Access to Rule book and other fine details before purchase?

[eileenfk]

Hi,

Has anyone purchased a re-sale OR a new membership from DVC, without being given the rule book and/or or documents with the other fine details of the DVC, before signing the purchase papers?

I am really curious about some fine points, mostly related to what the DVC can and can not change in the future.
Does anyone know what document I should read to determine this. Does anyone know where I can get access to this document?
Is all of this in the "rule" book I often see posts refer to?

From what I can see, reading the documents I have been provided with, I am actually buying a percent interest in a specific building, and the points are only a symbolic way of representing that ownership.

I realize, that by the current DVC practices, the building has no real significance.
My concerns are more around what the DVC can change and what they can not change.

Thank you
- Eileen

 

[CarolMN]

IIRC, all the things you speak about are in the paperwork you get when you purchase. I read about them at that time, before I signed and sent eveything back. Also discussed some of them with the DVC Quality Assurance employee who called to make sure we understood everything.

We did not get any paperwork before we agreed to purchase, but our guide patiently answered every single question we asked (and a few we didn't, LOL).

Good luck with your decision.

 

[ronw]

Call your guide and ask for a copy of the current public offering statement.

 

[ryoung]

When I bought resale, I had my sales agent send me a copy of the book and information that one get's upon signing. You can sign the contract but put in a contingency clause giving you a few days to review and approve the terms and condition upon receipt of the book before closing.

Good luck. PS I didn;t find any surprises.

MN Lakes Dad

 

[eileenfk]

Thank you

I did just ask my resale agent to send me something.
She said it was a huge book that covered several time shares, which is probably way more then I need.

I also sent the DVC an email, asking if they could provide me with any information.

I really feel like I failed to do as much research as I could have before I sent in my deposit and started this process.

I am going to feel guilty IF I back out of this sale at this point.
The re-seller has invested her time. The seller has had the contract in a "Sale Pending" state for about 3 weeks, possibly preventing another buyer from making an offer on it.
IF they keep my $2000 deposit, then that will relieve a lot of the guilt.

If I back out of this, there is a really good chance I will buy another contract from the same timeshare agent, but I will know more about what to look for BEFORE making my initial offer.

The same day I got a message, saying that the DVC papers were ready, I also received my Pal Mickey doll in the mail (which I had ordered direct from WDW).
I was really excited about both events. Then I discovered that My Pal Mickey doesn't work right, and the building my DVC membership is for is one I would never want to stay in. Maybe the Pal Mickey not working is some kind of a sign or something. Maybe my Pal is trying to tell me something.



- Eileen

 

[Diznut84]

eileenfk, although I do not know your specific concerns, I would encourage you to ask your questions immediately here on the board prior to cancelling any agreement.

One reason is that you really don't want to sacrifice that $2000. DVC points have actually increased in value over time. If you are not sure, you are probably better of to try and use them for a year or two, perhaps rent out any excess points that you have, and then resell if you choose to do so. There is a very good chance you will want to keep your membership. If you enjoy staying on Disney grounds, it will almost certainly make sense to keep it.

Please feel free to fire away with your questions!

 

[Jimbo]

I discovered that My Pal Mickey doesn't work right, and the building my DVC membership is for is one I would never want to stay in.

The building number is absolutely, 100% meaningless. I have no idea what buildings my two contracts are for. It just doesn't matter.

 

[Jimbo]

I should clarify that it's meaningless on a resale, which is what you're buying. For new construction, like SSR, you can't use your points until your building is made available for use.

But you don't have to worry.

 

[CarolMN]

Just posting to agree with Jimbo. The building in your contract means absolutely nothing as far as making reservations or using your membership. Nothing!! Even with SSR (and you are buying a resale so you're not getting SSR, LOL), it won't matter at all after the building opens.

Feel free to ask questions if there is something specific bothering you - maybe we can help!

Best wishes -

P.S. Don't feel guilty if you decide to back out. This is a big decision and you need to feel good about it. The seller may b disappointed but will find another buyer - it doesn't have to be you!

 

[eileenfk]

Hi,

Thank you for all of the responses.

After gathering all the data I could (in the limited time I gave myself), I came to the conclusion, that any risk associated with a particular building is a very small percent of the over all risk involved.
The details have been mailed to me, and I am certain I will not find anything in them, that changes my assessment of the risk.
If I do, I will let people know.

(P.S. My Pal Mickey finally started working correctly , so I think he wanted me to sign the papers. Maybe he just needed breaking in a little )

- Eileen

 

[Dean]

I'd agree that a specific building or "unit" has no meaning on the front side of a resale except maybe VB. The only issues where it might matter would be if a resort is being built in phases and that building were coming online later than some others OR if a part of a resort were out of commission for any reason like damage, government action and the like. Since there's no way to anticipate which units might be affected, it still doesn't matter for purchases. The only other difference might be for VB where the dues vary from some phases to another but original purchase date is a better marker than unit number.

 

[Disney Hot Mama]

I will ditto the remarks on the building number. We own at BCV and just recently closed a resale at OKW. I have no idea what our building numbers are. I don't care. It has no impact on our reservations.

Good luck with your decision.