Discussion in 'Purchasing DVC' started by mac_tlc, Sep 21, 2012.
That was a nice contract, especially with those bonus 2011 points. Better luck next time.
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I am starting the process again. Addonitis hit as I wanted a contract at BLT (purchased in 2012) near MK and a contract near Epcot/HS and decided on BWV. I was not able to find the same UY as my BLT contract, but a contract came available that met my needs, point-wise and cost-wise. On January 11 we purchased a 150 point BWV with an Aug UY for $60/point, buyer paying closing and 2013 MF (all 2012, 2013 and 2014 points available). After a long drawn out process of getting the 2012 points banked and Rachel leaving Fidelity in the middle of the process, we finally were submitted to Disney for ROFR today (January 23). The wait begins (after nearly a 2 week delay).
Question: When Disney ROFR's the larger contracts, can they then split them up into smaller ones? I'm curious how the small contracts come to be.
Yes. They can re-package them, so to speak into smaller contracts.
Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
I was offered a 200+ VGC contract from Disney once and was told I didn't have to buy it all. I could have just purchased 100 points if I wanted.
Good luck with ROFR...here's hoping they waive ROFR on us all and do it in 2-3 weeks.
Off to ROFR today...
VGC 125 points June UY - $90/point. 79 banked 2012 points and all 125 going forward. Buyer pays 2013 MF, closing and admin fee. Through Fidelity.
This is our third try at a resale at VGC having been ROFR twice in the past. Can only hope third time's the charm.
Good luck! This is exactly the point level and contract I am looking for. Please come back and post the results. Hope it goes through!
Oh, I will. Sharon at Fidelity said they had a VGC pass ROFR a couple of weeks ago at $89, and she just sold a 250 point contract there yesterday at $88. So at least I'm in the ball park as far as what the going rate seems to be.
There seems to be a lot of experience here for Fidelity. I see a contract I am interested in putting an offer on their site. Is there anything I should know before they call them or a particular agent to contact (I keep seeing Rachel mentioned but I know she left). I also recall them charging a fee....how are you working that into your offers? Thanks for any experience!
Rachel is gone and the only one I have dealt with other than her is Sharon. So far, Sharon has been good. The fee is $195 and no one is really happy about it. It is up to you how to put it in your offer. I actually did not find out about it until after my offer was in, but since I had a full price offer, I probably would not have changed anyway. I find their initial listing prices are lower than the others, but final accepted prices are all based on the seller. I am more concerned about the contract than the company and have found they tend to have more inventory.
I also just found about about the new fee, added Jan 1, to buyers, after I had made my offer and contracts were being prepared.
Fidelity does seem to have lower listed prices, maybe partly due to they are the company to whom Disney steers sellers who call Disney needing to sell, often for financial reasons. I think this might also account for the higher number of listings they seem to have.
I've done 3 contracts with them before this one, all with Sharon, and it was a good experience each time (other than having been ROFR'd on two of them, of course).
But that fee stinks. Especially on a small contract, where it quickly adds to the price per point.
Thanks guys for the quick responses. I actually just put in an offer....since I am doing 100 point contract it was easy to adjust my offer for the $195. I spoke to Shawn and she was very nice so far....and by far the first person to actually be very receptive to me putting in an offer and not just list price. She flat out said everything is negotiable, she told me to not negotiate the $195 but to adjust elsewhere for it, that the sellers seem more receptive to that. So I just lowered my PP by $2. I've put in offers with the other "big" resellers on this site and have felt like they were not very interested in negotiating so this was very refreshing regardless of the outcome.
I am assuming if the contract gets ROFR'd you are not accountable for the $195. Is that correct?
Good luck to you. What resort are you going for?
Fidelity has always been good about presenting offers, even low balls. Plus a lot of times they know what the owner is looking for - like to pay off a loan, or if it's a divorce. So it's sad to say but if works in the buyer's interest to have those little bits of info to know where your offer s/b regardless of list price.
And yes, the fee is only collected at closing if you pass ROFR. You don't pay it upfront, although since I last put in a bid at Fidelity they upped the deposit from $500 to $1000, again refundable if you get ROFR'd.
I've had to pay $1000 deposit every time- did it used to be $500 or had it been less for smaller contracts?
The contracts I did with Fidelity previously were all in the 200-250 point range.
Not only did they only take a $500 deposit, but I charged it and when I was ROFR'd I didn't even have to wait to get it back - my card had never even been charged!
But this was back in 2011 so who knows when that might have changed there.
Just added on.... BLT - 50 pts AUG UY ! $95/pp; (i asked for $92 but declined..) 50 pts current ; 2013 2014 andd 2015 forward. Buyer paid closing.
Whew!! Its a small contract but happy to pay this than $165 pp.
Congrats! How long did ROFR take? I have a BLT contract in ROFR. Hope to be your neighbor soon!
My offer was accepted around Nov 22, 2012. Disney waived ROFR in 21 days.. so i got my notice that i got it around December 14th..i was shocked.. I was out of town for a month when i got it so i had to wait until i got back, get my funds straight then sent my final payment.. just got my email that its now closing... will need to wait for 2 more weeks to get it to Disney's system and recording etc.. I also made sure it was linked to my existing DVC membership..
SSR. August UY...
You're almost there, neighbor!!!
Thanks for the info on this thread. We put an offer in about a hour ago. We offered the asking price. Hopefully the
seller will accept soon because the suspense is killing me. So I have no idea how I will get through the time waiting to make it through ROFR if I can't even wait to hear back on my offer lol. The contract is for OKW 310 points $55 per point 163 points Aug 2012, 620 points 2013, 310 points 2014
This is a first time for us. We do not have any previous contracts and have never placed an offer before. Send me some pixie dust please
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