Resale Resorts Riv eligibility

[andyman8]

And DLH is the perfect place to start it because of demand and extremely limited supply.

This has been my thought for a while. Why start with a standalone resort whose biggest selling point is a transportation system that was still months away from debuting when they started pre-sales? CCV would've been a better resort to start with, but assuming they hadn't hammered out the details of the restriction in time for CCV pre-sales to begin, DLH would be/is the perfect resort to start the restriction. So many people want to buy there that there will be more than enough willing to not only pay big bucks for a contract but gladly accept the restrictions. Once the precedent is set at one sold-out resort, I think the discussion about the restrictions would die down. You also probably wouldn't get the "outrage" from the membership about this restriction at DLH, given how many of them are concentrated on the East Coast and would only be buying DLH villas to use it there.

 

[andyman8]

Just posted, the waiver wording today changed back to 14 ... I guess it was a typo!

PLEASEMAKE AN OFFICIAL STATEMENT

 

[Wedgeout]

One of those typos that shouldn’t have slipped out of the office

 

[Liquidice]

PLEASEMAKE AN OFFICIAL STATEMENT

I suspect we'll hear nothing, unless those of us who received the ROFR waiver wording between 8/11/20 and 9/30/20 want to start a class action lawsuit ... Not saying we should, but that would probably be the only way to get a response out of them.

 

[EM Lawrence]

Man, I missed out on the class action lawsuit by 12 days! We passed at the end of July.

 

[TexasChick123]

Just posted, the waiver wording today changed back to 14 ... I guess it was a typo!

Boo!!!

 

[EM Lawrence]

Can we collectively obsess about this a little bit more? I’m not ready to let it go yet!! LOL!

 

[TinkB278]

So it’s for sure not a possibility anymore?

 

[EM Lawrence]

The Magic 8 Ball says ”Ask Again Later.”

 

[CP3uhoh]

So I guess the points for tickets, food, merch exchange is the only possible change? Bummer.

 

[Brianstl]

Can we collectively obsess about this a little bit more? I’m not ready to let it go yet!! LOL!

Sure, they may have just changed it today to avoid having to make an announcement until they are ready to make an announcement.

 

[TexasChick123]

Sure, they may have just changed it today to avoid having to make an announcement until they are ready to make an announcement.

Kind of like having a meeting for a meeting. I was also wondering if they were doing exactly what you suggest.

 

[nickoley]

Oops sorry I didn’t see the most recent comments!! Sorry for redundant chime in.


Well, whoever said it seems that this was a mistake is the winner chicken dinner because now two waivers came out today, per original broker I saw this with, with only the 14 resorts mentioned again... what a buzzkill.

Unless they’re still going to do it but didn’t mean to do so before 10/4.

 

[fsulaw2001]

Just to add another interesting data point to the conversation, but it seems Disney is still active with ROFR. Disney has taken 3 that we've sold since COVID began - and all were sold stripped at going market rates.

I personally believe DVD wants to push resale prices back up. Are they swinging the pendulum to the "look, if you ever decide to sell there is an active market and you won't really lose money if you hold it a few years" argument? It seems fixing the RIV resale restriction would advance that position. Or am I just engaging in wishful thinking...

 

[Sandisw]

I completely agree. Whoever was in charge got greedy and should be fired. This was a very poor plan. Now my question is if they reverse it can they reverse it again? How loose is the language?

Yes, The language of the document says they can removed it and it it back in. They can make changes that include a fee and that decisions could apply to some club members and not others,

Basically, they can do whatever they want with this. One thing about the change is that it didn’t change the effective start date of a January 2019. So, whatever change is coming...assuming it’s not a mistake, it will apply all the way back.

Or, the fact that they didn’t change the date could mean it was a screw up.

 

[Sandisw]

I suspect we'll hear nothing, unless those of us who received the ROFR waiver wording between 8/11/20 and 9/30/20 want to start a class action lawsuit ... Not saying we should, but that would probably be the only way to get a response out of them.

the POS document with RIV does say that it can be put back at any time within their discretion. So, honestly, that document wouod probably not be enough.

 

[Sandisw]

So I guess the points for tickets, food, merch exchange is the only possible change? Bummer.

There have been posts over the years that those types of things may not be allowed under FL law as this is real estate.

But, if it was, the only way that happens is DVCM has to make a deal with WDPR to accept the room to be sold for cash to pay for them,...like what happens with cruises,

Given that the hotels are struggling with occupancy, I can’t see them taking it on,

Now, I could see them deciding to offer more blue card perks that include those discounts at a bigger rate which maybe is coming with the increase?

 

[nickoley]

Just to add another interesting data point to the conversation, but it seems Disney is still active with ROFR. Disney has taken 3 that we've sold since COVID began - and all were sold stripped at going market rates.

I personally believe DVD wants to push resale prices back up. Are they swinging the pendulum to the "look, if you ever decide to sell there is an active market and you won't really lose money if you hold it a few years" argument? It seems fixing the RIV resale restriction would advance that position. Or am I just engaging in wishful thinking...

Laying people off to save money, but spending $$ on dvc.

 

[Liquidice]

the POS document with RIV does say that it can be put back at any time within their discretion. So, honestly, that document wouod probably not be enough.

I am not a real estate lawyer or anything - but that would work for owners of RIV, but would it apply to someone who bought at one of the other resorts? If we were told 16 resorts, and then it changed to 14, wouldn't that be a material change in the contract? The ROFR Waiver isn't necessarily part of the contract though - I don't know. Probably not worth the time or effort to do anything about it imho

 

[Sandisw]

I am not a real estate lawyer or anything - but that would work for owners of RIV, but would it apply to someone who bought at one of the other resorts? If we were told 16 resorts, and then it changed to 14, wouldn't that be a material change in the contract? The ROFR Waiver isn't necessarily part of the contract though - I don't know. Probably not worth the time or effort to do anything about it imho

It would apply to all because the document that included the resale restrictions for RIV also includes the restrictions put in place in Jan 2019 for resale at the L14 resorts,

It is all the same document that was created to cover everything that happened then.

In terms of a material change, once a contract closed it has to follow FL timeshare laws. But, the policy never changed officially so I am not sure one could say it did based on just that one document,

I don’t recall but does the purchase offer include the information about the restrictions?

I really don’t think one would have grounds when the document that put it in place says they can make adjustments, at their discretion whenever they want, It says nothing about prior notice.

Basically, the POS document that covers this gives them the authority to amend it at will.

Could someone try and challenge It? Maybe but I think it’d be tough.