DVC eliminates perks for resale

[lockedoutlogic]

I doubt they will tie it off, this way they can sell those Poly points no one wants 25 points at a time

Call me skeptical...but I don't think that approach is gonna catch on like wildfire

 

[Tdisney]

I joined this discussion when disney first took the Perks of being able to use them for cruises and disney collections. I still dont know how they get away with it legally. I know most said these were "Perks" and disney can take away "Perks" whenever they want. We were in a similar situation when we purchased a condo on the beach. It came with a parking space, storage closet and access to a gym and spa. Well the developer did not sell out and people started to try and resell their condo during the real estate market crash. Well the developer said unless you buy directly from him that you would not have access to covered parking, storage, etc. Well other developers followed suit. A class action lawsuit was brought arguing that it is essentially devaluing the individuals property. He tried to call it perks but it did not work. I see no difference in what disney has done. It took 4 years but the developers lost the case. They could not distinguish individuals condos from the developers based on where the purchase is from. The covered parking and access to the spa was not a perk but was considered an equal share to all owners. FWIW. Now disney can say there are no more "Perks" for all DVC members.

 

[lockedoutlogic]

I joined this discussion when disney first took the Perks of being able to use them for cruises and disney collections. I still dont know how they get away with it legally. I know most said these were "Perks" and disney can take away "Perks" whenever they want. We were in a similar situation when we purchased a condo on the beach. It came with a parking space, storage closet and access to a gym and spa. Well the developer did not sell out and people started to try and resell their condo during the real estate market crash. Well the developer said unless you buy directly from him that you would not have access to covered parking, storage, etc. Well other developers followed suit. A class action lawsuit was brought arguing that it is essentially devaluing the individuals property. He tried to call it perks but it did not work. I see no difference in what disney has done. It took 4 years but the developers lost the case. They could not distinguish individuals condos from the developers based on where the purchase is from. The covered parking and access to the spa was not a perk but was considered an equal share to all owners. FWIW. Now disney can say there are no more "Perks" for all DVC members.

Well...it's oversimplification...
But remember that Florida laws are and always have been "prodeveloper" and "pro disney"...
If you give them a Buck...you do what you want

If you want reasons...start there.

 

[Eoghann]

I joined this discussion when disney first took the Perks of being able to use them for cruises and disney collections. I still dont know how they get away with it legally. I know most said these were "Perks" and disney can take away "Perks" whenever they want. We were in a similar situation when we purchased a condo on the beach. It came with a parking space, storage closet and access to a gym and spa. Well the developer did not sell out and people started to try and resell their condo during the real estate market crash. Well the developer said unless you buy directly from him that you would not have access to covered parking, storage, etc. Well other developers followed suit. A class action lawsuit was brought arguing that it is essentially devaluing the individuals property. He tried to call it perks but it did not work. I see no difference in what disney has done. It took 4 years but the developers lost the case. They could not distinguish individuals condos from the developers based on where the purchase is from. The covered parking and access to the spa was not a perk but was considered an equal share to all owners. FWIW. Now disney can say there are no more "Perks" for all DVC members.

You don't buy the property with DVC though, you buy "access to the property". It's like ebooks, you're buying a license and that license can be changed.

Though to be fair, they aren't changing the rules after the fact. People who have already purchased are grandfathered in.

 

[yitbos96bb]

I can honestly see it possibly hurting first sales too. I mean, it's one thing to buy DVC when you have that "safety" of knowing that they have a good resale. But if this elimination of perks drops the resale value (which it's bound to)... I can see less people being willing to take the chance on buying DVC. But, I could be wrong.

Maybe the resale marketing would be as big as it is if they hadn't jacked the prices up as high as they are. I mean they've doubled in price over the last 11 years.

 

[Spacedog1975]

If you hadn't gotten around to it by now...I don't think you were gonna

On a side note...what happened to that clown that used to go on every DVC thread and put "haha...I do much better with my free dining than any of you DVC fools ever could!!!"

I miss him

You got me. I totally was never going to do it.
But.... I am going to look into renting points and other methods to cut my costs.

 

[lockedoutlogic]

Maybe the resale marketing would be as big as it is if they hadn't jacked the prices up as high as they are. I mean they've doubled in price over the last 11 years.

Yes yes.

Two things cause the resale market:

1. Spending beyond means/credit craziness

2. Increases in the price far beyond reasonable increases in prices.

There were a few years of multiple increase totaling $5-$15 dollars per point a year...

That results in a net several THOUSANDS of dollars for the same product in what is economically a blink of the eye.

That screws up your market...which is so dangerous on a longterm purchase such as this. It isn't a car - it's Way bigger of a deal/longterm commitment.

The only other product I can think that has increased with that kind of recklessness is college. And that is 2 trillion of debt that's gonna collapse on itself. So not a "role model" to follow.

 

[beer dave]

If you hadn't gotten around to it by now...I don't think you were gonna

On a side note...what happened to that clown that used to go on every DVC thread and put "haha...I do much better with my free dining than any of you DVC fools ever could!!!"

I miss him

Turn out the lights and spin around three times while saying his name and he will appear.....

 

[beer dave]

Am I the only one who is thinking--- Since I already am a DVC member, and will continue to have said perks, maybe in the next few years the resale will go low enough to where it becomes quite attractive to add on..... I'm thinking that when (or if) I retire, I could seasonally rent my home to some snow birds and spend the three winter months at Disney.....

 

[Eoghann]

Am I the only one who is thinking--- Since I already am a DVC member, and will continue to have said perks, maybe in the next few years the resale will go low enough to where it becomes quite attractive to add on..... I'm thinking that when (or if) I retire, I could seasonally rent my home to some snow birds and spend the three winter months at Disney.....

Of course you won't be able to afford to go into the parks by that point. But you'll be able to see them from the distance.

 

[beer dave]

Of course you won't be able to afford to go into the parks by that point. But you'll be able to see them from the distance.

Haha--Yeah--but by then I might not want to----however I'm still holding tight to my FL resident pass-------- Hoping that won't be next...

 

[yitbos96bb]

That's definitely the biggest perk on the table. Current owners are grandfathered though so I guess so long as you keep the minimum number of points you're good.

I'll be curious to see if there's an immediate impact on resale prices. Someone was just patting themselves on the back about what their investment was worth too...

I'd like to know this:

If I'm already an owner and bought resale, do they strip me of all my perks I get as a current owner?

In other words, why couldn't I buy resale NOW and just use my initial purchase for the discounts. Anyone seen the fine print?

 

[yitbos96bb]

I joined this discussion when disney first took the Perks of being able to use them for cruises and disney collections. I still dont know how they get away with it legally. I know most said these were "Perks" and disney can take away "Perks" whenever they want. We were in a similar situation when we purchased a condo on the beach. It came with a parking space, storage closet and access to a gym and spa. Well the developer did not sell out and people started to try and resell their condo during the real estate market crash. Well the developer said unless you buy directly from him that you would not have access to covered parking, storage, etc. Well other developers followed suit. A class action lawsuit was brought arguing that it is essentially devaluing the individuals property. He tried to call it perks but it did not work. I see no difference in what disney has done. It took 4 years but the developers lost the case. They could not distinguish individuals condos from the developers based on where the purchase is from. The covered parking and access to the spa was not a perk but was considered an equal share to all owners. FWIW. Now disney can say there are no more "Perks" for all DVC members.

Guessing it is in the contracts they have the right to do so. I remember our guide saying perks can go anytime.

 

[cel_disney]

I'd like to know this:

If I'm already an owner and bought resale, do they strip me of all my perks I get as a current owner?

In other words, why couldn't I buy resale NOW and just use my initial purchase for the discounts. Anyone seen the fine print?

It says it applies to future resale contracts - so I would assume your current points are not impacted?

 

[MommaBerd]

@yitbos96bb - You are grandfathered in.

 

[DebbieB]

Newest part of this - yesterday resale agents were told any contracts submitted for ROFR before yesterday were grandfathered. Now late today, they went back on that and said the contract has to be closed before yesterday. Very unfair to those who signed a contract thinking they would be members with perks and now they are not. Not even getting a member card.

 

[lockedoutlogic]

At some point...somebody with a level head will have this epiphany:

"Wait...if the point of this thing is to gets people to commit and keep coming back to buy OTHER stuff...why are we making it harder to do that?"

It's just that simple. Currently...this is the statement they're acting on:"people want their DVC fix so bad that they'll pay whatever we want for it. So only give them one option. It doesn't matter if it's $22,500 or $52,500..."

Like a street drug. The problem is you can't depend on junkies.

 

[cel_disney]

Newest part of this - yesterday resale agents were told any contracts submitted for ROFR before yesterday were grandfathered. Now late today, they went back on that and said the contract has to be closed before yesterday. Very unfair to those who signed a contract thinking they would be members with perks and now they are not. Not even getting a member card.

That's terrible!! I'm disappointed in my Disney Icon today...not cool...

 

[Ohana2011]

You don't buy the property with DVC though, you buy "access to the property". It's like ebooks, you're buying a license and that license can be changed.

Though to be fair, they aren't changing the rules after the fact. People who have already purchased are grandfathered in.

I am in contract along with many others. Despite the fact that the contract was signed and presented to Disney before this announcement, realtors are advising those of us in contract limbo that we are not grandfathered in. We are plain old out of luck. We put in our bids on the premise we would recieve these benefits, now that most of us are contractually bound to the sale - we're done...

 

[KYMickey]

I am in contract along with many others. Despite the fact that the contract was signed and presented to Disney before this announcement, realtors are advising those of us in contract limbo that we are not grandfathered in. We are plain old out of luck. We put in our bids on the premise we would recieve these benefits, now that most of us are contractually bound to the sale - we're done...

I would think anyone in that situation should talk to your real estate lawyer! A good lawyer should be able to get you out of the contract because you are not receiving what you believe you were when you placed the contract.