Just lost our ssr purchase at rofr!

[ITALIANANGLO69]

Just got email that Disney are "exercising their rofr" for our purchase at SSR!
We were buying 150pts feb use year with no points 2014 but full allocation 2015 at $60 a point.
Am so gutted!

I was worried about that happening myself. We had an accepted verbal offer on SSR at $62 with all 2013/2014/2015 points. I asked my agent to change it to seller paying all closing costs and maintenance fees at $70 and we just passed ROFR. Net cash was same to seller, so they were fine with it.
You may want to try that too on your next offer.

 

[rmcildw2m]

well u might could have pulled that off for vero beach but not at ssr that's way to cheap . But good for you sorry.

 

[mwwagner]

This was a discouraging post to read. Sorry that you lost it. We have one in ROFR right now at SSR for 150 points at $57 per.....Im not confident in getting it through but I'm hoping that I can slip it past the goalie......The company I am buying it through quotes 12-16 weeks for closing rather than the tradtional 60 days so I'm not sure if they might have had to exercise an "option" on a distressed/defaulting seller or what but I'm crossing my fingers and praying we get lucky!!

 

[DougEMG]

This was a discouraging post to read. Sorry that you lost it. We have one in ROFR right now at SSR for 150 points at $57 per.....Im not confident in getting it through but I'm hoping that I can slip it past the goalie......The company I am buying it through quotes 12-16 weeks for closing rather than the tradtional 60 days so I'm not sure if they might have had to exercise an "option" on a distressed/defaulting seller or what but I'm crossing my fingers and praying we get lucky!!

Best of luck, if that passes ROFR it will be a great deal

 

[djohn06]

Keep swinging got the fences and you are bound to hit a home run! Sorry about your luck.

 

[Holly Quinlan]

so sorry better luck next time

 

[JimMIA]

How is that? I thought they could not "find" points for a stripped contract. I also thought the trend was that typically stripped contracts are less attractive to Disney.

They're the developer, and they have a ton of points which they own. And they probably have more SSR points than anywhere else because of defaults and foreclosures.

DVC can build contracts, break them up and repackage the points, almost whatever they want. A good example is OKW, where they automatically add 2043-2057 points to all contracts to give them a longer expiration date. They can do that because of the failure of the OKW extension offer leaving them with lots of points in those extended years.

They obviously can't move points from one resort to another, and I suspect they would have to keep them the same UY -- but other than that, I think they can do anything they want with their points.

 

[summabreeze85]

This was a discouraging post to read. Sorry that you lost it. We have one in ROFR right now at SSR for 150 points at $57 per.....Im not confident in getting it through but I'm hoping that I can slip it past the goalie......The company I am buying it through quotes 12-16 weeks for closing rather than the tradtional 60 days so I'm not sure if they might have had to exercise an "option" on a distressed/defaulting seller or what but I'm crossing my fingers and praying we get lucky!!

I hope you are using a reputable company. closing shouldn't take that long and it seems your deal is "too good to be true". I just had one of those lined up with the buy a timeshare people...$75 for beach club. I wasn't getting my hopes up, and of course after I gave them a 2k emd (they said they needed between 2 and 5k which ive NEVER heard that before) they told me the buyer couldn't verify ownership. Thankfully I FINALLY just got my 2k back a month later after several phone calls and emails. never again.

 

[mwwagner]

I hope you are using a reputable company. closing shouldn't take that long and it seems your deal is "too good to be true". I just had one of those lined up with the buy a timeshare people...$75 for beach club. I wasn't getting my hopes up, and of course after I gave them a 2k emd (they said they needed between 2 and 5k which ive NEVER heard that before) they told me the buyer couldn't verify ownership. Thankfully I FINALLY just got my 2k back a month later after several phone calls and emails. never again.

Yes I too am trying to keep my hopes in check! I went Into this knowing that I might end up with a refund. My pre purchase diligence got me to the point were I was comfortable that I wouldn't get robbed but I know a major headache may ensue as I try to close this deal that seems to good to be true. No such thing as free lunch....hoping that risking the headache is worthwhile in the end. Time will tell.

 

[Tracy2014]

This was a discouraging post to read. Sorry that you lost it. We have one in ROFR right now at SSR for 150 points at $57 per.....Im not confident in getting it through but I'm hoping that I can slip it past the goalie......The company I am buying it through quotes 12-16 weeks for closing rather than the tradtional 60 days so I'm not sure if they might have had to exercise an "option" on a distressed/defaulting seller or what but I'm crossing my fingers and praying we get lucky!!

What company are you using? I'm not in any hurry- for a deal like that I would also take a chance. I'm in the wait right now, but like to browse around just in case Disney takes mine!

 

[Tracy2014]

This was a discouraging post to read. Sorry that you lost it. We have one in ROFR right now at SSR for 150 points at $57 per.....Im not confident in getting it through but I'm hoping that I can slip it past the goalie......The company I am buying it through quotes 12-16 weeks for closing rather than the tradtional 60 days so I'm not sure if they might have had to exercise an "option" on a distressed/defaulting seller or what but I'm crossing my fingers and praying we get lucky!!

Oh- and good luck!! Will be watching this one!!

 

[Paula Sedley-Burke]

Just a question if I may if Disney do buy them back do you loose any money? Do you have to put down an upfront fee that you lose if Disney excerise it's right to buy back?

 

[mwwagner]

Just a question if I may if Disney do buy them back do you loose any money? Do you have to put down an upfront fee that you lose if Disney excerise it's right to buy back?

No money would be lost. Full refund is given. We would just have to start the search over again.

 

[Paula Sedley-Burke]

No money would be lost. Full refund is given. We would just have to start the search over again.

oh I see. So just the mega disappointment and having the energy to go through it all again. Thank you. That is quite a blow :-(