Lost round two with Disney ROFR!

[sam517]

I am so bummed out. I decided after lurking on these boards for so long to make the plunge and buy into DVC. I figured it would be best for me to buy a small contract resale and pay outright than to have a loan to pay. The first contract I tried to buy went to Disney on 1/10/06 and was ROFR's on 1/25. That one was for 30 points at OKW. On 1/26 I tried for another OKW of 40 points and I got the call from Jason today that I lost that one too! Now I so wish I had gotten in on the F&F at SSR. It really is discouraging to to go throught this process and not get into DVC.
I just got the blue Dream book from DVC today, but I am so up in the air as to what to do. Any suggestions?

 

[Doctor P]

No offense, but you have to bid higher apparently.

 

[bounceliketigger]

I am so there with you. We agonized over this very thing all night on 1-30 & 1-31...do we get in on F&F or try to save more $$, wait & risk a ROFR. We went ahead w/ the F&F deal. We just decided the resale game was too lengthy and potentially too aggrevating for our first time out (& I was really itching to take a vacation!) Going through Disney has been painless so far, though we haven't closed yet.

We too had alot of great advice from the DIS board. One person spoke at length about going for a deal that would likely not be desirable to Disney & that the Timeshare Store should be able to help you in that regard. Consequently, we decided to continue to watch the resales and possibly pick up some more points that way.

Hang in there & best wishes.

 

[DisFamily2006]

I was told that Disney is very quick to scoop up smaller contracts on the resale market as many DVC members want to add on and many times do so with smaller contracts. You may consider trying to go a little higher on your number of points. The resale market pricing for OKW at $78/point or so is right in line with what the F&F discount pricing was. I would keep trying. Disney can't do FROR on EVERY resale...you WILL eventually get it

 

[sam517]

These contracts were with the Timeshare Store and I didn't offer less than the asking price. In fact the second contract was for $84.00 per point. That was more that the F&F price was at that point. So I guess it's just the way Disney feels at the time. In retrospect I should have gone with F&F and just lived with a monthly payment. Maybe that's what I should still do but the price will be more now. The pull of the Mouse is getting stronger all the time!

 

[CarolA]

Some folks have noted that Disney seems to be more agressive on the first time buyer attempting to buy the very small contracts. The theory is that Disney spends as much servicing you as they do folks with the minimum 150 points and it's not worth it.. (Although it's not really Disney who spends it's the current owners)

 

[Doctor P]

These contracts were with the Timeshare Store and I didn't offer less than the asking price. In fact the second contract was for $84.00 per point. That was more that the F&F price was at that point. So I guess it's just the way Disney feels at the time. In retrospect I should have gone with F&F and just lived with a monthly payment. Maybe that's what I should still do but the price will be more now. The pull of the Mouse is getting stronger all the time!

F&F did not apply to OKW, though. They can and are selling OKW points at $92 per point with no discount available. Add in the costs of getting a new member's information into the system and servicing them, and the points probably looked fairly attractive depending on who was paying closing, etc.

 

[sam517]

F&F did not apply to OKW, though. They can and are selling OKW points at $92 per point with no discount available. Add in the costs of getting a new member's information into the system and servicing them, and the points probably looked fairly attractive depending on who was paying closing, etc.

I understand the point of the cost of servicing a small account, but it still doesn't take the sting away of losing the contract. With closing costs the dollar amount per point was $92.00. So Disney will not make any money on the resale of those points but they will not have the overhead of inputing my info into the system. And it seems to me that from what I read on these boards that everyone gets addonitis, and I'm sure I will be the same. That is if I ever get in!

 

[mittelst]

Yep... I've been watching the resale market since OKW was listing at $55/point. Ahh, those were the days! It seemed there were quite a few small contracts as recently as 4 months ago. Now, with the announcement of my company bonus, pending tax return, and yet another planned Disney vacation, I've finally decided to dive in. But, like previosly stated in this thread, Disney seems to be grabbing the small contracts. I didn't realize until recently that the non-member factor may work against me.

Oh well. Good luck to us both!

 

[mydogdrew]

In fall 2003 I bought 50 pt VWL for $70 and summer 2004 200 pt BWV for $76. No issues with ROFR so it can be done. However, we were lucky as they began more aggresive ROFR shortly after our second resale. I think your strategy is sound and you're right - you'll will likely want to add-on in the future. Don't buy SSR unless you are happy with that resort. Perhaps try a 50 point resale next?

 

[T.E. Yeary]

Gosh, I really do hate to see our customers have to jump through hoops to become DVC owners without going into debt. The smaller point packages seem to be a target for ROFR.

I just talked to the staff and we have discovered a pattern of the smaller point packages that do go through. I'm not going to say what it is on this board for fear this information will fall into the wrong hands.

However, if you are still wanting to get a smaller point package, call the store and we will pass it on to you. Hang in there folks, we're trying to do everything we can to help you become DVC owners your way!

Sincerely,
Tom & Staff

 

[Doctor P]

I understand the point of the cost of servicing a small account, but it still doesn't take the sting away of losing the contract. With closing costs the dollar amount per point was $92.00. So Disney will not make any money on the resale of those points but they will not have the overhead of inputing my info into the system. And it seems to me that from what I read on these boards that everyone gets addonitis, and I'm sure I will be the same. That is if I ever get in!

One thing you forget is that Disney's closing costs are substantially lower than yours as has been reported on these boards, so it will cost them substantially less than $92.00 per point (if you are paying the closing costs, you will get to choose the closing service providers). With the point increase, DVC will probably be selling them for more than $92 as well. In any case, I'm sorry that you were disappointed and hope that you are able to become an owner in the near future.

 

[sam517]

In fall 2003 I bought 50 pt VWL for $70 and summer 2004 200 pt BWV for $76. No issues with ROFR so it can be done. However, we were lucky as they began more aggresive ROFR shortly after our second resale. I think your strategy is sound and you're right - you'll will likely want to add-on in the future. Don't buy SSR unless you are happy with that resort. Perhaps try a 50 point resale next?

I didn't realize I was upping the anti by 10 points each contract until you said that! Maybe I will work myself right up the 150 initial required by Disney before I pass ROFR!
Boy I sure hope not.
Also in reply to Tom & Staff: Jason did discuss with me a strategy to try to get a smaller point contract to closing , and I am sure willing to give that a try. Here's hoping that another small contract comes up soon.