Newbie? please explain ROFR

[LinniePooh]

Would someone be kind enough to briefly explain the process of reselling DVC points. What is the going commission rate to sell online? If Disney decides to buy it first (ROFR?), do you still pay the online sales company? What seems to be the going rate for OKW points with no points banked, but about 1/2 the points remaining in the current use year. We own 280. Thanks in advance for helping out those of us new to the board!

 

[bobbiwoz]

If I were going to sell, I would contact two or even three of the businesses like the Timeshare store and talk to someone regarding the commission rate. If Disney buys the contract on ROFR, the seller still pays the commission to the broker and whatever else was spelled out in the contract holds regarding closing costs. I seem to think that $68 to $72 are recently mentioned selling/buying prices for OKW. Buyers are told that you can offer less than the asking price, so price yours according.

There are people on these board who have sold privately, and then costs are down for both, but I have no experience there at all. However, there were threads on the topic, so try a search, title companies and procedures are mentioned.

People on the boards are told to look for all current year points and some banked ones as well, so your contract wouldn't seem as attractive as some, but then again, yours isn't completely stripped either.

Good luck.

Bobbi

 

[floridafam]

We just sold one of our contracts.

We only listed with one company and it was sold within hours of us faxing the paperwork.

We worked with Shontell and dvcbyresale.com

Yes, you still pay the broker if Disney buys the contract. The broker sold it.

We are paying 10% commission. This will come out of the money at closing.

I guess our buyers are waiting for Disney and ROFR right now.

Hope this helps.

 

[floridafam]

I believe Disney has 30 days to say if they are buying the contract.

There may be members out there who have listed the contracts themselves. This way, you would not have to pay commission but there would still be fees involved with closing.

In our case, it was just easier to list with someone. They may also be able to suggest a selling price.

 

[pumpkinboy]

ROFR is the sound the dog makes as it destroys your child's favorite toy.

Works about the same way with DVD and your fav' contract

 

[LinniePooh]

If we sell, I will feel like I am losing a favorite toy!!! Unfortunately, my kids are at an age where vacationing with their parents isn't a top priority (sigh) and my husband is not a Disney-lover like me (double sigh), so I've begun to look at our options. I just found this board and love it, though. I'm now considering renting our points for a few years (rather than selling) to see if family circumstances change. And, if I'd found the board earlier, we would have rented our points and paid cash for the upcoming DCL cruise. We probably would have saved a small bundle. Thanks to all of you who respond with such helpful info!