Anyone watch new DVC Show, intriguing though on Resale Restrictions

[zavandor]

The resale restrictions in my opinion will be taken to court when the right resale buyer gets pissed and has deep pocket and a high moral compass to set Disney right.

I'm not sure someone with such deep pockets would buy a timeshare to begin with. I can see a lawsuit happening, but I'd say it might be something started as an Internet campaign, collecting many people annoyed by the restrcitions and ready to put in some contribution forward the costs. This kind of campaign might even get results before going to court, because of all the bad publicity associated that a corporation like Disney would like to avoid.

 

[Wakey]

I'm not sure someone with such deep pockets would buy a timeshare to begin with. I can see a lawsuit happening, but I'd say it might be something started as an Internet campaign, collecting many people annoyed by the restrcitions and ready to put in some contribution forward the costs. This kind of campaign might even get results before going to court, because of all the bad publicity associated that a corporation like Disney would like to avoid.

I agree- would likely be a class action, which many an attorney would possibly jump on if there had ever been a clear breach of statute or contract.

 

[Brianstl]

Quick side note- I love the DVC show. It’s so informative and everyone is so insightful regarding DVC.
Now to the topic... after Reflections is built I think Disney will get down to solving the DVC market once and for all. The earliest contracts will have less than 20 years remaining and short of an unforeseen circumstance I don’t think there will be any new DVC properties on the horizon (at least at WDW). So yes, I think Disney rolls their sleeves up and puts a plan in place for the future of DVC. I’ve said it before that the next time they roll out new contracts they should do so not based off of “home resorts” but rather booking windows. An 11 month booking privilege would carry the highest cost per point. And a 5 month booking privilege would carry the lowest cost per point. Additionally, Disney will phase out the resale market by forcing all non-direct resale contracts into the 5 month window regardless of what window was originally purchased. If all resorts were equal the home resort wouldn’t matter but let’s face it they’re not. VGF is much nicer and better located than SSR and their resale point values reflect that. By leveling the market you create a new supply/demand dynamic of 1)ensuring you purchase enough points to book your favorite resort(s). 2)ensuring you purchase a booking window that gives you the best opportunity to book at those resorts during your desired time prefer to visit.

Here’s a quick example:
We all know that BCV studios have been in high demand for a while now and to book a week in a studio you need to have about 130 points available. Also, if you miss the 11 month window you will most likely be out of luck with booking a studio.
So under my proposed system you would need to A) Buy around 130 points and B) purchase the 11 month booking option at the highest cost per point.

I don’t think the law would allow this because with a time share you are actually purchasing a share of a specific property. All owners(resale and direct) have to be treated the same when it comes to booking at the resort they own a part of.

 

[CLE2WDW]

Al

I'm not sure someone with such deep pockets would buy a timeshare to begin with. I can see a lawsuit happening, but I'd say it might be something started as an Internet campaign, collecting many people annoyed by the restrcitions and ready to put in some contribution forward the costs. This kind of campaign might even get results before going to court, because of all the bad publicity associated that a corporation like Disney would like to avoid.

All it will take is for the right ambulance chaser to catch wind of this and they will put a class action lawsuit together and all DVC owners will get a check in the mail for $7.81.

 

[Sandisw]

Al

All it will take is for the right ambulance chaser to catch wind of this and they will put a class action lawsuit together and all DVC owners will get a check in the mail for $7.81.

I can’t see how anyone buying in at RIV would have any legal standing on the restriction. You buy based on terms put in place at original sale and in this case, the resale restriction is very well documented and no one can buy without knowing it.

If you agree when purchase, not sure how you can go back and sue. Anyone buying on the resale market buys knowing its there too. So, again, not sure what there is to sue about since you buy knowing what you are buying.

Now, the restrictions that were put on resale contracts of L14 resorts may be different because...and others are way more knowledgeable..those original contracts had some language that indicated resale and direct owners would have same rights.

RiV has no such language

 

[Drewferin]

I believe the lawyers would argue several fronts including how DVC and the trading association accepted Riviera into it with different terms than the other 14. If Riviera was going to be booted out of the trade association than DVC would remove the restrictions or risk law issues by direct owners of Riviera whom were promised this when they purchased.

 

[Sandisw]

I believe the lawyers would argue several fronts including how DVC and the trading association accepted Riviera into it with different terms than the other 14. If Riviera was going to be booted out of the trade association than DVC would remove the restrictions or risk law issues by direct owners of Riviera whom were promised this when they purchased.

Disney basically controls BVTC so there is that...

 

[RoseGold]

The restrictions have made it pretty clear to me that Disney wants to substantially restrict resale.

That means it's not the right product for me going forward. I only bought in at all because I knew the resale value and market were there, as opposed to all other timeshares. That's OK, the original resorts still have plenty of life left on them and I'm happy with that.

But yea, it's pretty obvious that DVC as we knew it is over.

 

[Drewferin]

Disney basically controls BVTC so there is that...

Keep in mind that BVTC fiduciary/ legal responsibility is to timeshare owners NOT Disney. This could be another issue named in a law suit.

 

[Sandisw]

Keep in mind that BVTC fiduciary/ legal responsibility is to timeshare owners NOT Disney. This could be another issue named in a law suit.

True..but from what I’ve read, the language with BTVC allows this I. Terms of the use of similar entry and technically, all owners prior to the entry of RIV has the same rights for that resort as all others,

So, any lawsuit, I would think, could only cover new owners who bought under new rules, I wonder if this is why everyone was grandfathered in as they can’t claim any harm.

 

[Lumpy1106]

I don't see it. Disney is re-selling contracts at a price they are setting. It's not like the resellers are getting any say on the price in fact. The way it is now gives them the ultimate flexibility. Let someone else do it; sure resale buyers are getting a better price, but should Disney decide to sell sold-out properties they are getting a really good deal too. We saw that last year as CCV was selling out and RIV wasn't on the market yet.

The question is, what happens as 2042 approaches? There is no way Disney will let the maintenance slip, or the properties go vacant, and that's an awful lot of inventory that is going to come available as the clock strikes midnight. I could totally see Disney offering a renewal contract to existing owners leading up to 2042 with a different price per point for direct and resale owners.

 

[RachStu]

The question is, what happens as 2042 approaches? There is no way Disney will let the maintenance slip, or the properties go vacant, and that's an awful lot of inventory that is going to come available as the clock strikes midnight. I could totally see Disney offering a renewal contract to existing owners leading up to 2042 with a different price per point for direct and resale owners.

What happens with OKW will be interesting. There will be a small pile of owners left in 2042 with extended contracts. Are they going to face increased dues? Presumably Disney can't remodel this property with the extended owners in place? Will the 2042 owners be offered a free or almost free extension to even things up? Will be interesting to see what happens.

 

[RoseGold]

What happens with OKW will be interesting. There will be a small pile of owners left in 2042 with extended contracts. Are they going to face increased dues? Presumably Disney can't remodel this property with the extended owners in place? Will the 2042 owners be offered a free or almost free extension to even things up? Will be interesting to see what happens.

I thought about this when I was thinking about buying a OKW extended contract, but I think Disney might just let it decline and book it cash. OKW shows up as a cheap cash booking option pretty often already, and the demand is there for cash buyers looking for value.

 

[GCorbett]

Al

All it will take is for the right ambulance chaser to catch wind of this and they will put a class action lawsuit together and all DVC owners will get a check in the mail for $7.81.

I suspect that there could be an attorney or two looking into a class action. They most likely would wait a year or two though. After all, if they succeed to quickly, that would limit the damages and ultimately, their fee.

 

[mustinjourney]

Now to the topic... after Reflections is built I think Disney will get down to solving the DVC market once and for all. The earliest contracts will have less than 20 years remaining and short of an unforeseen circumstance I don’t think there will be any new DVC properties on the horizon (at least at WDW).

there are still several more expansion areas.
There are spots near MK. One is right next to grand Floridian. Another is just outside MK near Adventureland. I believe they’ve talked about it on Len testas podcast. There’s also areas close to Tomorrowland. Not to mention the rumored BLT2.

don’t forget about the rumored front of Epcot hotel that was discussed a lot a year or two ago.

there’s plenty of expansion areas around DAK too.

 

[Sandisw]

I suspect that there could be an attorney or two looking into a class action. They most likely would wait a year or two though. After all, if they succeed to quickly, that would limit the damages and ultimately, their fee.

i just reviewed the paperwork and these were approved by the Florida Timeshare Bureau. I think that adds to the legality of it and any type of legal action would be a huge uphill battle.