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

[Breyean]

Originally Posted by luv2sleep

I'd like to buy about 130 points in a June UY at VGC. I'm pretty sure ill buy direct but still wonder about resale. How common is it for them to exercise their rights on VGC resales? Is it common? Or was your experience more unlucky than most?

I think a lot depends on what UYs they have people waiting the longest for on their wait list.

My two were ROFR'd at the same time another poster had hers also bought back at VGC, so it seemed to us they were aggressively buying them back. But that was a little ove a year ago, and maybe things have changed.

I do know Sharon at Fidelity told me they just had a VGC pass last week at $89/point. So maybe mine will be OK.

I wound up buying direct after the two ROFRs, so this w/b the difference for us of a 1 bedroom vs a studio

[goofy farmer]

Originally Posted by Breyean

I think a lot depends on what UYs they have people waiting the longest for on their wait list.

My two were ROFR'd at the same time another poster had hers also bought back at VGC, so it seemed to us they were aggressively buying them back. But that was a little ove a year ago, and maybe things have changed.

I do know Sharon at Fidelity told me they just had a VGC pass last week at $89/point. So maybe mine will be OK.

I wound up buying direct after the two ROFRs, so this w/b the difference for us of a 1 bedroom vs a studio

Good Luck
My first points were resale at VGC, but now I am trying to add a few more points direct. Been waiting only a month and it is for Dec use year.

[Breyean]

As I posted earlier today, I was SO excited to finally get a VGC resale contract that met our needs.

But I just found out that Fidelity has started charging a $195 "Admin Fee" as of 1/1/13. To the buyer.

Since it's only a 125 point contract, that adds another $1.50/point to the cost. Not a big deal, but I was surprised because in the past when I bought from Fidelity there was no such fee.

Left me with less of the great feeling I had this morning. It's like those "convenience fees" ticket brokers charge for the privilege of buying from them.

I wonder if the other brokers have started charging this fee as well?

[dvcterry]

Originally Posted by Breyean

As I posted earlier today, I was SO excited to finally get a VGC resale contract that met our needs.

But I just found out that Fidelity has started charging a $195 "Processing Fee" as of 1/1/13. To the buyer.

Left me with less of the great feeling I had this morning. It's like those "convenience fees" ticket brokers charge for the privilege of buying from them.

I wonder if the other brokers have started charging this fee as well?

Congratulations on finding a VGC. I was not happy to find out about the $195 processing fee. It adds up on those smaller contracts-closing costs + $195 and the fact that the smaller point contracts go for more per point. Very disappointed.

[sara mom]

If Fidelity has a new charge for the buyer, I think I'll go to The Timeshare Store website more frequently.

I haven't heard of TS or DVC Sale(re) having the fee.

[Breyean]

Originally Posted by sara mom

If Fidelity has a new charge for the buyer, I think I'll go to The Timeshare Store website more frequently.

I haven't heard of TS or DVC Sale(re) having the fee.

Oh, they definitely have it now. $195 flat admin fee to the buyer.

We'll still probably go through with the contract since we've been waiting a while for one like this, but it still is a nickle and dime sort of fee that just reeks of squeezing every penny out of everyone involved in the deal.

You know what I forgot to ask? Is this fee refunded if the contract gets ROFR'd. At VGC this is a distinct possibility. I guess it depends on what part of the "process" the new "fee" applies to - the production of the contract and those steps, or the closing of the contract.

I bet, w/o knowing for sure, that it's the former and this fee is non refundable even if the contract gets ROFR'd.

I'll find out tomorrow when I call again.

[fmer55]

Originally Posted by Breyean

Oh, they definitely have it now. $195 flat admin fee to the buyer.

We'll still probably go through with the contract since we've been waiting a while for one like this, but it still is a nickle and dime sort of fee that just reeks of squeezing every penny out of everyone involved in the deal.

You know what I forgot to ask? Is this fee refunded if the contract gets ROFR'd. At VGC this is a distinct possibility. I guess it depends on what part of the "process" the new "fee" applies to - the production of the contract and those steps, or the closing of the contract.

I bet, w/o knowing for sure, that it's the former and this fee is non refundable even if the contract gets ROFR'd.

I'll find out tomorrow when I call again.

That makes me angry. I really like dealing with them but this seems a little like choking the buyer. I have been loyal to them but will definitely be an equal oppurtunity shopper now.

[dvcterry]

Originally Posted by Breyean

Oh, they definitely have it now. $195 flat admin fee to the buyer.

We'll still probably go through with the contract since we've been waiting a while for one like this, but it still is a nickle and dime sort of fee that just reeks of squeezing every penny out of everyone involved in the deal.

You know what I forgot to ask? Is this fee refunded if the contract gets ROFR'd. At VGC this is a distinct possibility. I guess it depends on what part of the "process" the new "fee" applies to - the production of the contract and those steps, or the closing of the contract.

I bet, w/o knowing for sure, that it's the former and this fee is non refundable even if the contract gets ROFR'd.

I'll find out tomorrow when I call again.

When I asked them the other day, you pay the deposit on the contract. The closing fee goes to title co. Their fee goes to them. This is paid after rofr and when you close.

[zippingalong]

I was planning on offering on a contract through them tomorrow. I guess I'll cobroke instead. There are other resale companies who will make offers on Fidelity properties and not charge the fee.

[Breyean]

Originally Posted by dvcterry

When I asked them the other day, you pay the deposit on the contract. The closing fee goes to title co. Their fee goes to them. This is paid after rofr and when you close.

Ahhh. That w/b good.

Here's that section of the email...

125 point at 90.00 per point $11,250.00

Full Closing $800.00

2013 Maintenance fee $572.50

Admin Fee effective 1/1/13 $195.00


Total Purchase $13,817.00

This doesn't really spell out what is due to whom or when. And Sharon forgot to mention the fee even existed, never mind any of the details about when or to whom it's owed.

But I'm glad to hear you only pay it if you are successful in getting past ROFR, because as I've said before, I've been ROFR'd twice already at VGC and know it's a possibility.

[fmer55]

Originally Posted by Breyean

Ahhh. That w/b good.

Here's that section of the email...

125 point at 90.00 per point $11,250.00

Full Closing $800.00

2013 Maintenance fee $572.50

Admin Fee effective 1/1/13 $195.00


Total Purchase $13,817.00

This doesn't really spell out what is due to whom or when. And Sharon forgot to mention the fee even existed, never mind any of the details about when or to whom it's owed.

But I'm glad to hear you only pay it if you are successful in getting past ROFR, because as I've said before, I've been ROFR'd twice already at VGC and know it's a possibility.

The more I think about this the madder I get. This is what comission is for.

[TinkandGoofy'sMom]

Passed ROFR today! 150 points at SSR. All of 2012, 13 and 14 points. $55 per point. Buyer pays closing and 2013 maintenance fees. Very excited for it all to be done so I can tweak our summer plans. This will make or trip next week more relaxing because now I won't be wondering if we passed or not.

[Hilly716]

Originally Posted by TinkandGoofy'sMom

Passed ROFR today! 150 points at SSR. All of 2012, 13 and 14 points. $55 per point. Buyer pays closing and 2013 maintenance fees. Very excited for it all to be done so I can tweak our summer plans. This will make or trip next week more relaxing because now I won't be wondering if we passed or not.

I've been waiting to about your deal, I have my sights set on our first DVC contract and think SSR is a smart move. Glad it worked out so well for you!

[Breyean]

Originally Posted by fmer55

The more I think about this the madder I get. This is what comission is for.

You know, I was so taken aback by the fee that I didn't even notice her math is wrong. When I add up those numbers, I get a $1000 LESS than the total she shows.

Am I wrong? Is my calculator broken? Or is there another hidden fee I don't know about still waiting to jump out at me?

[GoofyDad1970]

My 250 point AKV contract was sent for ROFR on December 17 and I haven't heard back yet. I am not worried about it, but the waiting is killing me! GGGGRRRRRRR