Disney's right of refusal

[Annette_C]

I'm new at posting here but have been reading this board for a while.
Like all of you, my family and I LOVE WDW! We try to visit often and recently decided to buy into DVC.
After doing my homework and looking around for the right property, we finally made an offer for 270 pts at BCV. Our offer was accepted and we proceeded to send in the deposit ASAP! In fact, we are planning a vacation to WDW in the beg. of May and wanted to make sure our closing would be quick, in time to make reservations and all.
Well, we just heard from the resale co. that Disney decided to exercize their right of refusal on our property!
We are so disappointed! I don't think we can go through something like this again.
I guess we'll be renting points from now on.....

 

[vascubaguy]

The whole ROFR process is just completely insane and unpredictable. They have been ROFRing a lot here lately it seems, especially smaller contracts and any related to BCV. DVC has a HUGE waitlist of current members that want to buy points at BCV. So, if your contract was priced in the $80's, DVC jumped on it and plans to turn right around and sell it to a DVC member that is waiting to get it at $92 per point.

Now, I would say, try not to get too discouraged. Do you definately want BCV to be your home resort? If not, you could jump on the SSR friends & family deal and get the same number of points (probably for the same or lower price) as the BCV contract that was ROFR'd. Other advise I might offer is that if you do want to pursue the BCV's just make sure that the ending price per point will be at (or above $92 per point). At that price, they might be less likely to ROFR it.

Sorry to hear about the ROFR and if you decide to try again, let us know.

 

[rogerram]

Don't be discouraged. it is worth trying until you get what you want. Fist thing to remember is that if the bid is too low, you will not get it. Whatever reseller you use should know about where most bids will go through, but sometimes that can be thrown for a loop if Disney needs the contract for a waiting customer. Another thing is you were trying for BCV, which is the highest in demand. You would have a better chance at BWV, for a little less money although if Beach Club is where you want, you will have to pay more. SAB is the big deal there. My sister did this 2 times and gave up and she is now wishing she stayed with it and tried a few more times to buy if possible. Now she is talking about trying again, but it is much more costly the loger you wait. You should not give up, because once you get what you want, you are set for life(or close to it).

Goodluck,
Roger

 

[vascubaguy]

Oh, I meant to mention that there's a thread that Beca started and I'm helping maintain with a list of contracts that passed or didn't pass ROFR as well as those who are waiting to hear. It includes much of the contract details. You might find it useful if you do decide to try again.

Here's the link for the thread:

http://www.disboards.com/showthread.php?p=11332055#post11332055

You can also check the link in my signature line below for a database list of other ROFR information. The older information is mostly for historical reference, you'd want to focus on the ROFRs since December.

If you do try again, let us know over on the ROFR thread I listed above so I can add you to the list and send lots of

 

[TammyAlphabet]

I would add one more thing. Although the wait for points is very long to buy BCV through DVC, I would call my guide and get on the waiting list. At 92 per points, it may be a little higher than resale but not terribly so. If you are not particular about your use year, you may not have THAT long of a wait. Good luck.

 

[bluedoggy]

I know how sad you must be - but Don't Give UP... Like other posters have mentioned, the prices keep going up, so being able to buy at current prices is still you're best bet. Did you go through the Timeshare Store? They were great with our resale contract last spring and guided us through the process. They may have a better handle on what you should offer to increase your chances of clearing ROFR. All the best to you & your family.

 

[greenban]

I would add one more thing. Although the wait for points is very long to buy BCV through DVC, I would call my guide and get on the waiting list. At 92 per points, it may be a little higher than resale but not terribly so. If you are not particular about your use year, you may not have THAT long of a wait. Good luck.

The wait can be tough. It was one day shy of 7 months for me to get BCV Dec UY points, and they only had 73 (I think). I'm still waiting (11 Months now) for Sept. UY BCV points. Others with different UY have gotten them the same day!

Good Luck.

-Tony

 

[Annette_C]

Thank you so much for all your kind replies.....here and in PM! You are all so nice and helpful!
The consensus seems to be that we buy into SS with the current special...
I have a couple of questions regarding that:
1) I've seen SS property on the resale market for as low as $77 pp. If I can get it for that price through resale, would it be really worth it for me to buy it from Disney at 83.50? I mean, even considering the fact that I would have to pay the closing costs through a resale, what would be the advantages of buying from Disney?
2) Is the only difference between owning a BC property to any other DVC properties the extra time you are allowed for advanced reservations? Are there any other advantages that I am unaware of (other than annual fees, of course)?
3) Would we be getting 2005 and 2006 pts from Disney if we bought through them with the Friends and Family discount?

That's all I can think of for now...
I thank you again for being so helpful and kind!!
Annette

 

[Plutofan]

Do not let that get you down. The BCV is the hardest re-sale to get since Disney has a very large wait list for add ons there. Disney sells the add ons for $92. If you really want that resort then make an offer on the resale board for $92 or a little less. I would think that Disney would not exercise ROFR for a contract where they would make no profit but you never know. You will have better luck buying a re-sale at another resorts since they are not in such demand from Disney. As long as you do not try to go to the BCV during the bizzy times (Chritsmas, Easter, Food *& Wine) you should have a good chance getting in at the 7 month window. We had no problem getting a late June reservation for 2006.

 

[vascubaguy]

1) I've seen SS property on the resale market for as low as $77 pp. If I can get it for that price through resale, would it be really worth it for me to buy it from Disney at 83.50? I mean, even considering the fact that I would have to pay the closing costs through a resale, what would be the advantages of buying from Disney?

I really doubt that SSR would pass ROFR at $77 per point right now. Earlier last year there were some contracts that made it thru at that rate, but then again I've seen them get ROFR'd at $87 at SSR too. It isn't always, how cheap can I get the points, it's how much do I need to pay to pass ROFR and not have to keep going thru the process. I would imagine to pass ROFR at SSR you'd have to be in the low 80's, and then add in closing costs and you'll be at (or above) the current friends and family price of $83.30 buying direct.

The advantage of buying thru DVC direct.... it's quick. You'll be setup as a member that day. Then you'll be able to make reservations the next day (usually). It is also much easier to use their financing, if needed. OR ,one of the best things is that you can charge the entire purchase to a rewards credit card, get those benefits, then pay off the credit card with cash or a home equity, etc.

Oh, also buying direct you would only have to pay a prorated amount of dues. You wouldn't have to pay for dues on the '05 points, just '06. Right now you'd only have to pay 11 months of '06 dues instead of 12.

2) Is the only difference between owning a BC property to any other DVC properties the extra time you are allowed for advanced reservations? Are there any other advantages that I am unaware of (other than annual fees, of course)?

Yup, the only difference is the 11 month booking advantage. At 7 months, all DVC points are the same.

3) Would we be getting 2005 and 2006 pts from Disney if we bought through them with the Friends and Family discount?

Yes, you'd get the '05 pts and then the '06 pts when they come up later this year. I think right now they are selling August UY, but you might be able to request a different UY if you wanted. I've heard of folks asking for a December UY because it worked better for them.

HTH!

 

[Orioles1966]

Hello- I am very new to this. So I hope I am doing this right. Anyway, I just wanted to let you know that it is still possible to get a BCV. I went thru the Timeshare store and I got a call last week that Disney had waved their right. The cost was $87 a point plus closing costs. So keep trying. It was my second effort.

 

[Annette_C]

Thank you so much for clarifying that for me! I think my DH and I have decided to take advantage of the Friends and Family discount at SSR instead of playing the ROFR game with Disney.
I think we'll start with 250 pts...is that a good number in your opinion?
Thanks again so much everybody! You've been great at helping me make this decision!
Can't wait to become a new member of the DVC family!

 

[JimMIA]

If you can book more than 7 months in advance reliably, and you really want BCV as your home resort, I would seriously consider TammyAlphabet and Tony's advice above. Call and see if you can get BCV direct from Disney.

Some BCV points directly from Disney take a long time, but only for certain use years. Other's are simply one phone call. Not only that, but you don't have to worry about ROFR, you have no closing costs, and you can begin making reservations almost immediately.

I would recommend resale for many other properties, but for BCV, buying direct may be your best strategy unless you see a resale contract that is exactly what you want priced at a price that is sure to clear ROFR.

 

[bookswin]

Thank you so much for clarifying that for me! I think my DH and I have decided to take advantage of the Friends and Family discount at SSR instead of playing the ROFR game with Disney.
I think we'll start with 250 pts...is that a good number in your opinion?
Thanks again so much everybody! You've been great at helping me make this decision!
Can't wait to become a new member of the DVC family!

Annette:

Only thing I might suggest is to break it into two contracts of 125 each. It's easier to sell a smaller contract if you need or want to and the price to you will be the same.

I just bought an SSR add-on of 120 today!

 

[Doctor P]

Can't do an initial buy in with two 125 pt. contracts, though. Need to do one 150 pt and one 100 pt. contract if you go with 250 pts.

 

[Annette_C]

I forgot to ask something....
If I use one of the people here who so kindly offered his/her name as referral, does he/she get anything from Disney in return?

 

[vascubaguy]

I forgot to ask something....
If I use one of the people here who so kindly offered his/her name as referral, does he/she get anything from Disney in return?

That depends on which state he or she is from. DVC typically rewards members for referring new members. I believe the first referral can earn them $200 and each subsequent referral they can get more. They don't get cash, but I believe they can use it to pay MN fees or receive gift cards, etc.

Unfortunately, I live in one of those @$%@#$%@ states that won't allow DVC to provide referral benefits. Although, I have heard there are ways around it. I think if I become a license real estate agent in the state, then I could get the referral bonus.

Oh well, as long as folks are saving money, that works for me!

 

[wingkng]

Do not let that get you down. The BCV is the hardest re-sale to get since Disney has a very large wait list for add ons there. Disney sells the add ons for $92. If you really want that resort then make an offer on the resale board for $92 or a little less. I would think that Disney would not exercise ROFR for a contract where they would make no profit but you never know. You will have better luck buying a re-sale at another resorts since they are not in such demand from Disney. As long as you do not try to go to the BCV during the bizzy times (Chritsmas, Easter, Food *& Wine) you should have a good chance getting in at the 7 month window. We had no problem getting a late June reservation for 2006.

I know that BCV is the hardest to get. What about getting VWL for December UY direct from Disney? I have yet to visit there, but I find that atmosphere to be very relaxing. With the price of points ever-climbing, should I add on now versus waiting a few months?

 

[paults]

Annette_C

IF YOU GO THROUGH Disney break down the 250 pt conrtract to (150 & 100) pt contracts. the cost is the same. Also if you have children (2)you can leave each a contract in the futrue. PLus its easier to sell a smaller contract. If you have 3 or more children ( O Well) its time to ADD-ON-ITIS

 

[vascubaguy]

I know that BCV is the hardest to get. What about getting VWL for December UY direct from Disney? I have yet to visit there, but I find that atmosphere to be very relaxing. With the price of points ever-climbing, should I add on now versus waiting a few months?

Usually there is some advance notice before a price increase. If you don't need the points right now, you could probably hold off a little while, then buy when you are ready (or when the notice of a price increase comes out).

JMO