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

[NoleFan]

The MFs were paid by the sellers. That was part of their offer. It seemed reasonable to me because I was getting the contract so late in the year with just a low percentage of that year's points, so I was happy to agree with that offer.

I guess next time, if I find a similar offer I like, I'll offer to pay the MFs even if they are offering just to further minimize my ROFR risk.

Sorry to hear you lost your contract to the mouse! How far into ROFR were you when they took it ? Hope you find something else soon so you can start enjoying some points- good luck in your search!

 

[lovin'fl]

Ugh! THat makes me really nervous for my contract I'm waiting to hear about, 300 BCV $75pp submitted 5/7. The kicker for me is I have also been on the direct wait list for 180 points BCV since Feb and my guide "guaranteed" it would only take 6-8 weeks for a contract. Fast forward almost 4 months and not a word. I'm also peeved because I told my guide to call me when VGF was available for purchase because that was my original plan B if BCV didn't work out and she has yet to call me. I guesse she's not to eager for a sale.

I have never tried so hard to spend money.

I was on WL for HHI points back in January. I went off WL when we found a 100 point AKV contract that we wanted. When I called my guide, I told her that we wanted off the WL and she kinda tried to salespitch me about staying on it and I told her we decided we didn't want HHI points and that we wanted to add on at an Epcot area resort. She told me the pricing for BCV and BWV and even looked at the WL and I said we were about to head to WDW (1/25) and stay at BCV for the 1st time and would decide after the trip. This was not really why we were cancelling the WL...we just didn't want her to know we were buying a resale (didn't want it to get ROFRd on us). I am interested in a BCV or BWV add on but not likely anytime soon. I thought she would call us after our trip and she never did. Anyway....good luck with ROFR...hope you hear soon.

 

[Nabas]

The MFs were paid by the sellers. That was part of their offer. It seemed reasonable to me because I was getting the contract so late in the year with just a low percentage of that year's points, so I was happy to agree with that offer.

I guess next time, if I find a similar offer I like, I'll offer to pay the MFs even if they are offering just to further minimize my ROFR risk.

I think you offer was good. I can't fathom paying MF on 2013 points when the seller has used a good portion of them anyway, especially when you offered $77/point on a 200-point contract which, a month ago, was a reasonable offer for BCV. That's just one of the reasons so many of us are blown away by Disney ROFR'ing this one.

The only thing I can think of is UY. February is the first UY of the year. Maybe it's in high demand?

I assume this was through TSS. There were a number of BCV with Feb UY purchased in the last month but nearly all were stripped contracts. If you can believe it, yours was probably the least stripped contract with a Feb UY. Some had essentially no points for 2013 and 2014!

 

[Pbuttadad]

Wow! This really makes me uncomfortable about my bwv that I should be hearing back by next week. Bummer.

 

[danana]

I hate to always compare these situations to myself, but it's hard not to. I'm 50/50 whether I will pass next week also. 125 points, split into 2 contracts (100 and 25) VWL, Dec use year, $79pp, buyer pays closing, seller and buyer split 2013 MF's. Aug closing, all points coming Dec on.

My broker said to expect to hear Mon or Tues. but the anticipation is killing me. Especially with these RANDOM ROFR's

Sent from my iPhone using DISBoards

We're also expecting to hear about our BLT contract that was submitted on 5/6, next Monday or Tuesday. Hearing this particular ROFR story is just a bit unsettling to say the least.

Oh well, if it does happen to get ROFR'd early next week, we'll be at Disneyland/VGC and that will help soften the blow.

 

[fmer55]

We're also expecting to hear about our BLT contract that was submitted on 5/6, next Monday or Tuesday. Hearing this particular ROFR story is just a bit unsettling to say the least.

Oh well, if it does happen to get ROFR'd early next week, we'll be at Disneyland/VGC and that will help soften the blow.

If it makes you feel any better I passed ROFR at BLT 2 weeks ago on an almost identical contract, $80pp.

 

[agie65]

Just got ROFR'ed by Disney and had to vent about it. I'm really shocked they did this on this one.

It was for 200 points at BCV, Feb UY, at $77/point. There were about 80 points left from the 2013 UY and then full after that. To me, the kicker that made me think they wouldn't want it is the closing was to be delayed until 12/5. I just didn't think they would want a contract that had to be held that long until they closed on it, not to mention that the price was more than others have been reporting them buying back. Argh! Curious if other people have lost contracts to Disney that had such a prolonged closing date on them.

Wow, like everybody else, I am in disbelief that this happens to you. This blows the philosophy of stripped and delayed closing may pass ROFR concept. Only thing can make sense is use year, may be in high demand. Yes they can cancel any reservation after ROFR, as I understood from some other post and may close before 12/5.

 

[agie65]

I hope you get your closing docs today!

And I got it today, exactly two weeks after it was at closing agent, yikes.

 

[Kidanifan08]

The MFs were paid by the sellers. That was part of their offer. It seemed reasonable to me because I was getting the contract so late in the year with just a low percentage of that year's points, so I was happy to agree with that offer.

I guess next time, if I find a similar offer I like, I'll offer to pay the MFs even if they are offering just to further minimize my ROFR risk.

I don't think I would pay MF's on points that I am not going to get. That just seems unfair. I really doubt that this played a role in not getting this contract.

Yeah I think the maintenance fees come into play but wow I'm surprised too!

Current year MF's are such a small part of the overall cost of buying back a contract this size, I just don't think this is a major player in the decision to ROFR, but who knows?

I think you offer was good. I can't fathom paying MF on 2013 points when the seller has used a good portion of them anyway, especially when you offered $77/point on a 200-point contract which, a month ago, was a reasonable offer for BCV. That's just one of the reasons so many of us are blown away by Disney ROFR'ing this one.

The only thing I can think of is UY. February is the first UY of the year. Maybe it's in high demand?

I suspect this is the main reason this contract did not pass. I bet they have a decent amount of Feb UY people on the WL, and this was a decent grab. It has full 2014 points, which is just 2 months after the closing date. They are probably fairly confident that the waitlist will be strong 9 months from now. I suspect they can magically bank the 80 points from the 2013 UY into 2014 and sell those as well.

My condolences to gatechfan99. The recent BWV activity is part of the reason I decided to just add more points to my AKV holdings right now, instead of going for my first BWV contract. Keep trying, and good luck!

 

[Firepath]

Just got ROFR'ed by Disney and had to vent about it. I'm really shocked they did this on this one.

It was for 200 points at BCV, Feb UY, at $77/point. There were about 80 points left from the 2013 UY and then full after that. To me, the kicker that made me think they wouldn't want it is the closing was to be delayed until 12/5. I just didn't think they would want a contract that had to be held that long until they closed on it, not to mention that the price was more than others have been reporting them buying back. Argh! Curious if other people have lost contracts to Disney that had such a prolonged closing date on them.

I'm so sorry Gatechfan99! I think they are just doing this to mess with us. If they can get more people nervous about ROFR, maybe they'll decide it's not worth the stress of resale and switch over to buying direct. Don't get discouraged, hopefully you'll find an even better contract and it passes quickly.

 

[dvc lover 1970]

Wow, I can't believe they took that BCV contract from you. I bought BCV resale about 3-4 years ago and paid top dollar for it. At the time, BWV were around 55-65 per point in contrast to BCV 80-90 per point. At the time, I opted for BC because we had never stayed at the BW and the reviews had stated BW needed a face lift. WE stayed at BWV last year. WOW! I actually like BWV better than BCV even though that is my home resort. I was going to add on BWV last year , but figured I would wait for prices to go down more. oh well...the prices have been steadily going up. Sorry to get off topic, but I am amazed that they took the contract from you. Maybe it depends on which mouse is reviewing our RORF contract.

 

[dbs1228]

I don't think I would pay MF's on points that I am not going to get. That just seems unfair. I really doubt that this played a role in not getting this contract.



Current year MF's are such a small part of the overall cost of buying back a contract this size, I just don't think this is a major player in the decision to ROFR, but who knows?



I suspect this is the main reason this contract did not pass. I bet they have a decent amount of Feb UY people on the WL, and this was a decent grab. It has full 2014 points, which is just 2 months after the closing date. They are probably fairly confident that the waitlist will be strong 9 months from now. I suspect they can magically bank the 80 points from the 2013 UY into 2014 and sell those as well.

I do agree with this Disney does not have to pay for the contract until mid Dec and then about 6 weeks later the points are there and they can sell the contract or break it into smaller contracts - quick turn over. Bet people on the WL are thinking next year to get their points!

 

[jpfiff]

We made a low offer on a contract at SSR. Mentioned that reading these boards it seems like the prices that are above $60pp are loaded with points. The agent from the TSS replied with this:

"Since April 1st, we have sold 86 Saratoga Springs contracts. Most Saratoga listings are currently selling at $65 to $72 per point depending on the status of the points. Of the 86 Saratoga listings sold since 4/1/13, only 4 contracts were sold below $60 per point. 3 sold at $59 per point and 1 sold at $53 per point."

I'm not as hopeful now that we will find an affordable option with the amt of points we would like :/

 

[jendujka]

We made a low offer on a contract at SSR. Mentioned that reading these boards it seems like the prices that are above $60pp are loaded with points. The agent from the TSS replied with this:

"Since April 1st, we have sold 86 Saratoga Springs contracts. Most Saratoga listings are currently selling at $65 to $72 per point depending on the status of the points. Of the 86 Saratoga listings sold since 4/1/13, only 4 contracts were sold below $60 per point. 3 sold at $59 per point and 1 sold at $53 per point."

I'm not as hopeful now that we will find an affordable option with the amt of points we would like :/

I received a similar e-mail from TSS that I wouldn't be able to get the price that I wanted either so I went with Fidelity.... and I paid LESS than the max that I was trying to offer at TSS. It seems like the process at Fidelity takes longer, but they were willing to work with me on the offers that I wanted to put in and didn't disparage me for making those offers.

We just passed SSR - $55 - 150 points - Oct with 53 points coming 2013 and all points 2014 and forward.

I say just keep offering. TSS sent me an e-mail that I wouldn't be able to get AKV for less than $75 per point when I put in an offer lower than that, but I had negotiated a contract down to $63 per point with Fidelity (with the sellers originally asking $80 -- but then they kept coming back with minimal counter-offers for $200 here and there for other costs. We would have taken it if not for their last counter on not wanting to split MFs even though all 2013 points weren't available). Keep at it and use the information here as your guide.

Most contracts might be selling higher with them, but the saavy buyers here know that they can get a better deal. It's all up to how much you want to spend and your timeframe. Why can't you be one of the few people buying below $60 per point?

 

[Countryrunner262]

I received a similar e-mail from TSS that I wouldn't be able to get the price that I wanted either so I went with Fidelity.... and I paid LESS than the max that I was trying to offer at TSS. It seems like the process at Fidelity takes longer, but they were willing to work with me on the offers that I wanted to put in and didn't disparage me for making those offers.

We just passed SSR - $55 - 150 points - Oct with 53 points coming 2013 and all points 2014 and forward.

I say just keep offering. TSS sent me an e-mail that I wouldn't be able to get AKV for less than $75 per point when I put in an offer lower than that, but I had negotiated a contract down to $63 per point with Fidelity (with the sellers originally asking $80 -- but then they kept coming back with minimal counter-offers for $200 here and there for other costs. We would have taken it if not for their last counter on not wanting to split MFs even though all 2013 points weren't available). Keep at it and use the information here as your guide.

Most contracts might be selling higher with them, but the saavy buyers here know that they can get a better deal. It's all up to how much you want to spend and your timeframe. Why can't you be one of the few people buying below $60 per point?

I have noticed even on Fidelity's site, their listing prices within the last few weeks have went way up! There are SSR listings starting at 130 per point! That is crazy! Even with a lot of negotiating, you are not going to get prices down that much! You can buy direct at SSR for $125 per point. We went with TSS and are paying $69 per point for 150 points. That's a $56 per point difference from direct. To me, that's a deal. Now, just waiting to see if it passes.

 

[jpfiff]

yes, some of the fidelity listing prices are outrageous!

 

[jendujka]

I have noticed even on Fidelity's site, their listing prices within the last few weeks have went way up! There are SSR listings starting at 130 per point! That is crazy! Even with a lot of negotiating, you are not going to get prices down that much! You can buy direct at SSR for $125 per point. We went with TSS and are paying $69 per point for 150 points. That's a $56 per point difference from direct. To me, that's a deal. Now, just waiting to see if it passes.

I totally agree with you that many of the listings are outrageously high, but several of them are more realistic as well. I wouldn't even bother with the people asking $130 per point. They are probably financed the point where they couldn't take anything lower. But there are many contracts that are listed much lower as well... that's how we decided to make offers. I'm thrilled with $55 per point purchase at SSR!

 

[moreisgood]

Sorry this is late...

Using all the patience I could muster, these contracts went through with Fidelity. I wanted all June UY for all, so that limited me somewhat.

BLT 200 points pd $88 plus half MF and Buyer's closing costs, 2013 - 141 points, all points forward,
seller accepted 4/12, I sent the contract back in 10 minutes, went to ROFR on 4/26 (YIKES!) got word ROFR passed on 5/24 (I think it really passed on 5/22). I was told to expect closing papers to sign, by June 10th.
Also, it took 2 days to get a reply from the seller after I made the initial offer and the listing stayed on the website for weeks.

And then,
AKV 160 points pd $69 plus all MF and Buyer's closing costs, 2013 - 272 points, all points forward,
seller accepted 4/19, I sent the contract back in 10 minutes, went to ROFR on 5/3 (YIKES! but getting used to it) got word ROFR passed on 5/29 (I think it really passed on 5/27). I was told to expect closing papers to sign, by June 12th.
On this one, it took 4 days to get a reply from the seller after I made the initial offer, and again, the listing stayed on the website for weeks.

And finally, at TSS, with lightening speed (after all, it's all about what you are used to)
BWV 150 points pd $73 plus 1 point MF and Buyer's closing costs, 2013 - 1 points, all points forward,
seller accepted same day 5/17, listing was immediately removed from the website, went to ROFR on 5/18 (WOW! and a Saturday) waiting for ROFR now - should be before 6/18, if the mouse isn't too hungry.

I was a little worried about the BLT contract, not worried at all about AKV, and extremely worried about BWV (but, that's also what is keeping my husband calm during my shopping spree - we probably won't get it.)

So, far, I've had extremely different experiences. If you want a bigger selection, and possibly a lower price (not always), you'll pay the price with timing and your time.

I'm predicting that if I do get the BWV contract, these will all settle in a 7-10 period, even though the first one started 4/10 and the last started 5/17.

Also, I tried to consider a listing with the company with the LONG name, I think it's who we can't mention, but they have crazy high closing costs (title) and require a lot of $ as a deposit, and when I asked if I could choose my title company (which I believe is my legal right), they stopped answering my inquiries. It made me very uncomfortable.

 

[Countryrunner262]

I totally agree with you that many of the listings are outrageously high, but several of them are more realistic as well. I wouldn't even bother with the people asking $130 per point. They are probably financed the point where they couldn't take anything lower. But there are many contracts that are listed much lower as well... that's how we decided to make offers. I'm thrilled with $55 per point purchase at SSR!

I would be happy with the deal you got as well! That is a great price! This is our first time purchasing. We were originally going to buy direct. I happened to Google search DVC and stumbled upon this site. That is how I learned about resale. I am so glad I did. So compared to direct prices, we are happy with our offer. Yes, we could have possibly got it down some, but that was our rookie mistake by not negotiating. At least it's still a savings.

 

[jendujka]

I would be happy with the deal you got as well! That is a great price! This is our first time purchasing. We were originally going to buy direct. I happened to Google search DVC and stumbled upon this site. That is how I learned about resale. I am so glad I did. So compared to direct prices, we are happy with our offer. Yes, we could have possibly got it down some, but that was our rookie mistake by not negotiating. At least it's still a savings.

I wonder how many people don't negotiate. I don't know what I would have done without this thread and the wonderful folks contributing! I've been stalking it for about a year now since this is our first contract so I had an idea of the number of points we wanted and we didn't want to buy until we had all of the funds saved. Though AKV was our first choice, I just couldn't pass up more points for less money with SSR. Maybe we'll add on someday at AKV (or Aulani!) This is addicting!