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

[kenspidey]

I did the same thing and I have no regrets. I knew I was paying more on a smaller 100 point contract but I wanted to be pretty sure I would pass as I am planning a trip to Disney in Sept regardless. So the upside is you should breeze through ROFR and have paid 40% less than buying direct. Sounds like a win to me : O )

 

[maburke]

As you'll see, I was an engineer before I was a real estate agent. A little nerdy, but I think it's a realistic way to compare resale contracts.

DVC Contract Point value calculations
Looking for the AVP or actual value per point, of a contract.
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XP = Extra points available with the contract, from previous years, ex. 2011, 2012 points
MP = Missing points from the contract, from this year or future years, ex. 2013, 2014 points
AD = annual dues/point for the resort
CP = number of points on the contract each year
AP = asking price per point for the contract
AVP = actual value per point of the contract
------------------------------------------------------------------------------------------------------------------------
IF there are Extra points (points available outside of the current year – now 2013)
AP - ((XP x AD) /CP ) = AVP

AVP should be more than the AP.
Hint – if there are exactly a year’s worth of extra points, the AVP will just be the AP – AD.

IF the contract is missing points (no points for the current year, or even next year)
AP + ((MP x AD) /CP ) = AVP
AVP should be less than the AP.
Hint – if there are exactly a year’s worth of missing points, the AVP will just be the AP + AD.

If the contract has no extra or missing points, the AVP is the AP – no math needed.
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You could take this one step further, and use $11 instead of the AD, if you were planning to rent the points out.

I'm not sure why you start with the asking price. If you're trying to figure out the actual value, I would think you'd use something consistent, like, "what I think a contract at this resort is worth per point." Then you can compare contracts and make an offer based on what you think it's worth, not so dependent on whatever price tag each seller is using.

Also, I think UY has to come into play somehow. Not only does UY make a difference to a lot of buyers in terms of matching their other contracts, I think you can't treat, say, a Dec contract with no 2012 points the same as a Feb contract with no 2012 points. And yet all dues are due in January. Hmmmm.

 

[fmer55]

Well after looking at this thread after my contract was sent to ROFR, i think i may have chosen poorly. I asked the realtor if that was a reasonable price, she said yes...and i've never haggled a price for anything in my life. I think i may need a mentor when looking for our next contract. We'll be looking for a larger one then. So here goes...

SSR 55 point stripped contract no points till August '14, seller pays '13 MF, Buyer pays closing. $60 per point.

Nothing wrong with your contract for that little number of points, you did well.

Enjoy

 

[moreisgood]

I'm not sure why you start with the asking price. If you're trying to figure out the actual value, I would think you'd use something consistent, like, "what I think a contract at this resort is worth per point." Then you can compare contracts and make an offer based on what you think it's worth, not so dependent on whatever price tag each seller is using.

Also, I think UY has to come into play somehow. Not only does UY make a difference to a lot of buyers in terms of matching their other contracts, I think you can't treat, say, a Dec contract with no 2012 points the same as a Feb contract with no 2012 points. And yet all dues are due in January. Hmmmm.

I totally agree. But, from what I see, there is no true comp info out there. I believe there are transactions on the county website, but without knowing what the terms are, it's not very useful information.

As everyone has agreed, the info at the beginning of this thread, probably shows some of the lowest prices out there. And while we all want a steal, sometimes you have to settle for what you can get when you want. In the big pictures, these are not big numbers we're talking about, unless you are buying a huge contract. A $5 difference in price for a 100 pt contract is $500.

The only thing I could come up with was how to compare currently offered contracts.

Also, is there a list of most desireable UY to least desireable UY, with weight percentages? I'd love to see it.

 

[fmer55]

I totally agree. But, from what I see, there is no true comp info out there. I believe there are transactions on the county website, but without knowing what the terms are, it's not very useful information.

As everyone has agreed, the info at the beginning of this thread, probably shows some of the lowest prices out there. And while we all want a steal, sometimes you have to settle for what you can get when you want. In the big pictures, these are not big numbers we're talking about, unless you are buying a huge contract. A $5 difference in price for a 100 pt contract is $500.

The only thing I could come up with was how to compare currently offered contracts.

Also, is there a list of most desireable UY to least desireable UY, with weight percentages? I'd love to see it.

And that $500 is going to pay for my new NEX3 so I can chronicle my 'memories'

 

[elcid3]

I totally agree. But, from what I see, there is no true comp info out there. I believe there are transactions on the county website, but without knowing what the terms are, it's not very useful information.

As everyone has agreed, the info at the beginning of this thread, probably shows some of the lowest prices out there. And while we all want a steal, sometimes you have to settle for what you can get when you want. In the big pictures, these are not big numbers we're talking about, unless you are buying a huge contract. A $5 difference in price for a 100 pt contract is $500.

The only thing I could come up with was how to compare currently offered contracts.

Also, is there a list of most desireable UY to least desireable UY, with weight percentages? I'd love to see it.

thanks for all the info. to clarify since I made a mistake an earlier post, we did get all the points for 2011, 2012, and 2013 without paying maintenance fees. Now we just need to get through closing quickly because the 2011 points expire at the end of May!

 

[333disneymom]

Well after looking at this thread after my contract was sent to ROFR, i think i may have chosen poorly. I asked the realtor if that was a reasonable price, she said yes...and i've never haggled a price for anything in my life. I think i may need a mentor when looking for our next contract. We'll be looking for a larger one then. So here goes...

SSR 55 point stripped contract no points till August '14, seller pays '13 MF, Buyer pays closing. $60 per point.

You got your contract for a much lower price than you would if you bought it from Disney, so I would not worry much. Also, small point contracts often go for higher prices per point.

Sent from my iPad using DISBoards

 

[ELMC]

Well after looking at this thread after my contract was sent to ROFR, i think i may have chosen poorly. I asked the realtor if that was a reasonable price, she said yes...and i've never haggled a price for anything in my life. I think i may need a mentor when looking for our next contract. We'll be looking for a larger one then. So here goes...

SSR 55 point stripped contract no points till August '14, seller pays '13 MF, Buyer pays closing. $60 per point.

I think this is a good learning experience for you. You definitely saved money over buying direct, but you also paid much more than you needed to. Keep in mind that brokers are transaction brokers. They are not obligated to get the seller more money and they are not obligated to save you money. In all actuality, the broker was honest in that $60 pp is a fair price for a SSR contract. What they didn't do was guide you through the process of calculating the contract's real value. That is outside the scope of their responsibility in my opinion. Anyway, congrats on your contract and good luck with a speedy closing.

 

[dbs1228]

Congrats to all who have gotten great contracts! My DH gave me the go ahead a few weeks ago to find a BWV contract mid to large point and I have not even seen any listed long enough to make an offer never mind get these kinds of deals! I guess I have to sit tight and keep looking - it is not easy

Well I guess I did not wait as long as I thought I would!

Surfing the web yesterday and plugged in dvc resales and it brought me to a web page I have never been on before. Under BWV there were about 7 listings and one was BWV 222 points for 12210.00 - I did the math and realized it was selling for 55.00 a point so I called the 800 number. To my surprise it was Fidelty. When I inquired about the listing I was asked where I saw it since they had not updated their site yet - I told her where I saw and actually filled out the form at the bottom to make an offer. Since I saw the listing on another sight Fidelty said they could give me all the details of the contract. Got the call a little while later that I got the contract!

BWV Feb UY 222 points all 2013 in tact all points going forward $55.00 PP I am paying closing and 9 months of dues seller is paying first 3 months of dues. The waiting begins hope all goes well

 

[radmcg]

Made offer January 14th. got email closed feb 26. Hopefully will have points by 3/12/13. Less than 2 months from offer to points in the account. Not to bad.

 

[DannysMom]

BWV Feb UY 222 points all 2013 in tact all points going forward $55.00 PP I am paying closing and 9 months of dues seller is paying first 3 months of dues. The waiting begins hope all goes well

Nice deal! Good luck with ROFR.

 

[Acme]

After lurking on here and trying to gather info, we made an offer on a VGC contract. It made it thru ROFR yesterday. 240pts, August UY, all 2013 points- $88/pt w/ seller covering partial MF for 2013. Thanks to everyone on these boards for helping us to better understand the resale market

 

[dbs1228]

Congratulations Acme great deal and Welcome home! Enjoy

 

[disneysled]

Hi - new to the boards - just started looking for our first contract. A week or so ago I think I saw a link to a list of accepted contracts and those that were rofr'd over a longer period of time - can anyone direct me to where that was?
Thanks

 

[Mousewerks]

Look at the very first post of this thread...

 

[liball3]

Very pleased to report we passed ROFR this week! Have been very pleased using site **********

Villas at Wilderness Lodge 175 $63 Sep (175 points for 2012 + 175 for 2013 + 175 for 2014. $11,025)

 

[macemc12]

Hi - new to the boards - just started looking for our first contract. A week or so ago I think I saw a link to a list of accepted contracts and those that were rofr'd over a longer period of time - can anyone direct me to where that was?
Thanks

There is a list on page 47 of this thread

Sent from my iPhone using DISBoards

 

[Mrwiedel]

I have utilized this board extensively in getting up to speed on dvc and appreciate the help. Contract just sent for BLT 250 Mar pts with 100 banked points at $78/pt. Seller pays closing. Will post results.

 

[moreisgood]

Well I guess I did not wait as long as I thought I would!

Surfing the web yesterday and plugged in dvc resales and it brought me to a web page I have never been on before. Under BWV there were about 7 listings and one was BWV 222 points for 12210.00 - I did the math and realized it was selling for 55.00 a point so I called the 800 number. To my surprise it was Fidelty. When I inquired about the listing I was asked where I saw it since they had not updated their site yet - I told her where I saw and actually filled out the form at the bottom to make an offer. Since I saw the listing on another sight Fidelty said they could give me all the details of the contract. Got the call a little while later that I got the contract!

BWV Feb UY 222 points all 2013 in tact all points going forward $55.00 PP I am paying closing and 9 months of dues seller is paying first 3 months of dues. The waiting begins hope all goes well

What was the site that you saw the listing on?

 

[psac]

Thanks for the encouragement. This is another lesson learned for us. When we had DVC before, we had a LOT of points and we financed.

Now that we're starting all over, we wanted to do things right with paying outright with smaller contracts this time, and to start out slow, paying low MF's, and gradually building up. Now we just have to learn the "art of dealing" i guess.

As others have said, don't feel bad. Our first contract we offered $2 under listing and were happy when they took it. The contract we're waiting on now we offered $8 under because we thought $4 under was a fair deal, and we were expecting them to counter. They took the offer outright. Like you said, you learn.

Also remember the broker makes commission off the sale. The higher the sale, the higher the commission. A higher rate is better for them, but of course they would still rather sell low than have the contract sit there unsold.