DVC Status Question from Broker

[Pluto1976]

Looking into making an offer on a resale contract and noticed on the dvcresalemarket website there is a question regarding the buyer's DVC status:

1. Non-owner
2. DVC owner with a different use year
3. DVC owner with the same use year

Anyone know why they would pose this question when making an offer? Without going into conspiracy theories, I am most interested in answer #3.

 

[MICKIMINI]

1. DVC will need to generate a membership
2. DVC needs to determine which UY the contract goes into
3. DVC adds the contract to the owners membership

I have three memberships and two UY's...totally legit question!

 

[DaveNan]

If you are a current owner, they want to make sure the title shows the ownership identically to your previous contracts. They can look on the OCC site to confirm. Additionally in the paperwork to Disney, if the title is the same, and the UY is the same, they will be under the same membership. Getting this right with all the paperwork to Disney, will avoid issues after close, if it is not processed properly by Disney Member Administration.

 

[RoseGold]

If it's a different UY, you'll get another member number, even if titled the same. I have several contracts, 2 UYs, and two membership numbers.

 

[Pluto1976]

Ahhhhh okay, that all makes sense. Thanks for the feedback!

 

[Louis morrell]

I agree with the original question. Why do they need this information just for an offer? I can see needing it after the offer is accepted but before??? It should have no bearing on the offer/negotiation process.

 

[macman123]

If it's a different UY, you'll get another member number, even if titled the same. I have several contracts, 2 UYs, and two membership numbers.

Is that a pain? I have 18 contracts with the same UY

 

[DaveNan]

Is that a pain? I have 18 contracts with the same UY

For me it is not too bad. I have ownership at 3 different resorts with different UY. SSR for sleep around points (3 contracts all the same UY). 2 contracts same UY (but different than SSR) at BWV, I use exclusively at 11 months for STD or BW view. And a contract (3rd UY) at AKV. I also use it exclusively at AKV usually at >7 months. So I really don't want/need to mix the points for the same stays.

 

[Sandisw]

I agree with the original question. Why do they need this information just for an offer? I can see needing it after the offer is accepted but before??? It should have no bearing on the offer/negotiation process.

It doesn’t but they include that information in the paperwork when the offer is accepted so it’s just one piece gathered.

 

[Louis morrell]

It doesn’t but they include that information in the paperwork when the offer is accepted so it’s just one piece gathered.

That is information that could affect the negotiation process.The seller/broker does not need to know anything about my holdings. I think I would decline to answer until a deal was struck.

 

[Sandisw]

That is information that could affect the negotiation process.The seller/broker does not need to know anything about my holdings. I think I would decline to answer until a deal was struck.

Curious how it would impact it?

 

[jbreen2010]

I’m not a realtor or broker but I wonder when negotiating if you would think to yourself “oh this contract aligns with this persons use year that they want so maybe they will pay a premium?”.

it could also just be for their basic understanding of how much information you might need about the new contract.

 

[Pluto1976]

Curious how it would impact it?

I’m not a realtor or broker but I wonder when negotiating if you would think to yourself “oh this contract aligns with this persons use year that they want so maybe they will pay a premium?”.

This is what I was thinking when I mentioned my "conspiracy theory" about getting this information beforehand. If a contract is my same UY then it is probably more valuable to me as opposed to a contract which does not have my current UY. I already have my apprehensions with a single realtor representing both the buyer and the seller simultaneously in the transaction and where their loyalties will lye but that is another conversation. The answer to the UY question seems to provide additional leverage to the seller if it is disclosed to them (i.e the seller can demand a higher price b/c the UYs match up and that is generally considerable favorable).

Note, I am not saying this is happening. I suppose all of this can be avoided by the buyer if they just stick to the amount they want to pay in the first place.

 

[Sandisw]

This is what I was thinking when I mentioned my "conspiracy theory" about getting this information beforehand. If a contract is my same UY then it is probably more valuable to me as opposed to a contract which does not have my current UY. I already have my apprehensions with a single realtor representing both the buyer and the seller simultaneously in the transaction and where their loyalties will lye but that is another conversation. The answer to the UY question seems to provide additional leverage to the seller if it is disclosed to them (i.e the seller can demand a higher price b/c the UYs match up and that is generally considerable favorable).

Note, I am not saying this is happening. I suppose all of this can be avoided by the buyer if they just stick to the amount they want to pay in the first place.

I have sold with this company and that information was not included in the offer I received as a seller.

I had no idea whether my buyers were current owners or not when deciding on it. All I was told was the offer amount. Nothing more.

 

[JETSDAD]

I just accepted an offer on a contract....also had no idea what the UY of the buyer was, nor did I care. I think people are just reading into it way too much. With just your name they could also find the same information.

 

[LadybugsMum]

I put in an offer through the former sponsor and they also asked about membership and UY. They used to look up my other contract to make sure everything got titled the same way so that if it passed ROFR then there would be no issues. Also, because I already had a contract there was a form I didn't need to fill out as I am already a DVC member (the vesting document). Sadly, Disney took that contract.

 

[RoseGold]

I had no idea whether my buyers were current owners or not when deciding on it. All I was told was the offer amount. Nothing more

They didn't even tell you if it was a cash offer?

 

[Sandisw]

They didn't even tell you if it was a cash offer?

Never had any broker tell me those things when selling (used 4 different ones so far). They simply said we have a buyer who wants to pay X, with additional info on MF's and closing costs.

A few of what I sold were full price offers so they just said "Congrats, its sold...here is the paperwork to sign so we can send to ROFR'. And to be honest, except for one buyer recently who I knew was financing, no clue how buyers paid for the approximately 8 other contracts I have sold over the years.

 

[DonMacGregor]

I just accepted an offer on a contract....also had no idea what the UY of the buyer was, nor did I care. I think people are just reading into it way too much. With just your name they could also find the same information.

This right here. Your name and 2 minutes on the comptroller's site gets them all of that info, and surreptitiously to boot. Makes zero sense to ask for it voluntarily if your plan is to use it in nefarious ways.

 

[DonMacGregor]

That is information that could affect the negotiation process.The seller/broker does not need to know anything about my holdings. I think I would decline to answer until a deal was struck.

Except that is all in public records, free for the taking by anyone.