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

[Countryrunner262]

It's a different kind of funny from my perspective. I got two fully loaded BWV contracts direct, 50 point each, in relatively short order. Points loaded before I even signed a contract. After incentives I paid $94/pt. I see severely stripped resale contracts of the same size advertised at $98/pt and SOLD instantly, and I see ROFR after ROFR of people determined to go the resale route. Direct has worked great for me, and resale appears to be a sad, losing game at the moment.

Sad for some. We had a great resale experience. Same holds true for direct, some are happy, some not.

 

[dmunsil]

It's a different kind of funny from my perspective. I got two fully loaded BWV contracts direct, 50 point each, in relatively short order. Points loaded before I even signed a contract. After incentives I paid $94/pt. I see severely stripped resale contracts of the same size advertised at $98/pt and SOLD instantly, and I see ROFR after ROFR of people determined to go the resale route. Direct has worked great for me, and resale appears to be a sad, losing game at the moment.

I agree that for small contracts direct and resale prices are closer, but it's not really a "losing game." The direct price is $130 with no incentives for BWV right now, and reports are the wait list is 2-3 months. And the going price even for small BWV contracts is not $98 or anything close to it. The only 50-point BWV sale recorded so far in Jun sold for $78. In May, the 50 point and smaller contracts sold for $64, $80, $84, $83, $74, and $80. Even the highest price of $84 is a 35% discount off the full price from Disney.

So overall, I'd say resale is still a good deal, even for small contracts. For folks who are on the waiting list who are grandfathered into the incentives they had a few months ago, the discount wouldn't be quite as good, but no one is getting points for $84 from Disney.

 

[greengeen]

.. the going price even for small BWV contracts is not $98 or anything close to it...

It is for small contracts, I'm not making it up. I can't remember which site I saw the $98 sell instantly on, but I still have an email blast for an almost-instant sale at $95 on June 11. And the closing cost of $400 is more than I paid in closing for both of my contracts direct:

SOLD. No longer available:

Boardwalk Villas 30 $95 December
22 points for 2013 + 30 for 2014 + 30 for 2015. $2,850
Closing costs are apprx. $400, annual dues are $5.84 per point
ID#9BW32

 

[greengeen]

My mistake! It was BCV at $98/point sold instantly:

Sold, no longer available.

Beach Club Villas 30 $98 October
30 points for 2013 + 30 for 2014 + 30 for 2015. $2,940
Can close after 10/10/13.
Closing costs are apprx $375, 2013 dues are $5.65 per point
ID# 9BC52

 

[dmunsil]

It is for small contracts, I'm not making it up. I can't remember which site I saw the $98 sell instantly on, but I still have an email blast for an almost-instant sale at $95 on June 11. And the closing cost of $400 is more than I paid in closing for both of my contracts direct:

SOLD. No longer available:

Boardwalk Villas 30 $95 December
22 points for 2013 + 30 for 2014 + 30 for 2015. $2,850
Closing costs are apprx. $400, annual dues are $5.84 per point
ID#9BW32

Oh riiiight, I do remember that. It just hasn't closed yet so we haven't seen the deed recorded. I still say that's an outlier. That's not a common case. Someone just got frustrated about not seeing any small contracts and jumped on the next one they saw.

It's still cheaper than $130. The folks who bought that for $98 are going to be enjoying their points sooner (probably) than the folks who are getting on the Disney wait list today.

And how long ago did you get BWV for $94? What was the going price for BWV resale then?

 

[lovin'fl]

Oh riiiight, I do remember that. It just hasn't closed yet so we haven't seen the deed recorded. I still say that's an outlier. That's not a common case. Someone just got frustrated about not seeing any small contracts and jumped on the next one they saw.

It's still cheaper than $130. The folks who bought that for $98 are going to be enjoying their points sooner (probably) than the folks who are getting on the Disney wait list today.

And how long ago did you get BWV for $94? What was the going price for BWV resale then?

Yeah, BWV 50 point contracts are $130pp...no incentives. Back, pre-March increase, I think it was $115pp with incentives for 100 points or more (may have been 50 points or more?). Incentives were 5 day park hoppers for 4 (I think)...which would put a 50 point contract around $95pp...but I thought you had to buy 100 points (which with incentives would have been $105pp back then)...and BWV resales were in the $60s back in the early spring and even now they are going in the $70s....direct is $130 and has a LONG waiting list (some on there since Feb).

 

[nabi]

Congrats to those who passed ROFR!

 

[greengeen]

Incentives were 5 day park hoppers for 4 (I think)...which would put a 50 point contract around $95pp...but I thought you had to buy 100 points (which with incentives would have been $105pp back then)...

I bought during the March incentive. Two 50 point contracts qualify you for the 100 point incentive (park hoppers). I got $1000 "developer credit" and also got 1% rewards by charging to my Disney Visa, with 6 months no interest, at which points I'll pay the full balance. One contract took 6 weeks and one took 3 months. But, no waiting for ROFR or points to load. Already used the 2012 points from the first contract and half of the second, so I have some to bank for next year.

 

[dmunsil]

I bought during the March incentive. Two 50 point contracts qualify you for the 100 point incentive (park hoppers). I got $1000 "developer credit" and also got 1% rewards by charging to my Disney Visa, with 6 months no interest, at which points I'll pay the full balance. One contract took 6 weeks and one took 3 months. But, no waiting for ROFR or points to load. Already used the 2012 points from the first contract and half of the second, so I have some to bank for next year.

In March, 50-point contracts were going for 72-76 per point. 100-point contracts were going for 68-72. The highest price that was ROFRed was 69. And you would have gotten your 100 points sooner.

So overall I'm not seeing the downside of resale over direct for sold-out resorts, even for small contracts.

 

[bkoehl]

Here's our resale journey through Fidelity:

2/19/2013 offer accepted by seller AKV, 180 pt, $65pp, Dec UY, all points available from 2012, seller pays closing, buyer pays maintenance

3/6/2013 sent to Disney for ROFR

4/2/2013 Disney waived ROFR

5/17/2013 Closed and Disney informed of sale

6/8/2013 Got letter from Disney with number!

 

[Sheri in CT]

Here's our resale journey through Fidelity:

2/19/2013 offer accepted by seller AKV, 180 pt, $65pp, Dec UY, all points available from 2012, seller pays closing, buyer pays maintenance

3/6/2013 sent to Disney for ROFR

4/2/2013 Disney waived ROFR

5/17/2013 Closed and Disney informed of sale

6/8/2013 Got letter from Disney with number!

Almost 4 months???? Yikes

 

[greengeen]

In March, 50-point contracts were going for 72-76 per point. 100-point contracts were going for 68-72. The highest price that was ROFRed was 69. And you would have gotten your 100 points sooner.

So overall I'm not seeing the downside of resale over direct for sold-out resorts, even for small contracts.

I watched the resale market for two years and NEVER EVER saw what I was looking for on any of the 4 sites I monitored. It was a waste of my time. I wouldn't have found one loaded contract in my use year that size let alone two. That's the downside. As for getting my 100 points sooner through resale, ask bkoehl (or almost any resale buyer) how that worked out for them.

 

[Kidanifan08]

Here's our resale journey through Fidelity:

2/19/2013 offer accepted by seller AKV, 180 pt, $65pp, Dec UY, all points available from 2012, seller pays closing, buyer pays maintenance

3/6/2013 sent to Disney for ROFR

4/2/2013 Disney waived ROFR

5/17/2013 Closed and Disney informed of sale

6/8/2013 Got letter from Disney with number!

What is the explanation for the 45 days between ROFR and closing? That seems a little atypical.

 

[lovin'fl]

Here's our resale journey through Fidelity:

2/19/2013 offer accepted by seller AKV, 180 pt, $65pp, Dec UY, all points available from 2012, seller pays closing, buyer pays maintenance

3/6/2013 sent to Disney for ROFR

4/2/2013 Disney waived ROFR

5/17/2013 Closed and Disney informed of sale

6/8/2013 Got letter from Disney with number!

Yikes! I guess Fidelity waived the $195 admin fee. I added you to the list on page 162. Have fun using your new points!!

 

[Timeflys4us]

My mistake! It was BCV at $98/point sold instantly:

That is correct - I was the person that bought that 30 point contract. After I did, I was told that there were 3 other persons that offerred the full price but just had not made it in time. I also agreed to pay the maintenance fee and the closing cost charge. I have been waiting for over 3-1/2 months without any word from Disney as to when, or even if, they would be selling me 25 points I had signed up for at the $115.00 price. There is still a chance that Disney will exercise its ROFR, but I doubt it as I have seen other contracts go through at far less cost per point and with the seller paying for the maintenance fee and closing costs. And even if they so, I still have about 2-1/2 months left on the waiting list at the old price, so I see it as a win-win situation.

 

[PaxsMom]

We passed ROFR!!!! BCV -- 320 Points. $75 a point. April UY. They have 72 points remaining in 2013. Seller pay closing costs and MF on remaining points. I did email Fidelity to re-confirm this due to the "mistakes" that were made in emails last week. I hate to get all excited and have someone say "oh, my bad -- Disney took it"

 

[lville23]

lville23 --- 105 BLT (Dec), $87, 66 '12 pts (banked) and all forward, buyer pays 2013 mf and closing (sub 5/23)


Just heard from broker that we passed Disney's ROFR.

 

[lsbgvadvcer]

Just got word that we passed ROFR! 120 BCV points, April UY. 106 2013 points and all going forward. We paid MF on the 106 plus half closing and seller paid other half. Submitted to Disney on 5/22, waived on 6/17, so 26 days.

Timeline;
4/23 - I spot a BCV contract that looks good on Fidelity during my usual 'just taking a look' session, but we're not sure time is right to add-on
4/29 - We finally decide that if we really want BCV or BWV we should do it sooner rather than later so we can enjoy longer
4/30 - Same contract is still on Fidelity website so I call. Turns out deal fell through night before so it must be meant to be! I make an offer
5/1 - Seller counters
5/2 - We counter back, seller counters again and we accept. I get email from Sharon for info and we're told contract will be to us within 5 days
5/13 - Contract finally arrives, we sign and return first thing on 5/14.
5/20 - Notified that seller returned contract and it is going to Disney for ROFR today.
5/22 - Oops, notified that contract REALLY went to Disney today....
6/17 - Email from broker that Disney waived ROFR and we're headed to closing!!!! Yay us!!!

 

[NoleFan]

We passed ROFR!!!! BCV -- 320 Points. $75 a point. April UY. They have 72 points remaining in 2013. Seller pay closing costs and MF on remaining points. I did email Fidelity to re-confirm this due to the "mistakes" that were made in emails last week. I hate to get all excited and have someone say "oh, my bad -- Disney took it"

AWESOME- Congrats!!! Welcome home neighbor!!!! Enjoy those points!!!

 

[PaxsMom]

We passed ROFR!!!! BCV -- 320 Points. $75 a point. April UY. They have 72 points remaining in 2013. Seller pay closing costs and MF on remaining points. I did email Fidelity to re-confirm this due to the "mistakes" that were made in emails last week. I hate to get all excited and have someone say "oh, my bad -- Disney took it"

Just confirmed.. it is official! Now lets hurry up on the closing docs!!