Before you buy your resale.....

[Autumngirl]

Has this happened to anyone else......

We closed on our OKW resale in August.

We got our membership cards and the book with the points in it, but nothing else.

I called Membership services today to ask about the other books...rules, regulations, legal stuff, etc....

Basically I was told a resale member isn't the same and all that happened was the name was changed on the original contract in the system (which states the closing was in May of 1992) and that if I wanted that stuff, I have to get it from the original owners of the contract.

Lovely to know that after spending several thousand $$$$ I'm not a "real" Disney Vacation Club member.

 

[Cap]

You are just as real a member as anyone else. You have the deeded interest in DVC and a membership number. It's just like buying a preowned home or car. The builder or automaker doesn't give you a new set of appliance instructions or a new owners manual. Either you get them from the person who sold you the used house or car, or you do without.

You might be successful if you go back to your resale broker and ask them to see if the previous owners will send you the original documents. My suspicion is that many people never looked at them and just throw them out.

Or - if we really wanted to start a good project here, various site members could scan in pages and they could be saved online linked to the FAQ. What do board members think of doing that?

 

[Dean]

It sounds like you got the guidebook so the only thing's you need are the Public Offering statements for your resort and the Multi site POS. Simply contact DVC MS and ask them for those items. No more explanation required. What you shouldn't expect are things like the totebag and the like. You will even get a guide if you don't already have one.

 

[~Magical Princess~]

Hmmm, that's interesting - just a "simple" name change huh? So honestly, does Disney REALLY exercise that FROR (first right of refusal) or could contracts be selling for low prices? Honestly, if that's all it is is a name change, I can't see how the prices don't drop significantly??? Just a thought.

The contract we are currently looking at is at $56 per point (an astonishing low number I know ....) but I have no doubt that the price will go through, but now I'm wondering if we could have gone even lower??? This particular person lives in Florida and knows people at the DVC - she said Disney would not bother buying the points back, especially since it's OKW. Not sure how true that all is - but I'll keep you posted as to what happens!

 

[jctwizzer]

As a resale buyer, is there any particular reason you think Disney owes you something----since they didn't end up with any of those $$$$$$$$ you spent.......sounds like you got what you paid for.
YMHO

 

[~Magical Princess~]

Ouch, I don't think that was a very nice post at all. Disney is by no means hurting for money from DVC. And if Disney isn't going to give away the same perks or what have you, to those who buy "resale" - then people should sell for what they want. It doesn't matter what the "new" points (i.e, WVL if it's still open, and BCV) sell for whether it's $75, $80 or $90 - the bottom line is there's already 10 years off the contract and Disney already got their "money" from the original contract.

Obviously, t his must be an issue for debate: Resale DVC'ers vs. the regular DVC'ers.

Honestly (post of a different color), I'm honestly quite disturbed that points are MORE THAN DOUBLE for Friday/Saturday stays. That is really quite bad if you ask me! You can almost stay 5 days for staying 2 days if those days are Fri/Sat!

Anyhow, those are just my observations! Of course the main thing is DVC isn't for everyone, but I really love Disney and would love to be a part of the "magic ...." but we'll see! We've got a lot to think of!

 

[Dean]

Originally posted by jctwizzer
As a resale buyer, is there any particular reason you think Disney owes you something----since they didn't end up with any of those $$$$$$$$ you spent.......sounds like you got what you paid for.
YMHO

They owe her the rules they will hold the member to. Besides, they got their money upfront. They've simply chose not to deal with doing resales, they could if they wanted. They don't because there's not as much money in it.

 

[Autumngirl]

Thank you all for your replies.....

As a resale buyer, is there any particular reason you think Disney owes you something----since they didn't end up with any of those $$$$$$$$ you spent.......sounds like you got what you paid for.

Let me just clarify... did I ASK for a ANYTHING other than paperwork from Disney? NO, Did I WANT anything other than paperwork from Disney? NO. I can buy my own totebag, pins, cups or whatever else they happen to be giving out this month.

I wanted a copy of the rules and regulations that I am going to be held to..... obviously, in some peoples eyes that makes me a bad person because I'm "getting what I paid for". Just for the record, jctwizzer, I did not get this re-sale for free...AND I bought a resale because I wanted OKW not Vero Beach. I find your comments offensive. Which is unusual since people in here are usually friendly and helpful.

My biggest problem with the phone call yesterday was being told that as a "Resale Member" I wasn't the same as "real" DVC members.....I can only wonder what THAT means down the road.....

 

[TnRobin]

Autumngirl,

Rest assured, you are a "Real DVC-member." You will be treated like any other members. When you call MS to book reservations they will not know that you purchased a resale. I would call your resale broker and ask about getting the original owners documents. If not, why not try MS again and ask for another copy of the information. You do not have to mention that you are a resale owner, just ask for a copy of the Public Offering Statements.

Also let this be a friendly reminder to everyone. Do not let this thread turn into personal attacks.

 

[nisiemouse]

Magical Princess: Good luck with your resale. We purchased this year at $58 a point with all points from last year banked. I would be afraid to go lower than your $56 a point but maybe Dean can comment better on that. Hope that we'll be neighbors soon!

 

[Richyams]

They have to structure the points that way, if weekends were closer in value, Florida locals like me would use up all the weekend nights. This would make it impossible to book whole weeks.

You have to look at it as the cost of the week. Are those points worth the week vacation? If the answer is yes, buy.....if only the weekday point schedule looks acceptable, don't buy. They could even out the weekdays vs weekends at any time, then the 150 point package you bought expecting two five weekday trips will be chopped down considerably.

If you buy planning for whole week vacations, it can never change.

I don't get this hang up on weekend point costs, I think the reasons for the point structure are obvious and if you plan you vacation in whole and not to avoid weekends like the plague, you will stil find a dramatic savings with DVC.

 

[~Magical Princess~]

I think you've confused me a bit Rich, - for instance - we just stayed for almost 2 weeks in a 2br at OKW - requiring 328 points. Our Stay was from SUNDAY through the following next FRIDAY - so in that whole stay we only had "one" Friday/Saturday" combo.

BUT! Now that (or if they stick to) this first/come/first/serve deal - it almost makes you hAVE to check in on Friday because that's when peole check out! (All 12 of the different rooms I had specifically requested would have MAGICALLY been available on the following Friday after our Sunday check-in - but guess what - no one wanted to move - and I don't blame them!!).

I still don't get what you mean by Florida locals using up all the weekends - you mean just like "get-aways" I'm assumign right?

Either way, I will never like the weekend points issue, and I dont think Im alone.........

 

[d-r]

I completely understand about the weekends - they have to cost more because they are in more of a demand. We just bought at bcv, and we often take just weekend trips, but we knew that weekends use more points when we bought them. We didn't plan thinking about a "week" though - that doesn't really work for us that way. We bought thinking about one weekend trip, and one week day trip a year, knowing that we could use the points differently in different years. I am just saying that there is a lot of ways to think about how to use the points - different size accomodations, different times of the year, different times of week. Because it is for 40 years, our habits may change or things in our lives may change so that the way you use points will be different - I see that as a big plus of the dvc, you can use the points in many different ways, not just a specific week of the year.

DR

 

[drusba]

Autumngirl, as your experience shows, when you buy resale you won't be treated the same as a regular member -- you'll just be mistreated the same I would call again and ask although they seem protective of the offering circulars that contain all the legalese and rules. There may be other issues here. There has not been a major production of new OKW offerring circulars for several years simply because the resort is sold out; thus, they simply may not have enough copies left so they can distribute them; although they do sometimes have add-on resales for OKW as a result of getting back points and must have something for that. Moreover, they should at least be able to send you the one that applies multi-resort as they are undoubtedly using new ones for BCV. This may simply be a cost issue as they probably like to distribute those just to persons purchasing from DVD as they do cost something to make. That does not mean they won't give them to you but it likely means, in a typical corporate hierarchy, that someone higher up has set a rule to be followed by lower levels that they are not to distribute those other than for sales, and you need to get to that higher up to have the rule waived.

 

[DVCajun]

I agree that you should call again. My experiences with MS have been positive on the whole. They're really a nice group of people, and they've gone above and beyond for me before. One time I called and asked if I could buy some luggage tags (as you all know, they aren't available except on ebay!) and they sent me a nice little goody bag of things absolutely free! I thanked them by sending a Pear and Cheese basket from Harry & David. A nice trade I thought!

The point is, you'll probably get the help you need if you try again.

And, it's not a "simple name change." Otherwise, a closing wouldn't be required, just a phone call to MS changing the name! It's not a reservation, it's an ownership interest.

Hope I can get $56 a point when I buy my resale at BWV next year! Keep us posted on that one!

 

[joepoe]

Good luck. I hope it comes through for you!

Most properties I see are in the mid-sixties and seventies. Old pros like Dean may have the patience to search and bargain for weeks to find such deals, but I did not want to hassle that much, personally. Expect Disney to buy it back at that price, expecially since the retail price per point is going up to $84 soon. I think the "floor", where Disney will almost definitely buy it back, is in the low sixties now. DVC is the only company that I am aware of that buys back points to re-sell as add-ons. Even OKW!

 

[jona8484]

I'm in the process of buying a resale through Reid Realty and according to their FAQ section all resale purchasers through them will recieve a New Members Kit directly from Disney. I'm not exactly sure what that entails but I was under the assumption that it would include a rules and regulations guide. I can't believe that it would even be implied that you are not a "real" DVC member. If you've bought the contract , you are a "real" member with all the rights and priviliges that are given to those purchasing from Disney (Free pins, totes, backpacks and Booty in general excluded). Rule books are needed to be able to use the membership correctly and to it's fullest and I don't think it's unreasonable to asked to be provided with one. I'm sure that if you do something that goes against the rules that ignorance of the rules won't be an acceptable excuse so you need the rules!!!

 

[Autumngirl]

oh no no no..... you do not receive the same New Members Kit directly from Disney-at least not a far as I was told. I bought thru the Timeshare Storeand their FAQ's said the same thing and The DVC rep that I spoke to on the phone yesterday put me on the phone with a manager who told me the same thing the rep did. If I want that "stuff" then I have to get it from the company I bought the resale thru; that "technically" all that happened was the name on the original contract was changed in the system. Even my new membership cards state "Member since 1992".

Let me know if you have any better luck.

 

[Dean]

Originally posted by Autumngirl
My biggest problem with the phone call yesterday was being told that as a "Resale Member" I wasn't the same as "real" DVC members.....I can only wonder what THAT means down the road.....

Rest assured, this is the first time I've heard of DVC making one feel second rate for buying resale. It's also the first time I've heard of DVC refusing to give out the POS and the like, ask again. Don't worry what it means for the future, it has been a non issue for me and I own 3 resales and none directly from DVC.

 

[Dean]

Originally posted by ~Magical Princess~
Hmmm, that's interesting - just a "simple" name change huh? So honestly, does Disney REALLY exercise that FROR (first right of refusal) or could contracts be selling for low prices? Honestly, if that's all it is is a name change, I can't see how the prices don't drop significantly??? Just a thought.

The contract we are currently looking at is at $56 per point (an astonishing low number I know ....) but I have no doubt that the price will go through, but now I'm wondering if we could have gone even lower??? This particular person lives in Florida and knows people at the DVC - she said Disney would not bother buying the points back, especially since it's OKW. Not sure how true that all is - but I'll keep you posted as to what happens!

Without know specifics (# points, pts availability, Home resort, etc) it's impossible to make any definite judgements. This note seems to suggest that DVD doesn't buy any of the contracts back and I can tell you from first hand knowledge that is incorrect. It's hard for me to imagine any contract with current points at $56 per point not being bought back by DVD, unless it's HH or VB or if it's a large contract, say over 500 points. If the points are stripped, as mine was, one may get in at this level. If one wants to gamble to get the best deal or take the chance of no deal, I'm all for it but just know what you're getting in to.

The other issue that this post suggests to me is that this seller may have some influence over the choices DVC makes, I'd bet that ends up not being the case. I bet it doesn't go through at that level, how much I'd bet depends on the specifics.