New to this forum....have ???'s!

[marywdw]

Hi everyone! I'm usually over at the Disney Weddings forum, but I've been considering becoming a DVC member for about a year now and I think it will be the perfect way to spend any "gifts" we receive for our November wedding!!!
I've got a lot of the info. already, but I've been reading the posts here and I am wondering: What's ROFR???? I've seen it referred to a bunch of times
Also, any tips/hints/etc. for a newbie buying in????
Thanks!!!!

 

[Amy5000]

ROFR = Right of First Refusal

Disney holds a right of first refusal on the points DVCers own. This means that if I agree to sell my points to you and we work out a deal, Disney gets to review the deal and buy the points instead of you if they choose.

This is one reason the the resale market in DVC pts is not as low as it might be at other places (where resales sell 50% off of new shares) - Disney buys back at lower prices keeping the resale market closer to the cost of pts from Disney.

Good luck on your upcoming wedding.

 

[browniemtb]

ROFR - Right of First Refusal. This gives Disney the ability to buy a contract back from the resale market. Example you are trying to buy SSR from TTS and you offered $85 per point. Now that offer and contract has to go through Disney and they have the ability to buy it back for the $85.
My tips - TTS has some great deals, just make sure that the contracts aren't stripped, meaning you will get no points for up to 2 years. Also if you make and offer be fair so that you may pass ROFR. Buying through Dsiney takes all this out of the equation. Good luck on your decision, so far we love it and look forward to every trip we take.
Brownie

 

[Chuck S]

Welcome to the DVC Boards.

ROFR = Right of First Refusal. When an offer is made on a resale contract, the offer must be submitted to DVC for approval. If DVC decides the agreed upon price is too low, they will step in and purchase the contract at the same price as the buyer offered. It is basically makes no difference to the seller, they get the same amount either way, but the buyer has to look for another contract and start the process all over again.