Disney Vacation Club Membership

[MickeyAndFriends]

I'm so sorry for all of you out there that might be offended or angry at me but I'm just asking for a little bit of help. See my husband and I just finished buying Intrest in the Disney Vacation Club in Walt Disney World at the Disney's Wilderness Lodge Villas. I bought this just as we come home from our wonderful Disney World vacation this year with my 3 wonderful children but... In buying it as we sat on the plane coming home I began reading through the papers and My husband thinks that we have honestly been swindled by the sales representative at Disney. I dont know but he never told us that we weren't deeded and we can get charged double points if we show up to a resort 5 hours after check-in for that vacation. He also never told us that our membership expires in 2099. Which means none of my wonderful children can enjoy the vacation club. I think it was a very good Investment we made don't you?... He wants to sell it to Tri-Timeshares in our area in which we live in Pennsylvania and buy one at the new Calypso Cay Complex that theyre building because its cheaper and we have it forever now I'm here trying to open the ground for some comments. Thanks alot for all your help
Mickey and Friends

 

[DisOrBust]

First let me say WELCOME TO THE DIS!

There is DVC board all of it's own with great people and a great moderator "Doc" who can help you with your troubles. You may feel different after you talk to them. IF you do end up reselling there is a resale available thru these boards.

 

[fkj2]

Doc may move this to the DVC board but what do you mean, you're not deeded? You may not have it yet but DVC is ownership, of course you get a deed. Also, the DVC ownership reverts back to Disney in 2042, not 2099. And I've never heard of being charged "double" points for checking in 5 hours late. The worst that could happen is you lose that day's points if you don't show up at all but they can't fine you for showing up late. On what page of the agreement did you read this?

 

[Kaa]

I am moving this thread to the DVC board, where you will most likely get very helpful responses.

 

[Diznut84]

You may still be in your rescission period. If so, you can cancel your membership for no charge. Check your paperwork for details...

 

[PamOKW]

I think the jester means someone is pulling our leg with this one.

 

[MickeyAndFriends]

My husband and Son In Law were telling me these things im really sorry but i think i must have gotten mixed up, What i meant by Deeded was that it expired and it had no unlimited use to it like other resorts my friends have told me about. I really am thinking this through but my husband told me he has signed us up with the century 21 program and we'll have to see what kind of feedback we get with rates and rate matches but thanks alot. MickeyandFriends

 

[Rock'n Robin]

We just did an add-on and got a note yesterday to say our "deed was recorded". I have it right in front of me. We own 160 points at BWV and 100 at VWL.
Membership expires in 2042. I know we may not be able to pass our membership on either--we'll be 78 in 2042 and I have every intention of still being alive and kicking! But I can take my hoped-for grandchildren to WDW and see it through their eyes, as I see it now through the eyes of my 3,6 and 9 year olds.
Go back on these boards as far as you can stand, do searches on subjects that you are worried about. I think you'll realize you have done a cool thing. And boy is VWL pretty!
Robin M.

 

[MickeyAndFriends]

Hi, PamOKW sorry but I just thought the jester was like those hats that the people wear in jamaica i forgot i thought it went along with the calpyso resort that i mentioned sorry

 

[RobDoc]

It appears that you've been reading a different set of documents than anyone else signed. You do have the right to rescind the contract from Disney if you find you are disatisfied with your purchase and you won't even have to deal with Tri-Timeshares.

Actually, if your documents really say the things you mention, you may want to reconsider and keep the DVC membership- you seem to have some great provisions which none of the rest of us have.

I'd sure reread those documents- maybe even have your attorney review them for you.

Good Luck and Welcome Home!

 

[MickeyAndFriends]

Yeah, you know what since i have you people on here let me go see the papers myself. because i hadent seen them all i did was sign them so i really need to go through them again thanks again for all your help

 

[PamOKW]

I'm sorry Mickey but you sound very confused about what you've purchased. The people here can help you understand what you bought and you can then decide whether it's right for your family. I believe you can just cancel the purchase within the next few days.

 

[Lisa P.]

Originally posted by Rock'n Robin
We just did an add-on and got a note yesterday to say our "deed was recorded".

The word "deed" in most real estate dealings refers to actual land ownership. Disney has rather uniquely chosen to use the word "deed" when referring to DVC membership. In fact, your DVC deed is not to a land purchase/ownership. You have a deed to a leasehold. When the lease expires, so does your deed. This is confusing to many new Members. It's not the same as a traditional deed, as most timeshares do have, but functionally the same as a "right to use" (RTU) timeshare with more appealing wording. It's fine that it doesn't bother most DVC'ers who understand it - it didn't bother us at all either. But I've always felt that DVC's choice of the word "deed" for a leasehold sprinkled a little of the wrong kind of Disney Magic & Illusion here, bordering on deceitful. JMHO.

 

[SleepyatDVC]

If you felt that you have bought in haste and you are in the rescinding period, you can "cancel" the purchase with Disney. Just do it immediately. You can always buy in again later if you change your mind again.

If that's not an option anymore, hold off on selling right away. You might regret selling in haste also. Do your research, find out about DVC (through this site) as well as other timeshares and make an INFORMED decision. Even if you do decide to sell and buy elsewhere, check out the resale prices for DVC as well as where you want to purchase.

You can find out more about timeshares in general at www.tug2.net

NEVER pay any upfront costs to resale brokers to sell your timeshare. That's what the commission will be for. I believe Century 21 might insist on an appraisal fee? Many brokers won't need this. The Timeshare Store (sponsor of this site) has many listings as well as buyers, you might want to consider them.

Try not to buy your next timeshare directly from the developer. Timeshares are like cars, they depreciate the second you by it. Check out all the resales available before you buy. DVC seems to be the exception.

It seems that the 2042 expiration is one of your biggest concerns. My suggestion to you is if you are beyond your rescinding period, why not keep DVC for a year or two or three? At least take your next Disney trip using points. You can still sell afterwards. The great thing about DVC is that it has held it's resale value very well against other timeshares.

In fact, some DVCer's bought their points early, used it for a number of years, than sold it for close to what they paid for it if not more. The price per point started at $48? a point and has increased to $75 a point. Of course, the resale value is not guaranteed to rise but there's a good chance you won't lose much, especially, if you make use of it for a few years.

In any case, good luck to you - no matter you do. I would just hate for you to make another "mistake" by not doing your research.

 

[PamOKW]

. But I've always felt that DVC's choice of the word "deed"

It's not just DVC's choice of a word. It is a legal deed recorded by the different municipalities.

 

[dianeschlicht]

Mickey and Friends, I am sorry you felt "duped", but I wish I could get that 2099 end date you mentioned!! Of course, at that time I will be 152 years old!!! I can't believe your sales guide didn't tell you about the end date of 2042. When we first toured, that was one of the major points they made. We spent a lot of time (3 years) thinking about it before we bought in. Now I regret waiting so long, because we were going to WDW every year and spending about $5000 per trip. IF we would have purchased when we first took the tour, we would have more than paid for our membership in savings. As it is, we have reached the break even point long ago, and now our trips are basically the cost of the maintenaince fees. It's great to know that we will have the ability to take 1-3 WDW trips each year for the next 41 years with no significant additional cost. Since we are in our 50's and our "kids" are in their 20'S and 30's, they will be able to take advantage of it is as well.

We looked into other time shares before buying DVC and decided it was like comparing apples to oranges. Being on site at WDW was our main issue. There is no substitution for it! We are also taking advantage of the exchange possibility next year and are going to Hawaii in April on DVC points. We also will still have a 10 day trip to WDW next year, so we feel there is great value here.

Also, why did you sign papers without reading them?

 

[JonHM]

Mickey, you have come to the right place! We just bought in six weeks ago, and we feel really wonderful about our purchase, but the good folks here can answer *any* specific questions that you may have. One question - when you went to take the DVC tour, were you really short on time - did they rush through it for you? Because our sales guide was very deliberate and specific about things like the expiration date, the fact that it wasn't a 'deed' in the land ownership sense, that it didn't constitute Florida residency for extra discounted passes and the like. She was very upfront with us, some at our prodding but also on her own.
I would second (actually third or fourth) the suggestion that if you *have* passed the cancellation period, why don't you take at least *one* trip on points - I really think that it will change your perspective on the whole issue. I have to tell you, I don't know that I've ever been as excited about something as I am about having joined DVC - I don't feel that I was 'swindled', even in the slightest. They answered every question that I posed very honestly - we took all of the paperwork home and read over it and discussed it, then called our sales rep back within 3 days to tell her that we definitely wanted 'in'. And there was NO pressure from the sales people there to sign anything or to put up any money whatsoever before we were 100% ready.
As I said, try to make your questions or doubts about DVC as specific as possible, and post them here - you will not be disappointed with the amount of advice that you receive!

Take Care!

 

[normr]

The expiration date is really bugging you, it is indeed 2042 not 2099, I bought DVC because we go to Disney every year, when we go to Disney, we want to stay onsite not a few miles away and not have the convenience of going back to our home in the afternoon for a nap, shower and whatever to get rejuvenated to return for evening activities, plus I have the satisfaction that knowing pretty well that in 25 years or more, the resort will still look as nice as it does now.

I seriously doubt that some of these "for life & beyond" timeshares will still be as nice as thery are now.

Disney has shown that they keep their properties up like new, just look at the original hotels like the Contemporary and Poly.

I also know that my kids will get a good portion of enjoyment out our DVC too when they are adults, they'll be in their 50's by the time it expires, so even if your kids are 1 or 2 years old, they'll have the opportunity to enjoy DVC for half their lives.

 

[dianeschlicht]

Mickeyandfriends,
Just bumping this up to see what your decision was.

 

[Geubux]

Hi Mickeyandfriends,
We bought at DVC 2 years ago. I had some of the same concerns you did. We had checked out many different timeshares, the ones that are deeded forever, and ended up buying at DVC even though I didn't want to go to one place forever (or at least until 2042). I'm not smart enough to give you an economic comparison, so I'll just tell you my reasons for DVC:
1) Points, not a set week. I vacation different times each year.
2) Disney has two resorts on beaches, Hilton Head and Vero Beach, and I love the ocean.
3) If I go low demand times, I get more nights.
4) Disney is always going to be high demand. I'm guaranteed to be able to trade anywhere I want to go.
5) It's difficult, if not impossible for other resorts to get onto Disney property. You can be in Orlando, but I've found that there is some magic in staying on property, at least for us.
6) Disney has some of the best resale value of any timeshare. Just check some of the resale prices.
7) It was negative that it only goes until 2042, but what if my kids don't want the DVC? Then I would have stuck them with a monthly maintenance fee they may not have been able to afford but they're going to hold onto it for 'grandpa's sake'. If they like it, they can get one themselves.
8) What will vacations be like in 2042? I don't know. Maybe ts will be a dead issue. maybe some resorts will be seedy....hmmmm...apparently some resorts aren't waiting until 2042.
9) Again, I can get more than I bought it for already! That'
s not a bad deal.


For us DVC was right. I wouldn't sell right away without calling them back and getting clear on some issues. Feel free to PM me.