DVC RESALES
DVC RESALES

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Old 04-06-2013, 11:13 PM   #16
disneynutz


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When you book SSR can your request a certain section? I think the contract ends in 2054 for that one. I'm using 28-29 years vs 40-41 years to compare. I'd be close to 90 at 41 years but could pass on to the kids! In that case can a contract be split between the heirs if the main owners die? And for that matter is it joint tenancy for the original so if one spouse dies there are no tax or estate issues?
Keeping a contract full term is a lot of years vacationing at Disney which is a very expensive vacation. Coming up with the money during our working years is on thing but after retirement it can be a challenge.

I did a study and our 300 point BCV contract, kept to full term with travel, food tickets and extras with inflation will add up to over $250,000.

Living a contract to heirs can be an issue also. Who knows what Disney will be like then, who will own WDW, and will your heirs appreciate your gesture or will they be upset because they have to deal with selling a contract that they have no interest in and it may cost more to sell it than it's worth.

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Old 04-07-2013, 07:15 AM   #17
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....(snip)..... No tax or real estate issues that I have ever heard of. We fully intend to leave or contracts to our adult children who fully intend to use them.
This really depends on individual situations. There may not be major issues with the contract when the first spouse dies, but there will certainly be estate and tax considerations when the second spouse dies. An attorney should be consulted to look at one's specific situation.

For example, if the deceased DVC owners are not Florida residents and pass the DVC contract via a will, the will must go through probate in Florida in addition to probate in their home state. There are ways to avoid that (trust), but again, an attorney should be consulted.

I work in the financial services industry and often encounter these types of issues. I am not an attorney.
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Old 04-07-2013, 08:13 AM   #18
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This really depends on individual situations. There may not be major issues with the contract when the first spouse dies, but there will certainly be estate and tax considerations when the second spouse dies. An attorney should be consulted to look at one's specific situation.

For example, if the deceased DVC owners are not Florida residents and pass the DVC contract via a will, the will must go through probate in Florida in addition to probate in their home state. There are ways to avoid that (trust), but again, an attorney should be consulted.

I work in the financial services industry and often encounter these types of issues. I am not an attorney.
Thank you for this, it's good to know.

I have heard that if you want your children to have your contracts, you still have to go through ROFR. We have considered putting them on the deeds but we have 3 contracts and 3 daughters, I imagine this could get pretty expensive to do it. It may be worth it to avoid problems in the future.

As for passing on a burden/liability, one of my daughters is already a DVC owner and knows all about it, no problem. They want whatever we will give them. Given a choice, they want the 160 BCV contract.

Another wants to be an owner, she learned all about DVC when it first started and begged us to look into it. She has a large family and hasn't bought yet because they know they will get 210 BLT points from us eventually.

The 3rd is the only real question mark because she is really frugal but loves WDW with such a passion that I don't see her not using hers, at least every other year. She will most likely choose the 100 BLT point contract. It's all about the MFs for this one.
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Old 04-07-2013, 09:27 AM   #19
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I would purchase VWL points to have the 11 month booking for late Dec-early Jan and definitely do those bookings 11 months in advance. I think the location, theming and amenities are great. Now if I wasn't interested in definitely getting those dates I would think seriously about SSR.

I think that is going to increase in location draws once Disney Springs is finished in 2016....wow what a view across the water in the evening.

DH and I love AKV and are so glad we purchased there. He wants to add-on there one day.....but Disney Springs makes me think.....hmmmm

Although we purchased our contract direct in 2009. Disney has now priced us out and resale is how we would add on.
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Old 04-07-2013, 09:30 AM   #20
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You can split the contract in half, say 100 at WVL and 100 at SSR, or 50 points here and 50 points there. Contracts less than 100 points are harder to find...so if I had four kids each would get a 50 point contract or that is the way I would purchase them from the start. These contracts are also easier to sell if needed.

DH and I do not have children.
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Old 04-07-2013, 10:20 AM   #21
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I did a study and our 300 point BCV contract, kept to full term with travel, food tickets and extras with inflation will add up to over $250,000.
With no qualification, $250K is a large number. But how many days of enjoyment is that going to yield?

There's an assumption made with every DVC purchase that the buyer WANTS to spend a significant amount of time--and money--visiting the Disney parks and resorts. Pre-paying for the accommodations via DVC is only going to lessen the financial burden in later years of ownership.

Dues will rise as resort operating costs go up...but so will rates for Disney hotels. 10 or 20 or 30 years from now, there is no reason to believe Disney will accept lower profit margins on its hotel business.
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Old 04-07-2013, 10:28 AM   #22
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We have 2 daughters and both are huge Disney fans; they are still young but I suspect will follow in my footsteps of Disneymania! We are Florida residents now but who knows in the future so thanks for the advice re:future legal counsel. Now VWL and AKV have been seriously added to my think about list but Vero Beach has dropped off. Seems like SSR is the easiest to get booked if you have a different home resort so one of the others may be a better choice. I like the value options at AKL but also like VWL in general (plus DH is from Washington state so reminds him of home). I do like what I've read about SSR as well as it's better overall cost and I agree that Disney Springs increases it's value. We're not big shoppers but it would be nice to be close to all the dining and entertainment.
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Old 04-07-2013, 10:33 AM   #23
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Originally Posted by tjkraz

With no qualification, $250K is a large number. But how many days of enjoyment is that going to yield?

There's an assumption made with every DVC purchase that the buyer WANTS to spend a significant amount of time--and money--visiting the Disney parks and resorts. Pre-paying for the accommodations via DVC is only going to lessen the financial burden in later years of ownership.

Dues will rise as resort operating costs go up...but so will rates for Disney hotels. 10 or 20 or 30 years from now, there is no reason to believe Disney will accept lower profit margins on its hotel business.
Agree! We have spent significantly more staying at the resorts than we would have if I had bought OKW nearly 20 years ago. We also probably would have vacationed more or stayed overnight rather than driving home late when we lived in central Florida, especially after the Halloween and Christmas parties.
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Old 04-07-2013, 10:37 AM   #24
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Originally Posted by tjkraz View Post
With no qualification, $250K is a large number. But how many days of enjoyment is that going to yield?

There's an assumption made with every DVC purchase that the buyer WANTS to spend a significant amount of time--and money--visiting the Disney parks and resorts. Pre-paying for the accommodations via DVC is only going to lessen the financial burden in later years of ownership.

Dues will rise as resort operating costs go up...but so will rates for Disney hotels. 10 or 20 or 30 years from now, there is no reason to believe Disney will accept lower profit margins on its hotel business.
My point for bringing this up is that many seem to feel based on posts and discussions that I have had is that once they come up with the money to buy an ownership they are home free. Buying a contract is in reality the least expensive cost of a DVC ownership and Disney vacation. Even friends and relatives have made the comment that Disney doesn't cost us anything because we own a DVC membership.

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Old 04-07-2013, 11:20 AM   #25
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We began looking at DVC in 1995, and I figured out the cost of a membership in OKW from that time until the ending date and that was a factor in our not buying in then. When we finally did buy in, the total cost of the membership did not weigh on our mind at all. We were nearly 10 years older and we looked at the money differently. We did focus on the enjoyment and possibilities from multi generational visits to WDW and the other resorts, HHI and VB at the time. We obviously weren't ready in 1995.
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Old 04-07-2013, 04:14 PM   #26
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Bill, I understand your point. I agree people need to be aware of all the costs. I'm just comparing DVC ownership to either renting points or booking a resort room with Disney because the other expenses would be about the same. My understanding is other than the buy in costs the annual maintenance fees are all there is. Please let me know if that is incorrect! As a Florida resident we can get discounted passes or sometimes discounted tickets. But if we ever move out of Florida, the DVC rate for annual passes is really good too. I'm neutral about the dining plan although it's good that it's available if we want to get it. I'm also fairly neutral about the lack of daily housekeeping since for the significant cost savings I can make the beds, vacuum and reuse and/or wash towels. For now we're looking more for a smallish amount of points where we can stay a few days to a week or so every year and in one of the more affordable places; then maybe add on in the future. We've stayed at the Contemporary and Grand Floridian and while they are nice, I wouldn't be heartbroken if we couldn't stay at either again. Liked the Polynesian and Wilderness lodge more. Hated All Star Sports. Stayed at Port Orleans Riverside when it was called Dixie Landings and was ok but other than a close way to get a beignet fix (I grew up in Louisiana) not someplace I'd clamor to return to. If you folks could chose one negative thing about being DVC owners what would it be?
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Old 04-07-2013, 05:38 PM   #27
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I feel that the biggest negative for me is the fact that I have to plan so far out (11 months) to get what I want. That's a standard view 2br at BLT. Oh, I do it but sometimes life happens. Last year we had to cancel last minute because of a death in the family. We did manage to take our trip later but had to stay at OKW instead since there was no way BLT was available.
OKW is beautiful and we had a great time but we were still disappointed.

Other than that, we live nearly 1000 miles away.

Sorry, that's 2 negatives.
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Old 04-07-2013, 10:29 PM   #28
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LOL! 2 negatives is ok! Sorry about the death in the family. Is there a certain time frame you have to re-book after a cancellation? If it's close to the time your yearly points expire and you can't rebook do you lose the points or can you rent them?
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Old 04-07-2013, 11:11 PM   #29
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LOL! 2 negatives is ok! Sorry about the death in the family. Is there a certain time frame you have to re-book after a cancellation? If it's close to the time your yearly points expire and you can't rebook do you lose the points or can you rent them?
Your points will expire at the end of your use year if you don't bank them. You can only bank once. And you must bank before the last four months of your use year.

If you cancel 30 days or less out, your points go into holding and cannot be used to make a reservation until you are 60 days out. And those points cannot be banked and will expire at the end of your use year.

You can try to rent those points, but it gets harder to make a reservation at 60 days out, especially in the last three months of the calendar year.
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Old 04-08-2013, 01:39 AM   #30
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hi d.bub !

you are not alone & we have similar circumstances in that we
brought 3 blt contracts for our children too.

yes, i think dvc need to progress with specific rules to balance
the differences in the home resort....& they need to address
some other issues they have been ignoring , like renting.

most chose a side like pro vs con....but i think dvc simply
are trying to be neutral. in the beginning with dvc being a
smaller club with just a few resorts ...that work but now &
the growing numbers should be getting some attention.
that and decrease sales & the % renting vs their cash
resorts.

for ex. , if you was a ssr or okw owner, then the problem
you encountered with cancelling wouldn't have the same
negative outcome. i know we never plan on ever using our
blt points @ those resorts. has nothing to do with
the resorts but location..& the fact we go to disney to
do the parks.

quality assurance should include provisions that benefit all
owners over renters & any trade in. also there need to be
a limiting of the "perks" from owners working inside.

they don't need a complete set of restrictions, liked
separating resales vs direct...just tweaking the system
to address each resort with their owners' needs. so it
could accomplished both "groups"~ to keep the attractions
strong. to me , it 's common sense how they can
work around the 2 main groups....direct /resales with
parks perks. why they are not is puzzling.

some mentioned legal issues...on what they can /can't
do.... but dvc isn't a standard timeshares & dvc options
are endless-- on what they could do for direct over resales...
everything from bonus fast passes, to special dinning
rules, to whatever .....none will effect resales except
push those that can afford it ,toward direct.

nothing prefect, but the thing you mentioned above is
why we chose a sept uy, giving us the best chance @
our home resort if we had to cx..( based on the trends
i read here). so far we've been lucky. but i don't like
relying on luck.

also with the directions they have been going, i can see
dvc breaking away from trading with rci esp. since
they have parks around the world. as for "pure" dvc owners,
i haven't seen any thing good....just a wasted benefit
to us that cost us more in dues.


like in your situation , i think a family death should have
given you the right to relocated a renter or a trader ,
to okw & your family to your home resort.
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