01. Recent Changes for DVC Resales and Incidental Benefits.
We wanted to take the time and explain some of the information that has been recently released by the Disney Vacation Club. We will include some quotes from the letter that Disney sent to their owners and explain the true benefits of the Disney Vacation Club as well. From this point on, when you purchase on the resale market there will be some benefits that will not carry on to the new owner. This is in addition to what they have done already back in 2011.
Quote from member newsletter:
Effective March 21, 2011, Getaways included within the Disney Collection (e.g, Disney Cruise Line and Adventures by Disney) and the concierge collection, which are now membership extras have not been available for ownership interest not purchased directly from Disney Vacation Club. Now, effective April 4, 2016, Members who do not purchase their ownership interest directly from Disney Vacation Club will not have access to other Membership Extras, such as exclusive Member experience and discounts. (Those who already own, regardless of where they purchased will not be affected by this new policy change).
What does this mean for you? Is it still worth purchasing on the resale market? What is an incidental benefit? We will help with those answers.
What is an incidental benefit?
The definition of an incidental benefit is as follows: Accompanying but not a major part of something. Another definition would be: Occurring by chance in connection with something else. Incidental benefits that may be offered are not guaranteed and can change at any moment. When you make a purchase such as the Disney Vacation Club, we should all keep in mind what it really is we are purchasing and purchase for the right reasons. Anything that is listed as incidental should not be the reason you make such an investment.
When you purchase on the resale market, you will still have full access to all of the DVC Resorts themselves as well as RCI as your exchange company. Isn’t that why all of us are members? That has remained unchanged. You still have your 11 month booking window for your home resort and 7 month booking window for a non-home resort. You still receive a member ID number. What will happen is after closing, Disney will mail you a letter with your member ID number on it. They will not issue you actual member ID cards from what I was told by a Disney cast member. You can still log in online or call member services and use your member ID to make reservations. Again, this is the real reason we are members of the Disney Vacation Club.
Effective January 19, 2019, only Members who purchase directly from Disney will be able to use their Vacation Points at the 14 existing Disney Vacation Club Resorts or future Resorts—such as Disney’s Riviera Resort or Reflections – A Disney Lakeside Lodge. Resale contracts purchased for the existing 14 Disney Vacation Club Resorts will only be able to exchange Points into those 14 Resorts.
Aulani, Disney Vacation Club Villas
Bay Lake Tower at Disney’s Contemporary Resort
Boulder Ridge Villas at Disney’s Wilderness Lodge
Copper Creek Villas and Cabins at Disney’s Wilderness Lodge
Disney’s Animal Kingdom Villas – Jambo House and Kidani Village
Disney’s Beach Club Villas
Disney’s Boardwalk Villas
Disney’s Hilton Head Island Resort
Disney’s Old Key West Resort
Disney’s Polynesian Villas & Bungalows
Disney’s Saratoga Springs Resort & Spa
Disney’s Vero Beach Resort
The Villas at Disney’s Grand Californian Hotel & Spa
The Villas at Disney’s Grand Floridian Resort & Spa
DVC Magic Resales is here to help if you have any DVC Resale questions.
02. What is the difference between buying DVC resale and purchasing direct from Disney?
Where to begin? Well, essentially, there are certain restrictions that a resale ownership is subject to. To be specific, DVC resale owners are not able to use their vacation points for reservations or stays through the Adventurer Collection, Concierge Collection, or the Disney Collection nor will DVC resale owners have access to certain DVC promotions. Some of these are specific fringe programs that can cost you a lot of your DVC points anyway, so most owners find that the costs versus benefits strongly favor resale when you consider how much you can save on the purchase price. BONUS: A DVC resale point purchase does not require your physical presence in Florida!
03. How do you determine the value of a DVC listing?
The value of a DVC property is not too different than any other real estate. I look at the listings currently available and recently sold properties. The value is also driven by Disney through their right of first refusal process.
04. How does the purchase process work?
- Once we have an accepted offer. We will go under contract. The initial contract will be sent via docusign.
- Once back from buyer and seller, contracts are sent to Disney for the ROFR(right of first refusal).Disney has a total of 30 days to decide
- Once passed ROFR the file is then sent for search. The average search time is 7-10 days. Once back the closing company will send all final closing documents. These documents will need to be signed and any final funds remitted at that time.
- Once all documentation has been returned. The title agent will send the file to the state for recording (roughly a week). From there the file is sent to Disney for final resort notification (also roughly a week).
- Once the final resort notification is received. You are the new owner.
Note: From start to finish the whole process is about 75 days. During this process the client will have the sales person and the closing agent available for any questions.
Continue reading more at https://www.dvcmagicresales.com/faq/
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