New Restrictions Announced on Resales: Effective Jan 19

Matty B13

DIS Veteran
Joined
Jun 13, 2016
Because probably with 90% of people, what happens if they resell it, will be lost on them when they impulse buy and sign a bundle of documents without reading them.
I've picked up my 3 resale contracts from people who sold their contracts in under 3 years, 2 of them in under 2 years. All of them bought direct and managed to walk away about even, at most I think one family lost $5000 at most. So yeah, people are going to lose their shirts on Riviera if not just walk away from the contracts.
 

Wakey

DIS Veteran
Joined
Dec 22, 2015
I've picked up my 3 resale contracts from people who sold their contracts in under 3 years, 2 of them in under 2 years. All of them bought direct and managed to walk away about even, at most I think one family lost $5000 at most. So yeah, people are going to lose their shirts on Riviera if not just walk away from the contracts.
My latest one, they bought in 2017 (with a mortgage/ loan on a 100 pointer, suspect they were in financial difficulty, or divorce) and just sold to me- only kept for a year and a half resale. They made money, around $3k after fees but I am unsure how much deposit they will have put down- may have been less profit (albeit it looks like they never used the points so we had a year nearly banked)- those days will be a thing of the past I suspect on Riviera.
 

TCRAIG

Member Since 2010 SS/OKW/HH/BCV/WLV/BLT/GF
Joined
Jun 17, 2011
I’m just glad I’m old and have lots of grandfathered points - if these new restrictions were in place when I first bought - I doubt I would have bought - and my first 5 contracts were resale...
 
  • motherof5

    DIS Veteran
    Joined
    Apr 4, 2014
    You are correct. The interesting thing is the restriction on Rivera and presumably th other new resorts - buy direct and you have all the options but if you decide to sell, your buyer is limited to Rivera only (as currently interpreted in the article).
    I think it's worst for Rivera buyers then anyone else honestly.
     

    SpaceMountain77

    Kidani Villager Victorian Gentleman Turtle Trekker
    Joined
    May 3, 2012
    The greatest positive announced so far, seems to be potential Epcot/fireworks views (but it won’t be Illuminations).
    It will be Illuminations. Instead of Illuminations: Reflections of Earth, it will likely be Illuminations: Windows to the World.
     

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