Another ROFR

[jcanary]

Just got the fedex from DVD that they are buying our contract back. It was 230 OKW points with 64 left for this year. I can't believe that they took it. The buyer was paying closing, reimbursing us the maintenance for this year and it was going for $72. It has only been about a week since it went to the closing company, I can't believe it, I really wish the buyers were getting it, maybe they will come back with a counter if that's possible. Can they counter offer for higher than what we were asking?

 

[LIFERBABE]

Sorry to hear about the contract. What was the UY?

Wow! They must have really had some buyers lined up on the waitlist to take that one.

I added back in the closing and Mf's and it came to approx. $78 ppt. They will definitely need to sell that for $89 and finance to clear a profit.

Not sure if they can re-bid or not. I have read that others have done it.

 

[jcanary]

it was June UY.

 

[carlos1117]

Sorry to hear that. Just yesterday my offer was accepted for 201 points @72, with the seller paying maintenance fees.

You guys better send me loads of pixie dust!

 

[AmyBeth68]

WOW!

Well....we have a 220 point contract in front of DVC right now at 72/point. I thought we'd be safe. Guess not LOL!

Thanks for the update!

Best of luck Carlos. Yours went in front of them the same time as ours. Was it for OKW as well?

 

[carlos1117]

AmyBeth,

Yes it was. The thing that bothers me the most is that I have to wait 3 weeks to hear NO!

 

[offtheice]

Originally posted by jcanary
Just got the fedex from DVD that they are buying our contract back. It was 230 OKW points with 64 left for this year. I can't believe that they took it. The buyer was paying closing, reimbursing us the maintenance for this year and it was going for $72. It has only been about a week since it went to the closing company, I can't believe it, I really wish the buyers were getting it, maybe they will come back with a counter if that's possible. Can they counter offer for higher than what we were asking?

Gang. The best way right now is going thru disney . The demand is there right now for disney to take a big % of contracts back. I orginally was going to settle for SSR,but got on the list for BWV through my guide. Within 1 week I had my BWV and cancled my SSR. I rather pay 84 bucks a point and have disney pay for the closing ,then to go through waiting 2 -3 weeks to find out you didnt get it , just to save 12 bucks a point..

 

[SoCalKDG]

Gang. The best way right now is going thru disney . The demand is there right now for disney to take a big % of contracts back. I orginally was going to settle for SSR,but got on the list for BWV through my guide. Within 1 week I had my BWV and cancled my SSR. I rather pay 84 bucks a point and have disney pay for the closing ,then to go through waiting 2 -3 weeks to find out you didnt get it , just to save 12 bucks a point

Disagree. First, its now $89, I believe.

Buy at $74, pay closing, so about real cost of $76.5. Save $12.5 per point for a 200 pt contract for next gain of $2500. To me thats still alot of money.

By the way, it sounds like its the seller that has posted this message, so we don't need to feel to sorry for them, they are getting a big check very soon.

 

[carlos1117]

There is no way to justify a cost savings thru Disney. SoCal is right on the money. Currently, including closing, you save at least 10 most likely 12 bucks per point. Like I mentioned previously; use that saving to purchase extra point thru resale.

 

[RuthnPaul]

Originally posted by jcanary
I really wish the buyers were getting it, maybe they will come back with a counter if that's possible. Can they counter offer for higher than what we were asking?

We asked our broker that very question just last week when we were very concerned about not making it past ROFR. Her answer was that once Disney exercises ROFR, the buyer is out of the picture. However, there have been posts on this board to the contrary. Luckily, we passed ROFR so it was a moot point!

Does it seem to anyone else that Disney seems to be exercising ROFR more the last few weeks on stripped contracts rather than those than have some to all of the points available?

 

[Happy Birthday Cat]

Wow! I am amazed that it was taken by ROFR.

I'm not sure of the procedure but if the OP wants the perspective buyer to counter offer, he/she should contact your resale agent right away. You may be able to pick up a couple hundred more dolllars if they are willing.

HBC

 

[carlos1117]

Quoteoes it seem to anyone else that Disney seems to be exercising ROFR more the last few weeks on stripped contracts rather than those than have some to all of the points available?


Ruth,

I sure hope they do, mine is loaded! LOL

I receive a great deal, however now I'm thinking it might be too good.

 

[AmyBeth68]

RuthnPaul...I was thinking that Disney was exercising ROFR more on loaded contracts. The one the OP mentioned came w/ points, as did the one we just lost last week. So I'm hoping that loaded contracts are more desirable. But who knows .....it's nerve wracking but still exhilerating...kind of like gambling.

We'll get it one of these days, in the mean time we're playing the game. Just waiting on those DVC Gods to smile on us! LOL!

 

[jcanary]

Yes. I immediately contacted my sales agent because I want the private person to get the contract, not DISNEY. I want to see some family enjoy as much as we have for the past 11 years. I do not care about the extra money, I would take 72.10 if I knew that would get by DVD. My agent was trying to contact the buyers to see if they will do the counter offer, which I hope they do.

SoCalKDG -- Yea I will get my money either way but before you jump down my throat because I am the seller, I would rather see a family save some money and enjoy the DVC as we have with family and friends. Money isn't everything!!! In a few years after college payments, etc, I plan on buying some other contracts from a resale.

 

[DBBN]

jcanary...Thanks for taking the time to post your experience while selling your points. We'll be shopping for more OKW points soon and find the details you posted important when deciding which contract to buy and and what to offer. Very thoughtful of you to try to contact the buyers as well. I hope the sellers of the contract we buy next are as thoughtful and as familiar with the process as you are.

By the way I don't think SoCalKDG was "jumping down your throat" with his post. I believe he was simply pointing out that you were the seller and not the buyer of these points and regardless of who the buyer was you would have your points sold.

Good luck on your search for a resale contract(s).

 

[SoCalKDG]

SoCalKDG -- Yea I will get my money either way but before you jump down my throat because I am the seller, I would rather see a family save some money and enjoy the DVC as we have with family and friends. Money isn't everything!!! In a few years after college payments, etc, I plan on buying some other contracts from a resale.

No no, that wasn't my intent.

It seemed like people were misidentifying you as the buyer, when in fact you were the seller showing remorse for the buyer, which was very commendable.

Thanks DBBN for the words.

I think it might be funny that some sellers are going to get offered more money than they are asking. Reminds me of the home prices here in So Cal.