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

[princesscinderella]

Congrats to all who made it through ROFR Tuesday!

 

[vwl mom]

Congratulations to all that passed ROFR today.

 

[DougEMG]

Really? I have only just entered my ROFR wait. If things go swimmingly well maybe we close in August, perhaps Sept if things are pokey. With F&W and then the holiday season, I was thinking even getting them rented (in Sept) would be dicey.

I agree with ELMC that you should have no problem getting them rented.

Now I've got 270 points expiring the end of July which I'll have to fire sale to get rid of and I'm still waiting to have them added to my account.

 

[MarlaSingersLaundry]

Congrats to all that passed today!!!


Have any recent purchasers purchased from a foreign seller? I received a FIRPTA notice with our closing paperwork today regarding a 10% withholding that must be submitted to the IRS by the buyer within 20 days of closing. As I read the IRC and notice (I am a tax nerd) it does not look like the sale of a time share automatically falls into an exemption. I truly doubt this sale is a gain, but it looks like it is up to the IRS to decide, not me, seller, title company or any realtor. Any one else run into this? What did you do? Closing docs only include this notice and the balance sheet sent to us does not account for any withholding. Thanks!

 

[gatorgirl02]

Congrats to both Sharon and Mike on their VWL contracts. I will be joining you guys too as my contract passed today!

Here are my contract details:
VWL 130 Pts Aug UY, $55 per point
Submitted 5/29, Passed 6/26
130 2010 points exp 7/31/12
130 2011 banked points, exp 7/31/13
130 2012 points
Buyer pays closing and MF

 

[Nigel8600]

Add my name to the list of those receiving good news. I passed ROFR today!

My contract was 150 pts (Aug UY) @ VWL for $53/pt with buyer paying closing costs and splitting MF with seller. Contract purchased through Sharon at Fidelity.

Happy, happy...joy, joy!

Can't wait to officially join the community of DVC owners. Thanks again to everyone on this board with all of your helpful and insightful advice and encouraging support.

Congrats to both Sharon and Mike on their VWL contracts. I will be joining you guys too as my contract passed today!

Here are my contract details:
VWL 130 Pts Aug UY, $55 per point
Submitted 5/29, Passed 6/26
130 2010 points exp 7/31/12
130 2011 banked points, exp 7/31/13
130 2012 points
Buyer pays closing and MF

Hilarious. I fought tooth and nail for $58PP on my VWL contract down from $72PP anyway, was told my odds were not good to pass rofr. I laugh now hearing $53 and $55PP passed? congratsts you two.

I demand a re-offer lol.

 

[cz4ever]

Congrats to both Sharon and Mike on their VWL contracts. I will be joining you guys too as my contract passed today!

Here are my contract details:
VWL 130 Pts Aug UY, $55 per point
Submitted 5/29, Passed 6/26
130 2010 points exp 7/31/12
130 2011 banked points, exp 7/31/13
130 2012 points
Buyer pays closing and MF

Congrats all around tp all you new VWL owners!

 

[Missyrose]

Hilarious. I fought tooth and nail for $58PP on my VWL contract down from $72PP anyway, was told my odds were not good to pass rofr. I laugh now hearing $53 and $55PP passed? congratsts you two.

I demand a re-offer lol.

Who told you your $58 p/p wouldn't pass ROFR, your broker? Which one are you using?

 

[hoosiermike]

Congratulations!!! When was it submitted?

My contract was submitted on 5/31.

 

[hoosiermike]

Great deal, hoosiermike!

We also received word we passed ROFR today (submitted 5/28).


VWL 160pts, Dec UY, 24 2010 pts banked, 160 2011 points banked, all pts going forward. Buyer pays MF and CC. $65/pt


Not the best VWL deal, but we're happy. Now to find a BCV contract.

Congratulations Sharon. Hope to see you around the Lodge someday!

 

[hoosiermike]

Congrats to both Sharon and Mike on their VWL contracts. I will be joining you guys too as my contract passed today!

Here are my contract details:
VWL 130 Pts Aug UY, $55 per point
Submitted 5/29, Passed 6/26
130 2010 points exp 7/31/12
130 2011 banked points, exp 7/31/13
130 2012 points
Buyer pays closing and MF

Congratulations gatorgirl02! Once I heard that my contract had passed, I started wondering if you would receive good news as well today. See you around the Lodge!

 

[poohbear52]

Congrats to Everyone that passed rofr

 

[catpainter]

When comparing different contracts I use a number of different methods to determine the costs of that contract. Note this is not value as value is in the wye of the beholder

I use method 1 when planning on renting out any points that come with the contract. So the formula I use is:

(($/point*#points + closing costs + any MF) - (rental rate * #points the contract has) ) / #points

I would use method 2 if I planned to use the points myself, then the formula is:

(($/point*#points + closing costs + any MF) - (Annual MF * #points the contract has) ) / #points


where
#points = the size of the contract
$/point = the price per point I'm paying
#points the contract has = how many points does the contract come with (ie assuming it is 2012 a contract with 100 2010, 200 2011 and 200 2012 would have 500 points on it)
rental rate = what I think I can rent the points out at. If the points are good for 5+ months I use $11 (use to use $10), anything less and I reduce the rate)
any MF = if I'm paying anything towards MF in the purchase



There are a couple of other things you can then do like dividing those costs by the number of years left on the contract and then adding in your annual MF to give you what your points are costing you each year.


So as an example:

BWV 300 points, comes with 530 points on Aug 2012. Price $54/point + $525 closing.

Method 1 = ( ($54/point*300 +$525) - (530points * $11/point) ) / 300 points = $36.32/point

Divide that by the number of years left (29) and you get $1.25/point/year.
Add the annual MF to that and you get $6.87/point for what you are currently paying.


Method 2 = $45.82/point

Divide that by the number of years left (29) and you get $1.58/point/year.
Add the annual MF to that and you get $7.20/point for what you are currently paying.

So this is just a number of ways to compare different contracts and different resorts on a price bases only. You can see right away though that the killer in the longer run is MF. What this also does is show how valuable getting points on your contract is without having to pay MF on them.

Thanks for sharing, Doug. You must have put a lot of work into figuring that all out!

 

[catpainter]

We were WAY excited to pass ROFR today on our BLT contract. Looks like lots of people got good news too!

Congratulations to everyone who passed!

 

[Shazzasmd]

Gatorgirl02 - Congrats on another nice VWL contract!!!

Congrats to everyone else who received good news this week.

 

[belle&beastcrazy]

I have been reading this thread for a while. Thanks for all the Info. We pass ROFR on Tuesday a 260 Feb. UY at SSR seller paying MF buyer paying closing went on 6/6

 

[marsh0013]

I have been reading this thread for a while. Thanks for all the Info. We pass ROFR on Tuesday a 260 Feb. UY at SSR seller paying MF buyer paying closing went on 6/6

congrats! we also went on 6/6 but did not hear back yet! darn, another week to wait, hope ours comes back next tuesday

 

[DougEMG]

I have been reading this thread for a while. Thanks for all the Info. We pass ROFR on Tuesday a 260 Feb. UY at SSR seller paying MF buyer paying closing went on 6/6

Now you got me worried, I've got a SSR contract that I was told went in June 1st and I haven't heard anything on it yet.

 

[gatorgirl02]

Passed ROFR today on the following contract.

BWV 300 points UY AUG.

Comes with 530 point on Aug 2012.

Price was $54/point + buyer pays closing.

CONGRATS Doug on both your contracts! Great deals

 

[gatorgirl02]

Hilarious. I fought tooth and nail for $58PP on my VWL contract down from $72PP anyway, was told my odds were not good to pass rofr. I laugh now hearing $53 and $55PP passed? congratsts you two.

I demand a re-offer lol.

Lemmie guess, TSS...