New $500 Resale DVC Transfer Fee

[Brian Noble]

maybe a split will become the norm

I'll put my Mickey Bars on Buyers Pay. Buyers traditionally pay closing costs, and this is just another of those.

 

[SL6827]

I thought florida timeshare law, total bucket of "points" couldn't increase unless more inventory was added EG Island tower, Poly Bungalos, VGF more rooms added.

Unless there was an increase in inventory then if one season/room category increased then there had to be decrease somewhere else? Isn't that correct?

But even if that was true they could inflate studios point cost and decrease bungalos without ever having real world changes because very few people booked the bungalos?

I can't remember all the exact details. Maybe someone on here with better memory of the event, well events, I think they actually tried it TWICE. There was some way, some how that it would have allowed more points to come out of thin air, no joke! More points for Disney. Maybe someone can explain exactly how that was happening. Disney knew it was not legal or they wouldn't have back down both times. What they were counting on was no one noticing or complaining or such. They were wrong.

 

[VGCgroupie]

What do we think the smallest contract size should be now when adding on considering the 500 dollar surcharge? 50? 75? 100? Is it still worth doing a 25 pt contract despite this essentially raising the price per point? Who do we think this cost will ultimately fall upon in most cases? Obviously it can be negotiated but ultimately I think it'll lean one way or another just like how closing costs usually fall on the buyer

I think it will still come back to which resort, resale ppp etc. It will still make sense for resale in some instances and still make sense for direct in some instances. Direct will make sense more often for those who play the credit card SUB game than those who do not.

 

[mkatsy]

Yes. To be blunt, I would argue that Disney lawyers are incompetent (just like their executives , just like their IT, etc, etc). In house fortune 100 lawyers are not what they used to be and just hire outside counsel to do the real work. I doubt the Disney legal team went outside in this case. It’s just too dramatic to be the work of professional outside counsel. This could be pushed back on pretty easily IMO.

The bulk of in house counsel are IP and patent attorneys. The mouse outsources litigation. The DVC train jumps the tracks when they dabble in timeshare law. They should stick to terrorizing the Etsy crowd.

 

[Moonspinner]

The bulk of in house counsel are IP and patent attorneys. The mouse outsources litigation. The DVC train jumps the tracks when they dabble in timeshare law. They should stick to terrorizing the Etsy crowd.

I’m sure they have general counsel annd that this move was “reviewed.” And their patent attorneys obviously leave a lot to be desired as well. Mickey is now open season.
To edit: I’m definitely very negative on Disney as a corporation right now. If they did not have what Walt and Eisner built, this current management team would be nothing. They are absolutely horrible. All of them.

 

[MICKIMINI]

Disney and WDW are certainly not what I saw in 1973 and in the following years and certainly not in 1996 when we bought our first OKW contract! That was a very happy occasion in 1996 and the following decade or so. I am glad that we unloaded 400 plus points when we did and ha, ha, DVC paid a PREMIUM to buy back hundreds of those points in ROFR as recently as 2023!

 

[juliebee]

What do we think the smallest contract size should be now when adding on considering the 500 dollar surcharge? 50? 75? 100? Is it still worth doing a 25 pt contract despite this essentially raising the price per point? Who do we think this cost will ultimately fall upon in most cases? Obviously it can be negotiated but ultimately I think it'll lean one way or another just like how closing costs usually fall on the buyer

I personally wouldn't be trying to cobble together enough points with multiple contracts at the same resort to meet my needs, such as having two 75-point contracts at the Poly to stay for a week. Instead I'd consider my goal and buy a single contract to meet that so each contract should get me a full week at that resort. Cobbling together contracts was already more expensive due to each having closing costs, but now it's even worse with this $500 fee.

 

[AstroBlasters]

Whoa - aren't you one of the people who fought back (and won!) on this? I feel like I'm meeting a historical figure! Thanks for all the work you did on behalf of members - even ones like me who weren't even members yet! This feels like getting to thank James Madison for the Bill of Rights!

https://www.dvcnews.com/disney-news...lidity-of-2020-dvc-points-reallocation-part-1
https://www.dvcnews.com/index.php/other-resources/feature-articles/4391-what-is-the-lock-off-premium

 

[Genie+]

They make the process sound so easy - like we can do it ourselves without a broker.

 

[mkatsy]

I’m sure they have general counsel annd that this move was “reviewed.” And their patent attorneys obviously leave a lot to be desired as well. Mickey is now open season.
To edit: I’m definitely very negative on Disney as a corporation right now. If they did not have what Walt and Eisner built, this current management team would be nothing. They are absolutely horrible. All of them.

The good news is that these weird little episodes of sneakiness that seem to keep happening are literally the Narcan for addon-itis. Dues just take the edge of for a while, deceit is the cure

 

[Sandisw]

Does anyone else wonder if this decision didn't get sparked because owners have been willing to pay an extra $250 in document fees to break up direct purchases into smaller contracts?

Maybe they realized they could add this CAF to cover all the costs of creating these new memberships from resale purchases? Assuming, of course that is what DVCMC LLC tells us it is for.

 

[VGCgroupie]

Does anyone else wonder if this decision didn't get sparked because owners have been willing to pay an extra $250 in document fees to break up direct purchases into smaller contracts?

Maybe they realized they could add this CAF to cover all the costs of creating these new memberships from resale purchases? Assuming, of course that is what DVCMC LLC tells us it is for.

I bought and split into 3 contracts. I didnt think it was an extra fee of $250 to split, I just viewed it as extra closing costs for title to process. So this doesnt feel the same to me.

 

[VGCgroupie]

View attachment 1028719
They make the process sound so easy - like we can do it ourselves without a broker.

It's actually pretty easy. The broker really is just finding you a buyer and providing a contract, title does everything else.

 

[MICKIMINI]

Does anyone else wonder if this decision didn't get sparked because owners have been willing to pay an extra $250 in document fees to break up direct purchases into smaller contracts?

Maybe they realized they could add this CAF to cover all the costs of creating these new memberships from resale purchases? Assuming, of course that is what DVCMC LLC tells us it is for.

I bought at least three "twins" in the past and none were charged an extra fee. It might even be four as I didn't even know I bought "twins" on one contract until closing. I would say the last set of "twins" was 2020 or so. Is this new and particular to a broker or several brokers?

 

[smileyanna]

I'll put my Mickey Bars on Buyers Pay. Buyers traditionally pay closing costs, and this is just another of those.

I agree with the stipulation: There’s a difference between who technically pays the fee, and who bears the burden of it. In tariffs, taxes, subsidies, fees… prices adjust. Buyers may send the check but sellers will also receive less per point.

 

[MICKIMINI]

I agree with the stipulation: There’s a difference between who technically pays the fee, and who bears the burden of it. In tariffs, taxes, subsidies, fees… prices adjust. Buyers may send the check but sellers will also receive less per point.

It is all negotiable.

 

[atthebeachclub]

I personally wouldn't be trying to cobble together enough points with multiple contracts at the same resort to meet my needs, such as having two 75-point contracts at the Poly to stay for a week. Instead I'd consider my goal and buy a single contract to meet that so each contract should get me a full week at that resort. Cobbling together contracts was already more expensive due to each having closing costs, but now it's even worse with this $500 fee.

Irony of ironies, this is almost EXACTLY what I JUST did. Split my direct buy into three parts with the idea I might add one more in the future in Florida (if Florida get their act together…long story) and then I’d be able to potentially split the exact numbers of direct points between my 2 kids long down the road IF they wanted them.

I don’t really view a timeshare as an asset to hand off through generations, but I think my kids could enjoy it at least a few decades. But with devaluation like this additional fee, I’ll probably just consider resale if I want more, and tell my kids they can alternate years and decide between themselves. They are still young so any planning for the future is a long way off.

 

[gvel]

All Disney needs to do to make us forget this is make Yacht Club DVC. I will gladly go direct on the first sales window. Heck I will even pay them $500 fee if they want.