How long does it take to rent points?

[epd0407]

If Disney does not exercise their ROFR on our contract were going to have a good amount of points that are going to need to be banked within 3 weeks of closing. I will only be using about 40 of these points and the rest will go to waste. How long generally can I expect to take to rent points out to someone so the points dont go to waste?

 

[dianeschlicht]

It doesn't take long to rent them, but the issue will be finding anything available last minute.

 

[rhax07]

I'm a newbie with DVC and don't quite understand the concept of ROFR. Can someone give me a quick synopsis?

 

[marie1981]

You can ask Disney if you can bank your points, even is you passed the deadline.

Sometimes, they do make exceptions when you just bought a new contract.

 

[Chuck S]

I'm a newbie with DVC and don't quite understand the concept of ROFR. Can someone give me a quick synopsis?

Certainly. ROFR, or Right of First Refusal is a fairly standard clause in many contracts,but for timeshares it is fairly unique.

Basically, when an owner sells a contract, the details are submitted to Disney. If Disney feels, for whatever reason, that they want the contract under the same terms, they can exercise that right and buy the contract out. For the selling owner, it makes no real difference, for the person buying it means their sale is voided, and they have to look for another contract to purchase.

However, the person buying can make a higher counter offer, and submit a new ROFR request if they really want to buy that particular contract.

In the case of gifting the deed to a family member, or as part of an inheritance, ROFR is generally automatically waived by Disney, but you must still obtain that waiver in order to file the new deed.

 

[rhax07]

Thank you for the information in regards to ROFR. My understanding is that it only applies if you are attempting to sell your ownership, but does not apply if you are merely renting your points to someone else. Awesome, thanks again.

 

[Deb & Bill]

You can ask Disney if you can bank your points, even is you passed the deadline.

Sometimes, they do make exceptions when you just bought a new contract.

Unless they were already banked.