Am I The Jerk? - VGF resale offer edition

[PaintsWithAllTheColors]

Today I made two offers on VGF resales as follows:

1. Listing was for 160 points, $193/point, Dec UY, semi-loaded. I offered $185/point, which the agent told me was a "pretty good offer". This was through a company that supports the DIS. Ultimately the seller didn't want to come down that low but my husband didn't want to come up, so we passed for now.

2. Listing was for 150 points, $195/point, Dec UY, semi-loaded, can't close until the end of the year. I offered $185/point again (with paying closing costs and dues). This time, I received a rather rude email from the agent, for a company not associated with the DIS, telling me that the seller wants a full price offer and that "Honestly in order to get past ROFR you are going to have to be at or above the asking price".

Am I crazy to think that's simply not true and that my offer was fair? Of course, totally in the seller's rights to hold out for a full-price offer, no issue there. I just felt it was dishonest for the agent to tell me it wouldn't even pass ROFR. Her email made me feel shamed as if I'd totally low-balled the seller

TLDR: Is offering $185/point when it was listed at $195/point truly a lowball offer? and, more importantly, is it at risk for not passing ROFR? The ROFR thread here doesn't seem to indicate that my offer was out of whack at all.

 

[Adg0428]

Today I made two offers on VGF resales as follows:

1. Listing was for 160 points, $193/point, Dec UY, semi-loaded. I offered $185/point, which the agent told me was a "pretty good offer". This was through a company that supports the DIS. Ultimately the seller didn't want to come down that low but my husband didn't want to come up, so we passed for now.

2. Listing was for 150 points, $197/point, Dec UY, semi-loaded, can't close until the end of the year. I offered $185/point again (with paying closing costs and dues). This time, I received a rather rude email from the agent, for a company not associated with the DIS, telling me that the seller wants a full price offer and that "Honestly in order to get past ROFR you are going to have to be at or above the asking price".

Am I crazy to think that's simply not true and that my offer was fair? Of course, totally in the seller's rights to hold out for a full-price offer, no issue there. I just felt it was dishonest for the agent to tell me it wouldn't even pass ROFR. Her email made me feel shamed as if I'd totally low-balled the seller

TLDR: Is offering $185/point when it was listed at $197/point truly a lowball offer? and, more importantly, is it at risk for not passing ROFR? The ROFR thread here doesn't seem to indicate that my offer was out of whack at all.

If they weren’t open to offers, then the agent should have listed that. According to the ROFR thread, I don’t think 185 is too low to pass

 

[PaintsWithAllTheColors]

If they weren’t open to offers, then the agent should have listed that. According to the ROFR thread, I don’t think 185 is too low to pass

Thanks - I just double-checked and there aren't any notes indicating "no offers" or "full price only". I hadn't thought to look for that before, so I'll keep that in mind as I keep shopping.

 

[princesscinderella]

You are not wrong in your approach to buying VGF. There are a lot of great brokers and some not so great. Think like Dory and “Just keep bidding”. I have worked with Sue from www.DVCresalemarket.com and she has been fantastic and always presented my offers without negativity. I had a similar experience as to what you have described above with a different agent at the same brokerage. If you are not in a rush it might be worth it so wait and see what the price is for VGF when it goes into active sales again through Disney when they open sales for the new building they are converting. I think $175 is fair with the new sales on the horizon.

 

[AlldayIdreamaboutDisney]

I had a similar email when I sent an offer for a Boulder Ridge contract. I was told the sellers were savvy and knew what their contract was worth. I already am purchasing a semi loaded contract for CCV that I felt I got for a pretty good price of $154. I replied back to her that I too know what to try to ask for and was not bothered that they didn’t like my offer and I didn’t like the counter offer they offered. There are plenty of fish in the sea and you will catch the right one!

 

[PaintsWithAllTheColors]

You are not wrong in your approach to buying VGF. There are a lot of great brokers and some not so great. Think like Dory and “Just keep bidding”. I have worked with Sue from www.DVCresalemarket.com and she has been fantastic and always presented my offers without negativity. I had a similar experience as to what you have described above with a different agent at the same brokerage. If you are not in a rush it might be worth it so wait and see what the price is for VGF when it goes into active sales again through Disney when they open sales for the new building they are converting. I think $175 is fair with the new sales on the horizon.

I had a similar email when I sent an offer for a Boulder Ridge contract. I was told the sellers were savvy and knew what their contract was worth. I already am purchasing a semi loaded contract for CCV that I felt I got for a pretty good price of $154. I replied back to her that I too know what to try to ask for and was not bothered that they didn’t like my offer and I didn’t like the counter offer they offered. There are plenty of fish in the sea and you will catch the right one!

Thanks to you both! I think I just needed this reminder that if I've done my research, I should just stick to my guns and not be bothered by the less-pleasant interactions.

 

[AlldayIdreamaboutDisney]

Definitely! You know your stuff and some of these brokers make us feel like we are just sending in anything! Not to say I’ve tried to low ball “just to see” but if it’s what you’re looking for you already know what it’s worth. Do let them make you second guess yourself! Good Luck!

 

[ELMC]

I used to work with a DVC resale agent that would present dozens of my lowball offers without complaint, and every once in awhile they resulted in a sale. Not only do I think your offer of $185 for a $195 point contract was reasonable, but unless I'm mistaken we still haven't figured out why contracts get taken in ROFR. So based on that, I would say that the agent's response was inappropriate and you are not the jerk.

 

[mmackeymouse]

*Above* the asking price? Are people really out there bidding above the asking price? That makes no sense. Maybe they should have priced it at $130 pp if they wanted to start a bidding war and get above asking. Crazy.

Kind of makes me wish I had jumped on VGF back during summer 2020.

My very first DVC purchase...it was front loaded with a bunch of points which I didn't even know if I'd be able to use/rent, because it was the midst of the pandemic, and DVC hadn't been talking.....and then on year 2, it was half used. So, to be fair to me....I went WAY low....like $24 pp below asking. I was stunned that they accepted. I really thought there may be some back and forth. So...you never know what other people may do, so all you can do is ask.

On a recent contract offer, I offered $18 pp below asking. Ultimately, they came down and I came up, and there was some back and forth, but we ended up settling in the middle, $10 pp below asking. And, I am going to be honest....and one point, I was about ready to walk away, because the seller just wasn't moving a lot, and I didn't want to offend them. So, I thought it would be better to just walk away.

To my agent's credit...she told me she thought there was room for more negotiation, and I was able to work out a price point that worked for me...and they were willing to take it. The agent could have been a jerk and told me that I was going too low, but she was very kind to give me that last bit of encouragement.

 

[kandlsutton]

I passed on a small 55 point VGF contract at $175pp, so I doubt they aren’t targeting VGF And I have seem others contracts pass in the same range. And i don’t view a fair offer a lowball when many sites are inflating the listing price.

 

[poofyo101]

same broker does this crap everytime. gets tiresome after a while.

 

[cvg813]

You are definitely not the jerk and did not lowball. Just look for a different company and stay away from that broker. Hope you can get a contract soon.

 

[MICKIMINI]

You are acting appropriately and offering a fair price. It is up to the broker to present your offer to the seller. That is their job.

I've run into this before and don't work with a few brokers for this reason...not worth MY time. I only work with brokers who will present my offer to the seller and we negotiate from there or move on.

Do your homework and present your offer and let it fly! Brokers who stonewall buyers as a sales tactic are ones I avoid...and I've bought lots of contracts.

Best of luck!

 

[Frederic Civish]

Today I made two offers on VGF resales as follows:

1. Listing was for 160 points, $193/point, Dec UY, semi-loaded. I offered $185/point, which the agent told me was a "pretty good offer". This was through a company that supports the DIS. Ultimately the seller didn't want to come down that low but my husband didn't want to come up, so we passed for now.

2. Listing was for 150 points, $195/point, Dec UY, semi-loaded, can't close until the end of the year. I offered $185/point again (with paying closing costs and dues). This time, I received a rather rude email from the agent, for a company not associated with the DIS, telling me that the seller wants a full price offer and that "Honestly in order to get past ROFR you are going to have to be at or above the asking price".

Am I crazy to think that's simply not true and that my offer was fair? Of course, totally in the seller's rights to hold out for a full-price offer, no issue there. I just felt it was dishonest for the agent to tell me it wouldn't even pass ROFR. Her email made me feel shamed as if I'd totally low-balled the seller

TLDR: Is offering $185/point when it was listed at $195/point truly a lowball offer? and, more importantly, is it at risk for not passing ROFR? The ROFR thread here doesn't seem to indicate that my offer was out of whack at all.

I find it hard to believe that a successful broker / salesman would treat you that way. Offers to buy things, especially real estate, at below the listed price are extremely common and just part of the business. In fact, in a 'down year' (buyer's market because sales are soft) almost all the offers will be at below the listed price, unless the listed price is too low. In an 'Up year' (seller's market, because sales are good) they can be firm and stick to whatever they want, but they will STILL get some offers at below market price. This is just how the business works.

So, NO, you were not wrong. The Broker / Agent is the jerk here. They should know this, because if they treated you nicely, you might come back in the future or refer a friend. By being an idiot, they have only hurt themselves.

 

[RoseGold]

This is math, and that’s not a lowball offer.

Even if it were, there are dozens of VGF contracts sitting on the market snd minimal ROFR for VGF. Low ball offers make sense to me.

Rejecting the offer also makes sense to me. It was just an offer. Sounds like you need a new agent.

 

[Frederic Civish]

This is math, and that’s not a lowball offer.

Even if it were, there are dozens of VGF contracts sitting on the market snd minimal ROFR for VGF. Low ball offers make sense to me.

Rejecting the offer also makes sense to me. It was just an offer. Sounds like you need a new agent.

I very much agree. I wouldn't do further business with that broker.

 

[Matty B13]

Well, since even the DIS boards sponsor has the highest ROFR at $160/point I think you made a good offer.

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-june-21/
I know we offered on 2 contracts listed at around $195/point for $175/point which I think is more than fair. And yes there are 1 or 2 resale sites that have Jerks for brokers. I had a broker who got upset with me after agreeing to a contract, but then when I got the paperwork the UY was different than their website so I reascended the offer and she got pissed at me for her mistake.

 

[FSUSammy]

I had even DIS board sponsors tell me that my offer needed to be higher in order to pass ROFR for BLT because in their words "they haven't seen anything in the low 160s pass". Let's just say I didn't use that company and I went with another and my offer passed ROFR and I saw ones pass that were even lower than mine as well. They are trying to make the most money for themselves and their clients. You have the choice whether to stick with your offer or not. Honestly don't settle. If you know what you can pass with stick with that.

 

[we"reofftoneverland]

Today I made two offers on VGF resales as follows:

1. Listing was for 160 points, $193/point, Dec UY, semi-loaded. I offered $185/point, which the agent told me was a "pretty good offer". This was through a company that supports the DIS. Ultimately the seller didn't want to come down that low but my husband didn't want to come up, so we passed for now.

2. Listing was for 150 points, $195/point, Dec UY, semi-loaded, can't close until the end of the year. I offered $185/point again (with paying closing costs and dues). This time, I received a rather rude email from the agent, for a company not associated with the DIS, telling me that the seller wants a full price offer and that "Honestly in order to get past ROFR you are going to have to be at or above the asking price".

Am I crazy to think that's simply not true and that my offer was fair? Of course, totally in the seller's rights to hold out for a full-price offer, no issue there. I just felt it was dishonest for the agent to tell me it wouldn't even pass ROFR. Her email made me feel shamed as if I'd totally low-balled the seller

TLDR: Is offering $185/point when it was listed at $195/point truly a lowball offer? and, more importantly, is it at risk for not passing ROFR? The ROFR thread here doesn't seem to indicate that my offer was out of whack at all.

It is just a sales technique to try to get you to pay more. They are trying to make you doubt yourself. $185 is plenty. Your husband is right. Don’t pay more.

 

[Ginamarie]

Today I made two offers on VGF resales as follows:

1. Listing was for 160 points, $193/point, Dec UY, semi-loaded. I offered $185/point, which the agent told me was a "pretty good offer". This was through a company that supports the DIS. Ultimately the seller didn't want to come down that low but my husband didn't want to come up, so we passed for now.

2. Listing was for 150 points, $195/point, Dec UY, semi-loaded, can't close until the end of the year. I offered $185/point again (with paying closing costs and dues). This time, I received a rather rude email from the agent, for a company not associated with the DIS, telling me that the seller wants a full price offer and that "Honestly in order to get past ROFR you are going to have to be at or above the asking price".

Am I crazy to think that's simply not true and that my offer was fair? Of course, totally in the seller's rights to hold out for a full-price offer, no issue there. I just felt it was dishonest for the agent to tell me it wouldn't even pass ROFR. Her email made me feel shamed as if I'd totally low-balled the seller

TLDR: Is offering $185/point when it was listed at $195/point truly a lowball offer? and, more importantly, is it at risk for not passing ROFR? The ROFR thread here doesn't seem to indicate that my offer was out of whack at all.

It's not a lowball offer at all. Some sellers do only want full price and some brokers are just extra pushy. Fidelity had three GFV contracts all listed at $185/point yesterday. It's not an unreasonable price at all. I've seen them passing for less than that recently.