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Getting worried that Disney is going to excercises Rofr on my BWV purchase.

Discussion in 'Purchasing DVC' started by ozzie2131, Mar 8, 2013.

  1. ozzie2131

    ozzie2131 Earning My Ears

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    Getting worried that Disney is going to excercises Rofr on my BWV purchase. 55 dollars 150 points all 2012 and beyond points. Someone please reassure me that they won't. Sent to Disney 9 days ago
     
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  3. ELMC

    ELMC DIS Veteran

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    Well, there's two things. First, either they're going to take it or they're not, so worrying isn't going to do you any good. Second, BWV has, up until this point, pretty much avoided being targeted by ROFR. Based on past history, you should be fine.
     
  4. Sandisw

    Sandisw Moderator Moderator

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    I agree...they haven't seem to take BWV and the longer you go, the better it is...someone posted that most that get taken usually do so in the first 14 days...after that, the odds get less and less.

    But, no one knows what they are thinking...I just passed a $95 BLT contract and someone else had the same price point and got it taken..mine even had all 2012 points...

    Here is some pixiedust: that you get through! Good luck!
     
  5. Caren90

    Caren90 DIS Veteran

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    $55 per point is a good price and many in that range have passed ROFR. Are you paying the 2012 MF's and closing costs? It seems that has some effect on ROFR, but you should be ok at that price point.


    Good luck
    Stephen
     
  6. DisneyFansInLINY

    DisneyFansInLINY DIS Veteran

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    I am also worried about ROFR. The price increase on 3/20 makes me feel like Disney is going to need a decent amount of inventory on all of the resorts. And then of course there are those who have been getting on waitlists before the price increase. Disney is going to have to meet those demands as well. Unfortunately, there isn't anything you can do but wait. Good luck to you and hope you get your contract :)
     
  7. ozzie2131

    ozzie2131 Earning My Ears

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    Good luck to you too!
     
  8. ozzie2131

    ozzie2131 Earning My Ears

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    I paid all closing fees and all mf's. So hopefully that helps.
     
  9. dbs1228

    dbs1228 DIS Veteran

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    We are in the same boat! I am worried also - this is the contract I really want 222 BWV for 55.00PP we are paying 9 months MF and closing - sent for ROFR a few days ago keep me posted you are a week ahead of me. Wishing both of us luck :cloud9: or I know I will be back to the drawing board!:mad:

    Also we are selling our SSR 130 point contract which went for ROFR 2 days prior to the BWV - should be interesting.
     
  10. Caren90

    Caren90 DIS Veteran

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    Yes it will.

    Stephen
     
  11. MDdriver

    MDdriver Earning My Ears

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    I don't know if this will reassure you, but a couple of months ago, I got a 200 pt contract at BWV for $50/pt. Sent to ROFR on Dec 23 and closed at the end of Jan. I think you will get the contract. Welcome home.
     
  12. dbs1228

    dbs1228 DIS Veteran

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    Someone just posted that they were notified today the DVC took their BWV 270 points Feb UY 60.00PP :( now I am really concerned!
     
  13. kenspidey

    kenspidey Mouseketeer

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    At 55 a point I would be worried too......Just agreed to pay $67 for BWV. Contract was loaded with all of 2012 points banked into 2013. SEPT UY and I am a little concerned.
     
  14. CarolMN

    CarolMN DVC Co-Moderator Moderator

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    No one really understands why Disney exercises (or doesn't exercise) ROFR. All you can do is wait it out and hope for the best. Obviously everyone already knows that and if it were me, I'd be worried, too. :)

    IMO, it's going to depend on the inventory Disney already has in each use year for unsold BWV points. As most know, BWV is part of the current webcast promotion and even includes "free" park hoppers for purchases over a certain amount. So for example, if Disney is low on February points, it may decide to ROFR contracts to get more, especially if the contracts have current use year points available. A lot will depend on how much demand for BWV points Disney anticipates for each use year.

    Good luck to all who are waiting.
     
  15. wdrl

    wdrl DIS Veteran

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    Another factor that comes into play, especially at this time of year, is the number of pending foreclosures sitting on DVC's ledger. Maintenance fees were due this past February 15th and there are a number of Members that are past due. I imagine DVD tracks the accounts that are in arrears and, based on prior experience, has a fairly good idea of how many points will end up back under its control because it will foreclose on those accounts.

    Although I don't know if this is true, but I suspect that the number of points DVD reacquires through foreclosures affects its willingness to reacquire points through the ROFR process. Keep in mind that DVD reacquires far more points through foreclosures than it get back by exercising ROFR. For the 14 months from January 2012 to February 2013, DVD ROFRed only 1,295 BLT points. However, it reacquired 61,823 BLT points through foreclosure proceedings during that same period.
     
  16. ELMC

    ELMC DIS Veteran

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    Very interesting and very scary. Is there any way of knowing which contracts had balances on them and which didn't? I can understand giving back a contract with a balance, but in the case of a completely paid for contract the owner had other options.
     
  17. Madhattr

    Madhattr Mouseketeer

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    Except since they opened up direct purchase at the beginning of Feb there is a good waiting list now. They need to snag some points up.
     
  18. MickeyFan612

    MickeyFan612 Mouseketeer DVC Gold

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    With Disney's impending price increases, long waiting lists are forming thus creating the need to find more points- looks like through ROFR! More ROFR activity drives up resale prices helping to support new direct pricing! Ingenious plan by Disney!
     
  19. CarolMN

    CarolMN DVC Co-Moderator Moderator

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    Wow! Another good reason why financing a luxury purchase is very seldom (if ever) a good idea!
     
  20. wdrl

    wdrl DIS Veteran

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    No, there isn't any way (at least not for me) to know the financial status of the deeds that are foreclosed by Disney. However, there are two types of foreclosures exercised by Disney. One type is the "Warranty Deed in Lieu of Foreclosure." Based on the title and the wording of the document, it appears to be an internal document used by Disney to reacquire deeds from directly from a Member that is in arrears. I suspect that Disney uses this method of foreclosure when the Member willingly agrees to give up their ownership interest in exchange for some compensation. Its probably also the method used by Disney before it initiates court action against a Member.

    The second type of foreclosure is a "Certificate of Title" issued by the 9th iCircuit Court for Orange County. Since this type of foreclosure is an official court action, its probably undertaken by Disney when all other methods of recovery have failed. Also, Palm Financial Services (DVD's mortgage loan operation) is almost always a party in these types of foreclosures. Thus, these foreclosures might be due to Members being in arrears on loan repayments rather than past due on maintenance fees.

    Certificates of Title judicial foreclosures are slightly more common than Warranty Deeds in Lieu of Foreclosure, at least for BLT and AKV, the only two DVC resorts for which I track reacqusitions. Since sales started at BLT, DVD has reacquired 310 BLT deeds containing 53,903 points via Warranty Deeds in Lieu of Foreclosure and 331 deeds containing 59,012 points via Certificates of Title judicial foreclosures. For AKV, the numbers are 956 deeds/169,129 points and 981 deeds/175,181 points, respectively.
     
  21. ELMC

    ELMC DIS Veteran

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    That is great information, thanks for doing the work and sharing. I would love to have a product that I can sell to the consumer, take it back a few years later and sell it again. What a great business model. Anybody in the market for some ABC gum?
     

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