What is considered the purchase date?

[amypetecar]

Is it the day you pass ROFR or the day you actually close?..... Or a different day?

The spirit of my question is i returned my closing documents, and must now wait for the seller to sign, return documents, and then actually close on the property.

With rumored changes coming to resale contracts on thursday, i just wonder if i have to worry about losing benefits i thought i would have when i purchased resale?

 

[Disneymagicforme]

I was wondering the same thing. We sent in our final paperwork and money on Nov. 21st and are waiting (not really patiently) for the sellers to return theirs.

 

[disneynutz]

The last restriction grandfathered any contract submitted for ROFR by the effective date.

Bill

 

[wdrl]

Is it the day you pass ROFR or the day you actually close?..... Or a different day?

Passing ROFR is just one of several steps in the process of purchasing a DVC deed on the resale market. Until the title is legally changed to your name, you have not purchased the deed.

The last -- and only -- time DVC placed restrictions on resales points was in early 2011. In January 2011 it announced that deeds submitted to ROFR on or after March 20, 2011, would be subject to certain exchange limitations. DVD changed the language of the Notice of Waiver of Right of First Refusal to reflect this change in policy (see http://dvcnews.com/index.php?option=com_content&view=article&id=1628&Itemid=1 for further information).

Keep in mind that DVC is under no obligation to use the same announcement process or determination date if it imposes any resale restrictions in the future. It may do exactly the same as in 2011, or it may do something entirely different.

My advice is don't worry about things that haven't happened. If you let rumors dictate what you should or should not do, then you'll be paralyzed with fear and won't accomplish anything. Having spent many years working in a large bureaucracy, I've come to realize that people who know aren't talking and people who are talking don't know.

 

[jimim]

Passing ROFR is just one of several steps in the process of purchasing a DVC deed on the resale market. Until the title is legally changed to your name, you have not purchased the deed.

The last -- and only -- time DVC placed restrictions on resales points was in early 2011. In January 2011 it announced that deeds submitted to ROFR on or after March 20, 2011, would be subject to certain exchange limitations. DVD changed the language of the Notice of Waiver of Right of First Refusal to reflect this change in policy (see http://dvcnews.com/index.php?option=com_content&view=article&id=1628&Itemid=1 for further information).

Keep in mind that DVC is under no obligation to use the same announcement process or determination date if it imposes any resale restrictions in the future. It may do exactly the same as in 2011, or it may do something entirely different.

My advice is don't worry about things that haven't happened. If you let rumors dictate what you should or should not do, then you'll be paralyzed with fear and won't accomplish anything. Having spent many years working in a large bureaucracy, I've come to realize that people who know aren't talking and people who are talking don't know.

that is some of the best advice i have read in the past few weeks. it is true. so many times on any internet board "the sky is always falling" and then people start to worry and don't go through with something that might or might not even happen. i know there have been changes to DVC in general for years now, but 2011 was the first change made on resale contracts since the beginning correct?

we are waiting to get through ROFR and what i'm thinking about right now is booking a june and october trip!

 

[disneynutz]

that is some of the best advice i have read in the past few weeks. it is true. so many times on any internet board "the sky is always falling" and then people start to worry and don't go through with something that might or might not even happen. i know there have been changes to DVC in general for years now, but 2011 was the first change made on resale contracts since the beginning correct?

we are waiting to get through ROFR and what i'm thinking about right now is booking a june and october trip!

I wouldn't worry about the unknown but people need to realize that the sky could fall. Many feel that Disney can do no wrong and that they would never do anything that would negatively affect DVC owners, that sadly just isn't true.

2011 was the first resale restriction but just one of many changes for direct and resale owners.

Bill

 

[amypetecar]

I love that line, "the people in the know arent talking and the people talking arent in the know"


Also sound advise to just be aware of what could happen/change in the future as it is a consideration of purchase.

If it helps, the good people at fidelity resales have gotten a few calls asking about tomorrows meeting. I was told on the phone that fidelity reached out to disney to ask about changes, and the response was that there are no changes planned to be announced tomorrow.

Then the disney manager asked the fidelity rep who was communicating the false information. The fidelity rep responded that its kind of all over the place, but the source of the rumors seem to center around dvc sales reps using it as a scare tactic to buying direct.

How much of this is accurate? Who knows! I doubt a disney manager would say what confidential changes are coming before the announcement anyway, but since that person denied changes were coming as opposed to a generic "we'll have to wait and see...." Makes me think tomorrows meeting will be anti- climatic

 

[disneynutz]

I love that line, "the people in the know arent talking and the people talking arent in the know"


Also sound advise to just be aware of what could happen/change in the future as it is a consideration of purchase.

If it helps, the good people at fidelity resales have gotten a few calls asking about tomorrows meeting. I was told on the phone that fidelity reached out to disney to ask about changes, and the response was that there are no changes planned to be announced tomorrow.

Then the disney manager asked the fidelity rep who was communicating the false information. The fidelity rep responded that its kind of all over the place, but the source of the rumors seem to center around dvc sales reps using it as a scare tactic to buying direct.

How much of this is accurate? Who knows! I doubt a disney manager would say what confidential changes are coming before the announcement anyway, but since that person denied changes were coming as opposed to a generic "we'll have to wait and see...." Makes me think tomorrows meeting will be anti- climatic

Disney would never announce a negative change during a public meeting even though they have security present, they aren't stupid. They do tend to announce all of the positive fun stuff that puts people in a great mood.

Bill

 

[drusba]

Disney would never announce a negative change during a public meeting even though they have security present, they aren't stupid. They do tend to announce all of the positive fun stuff that puts people in a great mood.

Bill

Almost correct because it depends on what you mean by negative. At the 2011 meeting they mentioned there were going to be changes to the point charts effective 2013 for some resorts (which turned out to be the Treehouse and BLT theme park to standard changes effective 2013) and, particularly for those who had bought at SSR enough points to get treehouses every time they went, the information turned out to be extremely negative. I am guessing, since we have not received 2014 charts yet, that another change is coming and it may be mentioned but not clearly defined at the meeting.