Question about DRI

[geist1223]

With so many people apparently willing to pay DRI $250 to take their accounts back - How come I never see them in the "Bargain Deal" Section. I assume (we all know how assuming something is bad) that some of these accounts are old enough that they are beyond the ROFR time period.

 

[Michael1991]

A pessimist might answer this question by noting that there are so many people wanting to get ride of their points and so few wanting to collect these points, that there is no point in list them in the Bargain Deal section.

Honestly, I don't know why there aren't more listings.

Diamond points are listed in the member's FB group. Some are transferred, but I often see people saying they can't find a "buyer" after many months on the list. Diamond goes out of its way to cripple resale points. More so, I'd say, than Bluegreen, Wyndham or Worldmark.

Also, I noticed that some of surrendered ownerships identified here on TUG are people who own deeds at a Diamond managed resort, or people who own Monarch or Premiere Vacation points. These all fall under DRI's management, but they may not have full privilege in the DRI network.

 

[TUGBrian]

for most its far easier to go thru the $250 deedback option with DRI directly than try to find a buyer...espeically when the intervals have no resale value at all.

it is seemingly quite convenient the way DRI is implementing this deedback program, and likely why it is so successful for those that have essentially worthless DRI points intervals.

 

[johnrsrq]

for most its far easier to go thru the $250 deedback option with DRI directly than try to find a buyer...espeically when the intervals have no resale value at all.

it is seemingly quite convenient the way DRI is implementing this deedback program, and likely why it is so successful for those that have essentially worthless DRI points intervals.

not quite understanding the correlation. They may be worth something to someone who would/could find value. Might even be worth more than others.

It's interesting the fee of $250 is still charged by DRI to transfer an account to someone acquiring them. It definitely is less bothersome to dispose of these using that program.

 

[Kozman]

not quite understanding the correlation. They may be worth something to someone who would/could find value. Might even be worth more than others.

It's interesting the fee of $250 is still charged by DRI to transfer an account to someone acquiring them. It definitely is less bothersome to dispose of these using that program.

I deeded back two units at Williamsburg....a 4br Lockout and a 3br lockout. I immediately dropped $3000 per year maintenance fees. I wanted to get into the program while it was still available rather than wish and hope for someone to come along and 'take it off my hands'. I heard the DRI deedback may be discontinued at any time. I did it late in '15 so avoided the '16 maintenance fees. Giving it away in the TUG listing might have taken too long and required me to pay '16. Does that clear up your question?

 

[dioxide45]

I could be wrong, but perhaps the restrictions placed on resale purchases of these properties makes them worth less than -$250? I don't know if there are any such restrictions, but if someone has to pay one year of MFs, give away that years usage in order to give away a week, paying $250 to DRI to take it back is probably the cheapest alternative.

 

[geist1223]

My understanding to Deed Back to DRI MF's must be current. So now that it is past January 1, 2016 - 2016 MF's would have to be paid before the Deed Back could happen. When I look in the "For Sale" they are weeks which I do not want or the seller wants 30 cents to 65 cents per Point (which is not high if compared to what DRI asks for Points) but it is high when people are Paying DRI to take tgeir accounts back.

 

[dioxide45]

My understanding to Deed Back to DRI MF's must be current. So now that it is past January 1, 2016 - 2016 MF's would have to be paid before the Deed Back could happen. When I look in the "For Sale" they are weeks which I do not want or the seller wants 30 cents to 65 cents per Point (which is not high if compared to what DRI asks for Points) but it is high when people are Paying DRI to take tgeir accounts back.

Does DRI get 2016 usage when the deed back is done? The owner paid the 2016 MFs. So are they entitled to the usage and DRIs usage should start in 2017. Is that the case, if not, then it would seem that the value is more than just -$250.

 

[johnrsrq]

delete decision

 

[dougp26364]

for most its far easier to go thru the $250 deedback option with DRI directly than try to find a buyer...espeically when the intervals have no resale value at all.

it is seemingly quite convenient the way DRI is implementing this deedback program, and likely why it is so successful for those that have essentially worthless DRI points intervals.

I agree. We were to the point that I was beginning to look into giving our weeks away. However a fee of $250 is considerably quicker and easier than advertising, negotiating and then hoping the deal goes thru and the buyer doesn't back out or the resort refuse to transfer the deed because they don't like the new owner. It's a slam dunk giving it back.

 

[Bill4728]

for most its far easier to go thru the $250 deedback option with DRI directly than try to find a buyer...espeically when the intervals have no resale value at all.

it is seemingly quite convenient the way DRI is implementing this deedback program, and likely why it is so successful for those that have essentially worthless DRI points intervals.

I agree. We were to the point that I was beginning to look into giving our weeks away. However a fee of $250 is considerably quicker and easier than advertising, negotiating and then hoping the deal goes thru and the buyer doesn't back out or the resort refuse to transfer the deed because they don't like the new owner. It's a slam dunk giving it back.

In addition to all these reasons, DRI makes giving away your TS hard to do. When you transfer ownership of a DRI "point" TS (vs week based TS) DRI takes all the pts from the current year and keeps them for themselves.

So in the case of one owner who gets their pts ever 24 months. Since their ownership year had just begun, If they gave the TS to someone other than DRI, that new owner would owe for 24 months of MFs and get no pts till next ownership year started in 2 years!