New $500 Resale DVC Transfer Fee

[zavandor]

I don't think this is quite right. Almost no one thought it was reasonable

I might suffer from a bit of persecution complex, but I strongly remember all the headwind we had to fight on this board to try to convince people that we could fight the point charts. Some even said that increasing the lockoff premium could be advantageous because it would increase room availability. I remember also people saying: we don't have the data, only Disney does, we cannot say for sure that 1BR book much less than 2BR.
At the end (by Disney statement) only a couple dozen people complained to them, even if it was recommended to write/call.

Anyway, you're also conflating two separate events. The 2020 original charts had the lockoff premium increase and a reallocation between Poly bungalows and CCV cabins and other units. The point charts with the 7 seasons that caused an increase of points depending on when Easter fell, happened later. Not sure when, I think 2023 point charts.

ETA: to complete the history of DVC playing dirty, there was the time a DISboard user (Bing Showei) managed to force DVC to rollback the way they handle tax refunds on dues for sold contracts.

 

[tx911]

I honestly don’t think this fee would give me a moment’s hesitation if I was committed to buying into DVC and interested in resale. I guess for tiny contracts it may come into play.

I may be in the minority but this seems like a drop in the bucket, especially if it ends up split between buyer and seller. I’d be surprised if this has a very dramatic effect on resale prices. It stands to reason that there is some administrative work tied to changing contract ownership. One could argue whether it’s worth $500, but it’s been provided for free for a long time.

 

[eticketplease]

Tell me if this is a reality or a dream: I bought our contract with the ability to resale without knowledge of this fee disclosed so it means we get grandfathered in. It's a new fee for new buyers.

I would say it is a dream. I don't think not paying the fee will be grandfathered.

It's not spelled out who the fee is for but since the Contract Administration Fee would now be part of the fees of the sale so it can should be negotiable on if the buyer or seller picks up the tab on this new fee.

 

[Sandisw]

Tell me if this is a reality or a dream: I bought our contract with the ability to resale without knowledge of this fee disclosed so it means we get grandfathered in. It's a new fee for new buyers.

Unless it’s not disclosed when you actually contract to sell, then, no, it would be applicable.

However, we still do not know to who is responsible for paying this fee and when it is charged.

If it’s part of the closing costs on buyers? Will it be for sellers and encompass the estoppel fee we already pay?

Next week, if not before, we will have more answers.

All we know is that they will now charge an administrative fee to cover the process id change the owners, once a contract is sold.

Similar, I guess, to how the county charges a fee to record a new deed?