New $500 Resale DVC Transfer Fee

[MICKIMINI]

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.

Our son and DIL are on our direct contract. We did not add them to the resales as it is a toss up if 2042 expires before we do LOL!

 

[Genie+]

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.

Yes I think this decision intends to address multiple things, including disincentivizing this practice and at least getting a piece of that pie for what now remains.

 

[juliebee]

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.

I would likely do the same on a direct purchase. My comment was pertaining to resale purchases. I've seen plenty of people in other threads say they have purchased a few smaller resale contracts like 50-100 points each to get them to their goal of staying a week. And I just think the overall costs don't make sense on that. Typically higher prices on lower point contracts, plus closing costs on each resale contract, and now this extra fee on each contract. Nope... just buy a single contract in that 150-250 point range as a resale purchaser.

 

[Stank]

Which Disney attorney would that be the genius that cooked up the Disney + arbitration idea? Or would it be the rockstar that committed Discovery abuse (plaintiff requested sanctions) by introducing new evidence during a deposition - They just push the envelope until someone pushes back, it doesn’t make them right.

Exactly. People always argue this that companies can’t be sued because their contract lawyers are too smart.

Not bragging at all, but I caught a provision in a contract that both my company and the other company’s lawyers didn’t catch. It resulted in a multi-million dollar settlement. All because I didn’t take the “the lawyers already looked at it” mindset and spent a night shift looking at the contract myself. And I have zero hours of law school. It’s called the English language. A lot of people can read it. And lawyers are just people making their argument. The way you win cases is by making a better one.

Lawyers screw stuff up all the time. There’s a constant conveyer belt of lawsuits for breach of contract with many successful.

 

[Sandisw]

Exactly. People always argue this that companies can’t be sued because their contract lawyers are too smart.

Not bragging at all, but I caught a provision in a contract that both my company and the other company’s lawyers didn’t catch. It resulted in a multi-million dollar settlement. All because I didn’t take the “the lawyers already looked at it” mindset and spent a night shift looking at the contract myself. And I have zero hours of law school. It’s called the English language. A lot of people can read it. And lawyers are just people making their argument. The way you win cases is by making a better one.

Lawyers screw stuff up all the time. There’s a constant conveyer belt of lawsuits for breach of contract with many successful.

Of course these things can happen but in most cases with DVC since I have been an owner that have involved concerns, they at least had what they believe was a plausible way to interpret the contract and law.

In some cases, they reversed course because they obviously felt the ground was a bit shaky and other times that have not.

In this case, all we know is they are now instituting a CAF for resale transactions.

Not al actions require the same level of legal scrutiny either.

Given that it sounds like this is standard with other timeshare companies, my guess is this is going to turn out to be simply an addition to closing costs.

Good thing we do not have to wait too long to get details.

 

[eticketplease]

I would likely do the same on a direct purchase. My comment was pertaining to resale purchases. I've seen plenty of people in other threads say they have purchased a few smaller resale contracts like 50-100 points each to get them to their goal of staying a week. And I just think the overall costs don't make sense on that. Typically higher prices on lower point contracts, plus closing costs on each resale contract, and now this extra fee on each contract. Nope... just buy a single contract in that 150-250 point range as a resale purchaser.

I agree the costs don’t usually make sense but it helps get some families into the door and is a lot easier to pay cash or pay off a loan faster for 50 points even if it is more $ per point.
Once that family has a taste of DVC and doesn’t want to keep banking and borrowing they will look for another contract.