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

[MapleGirl]

Originally Posted by puffkin

Awe thanks. I know a lot of people on here wouldn't consider this contract, but we didn't need any points until at least 2014 and my mom (who is buying these points) really didn't want to pay dues for 2013 or go through the hassle of renting points. We also take a spring trip every other year or so and our other contracts are June UY so we thought a Feb/Mar UY would be better for those trips. Plus we wanted a contract between 110-125 points. I feel like we got a decent deal for our criteria. I know there will always be a better contract/deal out there, but this one fit our needs pretty well and I felt like it was an ok price so we jumped on it. Plus now I don't need to waste my time obsessively stalking the resale boards....I think people tend to forget that "cost" when they post their amazing deals on this board.

Hi Puffkin,
Congrats! This is the kind of deal I am thinking about - 110-120 points, for use starting in 2014. May I ask how you came across your deal? I am just starting out and gathering information.
Thanks!

[puffkin]

Originally Posted by MapleGirl

Hi Puffkin,
Congrats! This is the kind of deal I am thinking about - 110-120 points, for use starting in 2014. May I ask how you came across your deal? I am just starting out and gathering information.
Thanks!

I stalked the 4 big resale boards daily for about 2 months. As soon as something popped up in the 100-120 point range for AKV or SSR with a FEB/MAR use year I called with an offer right away. I had a total contract price (including all closing costs) that I wanted to stick to so I crafted my offers to fit that. I offered $60/pt AKV and $50/pt SSR. If there were all 2013 points I offered half MF and to pay closing. I got tons of NO's or terrible counters so get used to rejection.

Since this particular contract was somewhat stripped I offered $45/pt and buyer to pay closing as that seems to be a big turnoff for some sellers and honestly, to squabble over $200 at this point isn't worth my time (others will view this differently). They countered at $55/pt and I went back with my "best and final offer of $48". They were on the fence but decided to take it as they were somewhat motivated and I flat out said there are no 2013 points so it is a fair offer.

I made offers with all the big 4. This contract was through Fidelty (Shawn Ray). I do feel that she was more than willing to take in low offers to the seller and negotiate for the buyer. I did not feel that way about the others, especially the TSS which basically said that I would not get a 100 point contract unless I paid asking. Fidelity was also very upfront about the admin fee which is a point of contention to some on this board. I thought the fee was worth it though and they were a pleasure to work with and very prompt. I don't forsee this getting ROFR'd so I feel pretty good about our deal. There will always be a better contract or deal to be had, but I can live with this.

[DannysMom]

Originally Posted by MapleGirl

Hi Puffkin,
Congrats! This is the kind of deal I am thinking about - 110-120 points, for use starting in 2014. May I ask how you came across your deal? I am just starting out and gathering information.
Thanks!

There are 3 or 4 big resale brokers, not all of which can be mentioned here. The two biggest, that can be mentioned are Fidelity and The Timeshare Store (board sponsor.). Scan their listings for a while, and keep tabs on the ROFR thread.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

[okw2012]

Originally Posted by DannysMom

There are 3 or 4 big resale brokers, not all of which can be mentioned here. The two biggest, that can be mentioned are Fidelity and The Timeshare Store (board sponsor.). Scan their listings for a while, and keep tabs on the ROFR thread.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

You can also request to be informed by email when new contracts are available. Some brokers allow you to specify that you are only interested by small contracts.

[amandaC]

Originally Posted by Joey7295

Found out on 2/5 Disney has decided to exercise ROFR. This was going to be my first HHI, but I guess not.

Awww that stinks!

And your news has me checking my email constantly since my contract is very similar & went to Disney for ROFR the day after yours. Ugh!

[ELMC]

Originally Posted by puffkin

Went to ROFR on 2/5/13. Purchased through Shawn Ray with Fidelity.

115 SSR (FEB) no banked or 2013 points. All 2014 points forward. Buyer paying closing and $195 admin. Seller paid 2013 MF since points were used. $48 per point.

I know many of you would not even consider a contract like this since it is somewhat stripped, but it fit our needs for a variety of reasons and I feel like we got it for a fair price.

This is a great example of buying a contract that fits your needs. If you don't need 2013 points (which it sounds like you don't) and the price reflects the fact that it is stripped (which it somewhat does) then why not go for it? Remember, this is a 30+ year commitment, so if the size and UY work for you, then great! Plus, even without 2013 points, you still saved a TON over buying direct.

Originally Posted by puffkin

Awe thanks. I know a lot of people on here wouldn't consider this contract, but we didn't need any points until at least 2014 and my mom (who is buying these points) really didn't want to pay dues for 2013 or go through the hassle of renting points. We also take a spring trip every other year or so and our other contracts are June UY so we thought a Feb/Mar UY would be better for those trips. Plus we wanted a contract between 110-125 points. I feel like we got a decent deal for our criteria. I know there will always be a better contract/deal out there, but this one fit our needs pretty well and I felt like it was an ok price so we jumped on it. Plus now I don't need to waste my time obsessively stalking the resale boards....I think people tend to forget that "cost" when they post their amazing deals on this board.

All of your reasons above are (in my opinion) viable reasons for choosing this contract and not justifications of a questionable decision. As for the statement I bolded, just remember, only one person can get the best deal. Everyone else overpays by comparison.

[chasshan]

Originally Posted by spears2008

It's been a long wait (about 4 months), but our 220 BLT Sep contract is finally closed at $75 pp. 220 points coming Sep 2013 and all forward

We dealt with very slow sellers and seller agent/closing company.

Here's a little on our timeline:
-10/8 reached agreement with seller originally at $17,200 (found posting on Sellmytimesharenow.com)

-10/16 - still hadn't received any contracts or contact from the seller's agent Sellmytimesharenow.com despite numerous calls and messages on my account. Began doubting that contract was going to proceed. Contacted Seller to let them know we were moving onto another contract (I had found an AKV contract that was interesting). Instead, Seller dropped price to $16,500 or $75 pp (Seller always agreed to pay all closing costs and 2012 mf). We agreed to new lower price and to wait a few more days.

10/17 - received contracts from Timeshare broker services. They had numerous errors. fortunately, I am an attorney an knew what needed to be changed

10/19 recieved revised contracts to sign. Executed and sent back next morning.

10/22 - received copies of executed contract

At this point we began dealing with Sheila Downs of Timeshare Closing Services.

I don't know when we were submitted to ROFR or when it was approved. I was actually worried that it wasn't handled correctly. I still don't see the notice on the Comptroller's website, but DVC has told me I am in their computer system, so I guess they did waive ROFR at some point.

11/26- I received closing documents. I of course had comments on the deed.

11/27 - I executed the documents and wired my funds.

2 months of waiting for the Seller to execute deed. Seller was from Canada and did not want to go to US notary for execution. I have not seen copy of deed, so I am still concerned that this was not handled properly.

1/23 - Deed Recorded on Comptroller's website (deed shows that it was executed 12/19/12 -- not sure why the Seller delayed in sending it to the Closing company) NOTE: This was almost 2 MONTHS after I wired funds.

2/4 - I called DVC and was told that I am in the computer system and my membership card is in the mail. They would not give me my member number over the phone. I am still waiting, nearly 4 months later!

2/5 - I'm cautiously optomistic at this point that the transaction may be final. I still need to see the actual deed to make sure it was a US notary that notarized the deed.

In contrast, I had a very fast 50 BWV Dec UY contract that I purchased through Sharon at Fidelity. 6 weeks from offer to closing, first reservation made one week later.

10/3 - reached agreement on price same day $67 per point, buyer pays closing costs (I paid asking price because I wanted a contract in time to take advantage of the PAP deal. We purchased 9 PAPs, and the savings practically pays for this small contract right off the bat)

10/4 - received contracts for execution

10/5 - we mailed back executed contracts and deposit

10/8 - received contract executed by Sellers, submitted to ROFR

11/6 - passed ROFR

11/8 - I added a friend to contract so that she could take advantage of PAP deal. We received addendum immediately.

11/9 - received closing documents

11/12 - returned executed closing documents

11/15 - contract closed

I contacted DVC right before thanksgiving and received member number via phone with tons of time to spare for my PAP purchases!

Hi,

What's a PAP purchase?
I just made my first offer for BWV, 350 pts, at $67. per point.
I hope I didn't pay too much after reading your post.
The contract has 350 banked points from 2012, 350 for 2013 and so on moving forward. I pay closing costs, seller and I are splitting 2013 mf.
First time on this board;probably should have read it sooner, especially since I'm familiar with DIS. (just usually lurking on DCL forums).

Thanks,
Shanna

[GOOFY D]

Originally Posted by chasshan

Hi,

What's a PAP purchase?
I just made my first offer for BWV, 350 pts, at $67. per point.
I hope I didn't pay too much after reading your post.
The contract has 350 banked points from 2012, 350 for 2013 and so on moving forward. I pay closing costs, seller and I are splitting 2013 mf.
First time on this board;probably should have read it sooner, especially since I'm familiar with DIS. (just usually lurking on DCL forums).

Thanks,
Shanna

Good luck!

[crbruce_us]

Originally Posted by chasshan

Hi,

What's a PAP purchase?

Premium Annual Pass

[ELMC]

Originally Posted by chasshan

Hi,

What's a PAP purchase?
I just made my first offer for BWV, 350 pts, at $67. per point.
I hope I didn't pay too much after reading your post.
The contract has 350 banked points from 2012, 350 for 2013 and so on moving forward. I pay closing costs, seller and I are splitting 2013 mf.
First time on this board;probably should have read it sooner, especially since I'm familiar with DIS. (just usually lurking on DCL forums).

Thanks,
Shanna

You got a good deal for a contract that is in high demand. You could have possibly gotten it for a few dollars less. You also could have lost it to a full priced offer while you were trying to save a few bucks.

I am one of the biggest (if not the biggest) proponent of getting the best deal one possibly can. However, given the dearth of BWV contracts in the past 9 months, I do not apply that thinking to owning there. Congrats on your deal and here's to a smooth closing.

[chasshan]

Thanks everyone!

O.k. now I don't feel so bad.
And at least by splitting the MF I'm saving $1022.
That would be equivalent to.....about $3. less per point, for the 350 pts. I'm purchasing, not to mention the 350 banked points.

Does anyone know what the savings is for the PAP, or AP for either Disneyland or WDW?

Shanna

[radmcg]

I dont think you should feel bad at all great contract. I like deals as much as anybody. Have been looking for 100 at BWV with feb UY (optional). Missed like 4 contracts. Finally got email from one of the brokers for $70.00 PP with 100 2012 points banked and all forward feb UY. From time I got the email till I made the offer was 4 minutes. I don't feel bad at all got exactly what I wanted. Could I have haggled and got it maybe. Could I have haggled and lost it most likely, the BWV supply has been. I think you got a great contract at a fair price. The only problem I had was explaining to my wife why I didn't at least ask first. In my defense I had warned her I would buy the next one I found that was exactly what I wanted. Went to ROFR January 15th should hear from them soon hopefully. Does anyone know if they only release once a week i.e. thursday or do they process everyday and release them when processed?
Just curious
Congratulations
Rad

[lovin'fl]

Originally Posted by radmcg

I dont think you should feel bad at all great contract. I like deals as much as anybody. Have been looking for 100 at BWV with feb UY (optional). Missed like 4 contracts. Finally got email from one of the brokers for $70.00 PP with 100 2012 points banked and all forward feb UY. From time I got the email till I made the offer was 4 minutes. I don't feel bad at all got exactly what I wanted. Could I have haggled and got it maybe. Could I have haggled and lost it most likely, the BWV supply has been. I think you got a great contract at a fair price. The only problem I had was explaining to my wife why I didn't at least ask first. In my defense I had warned her I would buy the next one I found that was exactly what I wanted. Went to ROFR January 15th should hear from them soon hopefully. Does anyone know if they only release once a week i.e. thursday or do they process everyday and release them when processed?
Just curious
Congratulations
Rad

We were considering BWV (75-100 points)...good thing we didn't wait around on a contract there as it seems it is in high demand.

I am curious, too, when Disney signs off on ROFRs...if it's every day or just once a week cause we went to ROFR a week after you (radmcg). You should hear soon...come back and let us know when you hear.

[chasshan]

Thanks Rad,

I just received word my contract has been sent off to Disney today.
So the waiting begins.
Please let us know when you hear; that should give me a good idea of how long mine will take.

Congratulations to you too!

Shanna

[puffkin]

It really makes you wonder what all goes on in ROFR that it takes so long to hear back

Just heard from Shawn Ray at Fidelity that Disney caught a typo in our contract during review for ROFR and that we need to sign an addendum to correct it. The contract number was a 1 instead of a 7 at the one spot. No big deal to send in the addendum, but glad they caught it.

Makes you wonder though....this contract went to ROFR on Tuesday. They already caught it today so they are already reviewing it. I always thought the delay was it sitting in some queue somewhere. So what do they do for the next 20 something days?