Fixed weeks on older resorts?

[MountainMouse]

Does anyone know if DVD offers fixed weeks on "sold out" resorts? In other words if they had VGF points to sell would they be able to package them in a fixed week? What about a resort that wasn't offered with fixed weeks like AKV or BLT?

 

[disneynutz]

No, fixed weeks started with Aulani, then VGF, and now PVB. To my knowledge they have to declare the fixed week offering when the legal docs for the new resort are filed and they can't package older resorts as fixed weeks

Bill

 

[supersnoop]

I'm pretty sure they could convert any reclaimed points at VGF into a fixed week.

 

[Minniesgal]

There have been a couple of fixed weeks for sale resale for VGF so you could potentially pick up the right week.

 

[wdrl]

As disneynutz says, DVD could not offer Guaranteed Week deeds for a DVC resort built prior to Aulani unless it made changes to the resort's master declaration.

Even though VGF is 'sold out', DVD sold a Guaranteed Week in July 2015 (see this article). DVD is able to sell a Guaranteed Week as long as (1) all the required points are available in a single Residential unit; (2) the number of GW deeds for that week and accommodation type does not exceed the 35% cap; and (3) the specific days for that GW deed are "immediately available" for booking. Plus, there is a fourth condition: DVD cannot sell more than 98% of a resort's total points to the general public. Right now, VGF is very close to that limit.

The first condition is somewhat limiting but every one of VGF's 36 Residential Units currently has at least 670 points, which is enough to fund even a Guaranteed Week deed two-bedroom villa. The second condition has not been reached for any accommodation type for any week, so that isn't an issue for the moment.

The third condition might be the biggest impediment to someone wanting to buy a Guaranteed Week. If someone was buying a GW deed for a week that is many months in the future, then those dates are probably still available for booking. However, if someone wanted a GW deed for the near future, such as this December, seven consecutive days aren't available to fund the entire week. And if they aren't available, DVD won't sell the GW deed.

 

[CarolMN]

.....(snip)........if someone wanted a GW deed for the near future, such as this December, seven consecutive days aren't available to fund the entire week. And if they aren't available, DVD won't sell the GW deed.

So if I wanted a fixed December week, I should wait until just after the week for 2015 passes and then try to buy it from DVD. Then I'd only have to worry about DVD having the right amount of points available in a single residential unit.

 

[wdrl]

So if I wanted a fixed December week, I should wait until just after the week for 2015 passes and then try to buy it from DVD. Then I'd only have to worry about DVD having the right amount of points available in a single residential unit.

Yes, I think that is so.

 

[ziravan]

So if I wanted a fixed December week, I should wait until just after the week for 2015 passes and then try to buy it from DVD. Then I'd only have to worry about DVD having the right amount of points available in a single residential unit.

Except that if you aren't already on the waiting list for VGF, you aren't going to be buying from DVD. If you are on the list, you're going to be buying on their timeline, not yours.

 

[ziravan]

As disneynutz says, DVD could not offer Guaranteed Week deeds for a DVC resort built prior to Aulani unless it made changes to the resort's master declaration.

Even though VGF is 'sold out', DVD sold a Guaranteed Week in July 2015 (see this article). DVD is able to sell a Guaranteed Week as long as (1) all the required points are available in a single Residential unit; (2) the number of GW deeds for that week and accommodation type does not exceed the 35% cap; and (3) the specific days for that GW deed are "immediately available" for booking. Plus, there is a fourth condition: DVD cannot sell more than 98% of a resort's total points to the general public. Right now, VGF is very close to that limit.

The first condition is somewhat limiting but every one of VGF's 36 Residential Units currently has at least 670 points, which is enough to fund even a Guaranteed Week deed two-bedroom villa. The second condition has not been reached for any accommodation type for any week, so that isn't an issue for the moment.

The third condition might be the biggest impediment to someone wanting to buy a Guaranteed Week. If someone was buying a GW deed for a week that is many months in the future, then those dates are probably still available for booking. However, if someone wanted a GW deed for the near future, such as this December, seven consecutive days aren't available to fund the entire week. And if they aren't available, DVD won't sell the GW deed.

When I bought a fixed week at Poly that came with 2014 points, they obviously weren't attached to the 2014 fixed week that was already passed.

It seems to me that it's not a difficult task for DVD to sell a fixed week with the points for the first year already opted out and converted to points because there wasn't a fixed week available.

That is essentially what they did on selling me Poly with the first year's points (2014) already converted to points.

 

[ziravan]

My deed says, "THE OWNERSHIP INTEREST INCLUDES THE FOLLOWING FIXED USE RIGHT: Beginning January 1, 2015 (the 'First fixed Use Date'), the right (the Fixed Use Right) to have a STUDIO LAKE view vacation HOME type automatically reserved for use during week #44 (the 'Owner's Fixed Use Period') using all of the HOME resort vacation points allotted for the applicable use year.

The use year For this unit begins on the first day of June, 2014."

So, contract begins for 2014, and first Fixed week was set for 2015. My contract came with 168 points in account for 2014, and my 2015 fixed week booked.

There's really no difference to doing that for fixed weeks going forward and the contract language is already set up to make that distinction between start of contract and start of fixed weeks.

For example, if you bought a VGF Dec fixed week today, it could list the first right to use is Dec 2016 and come with first use year (2015) points avail.

 

[wdrl]

My deed says, "THE OWNERSHIP INTEREST INCLUDES THE FOLLOWING FIXED USE RIGHT: Beginning January 1, 2015 (the 'First fixed Use Date'), the right (the Fixed Use Right) to have a STUDIO LAKE view vacation HOME type automatically reserved for use during week #44 (the 'Owner's Fixed Use Period') using all of the HOME resort vacation points allotted for the applicable use year.

The use year For this unit begins on the first day of June, 2014."

So, contract begins for 2014, and first Fixed week was set for 2015. My contract came with 168 points in account for 2014, and my 2015 fixed week booked.

There's really no difference to doing that for fixed weeks going forward and the contract language is already set up to make that distinction between start of contract and start of fixed weeks.

For example, if you bought a VGF Dec fixed week today, it could list the first right to use is Dec 2016 and come with first use year (2015) points avail.

When did you buy your deed? Was it in 2014 and before the start of week #44?

 

[Dean]

When I bought a fixed week at Poly that came with 2014 points, they obviously weren't attached to the 2014 fixed week that was already passed.

It seems to me that it's not a difficult task for DVD to sell a fixed week with the points for the first year already opted out and converted to points because there wasn't a fixed week available.

That is essentially what they did on selling me Poly with the first year's points (2014) already converted to points.

I once bought a full week from Marriott directly (special situation, great deal). It was a garden view but as the resort was being built, the usage was in ocean view for the first 2-3 years. There are easy ways to handle this situation contractually.

 

[ziravan]

When did you buy your deed? Was it in 2014 and before the start of week #44?

No. March, 2015. Poly wasn't yet on sale for Nov 1, 2014, which about where week 44 falls.

 

[wdrl]

No. March, 2015. Poly wasn't yet on sale for Nov 1, 2014, which about where week 44 falls.

I understand the point you are making and you are right that DVD could state on the deed that the Guaranteed Week could not be exercised until some future calendar year.

However, DVD has yet to sell a GW deed in which the buyer cannot exercise their GW for the current calendar year, not including those cases where the resort is not yet open. Even with traditional point sales DVD almost never sells a deed where points to not become available until a future month. The only exception is when DVD sell points for a new DVC resort that has yet to open. For example, someone who bought BLT in November 2008 and wanted a December Use Year did not get points until December 2009.

Every GW deed I have seen for both VGF and PVB has permitted the owner to book his or her GW villa the very next time the week occurred. Now, its possible that DVD and the owner made an arrangement at the time the deed was sold that the owner would opt out of the guaranteed week and convert to traditional points. But if that was agreed upon at the time of the sale, that provision was not included in the original deed that was filed with OCC.

 

[ziravan]

If I were on the waiting list for VGF, and were asking for points in the 200 point range, and if I were interested in studios in Dec, I'd certainly try to talk them into a fixed week.

It'd be worth making a deal on the first year.

I don't think the contract language would have to change and I don't think they'd need an addendum.

They could just do like my contract and represent the first UY as one year, and the first right to fixed use as the next.