ROFR = Right of First Refusal. Once a
DVC owner who wants to sell can find a buyer, they have to submit the contract terms to Disney. Then if Disney thinks the buyer is getting a great deal (or Disney wants the points to resell to one of their potential direct buyers on a waiting list), Disney can step into the shoes of the buyer and take the contract away from them (while offering the seller the same exact terms that were agreed upon). The seller gets their money, but their original resale buyer starts over.
BTW, there is a guide to the board acronyms linked over in the
DVC Resource Thread if you need it.