I put in a bid on a resale today!

[tacomaranch]

Well after gathering information for about a month and getting so much help here on the DIS, we finally did it.

I went back and forth with the seller for about a week and by the time all was said and done, they accepted my first offer. We did go back and forth several times. I am really not good at that! In the end they countered my second counter and I was just tired of the games and did not respond, they came back and took my original offer.

I don't think we are going to pass ROFR as we are trying to buy OKW at $75 per point with 410 available now and 220 in June.

Wish me luck and thank you again for your help! April

 

[mommyintn]

Good luck!! We've been getting the daily e-mails about the Vacation club re-sales that are new for that day there are some good deals and hopefully we'll buy in at some point. Old Key West is beautiful!!

 

[eyeheartgoofy]

Good luck!

 

[LisaS]

I don't think we are going to pass ROFR as we are trying to buy OKW at $75 per point with 410 available now and 220 in June.

Unfortunately, I don't think you will either. According to the ROFR thread, you're about $2/point too low to pass. But you never know with ROFR. Every once in a while something squeaks through that you think has no chance, and another that should pass easily doesn't make it. I really hope you get lucky because contracts with that many points available don't come along every day. So here's some pixie dust to help your cause!

 

[InstImpres]

Great news April, I'll keep my fingers crossed for you!!!

 

[vascubaguy]

You really have to keep an eye on the market to get those loaded contracts and, like Lisa, I think this one is going to throw up some red flags and very likely to be ROFR'd.

If you really want this contract, paying $2 more per point really doesn't add up to much in the grand scheme of things. Oddly, that extra $440 could be the difference between passing ROFR or not.

Best wishes for passing though...

 

[Pocahantas]

Here are some good luck pixies that you make it through ROFR

 

[Disney1fan2002]

Well after gathering information for about a month and getting so much help here on the DIS, we finally did it.

I went back and forth with the seller for about a week and by the time all was said and done, they accepted my first offer. We did go back and forth several times. I am really not good at that! In the end they countered my second counter and I was just tired of the games and did not respond, they came back and took my original offer.

I don't think we are going to pass ROFR as we are trying to buy OKW at $75 per point with 410 available now and 220 in June.

Wish me luck and thank you again for your help! April

If it makes you feel better, a few years ago, I bought a 300 point OKW contract. 300 points banked, and 300 points for the current use year. $73/point.

600 points! Seller paid half the closing costs, and it passed ROFR.

 

[calypso*a*go-go]

April --
I really feel you've got about a 50/50 chance with this one. Had it been 150 pts. or less, I would have thought no way...but sometimes contracts with slightly higher point values squeak through when others wouldn't. Plus, given the number of OKW resales available, I doubt there's anyone on a waiting list with Disney. I'll keep my fingers crossed for you!

 

[senecabeach]

Sending tons of Pixie Dust to YOU !!!!

ALSO...I would definitely have a plan "B" in mind

 

[tacomaranch]

Thanks for all the good pixie dust sent my way! What can I do now? If it get's ROFR does that mean Disney owns it? Or does it go back on the market? I know I can't put an offer in again but since this way all in my name could my husband? I have a different last name.

I really wanted this property and I have gone back and forth so many times with the seller just to get to this point. It has 410 points available right now and then 220 coming on, I think...or 190 now and 220 on in June.

Can I just offer up more money? It has not been sent in yet as I just sent the escrow check out snail mail. Urg, I really don't like this but it saves money!

Thanks for holding my hand on this and all the great info!

April

 

[vascubaguy]

Thanks for all the good pixie dust sent my way! What can I do now? If it get's ROFR does that mean Disney owns it? Or does it go back on the market? I know I can't put an offer in again but since this way all in my name could my husband? I have a different last name.

I really wanted this property and I have gone back and forth so many times with the seller just to get to this point. It has 410 points available right now and then 220 coming on, I think...or 190 now and 220 on in June.

Can I just offer up more money? It has not been sent in yet as I just sent the escrow check out snail mail. Urg, I really don't like this but it saves money!

Thanks for holding my hand on this and all the great info!

April

I believe you could "cancel" the contract and have it revised to offer more money if you wanted. Usually the seller doesn't mind accepting more money. However, some of that could depend on how far along it has gotten.

And to answer your other question, if DVC exercises ROFR they will buy it back so you would not be able to do anything other than search for a new one to buy. Disney gets to buy it back with the same terms as what you would have gotten.

 

[LisaS]

If Disney decides to exercise their Right of First Refusal, that means they take your place as the buyer of the contract. The deal stays exactly the same but Disney buys the contract instead of you. The points will then be available for purchase directly from Disney at $92/point. That's why people here caution against trying to negotiate a "killer" deal because that makes the contract more attractive to Disney.

You might be able to change the offer depending on where you are in the process. Give your broker a call to discuss your options. Did they offer you any advice on price during the negotations? I'm just curious if they thought $75/point would pass ROFR.

ROFR is a bit of a "tug of war" -- you get pulled one way by your desire to pay not one dollar more than you have to, and you get pulled the other way by your anxiety that you might lose out on a good contract and have to wait a while for another good one to come along. But in reality, your annual dues will be by far the biggest cost of ownership. If you offer an extra $2/point ($77 instead of $75) that extra $440 will hurt a bit now, but it really is a small sum compared to what you're going to pay over the lifetime of this contract.

If you don't mind how long you have to wait to become a member, then you can gamble on this one and see what happens. The worst that happens is you lose it to Disney and have to start over. TTS will return your deposit to you or hang on to it while you wait for another contract that meets your criteria. You will be out nothing but your time (and whatever you paid to "overnight" your initial paperwork).

If you really want this contract and want to become a member ASAP, then pay the extra $2/point to increase your odds of passing ROFR.

Good luck!

 

[LisaS]

I really wanted this property and I have gone back and forth so many times with the seller just to get to this point. It has 410 points available right now and then 220 coming on, I think...or 190 now and 220 on in June.

I just re-read this part of your post. My comments about this being a good contract were based on your earlier posts that this contract has 410 points available now and 220 coming in June. There's a big difference between that and 190 now and 220 in June. First thing you should do is verify the number of points you are getting with this contract. If it's only 190 now and 220 in June then this contract is not as special and wouldn't necessarily be worth the hassle of changing your offer.

 

[InstImpres]

Maybe Tom will chime in if he is around but I know years ago, you were allowed to counter offer and raise your offer a few bucks if you did it really quickly after ROFR. There are a few old posts about those who successfully did so.

 

[robinb]

If you offer an extra $2/point ($77 instead of $75) that extra $440 will hurt a bit now, but it really is a small sum compared to what you're going to pay over the lifetime of this contract.

Especially on so tasty of a contract. You have almost all of 2005 banked plus all of 2006 with more coming in just 8 months. It's a great contract and worth the going rate and not a low-ball.

 

[the who #3]

good luck on that one. sounds like a really great buy. okw is older and not as many years left on the contract so that may temp disney to let it go thru, but at the same time that one has a lot of pts built up and i don't know if they would like to let it go that way.

i don't haggle about price on property or cars. i just decide what i would feel comfortable paying and if it looks and feels right then i make the offer. if it goes thru i am really pleased, but if not i try for another one.

i hope you get it but if not there will be another.

 

[Duchie]

A few years ago when we bought our contract, our seller accepted a very low per-point bid. I don't remember the specifics, but it was a large contract with at least 50% banked points. Our salesperson told us it was very likely Disney would exercise ROFR because of the size of the contract and the banked points. But within 5 days she called us back to tell us we had passed ROFR. She was as shocked as we were! So anything could happen!

 

[calypso*a*go-go]

Maybe Tom will chime in if he is around but I know years ago, you were allowed to counter offer and raise your offer a few bucks if you did it really quickly after ROFR. There are a few old posts about those who successfully did so.

I did! What's funny about mine was that I actually lowered the price per point but agreed to pay more towards closing costs/maint. fees. I don't know what the magic formula is with DVC, but we passed ROFR the second time it was submitted.

 

[tacomaranch]

So what should I do? Offer more per point or pay the fees or closings? I am just lost on this.

Thanks again for the help!

Apri