Help I don't recall

[ice cube]

I'm in the running with a few other interested parties on a 50pt contract. Its in bankruptcy court and have been doing my homework. I have copies of the original mortgage, deed and satisfaction. There is no lien on the contract other than the past due maintenance fees which have been listed. My question is as I don't remember does DVC have or had small point contracts with no "Home Resort" listed as parts of the Deed state the following:

An undivided 0.0274% interested in Unit 23 of the Disney Vacation Club at Walt Disney World Resort.

The use year for this unit begins on the first day of February 2018

Confused about this 50 point contract....any ideas????..... will make a call to DVC tomorrow to get some answers but wanted to know if anyone came across this before...

 

[CarolynFH]

"The Disney Vacation Club at WDW" is the official, legal name of Old Key West. When Disney started adding new DVC resorts (HHI, VB, BWV) they started calling it Old Key West but didn't go through whatever legal process would have been required (wasn't worth it, I'm sure) to change the legal name of the property. So the next question you need to answer is whether this is an extended contract with expiration of 2057 or an original contract that expires in 2042.

 

[ice cube]

"The Disney Vacation Club at WDW" is the official, legal name of Old Key West. When Disney started adding new DVC resorts (HHI, VB, BWV) they started calling it Old Key West but didn't go through whatever legal process would have been required (wasn't worth it, I'm sure) to change the legal name of the property. So the next question you need to answer is whether this is an extended contract with expiration of 2057 or an original contract that expires in 2042.

Thanks for the information. Hopefully I can get someone on the phone tomorrow who can give me an answer on the expiration date.

 

[CarolynFH]

Thanks for the information. Hopefully I can get someone on the phone tomorrow who can give me an answer on the expiration date.

It might be in the deed, but I haven't looked at ours in so many years that I forgot where it is.

 

[rubybutt]

I'm in the running with a few other interested parties on a 50pt contract. Its in bankruptcy court and have been doing my homework. I have copies of the original mortgage, deed and satisfaction. There is no lien on the contract other than the past due maintenance fees which have been listed. My question is as I don't remember does DVC have or had small point contracts with no "Home Resort" listed as parts of the Deed state the following:

An undivided 0.0274% interested in Unit 23 of the Disney Vacation Club at Walt Disney World Resort.

The use year for this unit begins on the first day of February 2018

Confused about this 50 point contract....any ideas????..... will make a call to DVC tomorrow to get some answers but wanted to know if anyone came across this before...

You must be in the running for the one that ends in about 2 days. I was looking at the seller. They have a few things like this and this is their second DVC contract. I couldn't satisfy myself that it wasn't a pain in the ***. Plus they sell for just under retail it seems. Where were you able to find more info about it?

 

[JETSDAD]

Thanks for the information. Hopefully I can get someone on the phone tomorrow who can give me an answer on the expiration date.

What year did they purchase the contract?

 

[KAT4DISNEY]

There was no other document on the Orange Cty website showing a quit claim deed or something else from DVC? If there is a quit claim deed then it's a 2042 but even if it's not there it doesn't necessarily mean it was extended. I thought DVC was working on getting all the filings properly updated though.

 

[KAT4DISNEY]

What year did they purchase the contract?

Good point. Might have been purchased from DVC after the extension.

 

[JETSDAD]

There was no other document on the Orange Cty website showing a quit claim deed or something else from DVC? If there is a quit claim deed then it's a 2042 but even if it's not there it doesn't necessarily mean it was extended. I thought DVC was working on getting all the filings properly updated though.

A lot (all?) of the contracts that got extended had new deeds registered in 2019. Otherwise I just go by the purchase date of the contract. If it was purchased after the extension was completed (I want to say fall of 2007) then it should be 2057.

 

[CarolynFH]

The use year for this unit begins on the first day of February 2018

@JETSDAD, would this suggest a direct purchase after the extension was completed?

 

[JETSDAD]

@JETSDAD, would this suggest a direct purchase after the extension was completed?

Yes it would (I missed that part lol).

 

[ice cube]

What year did they purchase the contract?

Sorry Halloween got in the way.....They purchased it in Aug 2018 and satisfied the mortgage July 2019.

 

[ice cube]

There was no other document on the Orange Cty website showing a quit claim deed or something else from DVC? If there is a quit claim deed then it's a 2042 but even if it's not there it doesn't necessarily mean it was extended. I thought DVC was working on getting all the filings properly updated though.

The docs on file are the deed, mortgage, satisfaction looks like from disney and notice of bankruptcy. No quit claim deed but will be calling this morning to find out

 

[ice cube]

You must be in the running for the one that ends in about 2 days. I was looking at the seller. They have a few things like this and this is their second DVC contract. I couldn't satisfy myself that it wasn't a pain in the ***. Plus they sell for just under retail it seems. Where were you able to find more info about it?

I'm only willing to go to a certain dollar amount so if it goes a little bit higher the family wants me to get less for more. Meaning I will be in the range of less points for the same money at the Poly. Go figure with a house full of woman

 

[JETSDAD]

Sorry Halloween got in the way.....They purchased it in Aug 2018 and satisfied the mortgage July 2019.

If they purchased direct in 2018 then it's an extended contract.

 

[RoseGold]

I love seeing the final math on these. I think the last one saved like $400 off normal resale for all this hassle.

 

[ice cube]

I love seeing the final math on these. I think the last one saved like $400 off normal resale for all this hassle.

Here are the numbers... final price was 5216.88 ($104.34pp)...doc fee of $325...past dues $259 and last it states fee to transfer with Disney $50... I think the person who won got a good price considering the cheapest small OKW contract I have seen is at $135pp..

 

[countrypilot]

How do you find these sales? Is there a link to share?

 

[ice cube]

How do you find these sales? Is there a link to share?

A few years ago I was bidding on a vehicle that was part of a bankruptcy. I check every now and again to see what they have for sale. The companies site is ********.com sorry didn't realize it would blank out the website name. If your interested start a private conversation.

 

[Sandisw]

A few years ago I was bidding on a vehicle that was part of a bankruptcy. I check every now and again to see what they have for sale. The companies site is ********.com sorry didn't realize it would blank out the website name. If your interested start a private conversation.

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