Getting worried that Disney is going to excercises Rofr on my BWV purchase. 55 dollars 150 points all 2012 and beyond points. Someone please reassure me that they won't. Sent to Disney 9 days ago
I am also worried about ROFR. The price increase on 3/20 makes me feel like Disney is going to need a decent amount of inventory on all of the resorts. And then of course there are those who have been getting on waitlists before the price increase. Disney is going to have to meet those demands as well. Unfortunately, there isn't anything you can do but wait. Good luck to you and hope you get your contract
$55 per point is a good price and many in that range have passed ROFR. Are you paying the 2012 MF's and closing costs? It seems that has some effect on ROFR, but you should be ok at that price point.
Good luck
Stephen
Getting worried that Disney is going to excercises Rofr on my BWV purchase. 55 dollars 150 points all 2012 and beyond points. Someone please reassure me that they won't. Sent to Disney 9 days ago
I paid all closing fees and all mf's. So hopefully that helps.
Getting worried that Disney is going to excercises Rofr on my BWV purchase. 55 dollars 150 points all 2012 and beyond points. Someone please reassure me that they won't. Sent to Disney 9 days ago
Someone just posted that they were notified today the DVC took their BWV 270 points Feb UY 60.00PP now I am really concerned!
IMO, it's going to depend on the inventory Disney already has in each use year for unsold BWV points. As most know, BWV is part of the current webcast promotion and even includes "free" park hoppers for purchases over a certain amount. So for example, if Disney is low on February points, it may decide to ROFR contracts to get more, especially if the contracts have current use year points available. A lot will depend on how much demand for BWV points Disney anticipates for each use year.
wdrl said:Another factor that comes into play, especially at this time of year, is the number of pending foreclosures sitting on DVC's ledger. Maintenance fees were due this past February 15th and there are a number of Members that are past due. I imagine DVD tracks the accounts that are in arrears and, based on prior experience, has a fairly good idea of how many points will end up back under its control because it will foreclose on those accounts.
Although I don't know if this is true, but I suspect that the number of points DVD reacquires through foreclosures affects its willingness to reacquire points through the ROFR process. Keep in mind that DVD reacquires far more points through foreclosures than it get back by exercising ROFR. For the 14 months from January 2012 to February 2013, DVD ROFRed only 1,295 BLT points. However, it reacquired 61,823 BLT points through foreclosure proceedings during that same period.
Wow! Another good reason why financing a luxury purchase is very seldom (if ever) a good idea!...(snip)...... For the 14 months from January 2012 to February 2013, DVD ROFRed only 1,295 BLT points. However, it reacquired 61,823 BLT points through foreclosure proceedings during that same period.
Very interesting and very scary. Is there any way of knowing which contracts had balances on them and which didn't? I can understand giving back a contract with a balance, but in the case of a completely paid for contract the owner had other options.
No, there isn't any way (at least not for me) to know the financial status of the deeds that are foreclosed by Disney. However, there are two types of foreclosures exercised by Disney. One type is the "Warranty Deed in Lieu of Foreclosure." Based on the title and the wording of the document, it appears to be an internal document used by Disney to reacquire deeds from directly from a Member that is in arrears. I suspect that Disney uses this method of foreclosure when the Member willingly agrees to give up their ownership interest in exchange for some compensation. Its probably also the method used by Disney before it initiates court action against a Member.
The second type of foreclosure is a "Certificate of Title" issued by the 9th iCircuit Court for Orange County. Since this type of foreclosure is an official court action, its probably undertaken by Disney when all other methods of recovery have failed. Also, Palm Financial Services (DVD's mortgage loan operation) is almost always a party in these types of foreclosures. Thus, these foreclosures might be due to Members being in arrears on loan repayments rather than past due on maintenance fees.
Certificates of Title judicial foreclosures are slightly more common than Warranty Deeds in Lieu of Foreclosure, at least for BLT and AKV, the only two DVC resorts for which I track reacqusitions. Since sales started at BLT, DVD has reacquired 310 BLT deeds containing 53,903 points via Warranty Deeds in Lieu of Foreclosure and 331 deeds containing 59,012 points via Certificates of Title judicial foreclosures. For AKV, the numbers are 956 deeds/169,129 points and 981 deeds/175,181 points, respectively.