RESALE POLICY CHANGE!

[ScubaCat]

3. As of right now it appears it will gain you the member perks but no one knows if that will change in the future (i.e. Disney requiring a higher number of points to qualify as a "direct purchaser" and get those perks). It will not make your points eligible to exchange for cruises or the Disney collection (bad use of points anyway)

Well, if you bank and then borrow the 25, you'd have 75 you could use for a cruise! Maybe you can get a top bunk on the crew deck.

 

[drusba]

I believe that TOTWL was declared into the association. I think it is leased back to Disney to operate the lounge.

Clarifying, my understanding was that TOTWL is space that is part of BLT but it was made a commercial unit (currently owned Disney) that can be operated by business entities, which would mean that whatever entity is using it pays for its maintenance, repairs, and operations and the money for that does not come out of dues. That distinguishes it from Community Halls which are actually part of the common areas for which dues cover their maintenance and operations. Under timeshare law, one of the requirements for a perk to qualify as an incidental benefit which Disney can exclude resale owners from using is that members' annual dues are not used to provide or maintain it. Thus, TOTWL could potentially be a perk that Disney could exclude resale purchasers from using. However, excluding resale purchasers from using it may not be a wise business decision because TOTWL's business model depends solely on members (and not others) using it and buying items such as drinks at TOTWL.

 

[JHank44]

1. From what I have read it is believed to be the case since it is technically a common area and therefore paid for by BLT owners MF.
2. Don't think anyone knows for sure but that could definitely be a no if DVD (the selling arm of the timeshare division) is paying for it vs member dues.
3. As of right now it appears it will gain you the member perks but no one knows if that will change in the future (i.e. Disney requiring a higher number of points to qualify as a "direct purchaser" and get those perks). It will not make your points eligible to exchange for cruises or the Disney collection (bad use of points anyway)

There are 3 current owners classes

1. Resale Points purchased prior to March 2011 and all direct purchased points-access to membership extras as well as the ability to exchange points for Disney travel and Concierge collection. This is tracked by the points used to book and only applies to direct purchased points and resale contract points bought prior to March 2011 qualify (i.e. If you qualify and buy another 200 resale points later on those are not eligible).

2. Resale buyers who purchased between March 2011 and April 4 2016. No access to those collections (points do not qualify) but full membership perks otherwise (discounts on park passes, access to special events, dining/shopping discounts, etc)

3. Resale Buyers after 4/4/16
No access to those collections (points do not qualify) and no access to membership extras. If you read the document DVC put out it does not list the restaurant and shop discounts so those may possibly continue. Ticket discounts and special events are specifically mentioned so those would only be avail with a subsequent direct purchase. That will gain you the membership extras and ability to book those collections but only with your direct purchased points (i.e. If you buy 25 direct only those points are eligible not your resale contract)

Thanks for the thorough reply and everyone else that added more detail. Now I need to figure out if the 25 point add-on is worth it...

 

[freediverdude]

For the TOTWL, I bet in practical usage it will depend on whether Disney insists on seeing a membership card to go up, or if the magicband has a DVC member notation on it when it is scanned. Someone who only owns post 4/4/16 resale points will have to try it and report back. Or we may get an inkling of what will happen when the Epcot lounge opens.

 

[vigi28]

When was the Poly selling at $154?

We bought our Poly at $152 pp on the resale market and passed ROFR in February. I was pleased with it, and surprised it passed through Disney.

 

[Dean]

We bought our Poly at $152 pp on the resale market and passed ROFR in February. I was pleased with it, and surprised it passed through Disney.

No surprise it passed, I'd have been shocked if it didn't. Their direct costs are likely well under $100 a point for the Poly. And it's not low enough to buy it back just hurt the resale market and show they can.

 

[NJDIZGIRL]

Does anyone know if these changes have affected current resale prices or resale volume in general? We just signed a resale contract to purchase 25 points at BLT for $110pp. I was actually a little surprised they accepted at that price, but thrilled. I did notice that the contract had been available for about a month -asking $130. I made the low offer due to the proportionately high price of closing costs on such a small contract, but now really thinking that it won't pass ROFR. Would be interested to hear anyone's thoughts on our chances of passing ROFR...

 

[skier_pete]

Does anyone know if these changes have affected current resale prices or resale volume in general? We just signed a resale contract to purchase 25 points at BLT for $110pp. I was actually a little surprised they accepted at that price, but thrilled. I did notice that the contract had been available for about a month -asking $130. I made the low offer due to the proportionately high price of closing costs on such a small contract, but now really thinking that it won't pass ROFR. Would be interested to hear anyone's thoughts on our chances of passing ROFR...

I think it will pass. It's only 25 points, but it is in the normal price range for these resorts. Disney won't bother to ROFR it just because it's low for a small contract. Price isn't THAT low. There's a thread on here where people post their prices paid. The most recent one is at the link below:

http://www.disboards.com/threads/ro...ost-for-instructions-formatting-tool.3497913/

 

[disneynutz]

Clarifying, my understanding was that TOTWL is space that is part of BLT but it was made a commercial unit (currently owned Disney) that can be operated by business entities, which would mean that whatever entity is using it pays for its maintenance, repairs, and operations and the money for that does not come out of dues. That distinguishes it from Community Halls which are actually part of the common areas for which dues cover their maintenance and operations. Under timeshare law, one of the requirements for a perk to qualify as an incidental benefit which Disney can exclude resale owners from using is that members' annual dues are not used to provide or maintain it. Thus, TOTWL could potentially be a perk that Disney could exclude resale purchasers from using. However, excluding resale purchasers from using it may not be a wise business decision because TOTWL's business model depends solely on members (and not others) using it and buying items such as drinks at TOTWL.

My understanding is that it was a commercial unit at first but later it was changed and the BLT owners got stuck with the expenses. Disney leased itself back the lounge and bar and keeps the proceeds from the bar sales.

Bill

 

[drusba]

My understanding is that it was a commercial unit at first but later it was changed and the BLT owners got stuck with the expenses. Disney leased itself back the lounge and bar and keeps the proceeds from the bar sales.

Bill

Did not know about that but it certainly sounds like something Jim Lewis or our current DVC head, Ken Potrock, would definitely have agreed to since it screwed the members.

 

[CarolMN]

Did not know about that but it certainly sounds like something Jim Lewis or our current DVC head, Ken Potroick, would definitely have agreed to since it screwed the members.

Maybe not.

Depends on the amount & terms of the lease. I'm not all that sure that the bar makes a huge profit, given its limited hours. It's never been crowded when we've been there on "ordinary" evenings. In fact, I wondered how they could even cover the wages they were paying the staff, given the very few drinks I saw at the tables. BLT members may be better off not taking the risk and getting a predictable amount every month for the lease.

 

[ziravan]

Maybe not.

Depends on the amount & terms of the lease. I'm not all that sure that the bar makes a huge profit, given its limited hours. It's never been crowded when we've been there on "ordinary" evenings. In fact, I wondered how they could even cover the wages they were paying the staff, given the very few drinks I saw at the tables. BLT members may be better off not taking the risk and getting a predictable amount every month for the lease.

If it were under lease, blowing off membership requirements and opening to all comers should be the business model.

A for-profit outfit takes all business unless full to overflowing.

Keeping the place artificially "cozy" is a membership "perk", so of course members should make up the difference.

So. Should it be a subsidized perk or a for-profit enterprise?

BLT members might be better of with the place under lease, but there should be trade offs to that.

 

[disneynutz]

If it were under lease, blowing off membership requirements and opening to all comers should be the business model.

A for-profit outfit takes all business unless full to overflowing.

Keeping the place artificially "cozy" is a membership "perk", so of course members should make up the difference.

So. Should it be a subsidized perk or a for-profit enterprise?

BLT members might be better of with the place under lease, but there should be trade offs to that.

I would guess the it depends on the lease terms, BLT owners were not notified of the changes until after it happened. I don't know what Disney pays for or what the owners pay for.

Bill

 

[JadeDarkstar]

Ok I am new at looking at re-sell dvc. We know about not being able to take cruises, and use for adventures but what is this now and what all does this effect where is a list. I need to make sure if my family would care about these new changes or not now.

 

[hayesdvc]

I am not sure if this has been posted under another thread, however, there was some question about whether the Epcot Lounge would/would not be considered a perk. I was watching a video that Lou Mongello recorded at the Lounge and he asked a CM this very question. The CM stated resale after April 4th would not be eligible to visit the lounge

 

[ScubaCat]

Ok I am new at looking at re-sell dvc. We know about not being able to take cruises, and use for adventures but what is this now and what all does this effect where is a list. I need to make sure if my family would care about these new changes or not now.

https://disneyvacationclub.disney.go.com/media/dvc/en/hidden-pages/MEADS_Final.pdf

 

[pinklotusflower]

I wouldn't worry about access to the Epcot lounge as this is not a permanent benefit for DVC members, the main benefit that you'll be missing out on is the annual pass discount

 

[skier_pete]

Ok I am new at looking at re-sell dvc. We know about not being able to take cruises, and use for adventures but what is this now and what all does this effect where is a list. I need to make sure if my family would care about these new changes or not now.

Re-sale buyers now no longer get the membership perks. This includes discounts on food and merchandise, access to things such as the Top of The World Lounge, and perhaps most importantly the lower price annual passes for DVC members / Florida residences.

Is been suggested a way to get around this is to buy a resale contract for most of the points you want, and then buy a small (25 point) contract direct from Disney. The 25 point contract would give you the membership perks without having to pay full price for all of the point. It seems like a good idea, though I don't know if anyone has tried it yet - supposedly if you already own points, you can buy additional incremental (25 point) contracts direct, but I don't know that anyone has been allowed to do this under the new resale rules - though there is no indication that they wouldn't.

 

[ScubaCat]

I wouldn't worry about access to the Epcot lounge as this is not a permanent benefit for DVC members, the main benefit that you'll be missing out on is the annual pass discount

ALL benefits are temporary, including the ability to buy a gold annual pass.

Is been suggested a way to get around this is to buy a resale contract for most of the points you want, and then buy a small (25 point) contract direct from Disney

Most likely, but not for sure. It depends on how they determine eligibility. If it's based on whether any contract was bought direct, then yes that would work. However if it's based on how the membership was originally established, it would not. We'll have to wait and see whenever someone with a recent new resale membership inquires about or actually tries it.

 

[supersnoop]

It depends on how they determine eligibility. If it's based on whether any contract was bought direct, then yes that would work. However if it's based on how the membership was originally established, it would not.

The official document says "purchased an ownership interested directly from DVD." Any purchase should qualify.