New $500 Resale DVC Transfer Fee

[Sandisw]

I don't agree with this statement.

They either have a fiduciary duty toward the members, in which case, if they are allowed to charge a fee, it should be only to cover expenses.
Or they don't, in which case if the law doesn't prohibit it, they can charge whatever they want (even 10K).

But one cannot claim they are acting in the interest of the membership when they stand to gain a couple of millions per year doing this (assuming 500K is more than enough to hire a few CM to handle the transfers)

Except they have a responsibility as the managing entity for DVD as well to ensure that the sales and transfer process is efficient for new owners.

If charging the fee is what is required to accomplish it, then IMO, they should be doing it.

It’s been a big frustration for new buyers to have it take a long time to get access to their points.

Now, with a fee, there is no excuse for it to take that long because DVCMC has new revenue to ensure the process is quick and efficient.

If the charging of the fee is legal, and it is going to benefit the program by reducing the times it takes for a resale transaction so buyers get access sooner, then I feel it is a move that benefits the program as a whole.

Charging $10k isn’t the same thing as $500 and you know that.

 

[Carouselofplanning]

Except they have a responsibility as the managing entity to DVD as well to ensure that the sales and transfer process is efficient.

And, if charging the fee does that, then they have an obligation to do it.

It’s been a big frustration for new buyers to have it take a long time to get access to their points.

Now, with a fee, there is no excuse for it to take that long because DVCMC has new revenue to ensure the process is quick and efficient.

If the charging of the fee is legal, and it is going to benefit the program by reducing the times it takes for a resale transaction so buyers get access sooner, then I feel it is a move that benefits the program as a whole.

Charging $10k isn’t the same thing as $500 and you know that.

The issue is charging $500 instead of something closer to what it actually costs even with a modest margin built in.
This price is closer to charging for a corporate law firm associate to process the transaction.

 

[Sandisw]

The issue is charging $500 instead of something closer to what it actually costs even with a modest margin built in.
This price is closer to charging for a corporate law firm associate to process the transaction.

Oh, I get people have an issue with the amount of the fee and I think it’s valid for an owner to ask them as to explain why the fee amount was chosen.

What we don’t know is if this will now include estoppel…if it does, then it’s an increase of $350 and not $500. Once we get more details, we will know.

From what others have posted, other timeshares charge $300 to $400? So, $500 isn’t that far off..

As I just posted, now that there will be a CAF, then there will be no excuse for them not to get things processed extremely quickly.

Owners should no longer have to wait a month to get use of their membership.

 

[walt34]

From what others have posted, other timeshares charge $300 to $400? So, $500 isn’t that far off..

do we have someone here who can verify that those fees aren’t already named in other timeshare contracts?

 

[Sandisw]

do we have someone here who can verify that those fees aren’t already named in other timeshare contracts?

From the reading of FL 721, the timeshare statute, this type of fee needs to be part of the sales contract and disclosed then.

That’s why I do t think they will be able charge it to anyone who entered a contract already without it.

But, there are people who own other timeshares who should be able to tell you that.

 

[RivShore]

Can we just keep this thread going... its entertaining my pre-caffeinated brain this morning.

Disboards must love the traffic stuff like this drives. 24 pages in the blink of an eye...lol

Have you not been able to get any more info from your contacts? You would think a title company would need details yesterday!