Did we buy an Aulani subsidized contract?

[Disfamwa]

Hello! We recently bought a 100 point December use year Aulani contract that was sold as a regular contract. I just got the dues statement and it seems like it is a subsidized contract? It’s my first dues statement, so maybe I’m reading it wrong? I’ve been prepaying dues with discounted gift cards, so maybe that’s throwing me off.

A more experience owners explanation would be greatly appreciated!

 

[AwfulWaffle]

Just go to your transaction details and you should see a line entry “Billing Charge”. Divide that by 100 and you have your point rate.

 

[intamin]

Hello! We recently bought a 100 point December use year Aulani contract that was sold as a regular contract. I just got the dues statement and it seems like it is a subsidized contract? It’s my first dues statement, so maybe I’m reading it wrong? I’ve been prepaying dues with discounted gift cards, so maybe that’s throwing me off.

A more experience owners explanation would be greatly appreciated!

View attachment 818315

Can you pull up the transaction history? It should say billing adjustment like mine does on the bottom if it's subsidized.

 

[Disfamwa]

View attachment 818316

Can you pull up the transaction history? It should say billing adjustment like mine does on the bottom if it's subsidized.

I see the billing adjustment on it. I was also just adding up the specific charges on the dues statement and saw a dev credit. It seems like it is subsidized. Is this what your subsidized contract shows? Thanks for your help!

 

[intamin]

I see the billing adjustment on it. I was also just adding up the specific charges on the dues statement and saw a dev credit. It seems like it is subsidized. Is this what your subsidized contract shows? Thanks for your help!




View attachment 818323

That -2.4235 is the difference from 9.76 to 7.33 which is the subsidized dues amount. Aloha to the sub dues Aulani club.

 

[Disfamwa]

That -2.4235 is the difference from 9.76 to 7.33 which is the subsidized dues amount. Welcome to the sub dues Aulani club.

Thank you so much for your help! I feel like this is the equivalent of winning the DVC resale lottery lol

 

[intamin]

Thank you so much for your help! I feel like this is the equivalent of winning the DVC resale lottery lol

No problem and it definitely is, nice little Christmas gift to you

 

[AstroBlasters]

Thank you so much for your help! I feel like this is the equivalent of winning the DVC resale lottery lol

It 100% is. The sellers agent cost the seller a lot of money, but it worked out in your favor!

 

[intamin]

Thank you so much for your help! I feel like this is the equivalent of winning the DVC resale lottery lol

Which broker did you get the contract from btw?

 

[Disfamwa]

It 100% is. The sellers agent cost the seller a lot of money, but it worked out in your favor!

It seems like it was the perfect storm for this to slip through the cracks because the broker we used seemed to be steering all sellers towards not asking buyers to pay for 2023 maintenance fees (this was in October). The sellers probably never needed to submit anything about their dues amount since they weren’t asking for reimbursement on the 2022 or 2023 points.

Edit: I also think that December subsidized contracts seem to be very rare and may not be double checked to the extent that a March or February Aulani contract would be.

 

[Disfamwa]

Which broker did you get the contract from btw?

The board sponsor. The sellers were not asking for dues reimbursement on any of the points, so I bet this and the fact it was a December use year contract probably contributed to it being missed.

 

[AwfulWaffle]

The board sponsor

Congrats. I am shocked. Andy usually tries to get as much as you can for a contract

 

[Disfamwa]

Congrats. I am shocked. Andy usually tries to get as much as you can for a contract

I paid $115 (which I was happy with since the seller paid dues on ‘22 and ‘23 points and the size I wanted) so it was actually very close to the subsidized December Aulani contract you bought knowing you were getting a subsidized contract haha

 

[DanCali]

Congratulations on the jackpot.

You got something (small, subsidized with Dec UY) that others can wait for many months or years to find, and it will never show up.

The theoretical financial value of the Aulani subsidy using realistic assumptions is about $60-$90 per point which means a buyer should be willing to pay (up to) that much more for a subsidized Aulani contract vs an identical unsubsidized contract. Actual market prices are usually not as far apart because subsidized contracts tend to be undervalued, but it doesn't change what the real financial value is. You'll appreciate the actual windfall in future years when the unsubsidized dues become $12, $15, $20, and higher...!

 

[AwfulWaffle]

I paid $115 (which I was happy with since the seller paid dues on ‘22 and ‘23 points and the size I wanted) so it was actually very close to the subsidized December Aulani contract you bought knowing you were getting a subsidized contract haha

Nice double points and you still got it at a great price if it were flagged as subsidized. I only have 50 points so I won’t be going as often but we’ll make those 50 count!

 

[Disfamwa]

Congratulations on the jackpot.

You got something (small, subsidized with Dec UY) that others can wait for many months or years to find, and it will never show up.

The theoretical financial value of the Aulani subsidy using realistic assumptions is about $60-$90 per point which means a buyer should be willing to pay (up to) that much more for a subsidized Aulani contract vs an identical unsubsidized contract. Actual market prices are usually not as far apart because subsidized contracts tend to be undervalued, but it doesn't change what the real financial value is. You'll appreciate the actual windfall in future years when the unsubsidized dues become $12, $15, $20, and higher...

Great points! I’m not sure I’ll fully believe it until I see the dues subsidized dues again next year haha

 

[DanCali]

Great points! I’m not sure I’ll fully believe it until I see the dues subsidized dues again next year haha

No need to wait till next year to know for sure.

You can just go to the Hawaii Bureau of Conveyances website (https://bocdataext.hi.wcicloud.com/login.aspx - registration required) and search by grantor/grantee starting with the seller who sold it to you all the way back to the deed originated by Disney. Those documents are low resolution unless paid for and it may take 1-2 additional owners to find that original deed but unless you get unlucky with an owner name like John Smith, it should be rather easy to do. If that deed was signed before July 9, 2011 (may have been filed 10 days later), it's subsidized.

 

[Disfamwa]

No need to wait till next year to know for sure.

You can just go to the Hawaii Bureau of Conveyances website (https://bocdataext.hi.wcicloud.com/login.aspx - registration required) and search by grantor/grantee starting with the seller who sold it to you all the way back to the deed originated by Disney. Those documents are low resolution unless paid for and it may take 1-2 additional owners to find that original deed but unless you get unlucky with an owner name like John Smith, it should be rather easy to do. If that deed was signed before July 9, 2011 (may have been filed 10 days later), it's subsidized.

Thank you! I’m definitely going to check this out.

 

[emchen]

Thank you so much for your help! I feel like this is the equivalent of winning the DVC resale lottery lol

Congrats in winning the DVC lottery! The last time I read about a case like this was over a year ago. This is every AUL owners’ ultimate waking fantasy!

I do have over 650 sub points in two UY, but one of them is in DEC!

So jealous!!!

 

[FrannyFrogs]

You purchased a horse and brought it home only to discover it's a unicorn!