Purchasing a DVC bankruptcy resale contract advice

Discussion in 'Purchasing DVC' started by friskygal95, Apr 2, 2013.

  1. DisneyFansInLINY

    DisneyFansInLINY DIS Veteran

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    I purchased a bankruptcy resale. Disney doesn't ROFR them because they don't like to get involved in those. It took over 3 months until everything was final. Once it passes ROFR, you have to wait for the judge to approve everything. Good luck and have patience you can find them through Fidelity and even on ebay
     
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  3. Daisyduck49

    Daisyduck49 Mouseketeer

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    We are in the beginning stages of a bankruptcy sale. First time buying "resale" but very excited if we can get through/by Disney. It will supplement our direct points perfectly. Has anyone heard of Disney taking a bankruptcy sale - we worded the contract with the bankruptcy part highlighted to try and deter the mouse :)
     
  4. dmunsil

    dmunsil Disney Uber-Nerd

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    Yes, I've seen Disney exercise ROFR on a bankruptcy sale. If the price is too low, they may take it. The resort they've been rarely exercising ROFR on is AKV, but even then they occasionally take something that has a really low price. And sometimes they don't take one with a really low price. It's possible that some contracts just look like too much trouble, but it's hard to know just from looking at the deeds. You don't get to see the contract, and you don't know whether it was stripped or loaded, who paid closing, etc.
     
  5. Daisyduck49

    Daisyduck49 Mouseketeer

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    Thanks. The sale consists of four resorts. Two Disney seems to want and two they rarely take. But the price is low so we don't want to get our hopes up too high
     
  6. jbullard01

    jbullard01 Earning My Ears

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    Where do you go to find a DVC bankruptcy listing? Is there a website that has bankruptcy DVCs listed?
     
  7. VrBchJ

    VrBchJ DIS Veteran

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    I'd like to know this too.
     
  8. CarolMN

    CarolMN DVC Co-Moderator Moderator

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    I've seen them on ebay.
     
  9. Nancy603

    Nancy603 Earning My Ears

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    How or where did you fid the DVC bankruptcies? I would be interested in purchasing
     
  10. MandM Mom

    MandM Mom Earning My Ears

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    I see that you purchased a bankruptcy resale last summer. A situation to buy points through a bankruptcy has presented itself to me and I'm curious as to how you educated yourself in the process. The available points are not listed by a broker; it would be a private sale so I'm trying to find out if there is a "how-to" tutorial out there. Thanks for any help.
     
  11. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    Personally I wouldn't take the chance, too many variables to deal with and Disney could take the contract if they wanted to.

    :earsboy: Bill
     
  12. Hunclemarco

    Hunclemarco DIS Veteran

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    Also, if done improperly, there could be sad consequences for those going through the bankruptcy and for you...the court could demand the contract back from you. Best to go through a lawyer if you pursue this.

    We did purchase a bankruptcy contract and all worked out ok, but we went through a reseller...fidelity
     

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