Help a newbie.. WhAt is ROFR??

[mommy2hannahgrace]

We just bought into DVC at BLT this past week... Super exciting and I'm trying to catch up on the boards. We didn't do a whole lot of research before buying but know it's a smart decision since were Disney obsessed!! What is ROFR? I'm guessing it's something to do with buying more points but can someone give me more info? We started out with a low number of pts and would like to add on eventually. Thanks!!

 

[adminjedi]

Right Of First Refusal

Disney has first right of refusal at point of resale. Before a resale transaction can be completed, the offer must be submitted to Disney and they have 30 days to make a decision to purchase the contract at seller accepted terms or allow the sale to go through to the buyer.

 

[Buckeye Fan]

It's called "Right of First Refusal." When buying through the resale market, Disney has the first right to purchase the seller's points at the negotiated price. In the past, if offers were really low, Disney would purchase the points back, and the buyer would start all over again...looking for and negotiating a new contract. It was also a way for Disney to keep the inventory they needed available on sold out resorts, and keep the price per point on the resale market closer to the direct purchase price (giving people less of an incentive to purchase resale vs. direct).

In the last couple of years, it seems as if Disney is letting more contract sales go through, regardless of price. In addition, after 3/20 of this year, people who purchase through the resale market won't have all of the options a direct purchaser will have. There are several threads discussing the upcoming changes within DVC Operations if you're interested.

BTW, WELCOME HOME!!!

 

[DVCconvert]

ROFR = Rolling On Floor Regurgitating.

It's what all owners do once they realize what the annual MF"s will cost them.

 

[DisDadDoc]

ROFR = Rolling On Floor Regurgitating.

It's what all owners do once they realize what the annual MF"s will cost them.