WARNING SIGNS IN THE DISNEY VACATION CLUB RESALE MARKETPLACE!
by Tom Yeary
The Timeshare Store
Handling the Disney Vacation Club Resales requires a great deal of knowledge and expertise as they are unlike any other on the market. It is imperative that you use a broker who specializes in this area to achieve the outcome you desire and avoid some of the unpleasant pitfalls by inexperienced brokers.
Warning signs for BUYERS:
1. A small amount of listings in their inventory (Indicates NO track record)
2. Talking with agent leaves you unsure they know the product. Ask questions about banking, borrowing, points in holding, etc.
3. Unreturned or late response to your inquiry (Where will they be when you need help with the ROFR, Closing Process & getting into the DVC system? A knowledge of the right people to contact in case of a situation is
4. Mistakes on postings on their website. Example: OKW, 2 bedroom Wk 6 (DVCs are in points, not weeks and certain size units.)
5. The company tells you that you can purchase BWV for $65 a point and clearing the ROFR will be no problem. (They will get their commission when Disney exercises their ³Right Of First Refusal² so they really don't care if you are a new owner or not. In fact, they prefer it, because it's less work for them and they don't have any worries about the closing process or anything else.)
6. Do they have an office? (Many don't, ask for directions, or look up their address, if it's a residential area or a P.O. Box????)
Warning signs for SELLERS:
1. The company asks for an upfront listing, advertising, appraisal, website development, or auction fee. (There is no end to the names they come up with to describe an upfront fee. This is one of the biggest ripoffs out there.
These people will take your money and in most cases you will never hear from them again.)
2. The company insists that you sign an "exclusive" listing agreement with a term of several months or even a year (usually 6 months or more), which of course means you are stuck for the duration of the agreement, even if you find your own buyer. If another company or you find a buyer for your package, you also owe the exclusive broker a commission.
3. The company charges you a cancellation fee if you withdraw your listing before the end of the listing term. (Example: Things happen, if you were selling for financial reasons and suddenly came into some money, you would still be forced to sell or pay the cancellation fee which can sometimes be hundreds of dollars.)
4. They tell you they can get you $150 per point. (That's an exaggeration, but it happens. They will start hitting you up to reduce your price as soon as the listing contract has been signed. They will say the market has changed. Just remember, if it sounds too good to be true, you know the
5. Is their office easily accessible to the public? You should be able to walk in during regular business hours and be assured they can and will handle your business transaction. Does the broker work out of their home?
Do you really think a purchaser is going to drive to their subdivision, knock on their door, and sit down at their kitchen table to write up a contract? How many DVC buyers have actually done this? The internet has enabled many people to disguise the true circumstances of their situation.
They have a pretty website, so the public thinks the are dealing with a really big operation.
6. Do they have a person answering the phone or is it primarily an answering machine. People are continually frustrated in this day and age just dealing with the obstacles of trying to speak to a real person. This does NOT put them in the buying mood. Most often they will keep calling around until they reach someone who can discuss their situation.
7. The company advertises NO Closing Costs. They are either calling the closing costs by another name or not giving the buyer & seller the legal protection needed to pass on a free & clear title. Read the fine print in the listing agreement and closing paperwork. Remember, ³there is NO free lunch².
The latest trend in the Resale business is for brokers to align themselves with a national franchise in order to legitimize their operation, thereby creating a false sense of security to the general public. Examples: ERA, Century 21, GMAC, RE/MAX, etc. Some Resale brokers go from one franchise to another after the number of complaints build up, they simply purchase a new franchise and it's business as usual. Most legitimate and ethical businesses should be able to use and operate under the same name for many, many years.
In fact, if their reputation was one they could take pride in, they would insist upon it!
The above statements are certainly not meant to be construed to include "every" agency that is backed by a franchise. There are definitely some reputable Resale offices with ties to franchises. My warning is, it's NOT always the case. Protect yourself, look for the same warning signs with these companies as you would with any other Resale company!
- Beaches and Cream will begin accepting reservations December 18 - This small soda fountain restaurant serves burgers, sandwiches and their signature ice cream desserts.
- Limited Time Magic: Secret Santa Week - Visit the Town Square Christmas Tree on Main Street and see Duffy in his Christmas outfit. Other Disney characters will be located around the park. Get a special decorated keepsake card from each one as a souvenir.
- Limited Time Magic: Tour the Magic Kingdom with Phil Holmes - 25 lucky guests will get to tour the park with current Vice President Phil Holmes.
- Blog - Best Places to View EPCOT’s Illuminations: Reflections of Earth
- VIDEO: Holiday Storytellers - The Canadian Holiday Voyageurs - New to Holidays Around The World 2013 at Epcot in 2013 are the Canadian Holiday Voyageurs. The Canadian Holiday Voyageurs play multiple sets each day filled with Christmas songs done the Canadian way on the Mill Stage.
- Blog - EXCLUSIVE INTERVIEW with Jonathan Groff from FROZEN
- Guests at All Star Resorts will no longer receive Key to the World cards - As of 12/2/13, guests at All Star Sports Resort will no longer receive a Key to the World card. All information for the resort and parks will be on the Magic Band you receive when you check in. This will begin at All Star Music on 12/4/13 and at All Star Movies on 12/6/13. This system is already in place at Pop Century.
- VIDEO: it's a small world Holiday Full POV Ride-Through - The happiest cruise that ever sailed gets even merrier for the holidays. it's a small world, the 1964 World's Fair attraction that came to Disneyland in 1966, gets a full overlay for the holiday season including decorations and a new soundtrack!
- Atlanta Braves spring training tickets now on sale - The Atlanta Braves return to ESPN Wide World of Sports for their annual spring training. Tickets are first come/first served and the games take place at Champion Stadium.
- Blog - Give Kids the World Village and Giving Tuesday December 3, 2013
- VIDEO: Gran Fiesta Tour POV Ride-Through - Donald Duck disappears on his way to a Three Caballeros performance in Mexico City and his friends, José Carioca and Panchito Pistoles, set out to search for him.
- Blog - Brewing Now: Joffrey’s Disney Parks Collection of Coffees
- Blog - A Brit’s Perspective – Visiting the UK in Orlando
- Specialty food and drink offered for holidays at Epcot - New this holiday season, each country will be serving a specialty food and drink.
- New bus loop at Magic Kingdom open - In addition to regular single stops, there are several double stops that will accommodate two regular buses or one of the new articulated buses.
- Limited Time Magic: Donate a Duffy the Disney Bear to Toys for Tots - Visit the Once Upon a Toy store or the World of Disney store at Downtown Disney and with every $5 purchase, Disney will donate a Duffy the Disney Bear toy to Toys for Tots.
- Limited Time Magic: Jolly Year of the Ear - Celebrate the season in style with Santa Mickey and Minnie Santa ear hats - only available for a short time at the Emporium at Magic Kingdom.
- Times and dates for Epcot holiday storytellers - Each country has its own special theme that highlights its culture. Storytellers will delight you with tales of their heritage and how the holidays are celebrated in their homeland.
- VIDEO: "Let It Go" from Disney's Frozen in Celebrate the Magic - This holiday season, "Let It Go" from Disney's Frozen is featured in Celebrate the Magic, the nighttime projection show on Cinderella Castle.
- VIDEO: Disney Park Bench - Main Street Plaza - Cinderella Castle - Take 5 Minutes to Relax at Main Street Plaza - Cinderella Castle November 11, 2013 - Night
- Blog - Happy Thanksgiving from the Magic Kingdom!
- VIDEO: Disney Park Bench - Main Street U.S.A. Bridge - Main Street U.S.A. - Take 5 Minutes to Relax at Main Street U.S.A. Bridge - Main Street U.S.A., November 11, 2013 - Night
- Blog - Walt Disney World’s Magic Kingdom: Turnstile-Free!
- New holiday entertainment for the Canada pavilion at Epcot - Follow the Canadian Holiday Voyageurs on a musical tour to discover the country's holiday customs.
- Blog - Osborne Family Spectacle of Dancing Lights 101
- Royal Caribbean is offering a $200 Onboard Credit and 50% Reduced Deposit! - The offer is only available for booking on December 2, 3 and 4, 2013.
- Disney Vacation Club members offered event at Splitsville Luxury Lanes - On December 2 and 9 from 5-6:45pm, the experience will include bowling, shoe rental, a shared appetizer, an entree (or kids' meal), a signature beverage and a special DVC gift.
- Several rehabs added for early 2014 - The Magic Carpets of Aladdin, Festival of the Lion King, Kali River Rapids, and the Studio Backlot Tour have all been added to the rehab list.
- Aulani named Best for Families by Fodor's Travel - Aulani was recently named "Best for Families" by Fodor's Travel in their "Top 10 Hawaiian Resorts for 2013" list.
- Blog - Review: “Frozen”
- VIDEO: Disney Park Bench - Main Street Train Station - Main Street U.S.A. - Take 5 Minutes to Relax at Main Street Train Station - Main Street U.S.A., November 11, 2013 - Night
- Limited Time Magic: Thanksgiving Treats Available - Special treats will be available at various locations in the theme parks.
- New Year's Eve dining info for Swan and Dolphin Hotels - The restaurants of the Walt Disney World Swan and Dolphin will be offering special New Year's Eve menus.
- Walt Disney World Annual Passholders can save up to 37% at select hotels - Discount is valid for travel between 1/4/14-3/18/14, 3/14/14-3/29/14, 1/19/14-3/13/14 and 3/30/14-4/12/14.
- Blog - Why I’m excited to take my baby on a Disney Cruise!
- Limited Time Magic: Jingle Cruise poster giveaway - Celebrate the Jingle Cruise at Magic Kingdom and Disneyland Park with a complimentary mini poster while supplies last.
- Several rehabs scheduled for the Magic Kingdom - Among the closings are The Plaza Restaurant, Pinocchio Village Haus, Tomorrowland Transit Authority People Mover, Barnstormer, and the Liberty Square Riverboat.
- Blog - Disney’s Newest Animated Feature “Frozen” Flurries Into Theme Parks On Both Coasts
- The Comedy Warehouse Holiday Special to return? - Rumors are that the popular holiday version of The Comedy Warehouse will be returning to Hollywood Studios this year.
- Blog - EXCLUSIVE: Nikon becomes the Official Camera of Walt Disney World and Disneyland
- VIDEO: Mickey's Very Merry Christmas Party 2013 - What happens when you combine one 30,000 pound, 65 foot tree, one 40 foot star, 5500 twinkling lights, 430 feet of garland, 325 ornaments, 275 feet of strung popcorn, 400 flickering candles, 135 candy canes, 100 gingerbread cookies and the Disney Characters? Why, you have the perfect recipe for Christmas at the Magic Kingdom!
- Mickey’s Very Merry Christmas Party Photography - Creative photos from Mickey’s Very Merry Christmas Party
- Christmas dining options for Walt Disney World - All restaurants on property will be open as normal, but some are serving special Christmas menus.
- Thanksgiving dining options at Walt Disney World - All restaurants on property will be open as normal, but some are serving special Thanksgiving menus.
- New looks available for the holidays at Bibbidi Bobbidi Boutique - Now through 1/3/14, little girls can choose from a Frozen Package or a Holiday Minnie Package.
- Santa Claus comes to Downtown Disney - At the Marketplace, you'll find Santa Claus waiting to greet you at his chalet in front of the World of Disney store.
- VIDEO: Josh Gad - Voice of Olaf in "Frozen" - Interview - Josh Gad, the voice of Olaf in "Frozen" and "World of Color - Winter Dreams" and Tony Award nominee for "The Book of Mormon", takes a few minutes to talk about how important it was to work on a Disney film that led to a theme park experience and the music behind it all.
- All guests at Pop Century will now use MagicBands - As of 11/14/13, guests at Pop Century will no longer receive a Key to the World card. All information for the resort and parks will be on the Magic Band you receive when you check in.