Just Bought BWV on Resale -- RoFR (Update)

[JeffPort]

With much thanks to the information obtained through wdwinfo.com and other sites on the web, I have decided to purchase at BWV through resale -- site unseen.

DVC appears to be a near-perfect solution for my family of 6 (children ages 4 to 10), as we all enjoy the Disney experience, but find the 2-room hotel requirement to be cost-prohibitive. With our new points, we'll be able to take a trip every 1-2 years at a very reasonable lodging cost. (The wife and kids will be in for quite a surprise this Christmas when I announce that we now "own" a piece of DisneyWorld.)

I sought out and found a resale through the TimeShareStore where the owners had banked their 2002 points and where the 2003 points just recently came available -- quite a deal, as it appears that I'm getting 2 free years (My first association dues will be for February, 2004) .... Thanks, Jerry, for your straightforward answers and expedient service.

Now for the RoFR ... I paid $71 per point for the purchase and I will pay the closing costs and February assessment. From my review of the boards, this appears to be above Disney's target range. However, Jerry at TimeShareStore indicated that earlier this year Disney was executing their RoFR on quite a few contracts in the low 70's. Does anyone out there have any knowledge or experience that could help me align my expectations while waiting out the decision from Disney? Does Disney appear to consider the "banked" and available points when making its purchase decision?

 

[Cruelladeville]

Banked and/or borrowed points seems to have something to do with whether or not Disney buys the contract, as well as if they have people on the waiting list waiting for those points. It sounds like you are pretty safe, although if your use year is October, you might have some cause for worry. It seems that October and March are popular use years. The last time I was on the waitlist, March was awful, but adding to my Feb contract took only a couple of weeks because at that time no one was waiting for Feb except me. I wanted to add on to March, and still haven't heard in 2 1/2 years! If people are waiting in your use year for adding on, then Disney could benefit from buying your contract.

 

[jekjones1558]

We just closed on a resale at BWV. This is what got past ROFR for us:

150 points, Oct. use year
32 points banked from 2002
All 2003 and 2004 points
We paid closing.
We paid prorated dues for Dec. 2003.

Your deal sounds fairly similar to ours, so I would say that your chances are GOOD!

(We also used Jerry and were very satisfied!)

 

[zurgswife]

Good Luck..

with a family situation similar to yours 4 kids ages 6, 10, 11, 12....I can say that we truly love our BWV DVC....the 2 bdrm is the way to go...and i love the convinence of the washer/dryer and kitchen....Some don't like to cook on vacation but I like the money I saw by eating meals (not all mind you we do eat out) in the villa...

 

[InstImpres]

Good luck.

Though I have no personal experience with ROFR, there have been many reports of countering offering if Disney accepts your deal. It sounds like you could go up a little in price and still make out well.

Just a thought but hope you don't need it,

Sandy

 

[stacy6552]

Did Jerry mention that you have to use those 2002 points by Jan 31st? That's a trip on very short notice by the time you can actually book. I hope you didnt pay that years dues.

 

[Crissup]

Originally posted by stacy6552
Did Jerry mention that you have to use those 2002 points by Jan 31st?

That wouldn't necessarily be true. It would depend on the use year. If the contract has a December use year, for example, then he would have just now received his allotment of 2003 points. In addition, any banked points would be valid for the duration of his use year, thus making his 2002 points good through November 2004.

If I'm misunderstanding something here, please let me know.

 

[dianeschlicht]

Originally posted by stacy6552
Did Jerry mention that you have to use those 2002 points by Jan 31st? That's a trip on very short notice by the time you can actually book. I hope you didnt pay that years dues.

Not true with an October use year. Those 2002/2003 points just became available a few weeks ago and will be good until Sept. 30, 2004.

 

[stacy6552]

The first post mentioned paying dues in Feb, so I assumed that he had a Feb use year, but youre right all dues cycle Jan 31.

Whats the use year?

 

[RLAlden]

We recently bought 300 OKW Pts for $65 / point and prorated maintenance. All of the points for 2003 (June Use Year) were available and none were borrowed from 2004. When we first started looking at it, Jerry suggested we increase the price to "better" our chances of getting through ROFR. We thought there's no way, we're going to pay more than what someone was asking. Long story short, we offered the $65 and it made it through ROFR.

It did make me wonder if the commission is a flat amount or if it is a percentage of the actual sale. It seems that they are recommending quite a bit to raise the price, and yet several of these at the lower prices continue to go through.

Just something to noodle on...

 

[ellynsoh]

We closed on our BWV resale in September. We paid $72/point, and the banked points were very similar to yours. I'd say your chances are excellent.

 

[jekjones1558]

It did make me wonder if the commission is a flat amount or if it is a percentage of the actual sale. It seems that they are recommending quite a bit to raise the price, and yet several of these at the lower prices continue to go through.

Actually, in our case we were considering offering MORE than asking in order to get past ROFR. Jerry said that he thought it would go through at asking price. We took his advice and were glad we did.

 

[JeffPort]

Use year starts in December, which is why I indicated that the 2003 points "just recently came available." Therefore, I understand that I will have plenty of time to use the 2002 points and decide whether or not to bank the 2003 points.

Thank you very much to those who have replied with your RoFR experiences / knowledge. I would certainly welcome more information comparible to my situation.

 

[WDWorld2003]

Sounds like a great contract! We bought sight unseen also. We're probably a worst case scenario...... we were ready to sign for a Beach Club contract in May (had all of the paperwork, etc.) when a great resale came through at BWV. It was a Feb. use year with all 2002 and 2003 points - we would pay closing and half 2003 pts - $72 pt. Disney bought it through ROFR. Since they had our name for a cancelled Beach Club purchase that may have been why.

The same day we were told Disney bought the contract another similar BWV contract came on the market - it had a few less 2002 pts, all 2003. We paid all 2003 dues and closing costs - $73 pt. That made it through ROFR!

I think you'll be okay as Disney seems to have slowed down since then and many contracts seem to have gone through at less than ours. We'll send Pixie Dust!

 

[JeffPort]

I thought I'd provide this "good news" update for others on the boards interested in a resale or waiting on their own ROFR.

I received a welcomed update today from Jerry at the Timeshare Store. Disney has passed on their ROFR for my resale at BWV. It actually took them only 12 days to reply, so we are well on our way to a completed purchase.

Now, my family anxiously awaits our first opportunity to use all of those banked points for a trip to our new vacation home (hopefully in early June if we can get a 2-bedroom unit this late in the reservations process).

 

[Gail & Joe]

CONGRATULATIONS & WELCOME HOME !!!!!

 

[tinkgrl]

Hi,

Congrats & welcome home!!!!

Allison an associate

 

[MJTinNH]

Congratulations & Welcome Home Neighbor!

 

[LIFERBABE]

Congratulations on a great contract!!

 

[jekjones1558]

What a great deal you got!!

WELCOME HOME!!