How does first right of refusal work??

[zulaya]

Just wondering how this works...I read that the right of refusal price is now $62 per point. Let's suppose that I wanted to buy an OKW resale listed for $61 a point. It goes to Disney and what happens? If they refuse because the price is lower than what they want it selling for, does that mean the deal is completely kaput and they automatically buy it back themselves or can it be sent back saying, "You can sell if it's $62 a point.", giving a resale buyer (and seller) another chance to work it out between them.

 

[Firefighter Mickey]

I remember an instance reported on this board where the agent was notified by DVD of the intent to buy-back if the deal moved forward; the buyer and seller were allowed to negotiate a new deal that was then completed.

I don't know if this is the 'norm' though.

Ahh, I just saw in another post from Dean that DVD apparently executed the first right of refusal, and the only notification was that his deposit money was returned. So, it seems that either situation could happen.

I'd suspect it more likely at this point that the contract is simply bought back if they decide they want it, because then they can at least make some more money reselling it.

 

[Dean]

I know it's happened in the past where DVC gave the parties the chance to submit a new offer but lately it seems that they just make a decision and move on buying it back then if they chose. I know in my previous contract DVC did buy back, we were not given any options, not that I would have raised my price. There is a member of this board that had a contract to buy at $40 pp and DVC gave them 2 chances to increase first to $45 then $50 pp before they let it go through (about 2-3 years ago I think). I haven't heard of any second chances lately but suspect (without basis) that if DVC were told, "let us know if you won't let if go through and we'll rework the deal", they would be cooperative. It's my suspicion that DVC would rather not buy any back and they really don't make much or any money when they do.

 

[nezy]

What does the DVC do with any points that they buy back/ I ahve not heard of a place where thye re-sell them. If someone is interested in purchasing OKW points, can they go thru DVC if they have bought them back?

 

[Dean]

No one know for sure how they do this. I haven't seen anyone post they had the inside scoop. DVC does sell a few points at sold out resorts from time to time and recent purchases have been reported on this board. It appears they held the OKW points and then sold them with the new building. Lately, they seem to be selling them off as they get them or something to that effect.

 

[AnnaS]

I have been on a waiting list to add on a few extra points at OKW forever. Perhaps now since the price for buy back was raised, I might have a chance?