So dissapointed (update on post 13)

[tinkertastic]

For many months my DH and I have been searching for the perfect add on. We have made several offers, for one reason or another none of them have gone to contract. Finally, last weekend we found a great contract, priced well, it was perfect for us, so we made an offer. Then yesterday came the big Direct purchase vs. resale purchase benefit deadline announcement, I began to worry. This morning the offer was accepted by the owner. I was thrilled. I felt like we could definitely be through ROFR and closed by the deadline.

Now in the afternoon I get this email:

"I am sorry Grisel , there has been a misunderstanding by the seller and this contract is actually no longer available. He is elderly and owned many 80 point contracts and thought he still had another to sell. But, he does not. Never was a good listing. Again, I apologize for your disappointment, ****"

I have checked every listing and can not seem to find another contract that suites us. I am starting to feel like we might not be able to get in in time to have this add on be grandfathered in.

Feeling kinda defeated right about now.

Sorry to vent

 

[goofy2008]

We are new to the DVC, what is the dead line for??
Why must you buy now to be Grandfathered in?

 

[DVC SSR Owner]

Disney announced yesterday that resales that close after 3/20/11 can't use the points for cruises, concierge, and wdl and wdw resorts.

 

[sleepydog25]

For many months my DH and I have been searching for the perfect add on. We have made several offers, for one reason or another none of them have gone to contract. Finally, last weekend we found a great contract, priced well, it was perfect for us, so we made an offer. Then yesterday came the big Direct purchase vs. resale purchase benefit deadline announcement, I began to worry. This morning the offer was accepted by the owner. I was thrilled. I felt like we could definitely be through ROFR and closed by the deadline.

Now in the afternoon I get this email:

"I am sorry Grisel , there has been a misunderstanding by the seller and this contract is actually no longer available. He is elderly and owned many 80 point contracts and thought he still had another to sell. But, he does not. Never was a good listing. Again, I apologize for your disappointment, ****"

I have checked every listing and can not seem to find another contract that suites us. I am starting to feel like we might not be able to get in in time to have this add on be grandfathered in.

Feeling kinda defeated right about now.

Sorry to vent

/Sorry to hear of your setback, but all is not lost. It's not that resales are going away and, in fact, there is always the possibility that resale values will drop even further meaning you could get an even better deal. No, you won't have the ability to trade out for a cruise or resorts other than DVC, but using points for anything other than strictly DVC resorts isn't generally considered a good financial use of your points, anyway. So, don't give up the hunt. You might yet find something worth your efforts.

 

[calypso726]

For many months my DH and I have been searching for the perfect add on. We have made several offers, for one reason or another none of them have gone to contract. Finally, last weekend we found a great contract, priced well, it was perfect for us, so we made an offer. Then yesterday came the big Direct purchase vs. resale purchase benefit deadline announcement, I began to worry. This morning the offer was accepted by the owner. I was thrilled. I felt like we could definitely be through ROFR and closed by the deadline.

Now in the afternoon I get this email:

"I am sorry Grisel , there has been a misunderstanding by the seller and this contract is actually no longer available. He is elderly and owned many 80 point contracts and thought he still had another to sell. But, he does not. Never was a good listing. Again, I apologize for your disappointment, ****"

I have checked every listing and can not seem to find another contract that suites us. I am starting to feel like we might not be able to get in in time to have this add on be grandfathered in.

Feeling kinda defeated right about now.

Sorry to vent

The contract does not have to close by 3/20. It only has to be in to Disney for ROFR by 3/20. Jason at TSS has posted this info on several threads. I spoke with **** (one of the other reputable resale brokers) when I made an offer this morning since I worried about closing before 3/20. She told me the same thing. So don't worry you still have time to get grandfathered in

 

[sweetdana]

If you do not plan on using them for Cruises, ect, you may be able to get a better price after March 20th Prices of resales should drop, as they are going to be inferior to "new points".


Maybe this is a blessing.

 

[Granny]

I have checked every listing and can not seem to find another contract that suites us. I am starting to feel like we might not be able to get in in time to have this add on be grandfathered in.

Feeling kinda defeated right about now.

Sorry to vent

Sorry about the mess with the contract you were trying to buy. But as sleepydog said, using DVC for other options isn't considered a very efficient use of the points. I understand that it could represent some restriction on what you might have wanted to do over the course of the next 30-50 years, but hopefully you are buying DVC primarily for booking DVC resort reservations.

Not trying to downplay your feelings, just hate to see someone feel so low about something that hopefully won't have much impact. Good luck with your pursuit of a new contract.

 

[jodifla]

Sorry about the mess with the contract you were trying to buy. But as sleepydog said, using DVC for other options isn't considered a very efficient use of the points. I understand that it could represent some restriction on what you might have wanted to do over the course of the next 30-50 years, but hopefully you are buying DVC primarily for booking DVC resort reservations.

Not trying to downplay your feelings, just hate to see someone feel so low about something that hopefully won't have much impact. Good luck with your pursuit of a new contract.

I thinks this has been true, but the point prices for the Dream and Fantasy were actually pretty reasonable....I was ready to book a weekend cruise when the freeze went on.

 

[lugnut33]

Might be a good thing since the resale prices are probably going to see a good drop after the deadling because of this announcement. You'll probably be able to lowball an offer and get it passed.

 

[psac]

Don't forget your old points will still be grandfathered. So as long as they would cover a cruise or whatever, you could use those points for a cruise, and a potentially lower cost resale add-on for the WDW bookings.

 

[Anthony1971]

Also do not forget that what is being Grandfathered are perks that can be taken away or modified at any time for all members.
As far as trading for a cruise as of now it is difficult at best to get one and no one knows the future of the number of cabins DVC will be able to book if any at all on some dates.
IMO you are better off renting and paying cash for all that is being changed but more so the resort options. So there is a way around this and it always has been the choice which makes the most $ sense.
Do not fear it is a very small loss if any at all if you can not find what you want now.
As far as a price change no one can predict that... I do not see much change if any at all.. the alternative pay 120 a point retail
huge $ difference already

 

[Granny]

Also do not forget that what is being Grandfathered are perks that can be taken away or modified at any time for all members.

This is really the most important point. If the OP makes the deadline it still doesn't guarantee that the "protected" perks will be around in the future.

Bottom line is that DVC is a program that makes staying at DVC resorts affordable for many. ANYTHING beyond that shouldn't be a "make or break" rationale for buying DVC.

 

[tinkertastic]

I wanted to take a moment to thank all of you who posted, your words certainly made me feel better about the whole thing.

Now for the update!!!

So we found another contract to make an offer on, as it turns out, the seller had listed it below his payout so he wound up having to take the contract off the market. By this point i'm thinking I'm just going to wait till after the March deadline and see what happens. Well, I get a call from my broker the other day, turns out she had a seller call with a FANTASTIC opportunity for us. She called us as soon as the seller listed the property with her, after all we had been through, she wanted to call us before she made the listing public.

Long story short..... The seller listed at 55 per point, he accepted our offer of 54 per point, YAY!!!!! we're sooooo excited (fingers crossed for it to pass ROFR)

But it gets better!!!!! This increadibly kind and generous seller had an ENOURMOUS amount of points in reservation status that expire on FEB 1st that he did not want to go to waste, he said we should try to use up as many as we could. So we went into overdrive mode trying to plan a getaway with the family. He reserved three rooms at the Grand Floridian for 4 nights and wanted nothing in return. We're headed to WDW on Thursday!!!! I am just overwhelmed by his kind and generous gesture

 

[cally533]

Congrats! As far as perks, I remember the days when DVC members would get park passes included with each reservation. Talk about taking away a major benefit!

 

[Havana]

Awww, that is so nice! What a fun last minute trip!

 

[RobDoc]

Congrats! As far as perks, I remember the days when DVC members would get park passes included with each reservation. Talk about taking away a major benefit!

The free park passes were never a perk of membership - they were a sales incentive for early buyers at OKW and VB and the program ended in 1999 just as described in the POS at that time. It was not something taken away as the december 31, 1999 end date was always part of the incentive.

It was certainly a great incentive though.

 

[LouisianaDisneyFan]

Long story short..... The seller listed at 55 per point, he accepted our offer of 54 per point, YAY!!!!! we're sooooo excited (fingers crossed for it to pass ROFR)

But it gets better!!!!! This increadibly kind and generous seller had an ENOURMOUS amount of points in reservation status that expire on FEB 1st that he did not want to go to waste, he said we should try to use up as many as we could. So we went into overdrive mode trying to plan a getaway with the family. He reserved three rooms at the Grand Floridian for 4 nights and wanted nothing in return. We're headed to WDW on Thursday!!!! I am just overwhelmed by his kind and generous gesture

Wow! You must have an overabundance of pixie dust working in your favor!!! What a kind and generous person you happened upon. Thank goodness that first contract fell through, eh?!