Not ROFR thread - general discussion

[lovin'fl]

Appreciate you reporting back. Now I’m deeply curious which Grand it is. I’m assuming VGF because that’s the same one they’ve ROFR’d within the past few, but it seems crazy not to buy back VGC around $200 if you can resell it at $310 as fast as you can get your hands on it.

I hope someone else with VGF calls in to see what price they are buying it back at.

I want to say it was Grand Flo. But seems like they'd buy back Grand CA. Maybe it's both. I should have paid attention.

 

[Dis507]

Not being 100% on all resellers, Grand flo (VGF) has only had 1 per month grabbed from what I've seen. Generally, with very low price per point.

 

[Massachusetts]

Not being 100% on all resellers, Grand flo (VGF) has only had 1 per month grabbed from what I've seen. Generally, with very low price per point.

I think they are talking about selling directly to Disney outside of ROFR.

 

[Dis507]

I think they are talking about selling directly to Disney outside of ROFR.

Interesting, I have had 2 different guides tell me since I bought that DVC doesn't buy back direct, only time they buy back is via ROFR.

I would love to know if there is any tracking to show ones they have bought back direct.

 

[ChipTheRescueRanger]

Anyone else get annoyed when a contract has banked points and the listing hs "Buyer pays NO Dues on the 2023 points!" as its like some sort of mega deal and not that dues are paid on a yearly bases. No mater if you usr the points or not

 

[ChipTheRescueRanger]

Also why do people list a contract for sale and then have cant close until December. Its only June

 

[Jimmy Geppetto]

Anyone else get annoyed when a contract has banked points and the listing hs "Buyer pays NO Dues on the 2023 points!" as its like some sort of mega deal and not that dues are paid on a yearly bases. No mater if you usr the points or not

That’s the least of my annoyances regarding their marketing tactics. It ranks well below “certified hot price” or “red hot deal” specials.

 

[Jimmy Geppetto]

Also why do people list a contract for sale and then have cant close until December. Its only June

They likely have a confirmed reservation they are using and the contract can’t close until that reservation ends.

 

[ChipTheRescueRanger]

They likely have a confirmed reservation they are using and the contract can’t close until that reservation ends.

Oddly the listing has full points for this year included full banked points

 

[VGCgroupie]

That’s the least of my annoyances regarding their marketing tactics. It ranks well below “certified hot price” or “red hot deal” specials.

Only full price offer will be accepted. While the big red make an offer button is staring me in the face and I want to.

 

[HyperspaceMountainPilot]

Also why do people list a contract for sale and then have cant close until December. Its only June

This is a smart tactic for sellers who think the DVC market may have another leg down or otherwise want the cash as soon as possible after their trip…but it’s not a great idea for buyers (unless it comes with a SIGNIFICANT discount) because if the market prices skyrocket between now and December, seller can back out with limited penalty— I think it’s extremely rare that would happen except that we have seen dramatic increases with VGC and more recently PVB in the past two years. Meanwhile, if price goes down, buyer loses their whole deposit if they try to walk away.

 

[ChipTheRescueRanger]

Only full price offer will be accepted. While the big red make an offer button is staring me in the face and I want to.

Esp when the full price is $20+ over priced

 

[intamin]

Only full price offer will be accepted. While the big red make an offer button is staring me in the face and I want to.

I wish the offer button allowed image replies..

 

[holyrita]

Has anyone noticed some resellers change their closing costs based on whether your offer is full asking price or not? I feel like this Is akin to Fidelity's service fee but conditional and less obvious to the buyer..

 

[VGCgroupie]

Has anyone noticed some resellers change their closing costs based on whether your offer is full asking price or not? I feel like this Is akin to Fidelity's service fee but conditional and less obvious to the buyer..

Ive seen one place doing this. But you can choose whichever title company you want if you are paying the fees.

 

[crvetter]

Ive seen one place doing this. But you can choose whichever title company you want if you are paying the fees.

This is correct. As long as you pay for the title insurance it is your choice as the buyer. The resale agency would be violating law/best practices to suggest elsewise if you request a different title company.

Has anyone noticed some resellers change their closing costs based on whether your offer is full asking price or not? I feel like this Is akin to Fidelity's service fee but conditional and less obvious to the buyer..

What part of the closing cost change? Some are simply tied to purchase price so that could be the cause for the change (assuming lower price means lower fees). But if it feels like something that is a flat fee (or should be) then likely you probably correct it is almost a "punishment" for not full asking, especially if the fees increased with lower price. Considering the Title Company and the Resale Agency are supposed to be "arms-length" and can't receive any compensation between each other it would have me question the relationship between the two companies. It would suggest that the Title Companies increased fees could be being used to offset the commissions, which again even if the same owners would be a violation of federal law to do so.

It might also be possible the seller is just not paying a given fee anymore with the lower offered price but the fee was always there. However, I'd question if that is the case what exactly the fee is and push back/counter the seller should continue to pay. In this case it is the seller trying to close the delta between their ask and your offer.

 

[Grapefruit]

This is correct. As long as you pay for the title insurance it is your choice as the buyer. The resale agency would be violating law/best practices to suggest elsewise if you request a different title company.

Interesting. I just put in an offer with a broker and stated in my offer that I wanted to use DVC Title and Escrow. In no uncertain terms, I stated that I would pay the full closing costs (instead of their reduced, promotional closing cost pricing with their title company of choice). I was told the following:

“Also we do not use DVC Title & Escrow, they are not one of our approved vendors.”

The offer ended up going pending with a different buyer overnight, so it was moot, but it really grinded my gears that I would not be able to use a title company of my choosing.

Not only this, on a prior offer with this same broker, I found out (in a very roundabout way) that the listing was owned by the owner of the broker company after my offer was already accepted (but before we docusigned anything). I rescinded after finding this out because I didn’t like that this wasn’t disclosed in the listing. Does anyone know if this is required to be disclosed? For what it’s worth, it was an Aulani listing. It just felt slimy to me considering, as owner of the broker company, they have the inherent ability to buy/take advantage of buyers looking to resell before going to the open market.

Needless to say, I’m not putting anymore offers in with this broker.

 

[HyperspaceMountainPilot]

Interesting. I just put in an offer with a broker and stated in my offer that I wanted to use DVC Title and Escrow. In no uncertain terms, I stated that I would pay the full closing costs (instead of their reduced, promotional closing cost pricing with their title company of choice). I was told the following:

“Also we do not use DVC Title & Escrow, they are not one of our approved vendors.”

I’m not a FL attorney but this seems pretty suspect.

Not only this, on a prior offer with this same broker, I found out (in a very roundabout way) that the listing was owned by the owner of the broker company after my offer was already accepted (but before we docusigned anything). I rescinded after finding this out because I didn’t like that this wasn’t disclosed in the listing. Does anyone know if this is required to be disclosed? For what it’s worth, it was an Aulani listing. It just felt slimy to me considering, as owner of the broker company, they have the inherent ability to buy/take advantage of buyers looking to resell before going to the open market

Pretty sure this a major part of many brokers business model. There’s a lot of sliminess in DVC resale, in my opinion—but the main alternative is paying Disney 2x as much for direct.

 

[crvetter]

Interesting. I just put in an offer with a broker and stated in my offer that I wanted to use DVC Title and Escrow. In no uncertain terms, I stated that I would pay the full closing costs (instead of their reduced, promotional closing cost pricing with their title company of choice). I was told the following:

“Also we do not use DVC Title & Escrow, they are not one of our approved vendors.”

The offer ended up going pending with a different buyer overnight, so it was moot, but it really grinded my gears that I would not be able to use a title company of my choosing.

Not only this, on a prior offer with this same broker, I found out (in a very roundabout way) that the listing was owned by the owner of the broker company after my offer was already accepted (but before we docusigned anything). I rescinded after finding this out because I didn’t like that this wasn’t disclosed in the listing. Does anyone know if this is required to be disclosed? For what it’s worth, it was an Aulani listing. It just felt slimy to me considering, as owner of the broker company, they have the inherent ability to buy/take advantage of buyers looking to resell before going to the open market.

Needless to say, I’m not putting anymore offers in with this broker.

The rule about picking your title would be for property deeded in Florida. You would have to follow the rule for the property, so Aulani would be what Hawaii says.

But I’m sure they say that for Florida properties because they most certainly share ownership.

 

[Grapefruit]

The rule about picking your title would be for property deeded in Florida. You would have to follow the rule for the property, so Aulani would be what Hawaii says.

The interaction I had regarding DVC Title and Escrow was for a Florida property (BLT), so am I right to assume that they weren’t allowed to tell me I couldn’t use the title company of my choosing? Especially if I was willing to pay?