Chance of being ROFR'd at Old Key West?

[Martinvols]

What is the chance that a 520 point contract at Old Key West will be refused by Disney at the rate of $60/point? Is Disney more forgiving on large point contracts such as 520 points?

 

[DebbieB]

At $60 per point, I think there's an overwelming chance they will ROFR it. Don't forget, DVC can breakup the points if they take the contract. They don't have to resell the 520 points in one sale.

 

[JimMIA]

Even before the recent price increases, they were ROFRing $72 routinely. If you haven't already, you should check Beca's ROFR thread here http://www.disboards.com/showthread.php?t=720134

You'll find the latest info on the last, or next to the last, page.

 

[Cruelladeville]

I agree, disney will take it at $60. I just purchased an OKW and paid $75. TTS wouldn't even take a bid of $75, they felt Disney would take it at that price. Well, they didn't, thank goodness, but I am guessing that we must be in the "will-they-or-won't-they" gray area. If your contract was stripped, that would severely affect the price, as does the big size of the contract. Even so, that's a bit low. You might even have it taken at $65.

 

[JimMIA]

Because they handle more contracts than anyone else, I think TTS probably has as good a handle on ROFR prices as anyone. I bought at $73 back in February, and they recommended that I not go any lower. Sure enough, I got through at $73 and other contracts at $72 didn't.

And, obviously both Cruella's contract and mine were before the recent price increases. You can expect the ROFR levels to eventually move up as Disney's prices for new and sold-out resorts increase...which they just did.

I also don't think "stripped" means much to Disney. I'm sure they are looking at the points forward for the next 37-49 years. As buyers, we might care, but I don't think they do. I've seen them snap up too many stripped contracts.

 

[Martinvols]

What is the chance that a 520 point contract at Old Key West will be refused by Disney at the rate of $60/point? Is Disney more forgiving on large point contracts such as 520 points?

Please spread some pixie dust my way with a stripped contract at $60/point. I have offerred the maximum that I am willing to pay. Let's hope for the best!

 

[rayelias]

You don't have an icecube's chance in Hades.

Sorry. Ain't NO amount of Pixie Dust going to get you $60/point at OKW - especially that large a contract!

 

[stingmom]

Please spread some pixie dust my way with a stripped contract at $60/point. I have offerred the maximum that I am willing to pay. Let's hope for the best!

Sorry, there is NO WAY that will ever come to pass ROFR. No amount of pixie dust could make that happen. Perhaps you should look for a smaller contract equal to the same amount of total $$$ you were willing to spend. $31,000 spent on less points will go a long way if you travel during less busy times and avoid the weekends (or stay at a moderate/value or offsite on the weekends).

 

[WithDisneySpirit]

Please post this on Beca's thread so we will all know what happens to your offer. It would be a total shock if it passes because the point of ROFR is to keep prices from bottoming out! $60.00 for OKW is a fire sale

But, here is some PD anyway

 

[Scotch]

Because they handle more contracts than anyone else, I think TTS probably has as good a handle on ROFR prices as anyone. I bought at $73 back in February, and they recommended that I not go any lower. Sure enough, I got through at $73 and other contracts at $72 didn't.

It is a dart game. My OKW contract got through in February at $70 with all current year's points. Also bought via TTS. Then a BWV contract passed at $69 in March, the same month two BWV contracts got exercised at $78 and $80. Go figure.

 

[DBBN]

I'm with the others who believe Disney will excercise ROFR and you'll have to look for another contract(s). I wish you luck.

There are a couple of good things that will come from your offer though. First is the seller will sell their 520 points, to Disney but nevertheless they will be sold. Second is that Disney will have a few points for OKW making some DVC members happy owners of an add-on or two.

 

[JeanJoe]

Please spread some pixie dust my way with a stripped contract at $60/point. I have offerred the maximum that I am willing to pay. Let's hope for the best!

I'd love to provide more hope, but Beca's ROFR thread and posts by Tom Yeary at TTS both seem to show that stripped contracts, although less valuable to us, have been ROFR'd at the same or nearly the same levels as packed contracts.

Still, there have been bizarre contracts that have passed:

Beca (seller) - 210 BWV (Sept) $69 60 '05 (sub 3/1, pass 4/1)

...is the contract that comes to mind

So, best of luck to you, but please don't be too disappointed if this "steal" doesn't get through.

 

[DVCconvert]

What is the chance that a 520 point contract at Old Key West will be refused by Disney at the rate of $60/point?

No way. Not VB nor HH go this low. Sorry.

 

[Martinvols]

To $67.30/point. With closing costs, my final all-in costs will be approx. $73.08/point as I have to pay all 2005 fees, transfer fee and closing costs which add about $3,000 to my offer. Thanks for your input ---- you have helped me tremendously ---- maybe, now, I have a 50/50 shot at being accepted. If I am lucky! Spread some pixie dust my way please.

 

[rayelias]

To $67.30/point. With closing costs, my final all-in costs will be approx. $73.08/point as I have to pay all 2005 fees, transfer fee and closing costs which add about $3,000 to my offer. Thanks for your input ---- you have helped me tremendously ---- maybe, now, I have a 50/50 shot at being accepted. If I am lucky! Spread some pixie dust my way please.

I was just going to suggest you raise your asking price.

I still don't think you have a shot under $72-73 (with a stripped contract - and that's 50/50 in my opinion).

But, since it was Disney's money, I thought giving the seller a couple extra bucks would've been nice. No more out of your pocket, but the seller reaps an extra $3800.00. Heck, you should go up to $70 and give the seller ANOTHER $1400!

I'll keep my fingers crossed for you, but I'm just trying to be realistic.

 

[Martinvols]

Thanks Rey! Let's see what happens. At least I will make Disney earn this one!

 

[carlos1117]

Martin,

My view is that you were taken advantage of by the seller. He is just using you because he knows that Disney will ROFR. So, his strategy is to low ball, get someone hooked, then let Disney ROFR. This ensures him a fast, worry free deal. Sorry.

 

[ColoradoBelle1]

If there isn't a Realtor involved, perhaps you could revise the contract so that the seller pays the costs that Disney wouldn't (like closing costs paid by seller for you) so that the price per point could be higher in the contract tho the net cost to you would be the same. You could write the contract so that seller paid closing costs, no mention of maintenance fees (since seller has already paid them).....that would be around $5.00 per point combined that you could bid up the point cost with. (Since you were going to pay these costs anyway, it just serves to make the selling price per point look higher.
Yes, Tom (from TTS) would say that Disney is smart and figures all costs in, but one never knows who will be doing the figuring on the Disney end.

However it goes, good luck to you, pixie dust and hopefully WELCOME HOME!

 

[DebbieB]

Martin,

My view is that you were taken advantage of by the seller. He is just using you because he knows that Disney will ROFR. So, his strategy is to low ball, get someone hooked, then let Disney ROFR. This ensures him a fast, worry free deal. Sorry.

Why would the seller be willing to accept only $60 when he could easily get $70, which DVC is still likely to ROFR? I have a feeling he did not know what the current sales are going for.

 

[T.E. Yeary]

What company are you dealing with??????

Tom