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

[Buckeye Fan]

Quick question...does anyone have the inside scoop on Disney's process? I'm just curious, as if they are rubber stamping most of these, why it is taking 3 - 4 weeks to hear something back. Obviously, it must not be as easy as a quick review and someone signing off.

So excited for everyone who just purchased points! Congrats!

P.S. DVCconvert...WAY TO GO! Sending extra pixie dust your way that it makes it through. I'm sure it will, as Disney hasn't bought back VB in a while (at least from what I can tell).

 

[lowe@massed.net]

Just passed!!!! 100 SSR April use year 100 2010 banked points, 100 2011, 100 2012 $59 a point buyer pays all fees

Nice joby, hardhead! Welcome home!

 

[lowe@massed.net]

Wippee. I just found out I passed ROFR. I purchased 120 points at SSR FOR $59 pp and I passed. Now I'm waiting for all my paperwork to go through. But I made it. IM GOING TO DISNEYWORLD !!

Congratulations and welcome home!

 

[lowe@massed.net]

Just got the email that we passed ROFR.

OKW 50 points (March) $68/pt, 0 points for 2011 and 50 points coming in 2012. Submitted 2/17 passed 3/14.

Now just have to wait on the closing papers. Still waiting for our BCV closing papers from last week.

Congrat's!

 

[lowe@massed.net]

I just got the email - Passed ROFR

300 OKW (Dec) $55, 125 '11 pts, pro-rated mfs for '10, buyer pays closing



(2 down, 2 to go! )

edited to add this was submitted on 2/21

Good going, DVCconvert! Fingers crossed for your other contracts!

 

[lowe@massed.net]

Just got the phone call that DVC passed on ROFR! Here are the details:

100 BCV with April UY, 100 banked points from 2010 and 100 2011 points coming on 4/1. I paid $85 per point plus I'm paying the MF's for 2011 as well as the closing costs. I really wanted this contact because it was exactly the number of points I was looking for, it was the same as my AKV UY, and it had points banked from 2010.

I was impressed with the timeline. The resale company submitted it to DVC on 2/27, and I heard back 15 days later!

Perfect, izzy! - and super fast! I'm hoping to hear soon on my BWV contract that went into ROFR on 3/1.

 

[lowe@massed.net]

Got the e-mail today that we passed ROFR. The contracted was submitted on 2/16/11. It is an August UY for 50 points at AKL for $85/pt. 43 points coming on 8/1/11 and 50 points 8/1/12 and each year thereafter. Seller pays MF on the 7 points used for 2011 and we pay the rest as well as closing costs.

I know, I know. . . we probably could have gotten this for less. But basically, we wanted a sure deal on a small point contract and we still saved $35/point over what we would have paid buying direct. This will really give us the added flexibility we were looking for when added to our existing points.

Good logic, Kidanifan, and you got just what you wanted, so congratulations!

 

[lowe@massed.net]

I am so excited!! We passed ROFR on an SSR 150 point contract which has 143 points from 2010 + 12 borrowed + 138 points coming in Dec 2011 and all Dec 2012 priced at $66 per point. Buyer to pay closing costs and MF's. Contract went to Disney on 02/17/11.
We are only a few weeks away from making our first Ressie!!!!!

Welcome home, ewebet! You're going to love SSR!

 

[lowe@massed.net]

passed ROFR.

to disney on 2/14/2011
back from disney on 3/14/2011

BLT $95/pt
100 pts
April UY

(loaded) all 100 pts for 2010, 2011 and 2012

good luck to those who are still waiting

Terrific - and more great Disney vacations for you!

 

[lowe@massed.net]

Just got word that our contract passed! We're current members at BWV and had a bit of addonitis.

210 AKV (Dec) $65, all 2010, 2011 points. Buyer pays closing, seller pays MF

Really nice deal. Congrat's!

 

[lowe@massed.net]

We passed! BWV 210 points, October UY, $59/point.

We're waiting on an Oct UY BWV contract to passed ROFR, submitted 3/1. You got a great price!

 

[lowe@massed.net]

Just got the email...
SSR 210pt, Feb UY, 200pt banked 2010, 210 pt 2011 and forward.
$53/pt. Sub 2/14, passed 3/14. Non member. Does it really take another 2 weeks just to get the closing paper works?

Wow, DonDon - nice contract! Welcome home, SSR neighbor!

We closed on 1/10 and yes, it took almost 2 weeks before the points were in our account and we could make our reservation. Hang in there!

 

[lowe@massed.net]

Got good news...
It passed ROFR.

SSR 200 pts, $52. 200 of 2010 pts, 200 of 2011, 200 of 2012
Buyer pays Closing, split MFs

Welcome to the SSR family, kawanku!

 

[lowe@massed.net]

Just wanted to let you know we found out today that we passed.


fers31------------- 25 BWV (Aug) $65, 22 "holding" '10 pts & no 11 pts, buyer pays closing (sub 2/18)

Hurray!

 

[lowe@massed.net]

Thank you!

I'm from MA.

Meet wife in Shrewsbury and own house in Southbridge still.

I knew there was something about you I liked. We're in N. Central MA, near Fitchburg.

 

[VickiVoice]

Quick question...does anyone have the inside scoop on Disney's process? I'm just curious, as if they are rubber stamping most of these, why it is taking 3 - 4 weeks to hear something back. Obviously, it must not be as easy as a quick review and someone signing off.

I have my own theory - my own personal theory - about this. I think Disney approves or exercises ROFR in bulk - once or twice a month and the resale companies stagger the notification to their clients. This streamlines things in their office and I'm sure someone somewhere is making some money on the interest for all of those deposits. I'm not criticizing - they're running a business and they're very up front about the timeline from the beginning. I just don't think there's a roomful of CM's poring over these contracts every day the same way we're poring over the lists of approved contracts and praying that ours is next!

 

[b-1]

B-1------------- 150 BWV (JUN) $55, 8 points 2009 expiring may 31, 2011, 150 points banked into 2011, and 150 points for 2011. buyer pays MF for 2011 and closing. (sub feb 10, passed march 14)

this is an add on and we haven't even used our initial purchase yet!!!!

 

[dbs1228]

Quick question...does anyone have the inside scoop on Disney's process? I'm just curious, as if they are rubber stamping most of these, why it is taking 3 - 4 weeks to hear something back. Obviously, it must not be as easy as a quick review and someone signing off.

The other factor is these are legal and binding contracts, DVC has to make sure that what is in the contracts, name, points, UY etc... are accurate or they kick them back to the resale company for proper titling, points etc.... It is not just a matter of nope we do not want it next....

 

[mjc2003]

I have my own theory - my own personal theory - about this. I think Disney approves or exercises ROFR in bulk - once or twice a month and the resale companies stagger the notification to their clients. This streamlines things in their office and I'm sure someone somewhere is making some money on the interest for all of those deposits. I'm not criticizing - they're running a business and they're very up front about the timeline from the beginning. I just don't think there's a roomful of CM's poring over these contracts every day the same way we're poring over the lists of approved contracts and praying that ours is next!

I disagree. Disney has said they can and often do take up to 30 days. Since most people find out at the 25-30 day mark, I doubt the resellers are holding back info. I think there is a natural staggering of notifications simply by the nature of when deals are consummated.
This also wouldn't work during a majority of the time when there is not this sort of rush to buy resales. If you go back a few months, and more specifically over the past few years, the resale market has been steady but unspectacular.

I think it's far more likely that the process Disney uses for ROFR is time consuming. They have to assure a clean title and a clear deed, which is out of their hands; in this event they are relying on the municipality for information. Orange County has to do this for them, so I'm sure there is a delay there.
I think the delay is simply the logistics of the process. If you've ever bought or sold real estate of any kind, you'll remember that there are often significant delays over what appears to be trivial issues. We waited an extra four weeks to buy our house b/c of a discrepancy on an easement.

Of course....this is just my theory! And yours might be true, who knows.

 

[VickiVoice]

Of course....this is just my theory! And yours might be true, who knows.

Oh c'mon - your theory is filled with logic - mine is filled with conspiracy - it's more fun!

We found out we passed on Sunday afternoon. When I called the resale agent on the Friday before, (I couldn't stand it anymore! I just needed to reassured we were close.) She told me that we were right there on the top of the stack of people who would be finding out soon. We would be "getting good news very, very soon." The thought that the ROFR decision-makers were meeting on a Saturday and then passing the information to the resale agent on a Sunday afternoon didn't make sense to me. These folks sure work hard!

I totally appreciate your point that there are a LOT of details that need to be worked out on a deal like this. When so much of it goes on so far away and seems to be fairly easy on our end, it's easy to over-simplify the process. I haven't purchased real estate of any kind for 13 years, and that process was invasive and complicated! (It's always invasive when you're financing!)

I don't like the waiting, but I sure appreciate how relatively easy this has been for us so far. It makes all of these daydreams about what we're going to do on all these vacations all that more fun!