Has anyone had ROFR exercised?

[itsmyhappyplace]

I am in the process of buying DVC resale and was wodering how often the ROFR really gets exercised. My offer was $87/pt at BCV. Based on what I've seen this is high enough to avoid this issue, but are there other considerations?

Any information would be apprecieated.

 

[vascubaguy]

BCV is a "hot" property, so there are several other factors to consider.

1. How many points are you buying?
2. What Use Year is this contract for?
3. Who is paying closing?
4. Are any annual dues being refunded to the seller?
5. How many points are currently available on the contract, or coming available?

There have been several BCV contracts ROFR'd where the buyer was trying to purchase less than 100 points. They were offering $88 per point. If you are buying more than 150 points, you might have a better chance, but less than the 150 and it would be a close call.

DVC has a waitlist of members who want to add-on at BCV, so they regularly ROFR BCV contracts to sell them to existing members.

I wish you luck on passing ROFR!!!

BTW, you can check the ROFR thread for a list of contracts that have passed ROFR, been ROFR'd, or join the list of other folks who are waiting to hear whether they passed or not. The thread is located at: http://www.disboards.com/showthread.php?t=720134&page=130&pp=15

 

[Alexander]

I hope everything works out for you!

BCV is so popular and the add-on list soooo long. It wouldn't surprise me if that contract does get ROFR'd. They can buy it back at $87 and sell it at $92.

 

[boatboatboat]

what are the chances of a HH re-sale making it thru at 68 a point (150-200 pt contract)

 

[vascubaguy]

what are the chances of a HH re-sale making it thru at 68 a point (150-200 pt contract)

While HH contracts have sold at that price in the past, I would think it could go either way. However, if they are lowering the DVC direct price on HH by $5, I might would be inclined to believe that it would pass at 68. Of course, there are no guarantees. I would think based on recent history that $70 would be a safer bet, but should be "loaded" with points (not stripped down).

 

[itsmyhappyplace]

I hope everything works out for you!

BCV is so popular and the add-on list soooo long. It wouldn't surprise me if that contract does get ROFR'd. They can buy it back at $87 and sell it at $92.

I agree, but this is not an add on of 50 to 100 points. Even Disney cannot break up a 200 point membership. Also by the time you add in the closing costs and administrative fees on their end it seems to me it is rarely worth it. Sometimes I wonder if this is just a courtesy extended to current members more than a porfit making venture.

Besides, I'll be really ticked if this doesn't go through.

 

[keys2kingdom]

This wouldn't happen to be the 200 pointer that closed on eBay last night would it? I think it closed somewhere around $87 pp. Just curious.

 

[sajetto]

This wouldn't happen to be the 200 pointer that closed on eBay last night would it? I think it closed somewhere around $87 pp. Just curious.

Usually contracts on ebay go sky high! If the OP managed to walk away from one of those auctions with that price point I say congrats even if he doesn't pass ROFR!

 

[itsmyhappyplace]

This wouldn't happen to be the 200 pointer that closed on eBay last night would it? I think it closed somewhere around $87 pp. Just curious.

Maybe.

 

[itsmyhappyplace]

Usually contracts on ebay go sky high! If the OP managed to walk away from one of those auctions with that price point I say congrats even if he doesn't pass ROFR!

Thank you.

I have my fingers crossed. Although it seems this is a pretty standard price from what I have seen on the resale sights.

Congratulations on your engagement and fairytale wedding.

 

[kimberh]

We were ROFRed 3 times before our VWL went through. I sent the closing papers to the TSS today. I started in Oct 05 and here we are in Mar 06. The contract I ended up buying had more points banked so I think I came out better in the end but it was frustrating. Jamie at the Timeshare Store was great to work with, she would call me when a contract with the number of points I felt I needed would come in and let me bid on it first. Disney will excercise their right so be ready.

 

[keys2kingdom]

Maybe.

I thought so! You might like to add your name and info to the ROFR thread over on the Planning board so we can all root for you! Good luck!

 

[Beca]

I agree, but this is not an add on of 50 to 100 points. Even Disney cannot break up a 200 point membership. Also by the time you add in the closing costs and administrative fees on their end it seems to me it is rarely worth it. Sometimes I wonder if this is just a courtesy extended to current members more than a porfit making venture.

Besides, I'll be really ticked if this doesn't go through.

Actually....DVC CAN break up a 200 pt contract (or any contract, for that matter)...they can do anything they want.

And, remember....DVC closes all contracts "in house" by salaried people, so their fees are actually much less than what a "consumer" would pay.

But, yes...my guide tells me repeatedly that the re-purchase of contracts to sell as add-ons IS a "consumer satisfaction" policy. DVC is willing to take a small loss on BCV because right now, they can buy a VB or HH back at much less, and sell it for the same price as a BCV contract....the money sort of "evens" out.

Good luck on your contract!!



Beca

 

[iankh]

Keep in mind that prices are going up at the end of the month. I believe that the sold out properties will be $95 a point direct through Disney and SSR will be going up to $101 a point.

That said, I would also expect the resale market to follow.

I recently lost a $25 point resale add-on at BWV to Disney ROFR (the second 50 point contract I went after, the seller changed their minds). I finally decided to call my guide and see if I could add on at a resort I currently don't own. I could and I did add-on directly with Disney for BWV.

So, net net keep in mind:

- Prices are going up
- It's a good idea to negotiate to build the closing costs into the purchase price so the seller pays closing, otherwise if the buyer pays closing it's no skin off DVC's back since they don't pay closing anyway (although it will come out even a little higher since the seller then has to pay a higher commission and will want to "be kept whole").

 

[senecabeach]

I agree, but this is not an add on of 50 to 100 points. Even Disney cannot break up a 200 point membership. Also by the time you add in the closing costs and administrative fees on their end it seems to me it is rarely worth it.

Disney can and does break up the contract, if they buy it back, and accomodates the "wait listers" !!

Good Luck with ROFR!!

 

[itsmyhappyplace]

Somethings are meant to be, others are not. I cannot get all worked up about something like this. If this does not go through I will just move on and decide later how badly I want it. I already have my vacation planned for May 06 at PFQ and BCV as a renter. This has been working for me for the last 4 years and is not a bad way to do things. I like staying at more than one resort on my trips and at what my trips cost me now it would take me 15 years to break even on the purchase of this membership after I add in the maintenance fees.

Thank you to everyone for the information. You are equally as friendly as the folks on the Intercot Board, which I have been on for the last year or so.