Anyone made it through (or not made it through) ROFR recently? - Section V

[brhalstea]

Contract agreed on yesterday.

175 SSR (feb) $55. All 12, 13, and 14 pts. Buyer pays closing. Seller pays 2013 MF.

 

[kkolbusz1]

We were ROFRd.

55 OKW (Sept) $65 55 banked '10, all '12 & '13, buyer pays maintenance and administrative fee, buyer and seller split closing (ROFR 4/11)

are they back to rofr'ing again? what happened to all that good news we were getting. so sorry

 

[kenspidey]

Just received the email that Disney ROFR'D our BWV. June UY, 150pts. $65 per pt. 114 2013 pts and all pts forward. Buyer Pays all closing costs and maint. fees on the 114 pts for 2013.

Timeline:

3/20 -Made offer
Offer Accepted
Contract Signed & Deposit Sent

3/21 -Sent to Disney for ROFR

4/11 - Notified that Disney Stepped in as buyer

Back To The Drawing Board!

Disney sure is gobbling up those BWV .... Sorry

 

[saintstickets]

I don't know if this is a trend, just my luck or a result of the increased direct-buy prices....I have now had two BCV contracts I inquired about (one about a month ago and one last week at two different resellers) that sold for higher than the listed price. I saw the contract and called immediately and was told that several people expressed interest. I gave the reseller a price and in both cases, over the next few hours, they called/texted back the counter offer from the other potential buyers. In both cases, once the price got above the initial listed price, I backed out. I understand the reseller trying to get the highest price possible for the seller but something just didn't pass the smell test to me. Call me stubborn or stupid or maybe it was the principal of the matter. What do you DVCers think? Should I be suspicious or is it just a sign of the times?

 

[kenspidey]

That's awesome.... Great contract ...

 

[NoleFan]

I don't know if this is a trend, just my luck or a result of the increased direct-buy prices....I have now had two BCV contracts I inquired about (one about a month ago and one last week at two different resellers) that sold for higher than the listed price. I saw the contract and called immediately and was told that several people expressed interest. I gave the reseller a price and in both cases, over the next few hours, they called/texted back the counter offer from the other potential buyers. In both cases, once the price got above the initial listed price, I backed out. I understand the reseller trying to get the highest price possible for the seller but something just didn't pass the smell test to me. Call me stubborn or stupid or maybe it was the principal of the matter. What do you DVCers think? Should I be suspicious or is it just a sign of the times?

Had that experience with 1 resale company who will not get any business from me. Seems kind of unethical.

 

[silmarg]

I don't know if this is a trend, just my luck or a result of the increased direct-buy prices....I have now had two BCV contracts I inquired about (one about a month ago and one last week at two different resellers) that sold for higher than the listed price. I saw the contract and called immediately and was told that several people expressed interest. I gave the reseller a price and in both cases, over the next few hours, they called/texted back the counter offer from the other potential buyers. In both cases, once the price got above the initial listed price, I backed out. I understand the reseller trying to get the highest price possible for the seller but something just didn't pass the smell test to me. Call me stubborn or stupid or maybe it was the principal of the matter. What do you DVCers think? Should I be suspicious or is it just a sign of the times?

Hey Bill! U buying AGAIN! Lol.

Sounds a bit smarmy to me. Stand your ground and be patient. Disney's pockets are only so deep. They won't keep buying back forever and u will find another contract that fits like Drew Brees in a Saints uniform. WHO DAT!

 

[bkny]

I don't know if this is a trend, just my luck or a result of the increased direct-buy prices....I have now had two BCV contracts I inquired about (one about a month ago and one last week at two different resellers) that sold for higher than the listed price. I saw the contract and called immediately and was told that several people expressed interest. I gave the reseller a price and in both cases, over the next few hours, they called/texted back the counter offer from the other potential buyers. In both cases, once the price got above the initial listed price, I backed out. I understand the reseller trying to get the highest price possible for the seller but something just didn't pass the smell test to me. Call me stubborn or stupid or maybe it was the principal of the matter. What do you DVCers think? Should I be suspicious or is it just a sign of the times?

What was the size and ask price on the bcv contracts.

 

[Rmgdisney]

Just received the email that Disney ROFR'D our BWV. June UY, 150pts. $65 per pt. 114 2013 pts and all pts forward. Buyer Pays all closing costs and maint. fees on the 114 pts for 2013.

Timeline:

3/20 -Made offer
Offer Accepted
Contract Signed & Deposit Sent

3/21 -Sent to Disney for ROFR

4/11 - Notified that Disney Stepped in as buyer

Back To The Drawing Board!

So sorry to hear that. Same thing happened to us last month on an OKW contract. We decided to try again with SSR, should find out soon since ours went to ROFR also on the 21st. Hope you have better luck on your next contract. You just never know when Disney decides to exercise ROFR.

 

[Rmgdisney]

We were ROFRd.

55 OKW (Sept) $65 55 banked '10, all '12 & '13, buyer pays maintenance and administrative fee, buyer and seller split closing (ROFR 4/11)

So sorry to hear that.

 

[Sandisw]

I don't know if this is a trend, just my luck or a result of the increased direct-buy prices....I have now had two BCV contracts I inquired about (one about a month ago and one last week at two different resellers) that sold for higher than the listed price. I saw the contract and called immediately and was told that several people expressed interest. I gave the reseller a price and in both cases, over the next few hours, they called/texted back the counter offer from the other potential buyers. In both cases, once the price got above the initial listed price, I backed out. I understand the reseller trying to get the highest price possible for the seller but something just didn't pass the smell test to me. Call me stubborn or stupid or maybe it was the principal of the matter. What do you DVCers think? Should I be suspicious or is it just a sign of the times?

A few months ago, I would have said that it was unusual but given the stuff going on with resale, number of people who are on waiting lists for BCV via direct, I can believe that there possible was a bidding war for those contracts.

Just look at the websites--they are getting pretty bare for some of the resorts and in the last 4 years since I have been looking at those sites, I never remember so limited availability.

 

[cm8]

Congrats to all who were recently waived through. I'm so sorry Mommy2TwoMickeys and 77Kool, that both of you were ROFR'ed Good luck on your next try

I'm going to post my timeline soon, but I closed on my contract yesterday just waiting for Disney to load my points

 

[ELMC]

Contract sent to Disney today.

150 BWV, $78/pt, Dec UY, all 2011, 2012, 2013 points, buyer pays MF and closing costs.

Now we wait.

I will be watching this contract. Will it set a new record for ROFR? Will it set the new price level for BWV? Very interesting.

 

[ELMC]

I don't know if this is a trend, just my luck or a result of the increased direct-buy prices....I have now had two BCV contracts I inquired about (one about a month ago and one last week at two different resellers) that sold for higher than the listed price. I saw the contract and called immediately and was told that several people expressed interest. I gave the reseller a price and in both cases, over the next few hours, they called/texted back the counter offer from the other potential buyers. In both cases, once the price got above the initial listed price, I backed out. I understand the reseller trying to get the highest price possible for the seller but something just didn't pass the smell test to me. Call me stubborn or stupid or maybe it was the principal of the matter. What do you DVCers think? Should I be suspicious or is it just a sign of the times?

A few months ago, I would have said that it was unusual but given the stuff going on with resale, number of people who are on waiting lists for BCV via direct, I can believe that there possible was a bidding war for those contracts.

Just look at the websites--they are getting pretty bare for some of the resorts and in the last 4 years since I have been looking at those sites, I never remember so limited availability.

I agree with Sandi in so much as I wouldn't be crying foul per se, and I do think it is a sign of the times. But I will also say that it reflects poorly on the listing broker for a few reasons. First off, they should be more aware of the market and should be advising sellers to list for more reasonable prices. The second reason is that it is a bit of a deviation from their typical way of doing business. They are not like real estate agents who are obligated to get the best deal for their clients. They are required by law to present all offers, but they really have no obligation to entertain a bidding war. In the past a full priced offer meant the contract was sold. I'm not sure I'm comfortable with this new way of doing business. I'm definitely not comfortable with a broker provoking a bidding war by openly sharing all the active bids on a contract with the bidders.

That being said, given that I'm not an attorney I can't say that the brokers are in violation of any laws or rules. I'm simply saying that it is a pretty significant change that I'm not very comfortable with.

 

[NoleFan]

I agree with Sandi in so much as I wouldn't be crying foul per se, and I do think it is a sign of the times. But I will also say that it reflects poorly on the listing broker for a few reasons. First off, they should be more aware of the market and should be advising sellers to list for more reasonable prices. The second reason is that it is a bit of a deviation from their typical way of doing business. They are not like real estate agents who are obligated to get the best deal for their clients. They are required by law to present all offers, but they really have no obligation to entertain a bidding war. In the past a full priced offer meant the contract was sold. I'm not sure I'm comfortable with this new way of doing business. I'm definitely not comfortable with a broker provoking a bidding war by openly sharing all the active bids on a contract with the bidders.

That being said, given that I'm not an attorney I can't say that the brokers are in violation of any laws or rules. I'm simply saying that it is a pretty significant change that I'm not very comfortable with.

If a broker says, they have a full price offer & asks if you want to increase your offer seems to provoke bidding wars. It also does not seem fair to the person who submitted the full price offer. Just doesn't seem like a good way to do business. A few extra bucks commission but loss of credibility.

 

[dbs1228]

If a broker says, they have a full price offer & asks if you want to increase your offer seems to provoke bidding wars. It also does not seem fair to the person who submitted the full price offer. Just doesn't seem like a good way to do business. A few extra bucks commission but loss of credibility.

I truly wonder what is going on.

I have made 2 full price offers with Fidelity over the past 6 weeks the first was "congratulations we will notify the buyers" but they seemed surprised I offered full price (55.00PP BWV) then the second was for 60.00PP again full price offer and I was told again "congratulations' but then the sellers decided they did not ask enough, were not informed, did not understand and so on and came back at 70.00PP - we walked away and I found out after the fact they got a new buyer with an offer a bit higher then 70.00. The 3rd contract was listed for 72.00PP we offered 65.00 and the sellers were contacted immediately agreed again done deal and that was last week. I have been told by the TSS that if someone offers full price its a done deal (I was a seller).
Strange that this is happening unless they are getting e-mails, and phone calls within minutes of listings being posted - now that would not surprise me!

 

[cz4ever]

150 OKW (Apr) $61/pt 150-2013, 150-2014 buyer paid 2013 maint fees and closing costs
3/3 - offer made at asking and accepted
3/5 - we signed the contract
3/7 - seller signed and contracted went to ROFR
4/3 - we passed rofr!!!!!
4/5 - received a call from broker, wait for it, her words exactly, "are you sitting down, we just received word that the contract that passed was the extended one!!!"

We thought we bid on OKW 2042, but it was the extended one. Sooooo happyyy!!!!

Congrats it closing, and on the extra little (awesome) present at the end!

 

[tb1972]

We were ROFRd.

55 OKW (Sept) $65 55 banked '10, all '12 & '13, buyer pays maintenance and administrative fee, buyer and seller split closing (ROFR 4/11)

Sorry to hear that. Our contract just went to Disney today. It is similar to yours - 40 OKW Dec. @ $70 ppt.

 

[ytsyts]

Am I supposed to be NOT surprised by the listing prices drop overnight for BWV and WL on Fidelity?

Looks strange to me...

 

[disfanforlife]

Am I supposed to be NOT surprised by the listing prices drop overnight for BWV and WL on Fidelity?

Looks strange to me...

That is weird. I just looked and I don't understand it. 150 BWV listed at $55???