Anyone made it through (or not made it through) ROFR recently? - Section I

[JimMIA]

This has probably been asked somewhere before, but I will ask anyway. I am new to the boards and have been reading some of this thread (although very lengthy) and have come to understand that ROFR has something to do with purchasing of resale contracts. Is this correct?

What exactly does the acronym ROFR mean?

Also, could someone explain this process to me so that I am clear on how it works? Thanks in advance.

Hi Leslie,

I'm sending you a PM to answer the above questions.

 

[Beca]

This has probably been asked somewhere before, but I will ask anyway. I am new to the boards and have been reading some of this thread (although very lengthy) and have come to understand that ROFR has something to do with purchasing of resale contracts. Is this correct?

What exactly does the acronym ROFR mean?

Also, could someone explain this process to me so that I am clear on how it works? Thanks in advance.

Hi,

Welcome to the dis!!

ROFR stands for "Right of First Refusal". Basically, it is this...DVC sells contracts to people. If those people ever want to sell their contract to someone else, they must get a signed contract from that person, and then the parties involved must submit the contract to DVC. DVC retains "first right of refusal" rights. Basically, once you have a signed contract, Disney can take it if they want it.

There is a process where you submit it to them, they then have 30 days to decide whether or not they want to buy it from you. If they want it...it is theirs. If they choose not to buy it, the contract proceeds between the two parties.

No one knows for sure what DVC's criteria is for buying back properties, so I started this thread to help people in the middle of the ROFR process to figure out what they were comfortable bidding, and about how long it will take for them to hear from DVC. ROFR is a long and stressful process.



Beca

 

[JimMIA]

Wow! You told her the same thing I told her in my PM! That may just be the first time anyone on these boards has EVER gotten the same answer from two people about anything!

 

[jjnv]

PS Oh, and it was submitted on Feb 17

Thanks for your post, WithDisneySpirit.

I got nervous cause my contract was submitted on Feb 10. So I called the closing company and found out that we passed ROFR too.

 

[Stitch 03]

Just found out. My contract passed ROFR

Now hopefully the closing process will be quick. I have a trip in May in which I need to still book a room.

I now own, at least once this contact closes, a grand total of 142 OKW points. Probably safe to bet that not many other people can say they own 142 points.

 

[Beca]

Congrats, Stitch 03 and jjnv!!!

Here's an update:

PASSED:
Bobbiwoz - 50 VWL $77 all '05 points intact (mid-Jan)
leise - 100 OKW $76 (1/19, in less than 10 days)
Amanda C - 70 HHI $70 all '05 points intact (mid-Jan)
Scotch - 1) 160 BCV(Apr) $78 4 '04, and all '05(sub. beg of Jan, passed 1/21)
MickeyBabe - 190 OKW $72 (went to DVC 12/22, passed 1/03)
jtiggercat - 130 OKW $72 (Oct) all '05 (went to DVC 1/11, passed on 1/24)
TinkTatoo - 78 OKW $73 (June) all '05 (sub. early Jan, passed in 1 wk)
Tink10 - 25 BWV (Aug) $78 all '05 (sub 1/14, passed on 2/2)
hannahr - 250 OKW (Oct) $74, 75 '03, all '04 & '05 (paying half of '04 MF's) (sub 1/12, passed 2/2)
Daname - 160 BWV $78 with banked 2004 (sub.1/21, passed 2/3)
happyatdisney - 150 HH $71(Dec) 131 '03 all 04 & 05 (passed 2/3)
Blue&Gold - 350 BWV (Dec) $78 '04 &'05 (sub. appx. 1/18, pass 2/3)
Cinderpals - 200 BWV $77 '04 pts, all '05 pts (went to DVC on 1/21, pass2/4)
Beca - 150 BCV (Aug) $83 all '05 + 137 '04 (went to DVC 1/24, pass 2/4)
triple7 - 100 BCV (Dec) $84 all '04 &'05 (sub. on 1/20, pass 2/4)
N&B'smom - VWL $77 (pass 2/4)
ScottLea94 - 205 HH $70 62 '04 all '05 (sub 1/21, pass 2/4)
NYsHiddenMickey - 150 BWV (Dec) $78 255 banked '03 & '04, all '05 (sub1/27, pass 2/9)
Cinderpals - 350 BCV (Mar) $81 21banked '04, all '05 (sub 1/21, pass 2/9)
DisZip - 150 VWL (Feb) $78 92 banked from '04 & all '05 (pass 2/9)
Iankh - 200 VWL (Aug) $76 55 banked from '04 & 181 of '05 (sub, 1/28 pass 2/9)
reesecup - 150 BWV $80 75 '03, all '04 & '05 (sub. appx. 1/26, pass 2/9)
Disneyrsh - 350 VWL (Apr) $75 (sub. appx 1/17, pass 2/9)
DVCforMe - 360 VWL (Aug)$76 144 '04 , all '05 (pass 2/9)
Tink Tatoo - 150 OKW (June) $74 150 banked '04, all '05 points(sub 2/7, pass 2/14)
Disneyrsh - 300 VWL (Apr) $75 (sub. appx 1/17, pass 2/14)
mcorbo - 200 VWL (Oct) $80 18 '03, all '04 , all '05 (sent 02/02, pass 2/14)
minnie33 - 200 VWL (April) $79 (sub 2/1, pass 2/15)
jbhaupt - 150 BWV (Oct) $76 all '05 (sub2/1, pass 2/16)
LauraLea - 80 VWL (Mar) $79 all 05 (sub appx. 2/8, pass 2/18)
Magicalfun - 80 BCV (Oct) $88 all '03, '04, '05 (pass 2/21)
Scotch - 140 OKW (Oct) $70 all'05 (Sub 2/8, pass 2/21)
amyah - 150 BWV (Jun) $78 all '05 (Sub 2/7, pass 2/24)
Stitch 03 - 60 OKW $75 (June) all '05 (sub appx 2/16, pass 2/28)
jjnv - 216 OKW $74 (Dec) all 04 banked,all '05 (sub 2/14, pass 2/28)
HONI - 230 OKW $75 230 banked '04, all '05 (sub 2/17, pass 2/28)

ROFR'D:
Diszip - 150 VWL (Aug) $75 all '05 + 8 '04 (ROFR'd on 1/20)
Kimber - 50 BCV $73 3 points coming in '05
Donald..really - 200 VWL $75
Mcorbo - 150 VWL $75 103 coming 04/05 (sub.1/07, ROFR 1/26)
disneydawn6 - 170 BCV $78 111 points June 2005 (on 1/26)
Scotch- 2) 150 OKW(Mar) $65 15pts. remaining in '05 (sub. 1/10, rofr 1/26)
(source KANSAS) - 150 BCV(Aug) $77 no points til '06, BUYER pay all closings cost, escow serivce, title insurance,etc+ $200 Disney Transfer fee, OC/$20/ROFR FEE
Greenban - 270 VWL (Aug) $76 all '03, '04 & '05 intact
kepps73 - BWV $77 ROFR'd 1/31(sorry, don't know anymore than that right now)
kelakash - 250 VWL $74 '04 &'05 (sub. appx. 1/03, ROFR'd on 1/31)
disgirl - 50 BCV $78 (Apr) no points 'til '06 (sub1/24, ROFR'd 2/10)
Scott H - 150 HH $69 no points till '06 (sub. appx. 1/19, ROFR'd 2/18)

WAITING:
JoeEpcotRocks - 150 BWV (Mar) $78 all '05 (sent 2/7)
Cinderpals - 200 BWV (Oct) $77 all '04 & '05 (Sub 2/11)
DisneyRose - 150 VWL (Sep) $80 all '04 '05 (Sub 2/14)
Al D - 200 BWV $80 all '04 & '05 (sub appx. 2/8)
Al D - 306 BWV $80 (Dce)186 '03, all 04 and 05 (sub 2/15)
Beca - 220 BCV (Aug) $83 no points 'til '06 (sub 2/17)
Magicalfun - 100 BCV (Aug) $83.50 no points 'til '06 (sub 2/17)
Colorado Belle - 170 BWV $80.5 all '04 '05 (seller pays some '05 MF) (sub 2/18)
Scott H - 200 HH $70 all '05 (sub 2/22?)
Amyup - 100 SSR (Dec) $80 all '04 and '05 (sub 2/22)
LauraLea - 90 BWV (Oct) $76 147 04, all 05 (sub 2/22)
jnrrt - 175 BWV (Jun) $78 51 '04 and all '05 (sub 2/23)
JimMIA - 310 OKW (Oct) $73, 149 '04, all '05, (sub 2/25)
monami7 - 50 HH (Mar) $75, all '05 (sub 2/25)
travelin' tigger - 50 OKW (Oct.) $78/pt. No '05, (sub 2/25)
DizWacko - 120 BCV (Dec) $84 75 '04, all '05 (sub 2/26)
RWinNola - 150 BWV (Mar) '05

 

[kimpossible]

Beca-

Didn't you just get that VWL? I think you just like keeping that ROFR thread alive lol

Best wishes to all out there. Be patient...it will happen (easier said once you've been through it.)

Kim

 

[Beca]

Beca-

Didn't you just get that VWL? I think you just like keeping that ROFR thread alive lol

Best wishes to all out there. Be patient...it will happen (easier said once you've been through it.)

Kim

Kim,

I just SOLD it!!! Can you believe it??!! When we went in Dec, we fell in LOVE with BCV, so I am selling my BWV and VWL to buy there!! I am SOO insane!! Gosh, things were SO much cheaper a year ago (or, even 6 months ago!).

I pm'ed you!!



Beca

 

[WithDisneySpirit]

Wow, you would think that after two edits, I would have noticed the strange way I said this What I meant to say is Disney has passed on my parents contract and they are waiting for closing papers from Jaki as I post So, thanks for posting their stats in the passed ROFR section!

Thanks!

 

[monami7]

I really did not expect to be so worried about passing. I am just excited I guess but this is really tough. I can't stand having no control.

 

[JimMIA]

I really did not expect to be so worried about passing. I am just excited I guess but this is really tough. I can't stand having no control.

You'll be fine. You have no control, but you'll be fine.

 

[Scott H]

022805 at 7:20 PM. Just got the call, we passed on the 200 points at HH, at $70 per point with all 2005 points available. Who woulda thunk

 

[monami7]

Scott H thanks for the news you gave me hope. Congratulations
I will be ok.

 

[Scott H]

Yes you will, this is only our second addon that is non disney procurred. First went easy, this one it was the third try that worked. SO the lesson is try try again and hang in there.

 

[jjnv]

I know my paperwork should come in email in 7-10 days. Do I just send a check with paperwork back? When is it due? Can I just use a personal check?

Thanks a lot for your help. I am so excited!

 

[monami7]

Congrats...more hope....Maybe I will hear this week....
Is everyone adding on points or are there first time buters out there? We are first timers.
Also where is everyone staying this year?

 

[Scott H]

jjnv, I am almost 100% positve that they will want a certified source of funds.

Not our first rodeo on the add on experience, have been to counseling for addonittis, didn't work. Be wary of the addon monkey when he gets on your back.

 

[iankh]

Kim,

I just SOLD it!!! Can you believe it??!! When we went in Dec, we fell in LOVE with BCV, so I am selling my BWV and VWL to buy there!! I am SOO insane!! Gosh, things were SO much cheaper a year ago (or, even 6 months ago!).

Hmm? I wonder whowas the lucky person who got that VWL?

 

[jnrrt]

Well, we're first-timers and I'm glad to see that we're not the only ones out there having trouble with the process. It hasn't even been a full week since we got the contract back to them, and I can't wait to know if we got this. I can't imagine doing this 3 times!

 

[Beca]

Hmm? I wonder whowas the lucky person who got that VWL?

I have a feeling you will "know" within a few days!!!



Beca