RESALE POLICY CHANGE!

[DVC Mike]

Another broker:

Disney contacted us by phone at 5:09 pm EST on 4/5/2106 informing us that the most recent resale changes will affect any contract that is not recorded by 4/4/2016. This is different from yesterday’s message from Disney, which was “DVC has determined that all resale contracts received for review by Disney Vacation Development, Inc. prior to April 4, 2016 will not be impacted by this policy change; however, contracts received on or after April 4, 2016 will be subject to the policy change.”

And Another:

This is the information I just got from Disney regarding the change they made on 4/4/16. We thought it only applied to new files that were sent to Disney for ROFR after 4/3/16 but it applies to anything that hasn't been recorded before 4/3/16.

Any closings that take place after 4/4/16 will not receive a member ID card and the incidental benefits will not pass on to the new owner.


http://i235.************************************************************* DVC Mike - *******.com

 

[TaraPA]

Just got my email as well stating if not closed by 4/4, no membership card, no benefits. Our contract was sent to ROFR on 3/24, but I'm an existing member owning a prior resale contract, so it really doesn't concern me, but I'd be pretty upset if this was my 1st contract. Sorry to all of you caught up in this right now.

 

[DebbieB]

Another broker:

Disney contacted us by phone at 5:09 pm EST on 4/5/2106 informing us that the most recent resale changes will affect any contract that is not recorded by 4/4/2016. This is different from yesterday’s message from Disney, which was “DVC has determined that all resale contracts received for review by Disney Vacation Development, Inc. prior to April 4, 2016 will not be impacted by this policy change; however, contracts received on or after April 4, 2016 will be subject to the policy change.”

And Another:

This is the information I just got from Disney regarding the change they made on 4/4/16. We thought it only applied to new files that were sent to Disney for ROFR after 4/3/16 but it applies to anything that hasn't been recorded before 4/3/16.

Any closings that take place after 4/4/16 will not receive a member ID card and the incidental benefits will not pass on to the new owner.

This is really pathetic, they can't grandfather people in the purchase process? Change what they said yesterday?

No member card? You could be paying thousands in annual dues and no member card. I have to agree with what someone said originally, they are being spiteful. I think if I had a resale in process as a new member, I would pull it back just on the principle of how they are doing this.

 

[disnebraska]

This is really pathetic, they can't grandfather people in the purchase process? Change what they said yesterday?

No member card? You could be paying thousands in annual dues and no member card. I have to agree with what someone said originally, they are being spiteful. I think if I had a resale in process as a new member, I would pull it back just on the principle of how they are doing this.

We are giving it serious consideration.

 

[DVC Mike]

What a screw up by DVC. Member Administration did initially communicate that it was based on whether your contract was received for ROFR, and now today they are communicating a different message. Bad, bad, bad.


http://i235.************************************************************* DVC Mike - *******.com

 

[ScubaCat]

The official policy regarding pending contracts should have been clearly laid out in the "very positive step" letter or at least on a FAQ page somewhere. I still think that the written policy from yesterday (about anything having been submitted prior to 4/4) will ultimately stand, but you'd think they'd be a little more prepared for this.

 

[pinklotusflower]

When we purchased last year we had no idea we got these benefits until we had bought in, I don't think it'll make much difference to the resale market as you make such a big saving buying re-sale and it's also about getting the home resort you want.

 

[disneynutz]

Ken Potrock will step in and save us all.

A Disney bus driver told me that Jim Lewis is going to be Disney's next CEO now that the other executives have quit!

Bill

 

[southerngirl528]

A Disney bus driver told me that Jim Lewis is going to be Disney's next CEO now that the other executives have quit!

YIKES!!!!

 

[npmadsen]

They should have then taken all these contracts at rofr
I don't want to loose my deposit
So most likely will proceed but it leaves a very bad taste in my mouth
Had I known I most likely would have negotiated a different contract
Will need to weigh everything

 

[disnebraska]

The official policy regarding pending contracts should have been clearly laid out in the "very positive step" letter or at least on a FAQ page somewhere. I still think that the written policy from yesterday (about anything having been submitted prior to 4/4) will ultimately stand, but you'd think they'd be a little more prepared for this.

It's sloppy and it's very amateurish. They won't lose that much on the people already in the pipeline. From a business perspective, I understand what they're doing, but it leaves a very bad taste in the mouth. Especially when they changed their tune from yesterday to today. If yesterday was a miscommunication, then suck it up and stand by the communication. Or retract it immediately, not 24 hours later.

 

[freediverdude]

The saga continues! No wonder I ended up in phone forwarding hell when I tried to call DVC this afternoon. I was just trying to make a payment on a deposit on my new direct contract so it could close, but nobody could seemingly help me, lol. I bet they must have been swamped with calls today to member services and member accounting, boy did I call on the wrong day, lol.

 

[DebbieB]

It really puts the resale agents in a bad spot. They told their clients yesterday that they were OK, now they are not. I know they say benefits are subject to change but these people did not know that they were going to be treated as second class owners (can't say members). With no member card, I don't see how they could do anything member related, even some things mentioned yesterday like TOWL, Pool hopping or DVD rentals.

I've been defending Disney on some of their other recent moves like the extra ticket hours but not any more. I really do believe something is going on, they are trying to draw all the money they can out of people's pockets. I don't trust them at all, who knows what is next. Poor management.

 

[lmkoons]

Our broker (Fidelity) just confirmed the same thing. We had to close before 4/4 in order to qualify for the extras. We're so disappointed. Our resale contract passed ROFR on 3/16 and we should be completing estoppel any day now. It's so unfair that Disney can tell us we're grandfathered one day, and then take it back the next day. Has anyone reached out to DVC to complain? I'm thinking of sending them a strongly worded email. Maybe if enough people complain, they'll go back to what they originally told us yesterday. Probably not....but it's worth a shot, right? Between this and the Rivers of Light update today, I'm not too happy with Disney right now.

 

[disnebraska]

It really puts the resale agents in a bad spot. They told their clients yesterday that they were OK, now they are not. I know they say benefits are subject to change but these people did not know that they were going to be treated as second class owners (can't say members). With no member card, I don't see how they could do anything member related, even some things mentioned yesterday like TOWL, Pool hopping or DVD rentals.

I've been defending Disney on some of their other recent moves like the extra ticket hours but not any more. I really do believe something is going on, they are trying to draw all the money they can out of people's pockets. I don't trust them at all, who knows what is next. Poor management.

With regards to the resale agents, who are already in a bad spot, it seems like they made the correction phone call incredibly close to close of business, which is a cheap shot against the agents.

 

[DVC Mike]

It really puts the resale agents in a bad spot. They told their clients yesterday that they were OK, now they are not.

DVC's missteps on handling the communication properly makes them the bad guys. I don't hold any of the brokers responsible for communicating to their buyers what Disney told them.


http://i235.************************************************************* DVC Mike - *******.com

 

[KAT4DISNEY]

It really puts the resale agents in a bad spot. They told their clients yesterday that they were OK, now they are not. I know they say benefits are subject to change but these people did not know that they were going to be treated as second class owners (can't say members). With no member card, I don't see how they could do anything member related, even some things mentioned yesterday like TOWL, Pool hopping or DVD rentals.

I've been defending Disney on some of their other recent moves like the extra ticket hours but not any more. I really do believe something is going on, they are trying to draw all the money they can out of people's pockets. I don't trust them at all, who knows what is next. Poor management.

I agree with all of this except do hope that everyone is able to recognize that it all falls back on Disney, DVC and Ken Potrock and not on the resale agents who can only assume information they receive from DVC is correct. Simply awful business decisions DVC - Just grandfather in the few that are in ROFR! A sucker punch is not benefiting the business.

 

[WDW LOVR]

Ok, I don't have time to read through all 24 pages to see if this question has been answered.

Our original purchase and our first add on were purchased from Disney. Our next two add on's were resale. We are grandfathered based on owning prior to April 4.

If we add on more points (which we intend to do) through the resale market are we still going to receive the DVC member benefits since our first two contracts were direct from Disney?

 

[npmadsen]

I feel sorry for the brokers 'along with myself'
As my broker said this is malicious on disneys part

 

[disneynutz]

It really puts the resale agents in a bad spot. They told their clients yesterday that they were OK, now they are not. I know they say benefits are subject to change but these people did not know that they were going to be treated as second class owners (can't say members). With no member card, I don't see how they could do anything member related, even some things mentioned yesterday like TOWL, Pool hopping or DVD rentals.

I've been defending Disney on some of their other recent moves like the extra ticket hours but not any more. I really do believe something is going on, they are trying to draw all the money they can out of people's pockets. I don't trust them at all, who knows what is next. Poor management.

Took you awhile to see the light, as time goes on my posts about our relationship with Disney/DVC from several years ago are now being understood by many. All we can do is plan for the worse and hope for the best.

Bill