If DVD offered extension, would resale then become direct if added?

[homey12]

Just thinking, but if DVD offered extension on VB, HH, BC, or BW, like what was done with OKW, and you have a resale contract so you can't book new resorts. If you added on the extension, do you think they might offer the contract to then be considered "direct"? I'm probably just wishful thinking but its worth considering.

 

[Brian Noble]

Wishful thinking in two different ways. First, I suspect any other extensions are very unlikely given the difficulty in implementing the OKW extension. Second, Disney might eventually offer a way to "wash" resale points, but it definitely will not be cheap.

 

[intamin]

Just thinking, but if DVD offered extension on VB, HH, BC, or BW, like what was done with OKW, and you have a resale contract so you can't book new resorts. If you added on the extension, do you think they might offer the contract to then be considered "direct"? I'm probably just wishful thinking but its worth considering.

Extremely wishful thinking. The OKW extension was a disaster they are still trying to rectify because not every owner signed a quitclaim afterwards.

I don’t see them keeping VB/HH because of dues. The contracts are nearly worthless as is and are holding onto their last shred of value only because people are using them to book at other resorts in the system.

I think everybody knows they can’t wait to ramp up the point charts at BC and BW which they can’t change without letting the deed expire.

There is no way they would let resale become direct for cheap as they’ve been hellbent on differentiating between the two.

 

[homey12]

Extremely wishful thinking. The OKW extension was a disaster they are still trying to rectify because not every owner signed a quitclaim afterwards.

I don’t see them keeping VB/HH because of dues. The contracts are nearly worthless as is and are holding onto their last shred of value only because people are using them to book at other resorts in the system.

I think everybody knows they can’t wait to ramp up the point charts at BC and BW which they can’t change without letting the deed expire.

There is no way they would let resale become direct for cheap as they’ve been hellbent on differentiating between the two.

Very valid points, and the point chart for BC and BW changing makes complete sense.

 

[kilik64]

I guess the original OKW ext was before there was any sort of difference between direct and resale so this wasn't an issue with that one?

 

[AstroBlasters]

Wishful thinking in two different ways. First, I suspect any other extensions are very unlikely given the difficulty in implementing the OKW extension. Second, Disney might eventually offer a way to "wash" resale points, but it definitely will not be cheap.

I wonder if exchanging points for “trust points” for a fee will be a way to “wash” the points….

That would give Disney $ and inventory….

 

[CarolynFH]

I guess the original OKW ext was before there was any sort of difference between direct and resale so this wasn't an issue with that one?

Correct, the extension was dreamed up by DVC management several VPs before the idea of diffentiating between direct and resale was implemented, so a whole different set of people.

 

[jason423]

The 2042 stuff is interesting to see what they do. While their first attempt with OKW was a disaster part of it being a disaster was that it was just too far away to be of interest to enough people and then the whole quitclaim issue. I would lean toward them not doing it again but having four disney resorts all expire at the same time I think would also be a nightmare for Disney. Regardless of point charts and how popular the resorts may or may not be getting people to rebuy a product after it expires (or that close to it) is not easy especially if its a property a family bout for say $120 a point and now you want to charge $300 a point. It is a lot of potential inventory to just have out there.

 

[intamin]

The 2042 stuff is interesting to see what they do. While their first attempt with OKW was a disaster part of it being a disaster was that it was just too far away to be of interest to enough people and then the whole quitclaim issue. I would lean toward them not doing it again but having four disney resorts all expire at the same time I think would also be a nightmare for Disney. Regardless of point charts and how popular the resorts may or may not be getting people to rebuy a product after it expires (or that close to it) is not easy especially if its a property a family bout for say $120 a point and now you want to charge $300 a point. It is a lot of potential inventory to just have out there.

I think the most likely thing to happen is they'll try to get current owners to buy a new deed or into the trust or whatever it is at that point starting 1-2 years before the contract expires to get the resort up and running so they don't start with an entirely new slate but it will not be an extension.

 

[Genie+]

I doubt they’ll offer extensions on BC, BW, BR contracts as they stand now. The terms would change (beside exp).

 

[njcoach24]

not every owner signed a quitclaim afterwards

I'm just trying to understand how signing or not signing may have extended the length of the deed. I thought a quitclaim only conveys title...

So why would signing one or not extend the length of ownership? I thought people were sold additional time?

BC, BW, BR contracts as they stand now

The biggest impact will be losing all these places in the resale contract market but I would hope they would offer those who have owned for long periods of time a good deal to keep/extend/or fold into something else.

 

[Sandisw]

I'm just trying to understand how signing or not signing may have extended the length of the deed. I thought a quitclaim only conveys title...

So why would signing one or not extend the length of ownership? I thought people were sold additional time?

The biggest impact will be losing all these places in the resale contract market but I would hope they would offer those who have owned for long periods of time a good deal to keep/extend/or fold into something else.

The ground lease was extended for OKW, so technically it changed the ending date of the contract for everyone.

For those that didn’t pay, or still own from prior to that change, it’s up in the air as to whether they can get the extension by default.

I think they could as DVD made that change without the approval or vote of owners.

 

[njcoach24]

The ground lease was extended for OKW, so technically it changed the ending date of the contract for everyone.

For those that didn’t pay, or still own from prior to that change, it’s up in the air as to whether they can get the extension by default.

I think they could as DVD made that change without the approval or vote of owners.

The theory that they could still under the original terms because owners never voted or approached is interesting. However, I’d imagine the association would have to collectively get together or DVD will just sit on its hands until they expire? Do people who didn’t agree at that time care enough at this point to argue it?

 

[Sandisw]

The theory that they could still under the original terms because owners never voted or approached is interesting. However, I’d imagine the association would have to collectively get together or DVD will just sit on its hands until they expire? Do people who didn’t agree at that time care enough at this point to argue it?

We are still 18 years away and by that time, if the number of original owners is small, DVD might not even worry either.

So, who knows what those who would be even in that position would do.

But, between now and then we could have many original owners who sell and when they do, the document is required to be signed which takes one less person out of it.

 

[Mirabell Rose]

My understanding is that those who bought OKW resale after the extension had to sign a waiver for the extension years, right? That means that only those who bought direct and still own those contracts, or who bought resale before the extension could claim the extension to 2057.

 

[Sandisw]

My understanding is that those who bought OKW resale after the extension had to sign a waiver for the extension years, right? That means that only those who bought direct and still own those contracts, or who bought resale before the extension could claim the extension to 2057.

It is not the buyer but the seller who has to sign a quit claim in order to sell.

But, yes, that is why every resale contract on the market thst was bought direct prior to the extension is automatically a 2042 since the owners selling signed the rights back to DVD in 2042.

 

[ajiuo]

There will never be an extension. They are going to eventually move all new contracts to a trust based system that will allow them to sale any contract for 50 years (or what ever time period they see fit) they could have deals where they offer resale members something if they agree to switch to the trust.