DVC Resale Contract Language

[RosaD]

Hi! We just made an offer on a resale DVC contract for Boardwalk, and it was accepted. The contract from Fidelity names Boardwalk specifically as the “Resort.” It also included language on what was NOT included (Adventures Collection, Concierge Collection, or Disney Collection), but it doesn’t specifically say what IS included (14 resorts). This is my first timeshare, and the rep at Fidelity said this kind of language is standard…but is it? TIA!

 

[pianomanzano]

That language is standard.

Since you're dealing with Fidelity and this is your first resale contract, I'd be sure to read everything carefully, including the amount of points, if there's a delayed close, and the UY is correct during every step of this process. There's been many reports of incorrect information that Fidelity is not catching that have delayed transfer post-ROFR and even after closing when funds have been transferred. You can do a search of these boards for those examples.

 

[RoseGold]

Technically, the contract lists the governing documents for the exchange. It would be possible, for example, for BLT to completely remove itself from the entire exchange and only take home points. Or, Hilton Head could get destroyed in the hurricane. Or, Vero Beach could be sold. Or, all the resorts could be closed in a pandemic. All of those things would be permissible under the rules.

The governing documents are more complicated that just a list of the O14. But yea, the contract is standard. No problem.

Read the parts that aren't standard carefully, like the point details, names, money, dates, etc.

 

[MICKIMINI]

I agree with OP's and make sure you confirm the UY and if OKW the expiration date (2042 or 2057). Closing date is important, especially if it is a delayed closing. If you are getting banked points from the seller and they are paying MF's confirm that. I had to fight for a year's points paid by the seller and ended up getting reimbursed by check from the title company for about $600.

I have found typos on several contracts. I always have a screen shot of the *listing*. If anything turns out to be different you have the details. An email chain is a beautiful thing...

Good luck!

 

[Sandisw]

The ROFR letter that comes will also detail things out for you and does explain the resale points can only be used to trade with 14 DVC resorts.