Bankruptcy Liquidator selling 150 BCV on E-bay

[disneyeveryyear]

Once again, the Bankruptcy liquidator is selling DVC on E-bay. This time it entails 150 BCV points with a starting bid of $7,500.00 Now that would be a deal. I always wonder if these get through ROFR any differently than other contracts.

This one appears to be 2 years in arrears on its MFs. It is over $1,800 (I assume this includes interest).

I wish I could convince DH to give it a try. Nothing ventured nothing gained.

For those who are interested:

http://cgi.ebay.com/Bankruptcy-Sale...1QQihZ005QQcategoryZ15897QQrdZ1QQcmdZViewItem

 

[kidsister]

Last year I bid on and won somethign with this particular auctioneer.
After I won the bid I found it difficult to get info from them re liens on it, and it was a Fairfield property and I couldn't get any info from them until AFTER I paid...hmmmmmmm

Eventually I contacted the owner in bankruptcy, got the necessary password and contract number and found there was about $2k in undisclosed fees to pay in addition....so I told the auction company and backed out of the deal...They were not happy and threatened me...but I stood my ground and luckily Ebay believed me (I hadn't paid any money but I didn't want to hurt my good rating on Ebay)

So...this would be a GREAT deal but I dont' like the company.

Re ROFR: this is interesting, since Disney could obviously sell it for much more and sell the 2006 and 2007 points too to make the MF fees. It does look as if the 2005 fees are also in arrears with no points to get for paying for those.
But CAN Disney ROFR a bankruptcy...I wonder.

 

[CarolA]

There was a LONG thread on this for one and the verdict seems to be that this has to pass ROFR just like any other sale.

 

[bpmorley]

I just threw a bid in. I'll let you know how it turns out.

 

[mjy]

There was a LONG thread on this for one and the verdict seems to be that this has to pass ROFR just like any other sale.

And this is also in the description on the page on EBay:
"Disney has the right of first refusal. The sale cannot be completed with the winning bidder until the right of first refusal has been waived. Payment is required to request the Waiver and will be returned to the Buyer if Disney exercises their Right."

 

[disneyeveryyear]

I know it will still go through ROFR, but I also remember that early in the ROFR thread, a DVC member sold her VB (or HH) contract on E-bay at quite a bit below the ROFR threshold. Hers passed ROFR and I have just wondered if DVC seems to shy away from E-bay auctions.

I am not sure if you are paying 2005 dues also, or if there is just a lot of interest that has accrued for 2006 and 2007 dues.

I will anxiously await to hear what happens with your bid.

re: liens and such, I did see that the liquidator states that he does not look into liens or anything else.

 

[disneynutz]

Once again, the Bankruptcy liquidator is selling DVC on E-bay. This time it entails 150 BCV points with a starting bid of $7,500.00 Now that would be a deal. I always wonder if these get through ROFR any differently than other contracts.

This one appears to be 2 years in arrears on its MFs. It is over $1,800 (I assume this includes interest).

I wish I could convince DH to give it a try. Nothing ventured nothing gained.

For those who are interested:

http://cgi.ebay.com/Bankruptcy-Sale...1QQihZ005QQcategoryZ15897QQrdZ1QQcmdZViewItem

Caution is in order here. Make sure that you cover your *ss! The owners middle initial is incorrect. Problem, maybe not. He also owns BWV. Where is the ebay listing for that property? At what point does DVD foreclose on the property for unpaid back dues? Are they in the process of foreclosing now? If you win the bid and the deal falls through, how long will the seller keep your money? Could take years for them to process your refund. They don't accept credit cards so you have no recourse with the bank. Good luck bidders.

 

[bluslag]

How do you know the owners middle initial is wrong? Also, would you get the points from 2005,2006 or just pay the mf's. Would you also owe the mf's for 2007 or are they included in that cost? Do you have to pay the entire amount of the sale and then wait for ROFR? That would be out quite of lot of money for some time. When you buy from timeshare store don't you just put a deposit untill you hear if it passes?

 

[disneynutz]

How do you know the owners middle initial is wrong? Also, would you get the points from 2005,2006 or just pay the mf's. Would you also owe the mf's for 2007 or are they included in that cost? Do you have to pay the entire amount of the sale and then wait for ROFR? That would be out quite of lot of money for some time. When you buy from timeshare store don't you just put a deposit untill you hear if it passes?

Read the ebay listing for the terms of the sale. Public records indicate that the ebay listing has a incorrect middle initial. Point rules apply. If the points were not banked you lose them. Fees for 2007 are not included in the price. Every seller has their own deposit requirements.

 

[disneyeveryyear]

Caution is in order here. Make sure that you cover your *ss! The owners middle initial is incorrect. Problem, maybe not. He also owns BWV. Where is the ebay listing for that property? At what point does DVD foreclose on the property for unpaid back dues? Are they in the process of foreclosing now? If you win the bid and the deal falls through, how long will the seller keep your money? Could take years for them to process your refund. They don't accept credit cards so you have no recourse with the bank. Good luck bidders.

Actually, I found the listing for the BWV points tonight. They are at $8,100 for the 150 points.

http://cgi.ebay.com/Bankruptcy-Sale...8QQihZ005QQcategoryZ15897QQrdZ1QQcmdZViewItem

 

[3DisneyKids]

This will be interesting to watch...though as long as Disney has ROFR, this likely won't be a great bargain.

 

[wdwstar]

Its up to 9,100 and with only 3 bidders. that is still a great price $60.666
a point and its at the BCV, this will be interesting if it passes ROFR.

 

[bpmorley]

Its up to 9,100 and with only 3 bidders. that is still a great price $60.666
a point and its at the BCV, this will be interesting if it passes ROFR.

It would be higher, but because I've bought or sold anything on EBay they won't let me bid

 

[disneyeveryyear]

It would be higher, but because I've bought or sold anything on EBay they won't let me bid

I assume you meant you have "never" bought or sold on e-bay. I believe if you contact the seller he will "unblock" your name so you can bid, if you convince him you are seriously interested.

You probably need to make an e-bay account first.

 

[bpmorley]

I assume you meant you have "never" bought or sold on e-bay. I believe if you contact the seller he will "unblock" your name so you can bid, if you convince him you are seriously interested.

You probably need to make an e-bay account first.

You are correct, that was a typo. I've had the account for years, but never used it. I did contact them and they said they wouldn't unblock me

 

[tomandrobin]

Its up to 9,100 and with only 3 bidders. that is still a great price $60.666
a point and its at the BCV, this will be interesting if it passes ROFR.

Don't forget to include the closing costs, Mf and past dues on that price!

$695.09. + $1,843.99 + $200.00 = $18.26 per point

$18.26 + $60.66 = $78.92 is the current sale price, and hopefully no other hidden fees or costs!

 

[disneyeveryyear]

You are correct, that was a typo. I've had the account for years, but never used it. I did contact them and they said they wouldn't unblock me

I am sorry to hear that they won't unblock it for you. We'll have to watch and see what happens.

 

[bpmorley]

I am sorry to hear that they won't unblock it for you. We'll have to watch and see what happens.

The funny part is that they let me put the first bid in. Then after I got outbid, they wouldn't let me bid again. I'm anxious to see how it turns out. So far it looks like a great deal for whoever gets it.

 

[calypso*a*go-go]

Caution is in order here. Make sure that you cover your *ss! The owners middle initial is incorrect. Problem, maybe not. He also owns BWV. Where is the ebay listing for that property? At what point does DVD foreclose on the property for unpaid back dues? Are they in the process of foreclosing now? If you win the bid and the deal falls through, how long will the seller keep your money? Could take years for them to process your refund. They don't accept credit cards so you have no recourse with the bank. Good luck bidders.

The BWV property is listed on ebay as well. I think this one might be a little too "iffy". There are 2006 points involved with an October use year...that doesn't give much time to use them if they weren't banked. Even if it passed ROFR, I would think it would take at least a month or two before this transaction could possibly be completed. Plus it would leave points that would have to be used right around F&W Festival (which as we all know, is one of the peak times for DVC).

 

[wdwstar]

Don't forget to include the closing costs, Mf and past dues on that price!

$695.09. + $1,843.99 + $200.00 = $18.26 per point

$18.26 + $60.66 = $78.92 is the current sale price, and hopefully no other hidden fees or costs!

oh, yes you are right i forgot about the past dues, i didnt add the closing costs because even if you bought a dvc resale you would have to pay closing cost, unless you just buy dvc direct and then with the higher rate its almost like buying resale with the closing costs, i look at it one washes the other.
thank you