dumb question but...........ROFR?

[coasterbob]

Hi: I have been following this forum for a little while now in anticipation of our stay at BCV this December to celebrate my bride-and-joy's 50th birthday! I keep seeing the inititals: ROFR. What does that stand for? .
Obviously, we are renting points this time, but hope to become DVC owners someday There is so much great information exchanged here, and I thank you all for it!

Bob .............can't wait for 12/2/05!!!!!

 

[Credit Man]

Right of first refusal. It is Disneys right to match the price on any resale.

 

[JimMIA]

Right of First Refusal. When you buy a resale contract, DVC has the option of purchasing the contract themselves, at exactly the same terms, rather than letting it go through. Once the buyer and seller agree on terms, the contract goes to DVC and they either buy or waive. How they make that decision is a source of great mystery and consternation to people going through the resale process.

I personally think there are a number of factors, primarily the price being paid and whether they have people on their wait list for that property with the same use year. If they have an easy sale, they may be able to buy the resale contract for $75 per point or so and turn it around quickly for $89 per point. I also suspect they use ROFR to prop up the pricing - I'm sure they don't want too big of a spread between resale prices and new prices.

 

[DrTomorrow]

Alternate definition: Rolling On the Floor, Retching. What you do after Disney snaps up that perfect resale you made an offer on.

 

[princess mom]

don't feel bad...just yesterday i had the very same question! but i did finally figure it out.....see there is no such thing as a dumb question!