinion, but I think 25 and 50 point contracts are a bit over hyped.
They may be more appealing for resale based on face value, but once you factor in closing costs the price can really increase. Closing costs of $250-$500 per contract on a 25 pointer can increase the cost per point by $10-$20. If somebody wanted 100 points why would they want to pay four times the closing costs?

In my opinion, a happy medium of 100-200 point contracts are the way to go.

MG

 

[kendzee94]

So let me ask this. I want 150 AKV points because I have to be on the tapestry. However, we will not be able to use all 150 developer points in time (7 months). Can I do a 100 and 50 contract and get $8 off one and developer points on the other. I'm pretty sure my answer is no, but I thought I would ask any of the experts for their opinion. (Yes, I'll be asking my guide tomorrow.)

 

[kimberh]

I'm not your expert but, I did talk to my guide yesterday. The way I understand it is, you have to buy 150 points in a lump sum or combination to get your name on the tapestry. To get the $8.00 discount, I had to turn down the developer points. These points were not AKV points and they were not bankable. I would have received the same amount that I bought. I took the $8.00 discount. Now this is the way that I understood it.

 

[greenban]

I'm not your expert but, I did talk to my guide yesterday. The way I understand it is, you have to buy 150 points in a lump sum or combination to get your name on the tapestry. To get the $8.00 discount, I had to turn down the developer points. These points were not AKV points and they were not bankable. I would have received the same amount that I bought. I took the $8.00 discount. Now this is the way that I understood it.

Hi Kimberh:

I am sure that is what you were told (not arguing with you ). I bought 5, 50-point add-ons and got them for $93.00 (no dev. points) and I am a founding member (Tapestry). So it CAN be done.

To the OP:

Splitting the contracts between discount and points, I would think not, but it never hurts to ask your guide.

Good luck and let us know!

-Tony

 

[kimberh]

Hi Kimberh:

I am sure that is what you were told (not arguing with you ). I bought 5, 50-point add-ons and got them for $93.00 (no dev. points) and I am a founding member (Tapestry). So it CAN be done.

To the OP:

Splitting the contracts between discount and points, I would think not, but it never hurts to ask your guide.

Good luck and let us know!

-Tony

Right, The points have to total 150. I thought I said ,in a combination. Sorry if I did not make that clear. I have been reading all of your post. You have been most helpful. I did not know on how the OP was wanting to break it up thou. I asked my guide about all the 50 point contract adding up to equal the 150 and no problem with being on the tapestry. I did not go that route.

 

[kendzee94]

From speaking with my guide, it sounds like I could only do one or the other (developer points or $8 pp off) unless my add on was 100 pts or more for each add on. So, I think I've decided to add 150 with the $8 pp discount because our next "planned trip" for my points use is in October (11-13) after the 7 day land/sea cruise. If I wanted to use the developer points 10/11-13, I would miss the tapestry cut off date by less than two weeks. Come on, I have to be on the tapestry and a founding member!!!!

 

[KingOMiami]

<---quite happy with his 50 point contract

 

[ScottOKW2K]

So let me ask this. I want 150 AKV points because I have to be on the tapestry. However, we will not be able to use all 150 developer points in time (7 months). Can I do a 100 and 50 contract and get $8 off one and developer points on the other. I'm pretty sure my answer is no, but I thought I would ask any of the experts for their opinion. (Yes, I'll be asking my guide tomorrow.)

I have already asked my guide this same question. To be able to take advantage of both the developer points and the $8 off discount you would have to do a minimum of 200 points in 2 (or more) contracts. Then you could get the $8 on one hundred point set and developer points on the other(s). For a 150 point purchase it's either discount or points, but not both. We decided on the $8 discount in this scenario.

 

[Dean]

I'm not your expert but, I did talk to my guide yesterday. The way I understand it is, you have to buy 150 points in a lump sum or combination to get your name on the tapestry. To get the $8.00 discount, I had to turn down the developer points. These points were not AKV points and they were not bankable. I would have received the same amount that I bought. I took the $8.00 discount. Now this is the way that I understood it.

It only has to total the amount needed. You can even add on two 75 for a 150 total and add others to the deed but it'd then be a separate contract. I just did 4 contracts of 25 each totalling 100 for the $8 discount. Since the developer points are far more restrictive that they were for SSR, I think the discount is a better deal for most people unless you could easily use them in the interim.

 

[rigsby25]

Now I have another question. Can you sell an add on? I have 210 pts. at OKW. If I bought a couple 50 pt. contracts at AKV, could I sell them in the future and keep the 210 pts. at OKW? Also - for those of you who bought the separate smaller contracts...do you know what the closing costs are? I saw 250 to 500. Is that each?

 

[Inkmahm]

Now I have another question. Can you sell an add on? I have 210 pts. at OKW. If I bought a couple 50 pt. contracts at AKV, could I sell them in the future and keep the 210 pts. at OKW? Also - for those of you who bought the separate smaller contracts...do you know what the closing costs are? I saw 250 to 500. Is that each?

Yes, you can sell the smaller contracts and keep your points at OKW. OR you could sell your large contract and keep the smaller ones!

The settlement statement for each of my 50 point contracts has Disney paying $114.20 for settlement charges. These include title insurance recording fees and tax stamps.

 

[rigsby25]

Hi Kimberh:

I am sure that is what you were told (not arguing with you ). I bought 5, 50-point add-ons and got them for $93.00 (no dev. points) and I am a founding member (Tapestry). So it CAN be done.

To the OP:

Splitting the contracts between discount and points, I would think not, but it never hurts to ask your guide.

Good luck and let us know!

-Tony

Who is your guide? My DH talked me into going ahead with the 100 points, and my guide said that in order to qualify for the $8.00 incentive, I had to buy 100 points in one lump sum. So I did. But there can't be two sets of rules. I didn't receive any paperwork yet, so I would love to get a definitive answer. Obviously, calling your guide isn't the way to get it.

 

[rigsby25]

Yes, you can sell the smaller contracts and keep your points at OKW. OR you could sell your large contract and keep the smaller ones!

The settlement statement for each of my 50 point contracts has Disney paying $114.20 for settlement charges. These include title insurance recording fees and tax stamps.

Was that included in the price per point? How much did you pay per point? My guide told me if I bought 100 points there are no closing costs; I would get them for 9300.00.

 

[Inkmahm]

Who is your guide? My DH talked me into going ahead with the 100 points, and my guide said that in order to qualify for the $8.00 incentive, I had to buy 100 points in one lump sum. So I did. But there can't be two sets of rules. I didn't receive any paperwork yet, so I would love to get a definitive answer. Obviously, calling your guide isn't the way to get it.

You didn't ask me but my guide is Byron. I got the $8 incentive on all 4 of my 50 point contracts. I'm sending the paperwork back to Disney today.

 

[Inkmahm]

Was that included in the price per point? How much did you pay per point? My guide told me if I bought 100 points there are no closing costs; I would get them for 9300.00.

I paid $18,600 for 4 contracts of 50 points each. The closing papers have Disney paying for the settlement costs. There are no closing costs to you if you're a member doing an add on as far as I know.

 

[rigsby25]

I am so thankful for your replies. I just called and although my guide isn't there, I explained my situation to a Quality Assurance Agent and she will talk to Linda and make sure that nothing is sent out until this is clear for me. If I get what I wanted, it will be thanks to the people on this board who replied.

 

[kdzgon]

Just my opinion, but I think 25 and 50 point contracts are a bit over hyped.
They may be more appealing for resale based on face value, but once you factor in closing costs the price can really increase. Closing costs of $250-$500 per contract on a 25 pointer can increase the cost per point by $10-$20. If somebody wanted 100 points why would they want to pay four times the closing costs?

In my opinion, a happy medium of 100-200 point contracts are the way to go.

MG

I don't think most people just purchasing 100 pts are looking to purchase multiple small contracts resale (and Disney doesn't charge closing costs for add-ons). I think the draw (of small contracts) is for those purchasing resale, wanting to get in to the system for less than the min purchase requirement of 150 (soon to be 160). It seems closing costs are usually paid by the buyer, not the seller of DVC contracts (although there is a ROFR fee for sellers). Commissions are a percentage of sales price, so that would not come in to play to any extent.

I have four "kids" and 2 step, so for us splitting contracts is more a nod to our (hopefully) distant futures when we pass on the contracts than a resale motive. 25 is a pretty small contract, IMO. Personally I would only do a 25 pt contract if that was all I could afford when I was adding on, and I'm only splitting contracts if it makes sense for the resort (ie, if there are corresponding stays one can get with the point configuration(s)).