I've Been ROFR'd!!

[Breyean]

Timing is everything.

GCV 250 points, June UY, $74/point, 62 2011 points

We have the distinction of being one of the few contracts to be bought back by Disney (not including BVC) in almost 2 years, according to my sales agent.

Had we made the cutoff for review last week or the week before, which we missed by only 2 days because the sellers didn't sign the contracts fast enough, I really think we would have passed.

So while I was talking to the sales woman, she got two other emails from Disney buying back two contracts at OKW, which she could not believe. I think while we were on the phone the other woman there who handles Disney also got a ROFR or two.

When I asked how I get back the deposit, she said honestly she didn't know because it's been almost two years since they had to do it!

Now, I had heard almost exactly one month ago, from both a friend at Disney and a corporate-type there, that there was a memo issued directing more aggressive buybacks to start again. The goal was even to build up and maintain inventory for each UY if possible for the more in-demand resorts.

So I sort of was crossing my fingers that my resale would slip through before this started; that's why I wonder if I lost out by getting delayed by the sellers.

That's why timing is everything, and I have no add on points!

 

[AllieV]

Ugh, this most certainly will mean Boardwalk, where I've had my eye but am still saving. I have the WORST timing ever. Thanks for the info, though.

 

[DebbieB]

It's not surprising since GCV has a waitlist to buy points direct. I think BWV would be easier to get.

 

[Breyean]

It's not surprising since GCV has a waitlist to buy points direct. I think BWV would be easier to get.

Yep, I'm on that list. Now I'm waiting for my guide to call me with the good news that has my points at $120/point!

 

[htmlkid]

Timing is everything.

GCV 250 points, June UY, $74/point, 62 2011 points

We have the distinction of being one of the few contracts to be bought back by Disney (not including BVC) in almost 2 years, according to my sales agent.

Had we made the cutoff for review last week or the week before, which we missed by only 2 days because the sellers didn't sign the contracts fast enough, I really think we would have passed.

So while I was talking to the sales woman, she got two other emails from Disney buying back two contracts at OKW, which she could not believe. I think while we were on the phone the other woman there who handles Disney also got a ROFR or two.

When I asked how I get back the deposit, she said honestly she didn't know because it's been almost two years since they had to do it!

Now, I had heard almost exactly one month ago, from both a friend at Disney and a corporate-type there, that there was a memo issued directing more aggressive buybacks to start again. The goal was even to build up and maintain inventory for each UY if possible for the more in-demand resorts.

So I sort of was crossing my fingers that my resale would slip through before this started; that's why I wonder if I lost out by getting delayed by the sellers.

That's why timing is everything, and I have no add on points!

Interesting since they just came off of one of their strongest sales months in a while selling roughly 254, 477 points.

 

[DisFanatic]

I think my contract at OKW was the other one your rep was telling you about that got ROFR'd! I just found out about an hour ago! Details are 50pts , Feb UY, OKW $52!! Can't believe it She also told me it has been about 2 years since she has seen a ROFR!

 

[cbnsoul]

DVC is not buying them back fast enough (at least for me.) I've been on the wait list for BCV for only 50 points for exactly one month. The wait is KILLIN' ME! I have a trip I want to book for next June and we are a week past the 11 month mark. I sure hope they come before all the studios fill up...

 

[Homemom]

I'm sorry to hear this has happened to you, and scared it may happen to us as well, we are waiting to hear about our VGC purchase that was submitted a week after yours. I'm soooooo nervous!!!!

 

[RobOnDisney]

Interesting since they just came off of one of their strongest sales months in a while selling roughly 254, 477 points.

I think ROFR will be more aggressive because sales are picking up. With BLT close to selling out, SSR at about 80% sold and AKV at around 55-60% they are going to have inventory constraints soon at WDW resorts. At best we will see GF DVC (if it happens) in sales pipeline in 18-24 months unless they convert existing space, in which case we could see it in 12 months.

DVC will always want a resort for sale at WDW. I think they have been rather gun shy on the next project while waiting for Aulani to start selling and taking over the foreclosures from the economic downturn, that they may be slightly behind the eight-ball on the next resort. Only other option that may use in combination with ROFR to maintain inventory is to start bumping up AKV and SSR prices once BLT officially sells out sometime this fall.

Just my thoughts...

 

[DebbieB]

I think my contract at OKW was the other one your rep was telling you about that got ROFR'd! I just found out about an hour ago! Details are 50pts , Feb UY, OKW $52!! Can't believe it She also told me it has been about 2 years since she has seen a ROFR!

Are you already a member? In the past, they tended to ROFR small contracts for new members. It's not worth the expense of servicing a member who only has 50 points (mailings, etc).

 

[the donut]

Yep, I'm on that list. Now I'm waiting for my guide to call me with the good news that has my points at $120/point!

Maybe it's not such a bad thing. It's nice to have the hotel options with VGC that come with buying direct. It's such a small resort.

 

[Sandisw]

Timing is everything.

GCV 250 points, June UY, $74/point, 62 2011 points

We have the distinction of being one of the few contracts to be bought back by Disney (not including BVC) in almost 2 years, according to my sales agent.

Had we made the cutoff for review last week or the week before, which we missed by only 2 days because the sellers didn't sign the contracts fast enough, I really think we would have passed.

So while I was talking to the sales woman, she got two other emails from Disney buying back two contracts at OKW, which she could not believe. I think while we were on the phone the other woman there who handles Disney also got a ROFR or two.

When I asked how I get back the deposit, she said honestly she didn't know because it's been almost two years since they had to do it!

Now, I had heard almost exactly one month ago, from both a friend at Disney and a corporate-type there, that there was a memo issued directing more aggressive buybacks to start again. The goal was even to build up and maintain inventory for each UY if possible for the more in-demand resorts.

So I sort of was crossing my fingers that my resale would slip through before this started; that's why I wonder if I lost out by getting delayed by the sellers.

That's why timing is everything, and I have no add on points!

I think my contract at OKW was the other one your rep was telling you about that got ROFR'd! I just found out about an hour ago! Details are 50pts , Feb UY, OKW $52!! Can't believe it She also told me it has been about 2 years since she has seen a ROFR!

I am sorry for you both. I guess I will consider myself luck that I got through with my BWV contract this week.

Hopefully, something will come through for your both very soon.

 

[DisFanatic]

Are you already a member? In the past, they tended to ROFR small contracts for new members. It's not worth the expense of servicing a member who only has 50 points (mailings, etc).

No, we are not members...we wanted to start off with something small, but if that is the case then maybe a little larger contract won't hurt

 

[Breyean]

Maybe it's not such a bad thing. It's nice to have the hotel options with VGC that come with buying direct. It's such a small resort.

This is very true. We realized this recently when we went to check availability at VGC and there was absolutely nothing, and not even during any holidays/special events. And since we live in AZ and would like to do DLR trips on an somewhat spontaneous basis, this will not work, even with a direct buy from Disney at VGC. We're on the waiting list for points there, but now we're rethinking that as well.

So we used some of our "real" Disney points to book a room at DLH.

It's really amazing how, after several years to see demand for DVC at DLR that they still have not addressed this.

 

[tjkraz]

I think ROFR will be more aggressive because sales are picking up. With BLT close to selling out, SSR at about 80% sold and AKV at around 55-60% they are going to have inventory constraints soon at WDW resorts. At best we will see GF DVC (if it happens) in sales pipeline in 18-24 months unless they convert existing space, in which case we could see it in 12 months.

DVC will always want a resort for sale at WDW. I think they have been rather gun shy on the next project while waiting for Aulani to start selling and taking over the foreclosures from the economic downturn, that they may be slightly behind the eight-ball on the next resort. Only other option that may use in combination with ROFR to maintain inventory is to start bumping up AKV and SSR prices once BLT officially sells out sometime this fall.

Just my thoughts...

If they are converting rooms at the Grand Floridian, sales could start at virtually any time.

Bay Lake Tower began selling in September 2008 and did not open until almost a year later. It shouldn't take them more than a year to convert existing rooms at GF.

I'm wondering if they might use next month's D23 Expo to announce the Grand Floridian. They could announce in mid-August, start selling in September or October (new fiscal year begins 10/1) and have the converted rooms open by summer 2012.

There would be an obvious lag between purchase and buyers' being able to use their points, but that didn't appear to have much of an impact with BLT or AKV. Buyers were ready and willing to spend their money.

The bigger disruption could occur if they sell out of points in the converted rooms long before the new construction is complete. That happened with AKV. If memory serves, they ran out of Jambo points nearly a year-and-a-half before Kidani opened.

Regardless, glad to see some ROFR activity. I fear SSR and AKV were built too big for us to ever really see aggressive ROFR. But at VGC, I've been told there are literally HUNDREDS of people with their names on a waiting list. Seeing some ROFR at BCV, VGC and eventually BLT wouldn't surprise me a bit.

 

[Breyean]

I'm wondering if they might use next month's D23 Expo to announce the Grand Floridian. They could announce in mid-August, start selling in September or October (new fiscal year begins 10/1) and have the converted rooms open by summer 2012.

Well, the same Disney people who warned me that more aggressive ROFR activity was coming also strongly hinted there was going to be a big announcement regarding DVC around the last quarter of the year. At this point, it sure looks like you're right and the "secret" GF project will be announced.

Although they both knew I was interested in DLR, not WDW, so I was sort of hoping since they brought it up, it had something to do with a new or expanded DVC option in DLR.

 

[Jason@dvcstore]

Timing is everything.

GCV 250 points, June UY, $74/point, 62 2011 points

Wow. First one I have heard of in a long time.

Jason

 

[TaleasoldasTime]

New to DVC can someone tell me what resort is VGC? Is it vero?

 

[ldietiker]

New to DVC can someone tell me what resort is VGC? Is it vero?

It's the Villas at Grand California in Disneyland (CA).

 

[chalee94]

New to DVC can someone tell me what resort is VGC? Is it vero?

you may find this thread useful when abbreviations come up.

http://www.disboards.com/showthread.php?p=13729193#post13729193