Anyone looking to buy a dvc? I found this

[glitzybabes]

I guess it was seized by the IRS??

http://www.treasury.gov/auctions/treasury/rp/disneyclub.shtml

 

[OrangeCountyCommuter]

If you bid and are accepted you still go to ROFR and at the current starting bid Disney would snatch it up.

 

[ssawka]

If you bid and are accepted you still go to ROFR and at the current starting bid Disney would snatch it up.

Agreed! I would also worry that the the auction company would not know how DVC works aor that the contract would need to be submitted for ROFR.

 

[starry_solo]

The flyer says that Disney has 30-days ROFR so I'm guessing they probably do know (or go through a reputable timeshare company) to do the paperwork.

 

[pyrxtc]

so sad they lost their DVC.

 

[tvguy]

Well, since the contract is between DVC and the bankrupt person, I suspect those provisions are null and void. The court pretty much can order DVC to do whatever they need them to do. But I suspect if DVC hears about it, they will make sure they buy it back.

 

[Gracie09]

so sad they lost their DVC.

Not really. You don't know how they became bankrupt although if money was tight and I needed to raise it, you bet your sweet bippy a dvc contract would be sold to pay some bills. I suspect since it want these were people who did not live within their means

 

[CluelessDisFan]

Yeah, I definitely don't feel bad for the person who lost it. They definitely had it seized for a reason.

 

[ssawka]

Yeah, I definitely don't feel bad for the person who lost it. They definitely had it seized for a reason.

Yes, however it may be something beyond their control, like a health issue. Yes, they should have sold it if they were having difficulty, but it could be that the difficulty came on suddenly and unexpectedly. It may be effecting all of their assets and not just the DVC contract. I do not understand why when a person is having financial difficulty that everyone else assumes the person is a dead beat.

 

[pocomom]

Yes, however it may be something beyond their control, like a health issue. Yes, they should have sold it if they were having difficulty, but it could be that the difficulty came on suddenly and unexpectedly. It may be effecting all of their assets and not just the DVC contract. I do not understand why when a person is having financial difficulty that everyone else assumes the person is a dead beat.

Agreed, Don't know much about DVC as property, but a lot of property around here that goes up for auction, is because the owner actually died.

 

[crisi]

Yes, however it may be something beyond their control, like a health issue. Yes, they should have sold it if they were having difficulty, but it could be that the difficulty came on suddenly and unexpectedly. It may be effecting all of their assets and not just the DVC contract. I do not understand why when a person is having financial difficulty that everyone else assumes the person is a dead beat.

By the time you get to seizure of assets by the IRS, you aren't talking about someone who fell on hard times, you are talking about tax fraud. This isn't a bankruptcy sale, this is a tax seizure - they were doing something illegal with their taxes to get this far.

(A treasury auction could also be the ATF - gun runners, sometimes drug dealers. But you don't get to a treasury auction through mere hard times).

 

[Gracie09]

Yes, however it may be something beyond their control, like a health issue. Yes, they should have sold it if they were having difficulty, but it could be that the difficulty came on suddenly and unexpectedly. It may be effecting all of their assets and not just the DVC contract. I do not understand why when a person is having financial difficulty that everyone else assumes the person is a dead beat.

If I was having financial difficulties whether because of health, list job or whatever, the first thing I sell is my dvc. It costs every year even if I don't use it and if I can conservatively get 10k for it that's money for treatment, food whatever. Most people who are truly desperate would not be holding onto an asset thus large.

 

[ssawka]

If I was having financial difficulties whether because of health, list job or whatever, the first thing I sell is my dvc. It costs every year even if I don't use it and if I can conservatively get 10k for it that's money for treatment, food whatever. Most people who are truly desperate would not be holding onto an asset thus large.

Agreed, but my point was that if something happens unexpectedly you may not be able to pick and choose what you wish to sell. Or, as pocomom stated, the person could be deceased and the family (if there is one) may still be sorting through the paperwork. The truth is that we have no idea what the circumstance are, but yet we assume the worst of people when it comes to finances.

 

[Green Tea]

Don't feel sorry for these people.....they didn't pay their taxes. Tax fraud. Whatever.

 

[Green Tea]

Agreed, but my point was that if something happens unexpectedly you may not be able to pick and choose what you wish to sell. Or, as pocomom stated, the person could be deceased and the family (if there is one) may still be sorting through the paperwork. The truth is that we have no idea what the circumstance are, but yet we assume the worst of people when it comes to finances.

If the IRS is seizing your assets , I think that's pretty much the worst people. This would not be a case of medical costs overtaking a family who was doing all they could to help themselves.

 

[carra]

Don't feel sorry for these people.....they didn't pay their taxes. Tax fraud. Whatever.

Agreed.

 

[csharpwv]

If it were a bank auction, they would have fallen on hard times.

If they hadn't made payments, and it was financed through DVC.... it wouldn't be a treasury auction.

Treasury auctions aren't for the expenses larger than assets situations.

There has to have been law(s) of some variety broken to have ended up in a treasury auction!

 

[csharpwv]

Plus, I can't imagine going through all the trouble of a government auction to get a great price per point.... only to have DVC ROFR the contract and have wasted a ton of time, and likely some money...getting a cashier's check, having it sent certified, and then to get the check back...

Sounds like a headache!

Plus, my DW would KILL me even if I suggested buying more points.... although we would love to own points at OKW...

However, all of the points we own were bought direct or before the resale changes took place.

 

[motherof5]

I can't even see it. I was curious to get the information.

 

[firefly_ris]

I can't even see it. I was curious to get the information.

Check the date of the first post; almost 5 years ago. Link is surely dead/irrelevant now.