Are you just putting the resort and date range to do a search? I wasn’t supposed to buy anymore points but used the ROFR quickly last night for reference. I did assume DVC wasn’t buying anything back and now I’m concerned about my price per point.
Yes
Just sad. Means they were underwater, as many RIV buyers could be, especially with financing. Or just uninformed or sloppy.
Unfortunately that seems to be a recurring thought. I think restrictions are the root, but maybe the original DVC Idea just isn’t profitable enough, so they have to pivot to a normal timeshare type of plan?
It feels very “I spent money I didn’t have-y”.
We’re talking about foreclosures. That has nothing to do with how DVC operates, and everything to do with people not paying for something they purchase, either due to unforeseen financial hardships, or simply buying something they shouldn’t have in the first place.
Of course it does. The intention of the resale restrictions is to corrode resale value. This is the intended outcome. But, hey, the Mouse gets to repackage the points. Yay?
I dont think they want more RIV points really, got plenty they are still trying to sell. But obviously they are going to get them back if people are not paying their dues and/or financing note or both.
It’s a foreclosure. In a depressed market, ANY depressed market, you hold onto the asset until you’re no longer upside down. If you can’t afford to ride it out, you’re still guilty of financing something you couldn’t afford to pay for. We’re not talking about variable interest rate mortgages here.
I am less frustrated by sellers as everyone has a different reason for selling and as such I am fine with any rejecting an offer for whatever reason they want. I am much more frustrated with brokers manipulation of the process, either by reluctance to present offers or attempts to push up my offers.
I mean, by definition you can't be underwater on something with no loan. If you pay cash, that's just old fashioned losing money because now your asset is worth less, and you wouldn't let them foreclose. You'd take what you can get.
Maybe I’m not being clear enough. It doesn’t matter what the resale value is. You finance something, you pay it off. If you run into financial hardship, that is one thing and may be unavoidable, but anyone who “lets them foreclose” because they can’t get what they want in resale (but can still make their contractually agreed-upon payments) is just pathetic.
Right, but this thread was about foreclosures. If you're a cash buyer, you wouldn't let them foreclose, you'd take what you can get, even if it's a lot less than you paid.
And that is the exact reason why no one should go into any timeshare purpose, including DVC, needing or expecting resale value to be there,
As I said, there can be unavoidable financial hardships. If someone purchases a product that they can still afford, but find themselves upside down, then you continue to pay until 1. The market improves, or 2. You gain back equity. To simply allow foreclosure because you don’t want the product anymore and can’t sell it is ridiculous.
