Chicagosfinest 170 BCV @ $66 + me = addonitis.
OMG! I hqd not read far enough back to realize that BCV @ $66 has already paased.
What is Disney doing???
Woo Hoo! I passed ROFR yesterday. 150 points at SSR at $58/point. All points for 2011 (no banking or borrowing). March UY; buyer pays closing and 2011 MF.
Contract was submitted to DVD on 4/5/11 and passed ROFR on 4/25/11.
Does anyone know how Disney prioritizes ROFR review? I have now heard about several people (here and on other forums) who have passed ROFR, but submitted contracts after mine. Do current members with add-ons get priority? Did Fidelity lose my contract and lie to me while they search under the couch to try and find my paperwork?
Very confused,
Doug
Well, I just heard back from Fidelity. Here's the history:
- I received an email on 3/30 saying my contract was submitted to Disney. (Yay!)
- Then, I received an email on 4/4 saying my contract was submitted to Disney. (Um... okay)
- Now, received an email today saying it was submitted on 4/11. (Who did what when how whyfor?)
So, I guess I'm still waiting.
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just received my closing docs for my 200 pt VWL resale. used Fidelity. heres the timeline.
made offer 3/15
offer accepted by seller 3/16
returned signed contract 3/16
seller signed & returned contract 3/17
sent to DVD 3/17
passed ROFR 4/5
received closing docs 4/26
signed and returned closing docs 4/27
woo. hoo. i did leave out the "numerous" emails and phone calls to both Fidelity and Timeshare Title and More. if you guys used these vendors, they are extremely behind with the workload. if you are in a rush, i suggest contacting them repeatedly and frequently.
hopefully everything else will progress quickly from here. we will be at the world 6/1-6/10 and hope to be able to take advantage of some of our member perks!
Our thanks to everyone's well wishing and good luck. We too were surprised that our $66/Point purchase for BCV passed ROFR. We paid $65/point for a boardwalk a month ago - now we see them going for $50 or $48 but at least we did good on the BCV. It seems obvious that right now if you can get a seller to agree to a price that it will pass ROFR (our BCV contract was a listing on eBay with no reserve). Fidelity also seems to have some good priced deals. It seems if you aren't in a hurry just make your offer.........this is a buyer's market. Really the problem is though that I think we all thought that the ROFR was there to protect the prices? Just think if you paid $100 point or more only to find out you could get it for half on the resale market.........I don't think that the cruises, adventurer, conceriege collections, etc are worth that much more. Anyone else have thoughts on this?
Can you tell me what ROFR is? Are you buying these points from the disney vaction club directly? If you're not how does that work.
Fidelity also seems to have some good priced deals.
You got a great deal, and I was very surprised to see this price allowed since BCV is the ONLY resort where Disney had been consistently exercising ROFR. Did they buy back enough for their liking? Or, did they contemplate some sort of expansion and then decide against it? Who knows. We just bought 200 pts at BCV for $84, and are already thinking about adding a resale contract and seeing if we can get a price around $65-$70.
As for your second point, people generally seem in agreement that the alternative uses for the points are not an effective way to use them. The best place is in WDW. For the cruises, many recommend renting the points and using the proceeds to pay cash for the cruise--and some have showed how doing this can pay for the cruise and leave spending money left over. So if the same number of points will either just cover the cruise or cover the cruise and give you back $800, obviously that's the better option. However, some find that they have a lot of points and use them all different ways. I spoke to my guide for awhile last night, and she uses points frequently to travel to NYC and stay at the Regency via the Concierge collection. So, people do as they wish.
I believe that prices will continue this trajectory downwards unless Disney implements ROFR. Even a token buy back will halt the decline, at least temporarily. If they bought a BWV contract at $50, you'd see a lot of resales staying above that number. Just as they set a floor at BCV at $83, and everybody was offering at or more than that number for awhile...until you broke the floor!
Congrats again, we'll see you at BCV! You have great taste, if I may say so myself!