Anyone backing out?

[linzjane88]

Congrats to all who submitted to rofr before 4.4.16, and are card carrying members! Sorry it's been a crazy ride.

I'm feeling a little better about dvc now, although I'm still super wary....

You better believe I'm posting a picture of my card in hand when I have it!

 

[Dean]

I think they've been pretty ham-handed. Typical flawless DVC execution; they really look like the amateurs they are.

I know they don't owe anybody anything because they are not party to the transactions, but if I were them, I'd grandfather anyone who had been submitted for ROFR by 4/4. It costs them nothing and would make them look good (or at least, less bad). They way it is now it looks -- as someone perfectly described it -- "spiteful."

I don't think I agree, I certainly don't feel that drawing a line at the time of the letter is unreasonable or poor management. Letting those through with pending contracts already in ROFR was likely the plan all along. Certainly DVC has a history of being inconsistent and handling such matters poorly, I just don't see it for this one. They announced it, posted the info then clarified all within a couple of days. We did what DVC members and potential members always do, over reacted until we had a better idea of what was and was not going to be the reality.

I realized what resale lost as of 2011. When we bought resale I talked to Bernard, my original DVC guide about all my options. The lost perks from 2011 did not justify paying direct prices. We won't use those lost perks anyway. Sure Bernard tried to persuade me to buy direct, but I was assured that buying resale would not mean I was treated differently. And he was right, since I'm grandfathered in.

I'm not upset at the loss of perks, as I knew those can always come and go, but I would be bothered if I were treated like a second class member.

But those members are being treated like second class citizens already if you use that logic, the difference is you didn't see those of benefit to you. Within the few months you've been here the possibility of further changes has been mentioned by several even before this happened or was rumored.

I wouldn't be surprised if they never really WEREN'T going to grandfather those people in. I think this was a big misunderstanding on the part of the brokers. It wouldn't make sense for DVC to be so petty.

That would sound most likely but it is the right move IMO either way. Members and potential members need to realize there are many other things they can do and while I personally believe resale will always be the way to go $$$ wise, they could definitely narrow the gap dramatically if they wanted. One way is to not combine resale contracts to one's master contract.

 

[DMD2000]

I was at day 10 of my contract yesterday. Contract was sent to ROFR March 28. Cancelled my contract due to all the confusion (did the safe thing as I could always get another contract in the future) and today Disney changes the rules back...... Unbelievable

 

[bwvBound]

I was at day 10 of my contract yesterday. Contract was sent to ROFR March 28. Cancelled my contract due to all the confusion (did the safe thing as I could always get another contract in the future) and today Disney changes the rules back...... Unbelievable

So sorry!

 

[linzjane88]

I was at day 10 of my contract yesterday. Contract was sent to ROFR March 28. Cancelled my contract due to all the confusion (did the safe thing as I could always get another contract in the future) and today Disney changes the rules back...... Unbelievable

I'm sorry. I don't have anything to say other than .
This has been days of roller coaster emotions.

 

[npmadsen]

I was at day 10 of my contract yesterday. Contract was sent to ROFR March 28. Cancelled my contract due to all the confusion (did the safe thing as I could always get another contract in the future) and today Disney changes the rules back...... Unbelievable

Very sorry

 

[ziravan]

I was at day 10 of my contract yesterday. Contract was sent to ROFR March 28. Cancelled my contract due to all the confusion (did the safe thing as I could always get another contract in the future) and today Disney changes the rules back...... Unbelievable

No worries. You did the right thing. How could you not exercise recission given all the unknowns?

You could call the broker right now and see if they informed DVC yet of your decision and if not, ask to "undo" it given the confusion.

 

[DMD2000]

No worries. You did the right thing. How could you not exercise recission given all the unknowns?

You could call the broker right now and see if they informed DVC yet of your decision and if not, ask to "undo" it given the confusion.

The broker is doing that right now to see if they will undo it. We will see how it shakes out. So many ramifications for Disneys incompetence.

 

[ziravan]

The broker is doing that right now to see if they will undo it. We will see how it shakes out. So many ramifications for Disneys incompetence.

If not, you'll still be OK.

Resale prices will prob drop, at least short term.

Find another contract for 25 points less, buy that resale and then add 25 points direct.

For example, if last week an AKV contract went for $90 and you wanted 150 points, then the contract would have been for $13,500.

Now, though, say prices drop over the next few weeks to $85. If you buy 125 at $85 then that's $10,625. Add on a 25 point direct contract at $140 for $3500 and now total cost is $14,125 and all benefits restored at a cost of $625.

Definitely worth that much to protect your interests yesterday. And if the market drops more, could even become a breakeven deal.

I'm not saying the market will drop long term, although I think it will. But with the uncertainty, it almost certainly will see a short term drop over the next month or two.

 

[Ohana2011]

I was at day 10 of my contract yesterday. Contract was sent to ROFR March 28. Cancelled my contract due to all the confusion (did the safe thing as I could always get another contract in the future) and today Disney changes the rules back...... Unbelievable

Sorry, DMD2000.

 

[kenban]

If not, you'll still be OK.

Resale prices will prob drop, at least short term.

Find another contract for 25 points less, buy that resale and then add 25 points direct.

For example, if last week an AKV contract went for $90 and you wanted 150 points, then the contract would have been for $13,500.

Now, though, say prices drop over the next few weeks to $85. If you buy 125 at $85 then that's $10,625. Add on a 25 point direct contract at $140 for $3500 and now total cost is $14,125 and all benefits restored at a cost of $625.

Definitely worth that much to protect your interests yesterday. And if the market drops more, could even become a breakeven deal.

I'm not saying the market will drop long term, although I think it will. But with the uncertainty, it almost certainly will see a short term drop over the next month or two.

I have been wondering about a short term drop. I am not certain there will be much of a drop. Short term drops are somewhat at the whim of Disney since they can prevent it through ROFR.

Having said that what you just outlined is exactly what I am thinking about doing. Buy a resale and then if I decide I want the extra benefits just buy a small number direct from Disney. I keep wishing for a new DVC at Disneyland and I would jump at a small package direct from from Disney because I would only be using it every 2 or 3 years anyways.

 

[Supplanter]

NOPE - not backing out.
Saving way more buying resale than we would have ever saved with a 10-15% discount on goods and services. (Many of which we likely wouldn't have used anyway!)
We aren't in it for perks, we're buying it for a great place to stay year over year.

I understand the feeling of being burnt that some people may be having, but there is clear language everywhere that the benefits are not guaranteed and can be rescinded at any time.

My only thought for backing out is to see where the new price point on resales falls to. If it knocks even just 5 dollars a point off, it could add up to a couple thousand in savings.

Since Disney decided to include my contract (sent for rofr 3/28) I'm not backing out, but I will be watching the resales and if they fall some more I may grab a couple and see what happens in rofr. Already I can make some money renting points. If the price drops further I'd happily pick up a few hundred more.

 

[Dean]

My only thought for backing out is to see where the new price point on resales falls to. If it knocks even just 5 dollars a point off, it could add up to a couple thousand in savings.

Since Disney decided to include my contract (sent for rofr 3/28) I'm not backing out, but I will be watching the resales and if they fall some more I may grab a couple and see what happens in rofr. Already I can make some money renting points. If the price drops further I'd happily pick up a few hundred more.

$5 pp on 200 is $1000 but a year of points is worth around $3K. If one saves $5 pp and it takes an extra 4 months, it's essentially break even all things considered. IMO there were other and more applicable factors last time. The economy and fact DVC was not exercising ROFR really at all were far bigger factors than the resale restrictions IMO. Regardless, all the change did was define what people were buying and force them to think about the real value of the options they were giving up. Now if prices drop to the low of a few years ago, that's a different story and it would have worked out well to wait.

 

[Supplanter]

Doesn't the savings of thousands of dollars in buying resale, versus direct, sort of somewhat make up for not being able to use any of the perks (which can be cancelled or changed at any time anyway?) Just sayin.....
Other big time share companies have restrictions on perks if one buys resale as well. Seems to be the way timeshares generally work, and it took DVC a little longer to enforce same? Just one way of looking at it.

Because for many of us on this board it isn't that. We negotiated, signed contracts, sent deposits, etc... All with the belief ours would be treated the same as any other. Then bam after all that now I'm potentially stuck with a second rate deal.

I don't get to do the math. That's the irritation. The math I did just got changed after I turned in the test and I'm left to deal with it.

If I had known this, I would have negotiated for a bigger discount. Why should I pay the same rate as someone who has the potential to save thousands in discounts over the course of their deal?

Overall the deal is still good for accommodations, but pulling this on a bunch of people stuck under contract isn't the right way to do business.

 

[Supplanter]

No they are not. That is not what ROFR is.

But it does change negotiations. I passed on an SSR 500 point deal @50 dollars a point because I knew I'd be doing nothing but wasting my time helping the person sell them back to Disney. It does change negotiations when everyone is aware there's a guy with bottomless pockets standing next to the seller waiting to take advantage of any good deal you find.

 

[pmaurer74]

But it does change negotiations. I passed on an SSR 500 point deal @50 dollars a point because I knew I'd be doing nothing but wasting my time helping the person sell them back to Disney. It does change negotiations when everyone is aware there's a guy with bottomless pockets standing next to the seller waiting to take advantage of any good deal you find.

probably but I saw someone post on a Facebook DVC page they got AKV through ROFR at around $47 or so pp.

 

[Brian Noble]

DVD's pockets are not bottomless. We saw that during the recession. That would have been a great time for DVD to acquire a lot of points quite cheaply to hold for a while and sell down the road as travel demand recovered. They passed on that opportunity, deciding to spend their capital elsewhere.

 

[Supplanter]

probably but I saw someone post on a Facebook DVC page they got AKV through ROFR at around $47 or so pp.

Wow, guess I should've taken a shot at it. Kinda glad I didn't since the odds seem high they'd take it and if they did I wouldn't be in on the benefits, but I ended up paying the same price for 200 less points lol. Its the annual dues on 500 points that get crazy though.

 

[pangyal]

probably but I saw someone post on a Facebook DVC page they got AKV through ROFR at around $47 or so pp.

I have some qualms about taking that at face value to be honest.

 

[boxer11]

I have some qualms about taking that at face value to be honest.

What's the lowest AKV passing ROFR you can remember off hand $74-80pp? That $47 or so pp seems pretty low.