Any ROFR news?

[captainhook]

We are still waiting on ROFR for our contract at BCV - 240 points March UY no points for 04 -- 61 coming 3/05. Buyer paying closing costs. Let's hope it comes through! It went to Disney on 8/16. The wait is driving me crazy and I keep checking this post to see if anyone else has passed!!

 

[RuthnPaul]

Originally posted by MommaluvsDis
It's very hard (impossible) to figure out what Disney looks at in each and every contract.

I'll second that!! Our VWL passed ROFR in August. We paid just under $72 per point, 370 banked points from 2003, 370 points due 2004. We paid all M.F. for 2004 and closing. I know there are people on the waiting list for VWL so we were very surprised it passed!

Becca, if you're out there, it turns out the use year for our contract was OCTOBER, not SEPTEMBER (which I know you're looking for). The sellers gave the reseller bad info!

 

[LIFERBABE]

IMHO, it was the seller paying 1/2 MF's that made your package more attractive. Disney could care less about a contract being stripped, as there are so many members that dont manage their points and lose them and DVC can make any contract whole, by using these lost points. Anytime the seller is willing to cover costs, that's just bringing DVC's cost to purchase that contract lower.

So when a Seller pays MF's that brings DVC's cost down to ROFR the contract. I would take all the costs into consideration and total the cost per point to know the true value of your next package.

With your new offer of $72, even with you paying closing, your total cost per point is $72. So the 1/2 MF's are equivalent to the seller paying your closing thru the eyes of DVC. That puts your point spread at $18 ppt (from $89) Most get by with a $10 to $15 point spread.

Whichever you choose, SSR is definitely not a bad choice. If you take the $10 incentive, you will receive 05 points and as TJ says you will not pay MF's, interest or payments until your your building opens. Also the $10 incentive is credited to your 20% down payment so you would only have to put 10% down.

I purchased phase II SSR and my payments/interest won't be due until May 2005.

HTH

edited to add:
This is a very informative thread.

 

[captainhook]

I might be mistaken but when we were looking into SSR our guide said that we would still have to put down a deposit of 20% - that the credit for the '04 points would be deducted from the amount that we were financing. (or you could take the points for a free vacation!) Just to clarify

 

[pakdayton]

happy news ...

we bought at SSR today ... charged my $500. deposit and paperwork is on the way (also my backpack -yeah!)

couldnt go the resale route again ... but fingers are crossed for the "still-waiting-club"

we choose an august u/y so MF wont start until august 2005 (went with the $10 off per pt option)
also we secured our own financing so just making one lump sum payment to disney

did you know that you could borrow those points? ... apparently if i couldnt wait until 8/05 i could borrow pts before ... cool

i tried for an AP or two ... no good (members only adding-on - but i knew that)

i asked about a second theme pool (guide "hadnt heard that one")

i hinted about possible ticket discounts (answer was "we're hopeful")

she did say that it was "doubtful monorail would be expanded to SSR/DTD"... where did that come from? i never imagined it would ... but apparently it was in the "way-back" plans ... bummer... now i miss something i had never even considered (human nature is funny)


thanks for everyones support
anne

 

[tjkraz]

Originally posted by pakdayton
she did say that it was "doubtful monorail would be expanded to SSR/DTD"... where did that come from? i never imagined it would ... but apparently it was in the "way-back" plans ...

You'll see something mentioned in the Public Offering Statement. They have an easement to extend the monorail through SSR to DD. I agree--it would be kinda foolish today to think that this might really happen.

When you consider how many busses WDW could purchase for the construction cost of the monorail track alone, it's hard to envision such a project ever getting a green light.

Oh, BTW, congrats and Welcome Home!

 

[kimpossible]

pakdayton...congrats!


Question for the rest

My seller (private resale...not through a broker) just e-mialed me to say that Disney received our paperwork and that we would should know something in about 20 days. They also told him that he still has 55 points left for '04. (175pts/Apr. UY)

The problem is..when we made the offer of $75, all closing costs, and seller would pay mf's on '04 we didn't think there were any points coming.

Do you think we are still okay or should we pick up some mf's?

Kim

 

[pakdayton]

kim ... you're paying 75 per pt
i heard (from my broker) that most contracts below 72 werent passing ... so probably you are okay

good luck

 

[carlos1117]

Pakdayton,

Anne,

I'm happy for you! That's great news. I'm sure you'll be happy at SSR and most importantly happy with your decision.

Again, congrats!

PS. This doesn't mean you should stop sending Pixie Dust for me Amy and Kim!


Mike

 

[pakdayton]

mike, amy, kim ... look above

but fingers are crossed for the "still-waiting-club"

pixie dust too!!

 

[AmyBeth68]

Congratulations Anne! I'm really really happy for you. I believe that things happen for a reason, so you were meant to be at SSR . I had my hopes WAY up to hear some news of my own today. But no luck! LOL. You guys have to know that I am the world's most impatient person. This ROFR wait is making me crazy .

To Mike and Kim: I'm thinking of you guys.....I sure do hope it's good news all around for all of us "waiters" on this thread!

 

[carlos1117]

Amy,

This is our week! I couldn't bear to wait over that long Labor Day weekend.

Keep us posted!!!

Mike

 

[Deep-Thots]

Hi, pakdayton --

Congratulations!! Woo hoo!!

Welcome home to the SSR family!!!!

 

[kaw1106]

Pakdayton,

Congrats!!!

As for everyone else here in ROFR limbo.....pixie dust.....

Kathleen

 

[RuthnPaul]

PakD: Congratulations on your decision to go with the "sure thing" at SSR! Hope everyone else gets the GOOD word from Disney this week on ROFR...

 

[MartinToronto]

Had an interesting chat with my guide today

We orginally signed up with her for 250 points at SSR, taking the $10 credit, use year March 2005.

After reading these boards, we decided to go for a BCV resale - currently in ROFR, brokered through the timeshare store

anyway - I rang to say SSR was on hold - she said no problem etc she would not cancel the contract until we passed ROFR, by the way don't forget about the extra 12 years etc - all good points.

Then she called me back and said not to be too disapointed if we did not pass. She had spoken to her manager and he said lots of BCV were being bougt back - mentioned a price of $75 - we are at $77.

Do you think giudes can get you ROFRed if they know you might come back to them for SSR ? She seems too nice for that - but who knows ??

 

[MartinToronto]

double post

 

[AmyBeth68]

I was wondering the same thing. I'm definitely not sure about that.

 

[kimpossible]

I spoke to a guide this week too, and it was making me really nervous. (She was getting way too much info out of me). She assured me that she had nothing to do with ROFR, although very aware of the process. According to her there was an equation (unfortunately, I cound not follow it) plus other criteria. However, the previous post from LIFERBABE sounded very much like the logic she was explaining to me when trying to get me to purchase resale through DVD.

Originally posted by LIFERBABE
IMHO, it was the seller paying 1/2 MF's that made your package more attractive. Disney could care less about a contract being stripped, as there are so many members that dont manage their points and lose them and DVC can make any contract whole, by using these lost points. Anytime the seller is willing to cover costs, that's just bringing DVC's cost to purchase that contract lower.

So when a Seller pays MF's that brings DVC's cost down to ROFR the contract. I would take all the costs into consideration and total the cost per point to know the true value of your next package.

With your new offer of $72, even with you paying closing, your total cost per point is $72. So the 1/2 MF's are equivalent to the seller paying your closing thru the eyes of DVC. That puts your point spread at $18 ppt (from $89) Most get by with a $10 to $15 point spread.

 

[GeoffM24]

The wife and I will not become DVC members if we get ROFRed on our current BWV contract at $73. We already got a VWL taken last month at $70.

We have no interest in SSR and will not pay $89 for the others.

Hopefully we get through but if not we will back out.