OKW resales not passing ROFR

[pakdayton]

hi ...
if you have been following the thread "any ROFR news" you'll know that a bunch of OKW contracts were ROFR'ed this month ... and it got me to thinking

has anyone actually had a successful OKW contract get through disney this summer?

if so ... please share the secrets of yor success

or

if not .... relive the painful memories with us

here's mine

OKW 230 pts oct u/y
224 pts for 10/04
went to disney 8/9 at 70 per pt 1/2 MF
ROFR on 8/29

thanks

 

[jastza]

We bought at OKW this Summer ! The specifics were 270 points with a June UY and all of the 2003 points banked. We paid $73 per point and closing costs and the MF for 2004 since we got all those points but did not pay MF on the 2003 points we got. Our contract got passed ROFR in 8 days! I was really surprised so fast! We closed on Aug 23rd and have already used up the 2003 points for a November trip and banked the 2004. I really thought Disney would want the contract with all the extra points but we got thru right before they were starting to buy back more contracts!

 

[JimFitz]

We closed in July on a 250 point OKW contract that had all 2003, 2004 banked and the 250 for 2005 coming on 10/1. THATS 750 points to play with.

We paid 71 per point.


J

 

[brunoflipper]

we closed in june...
300 pt OKW contract march use year...
we paid closing costs and 04 mf...
we had all of 03 points banked....
we got all of 04 points and have all of 05 point coming....
that is 900 points to play with...
all for $70/point

a week after we were official, we spun around and rented 600 points @ $10/point (booked the other 300 pts for ourselves for march 05), so we like to tell ourselves we really only paid $50/point

 

[ditzy]

Originally posted by brunoflipper
--- so we like to tell ourselves we really only paid $50/point---

Such a deal! All the ones I look at seem to have have borrowed points or only part of the current year's. Where do you find them with all of 2003 points banked?

 

[Mike]

We closed in August on a 220 pt OKW contract (March UY) with all 220 2004 pts remaining. We split the MFs on the 2004 pts with the seller and we paid closing costs. We paid $70/pt.

 

[AmyBeth68]

You all were very fortunate . It now looks as though a minimum price of $73/point for OKW is the going rate. As they say, timing is everying, and mine stinks LOL . Congrats on your great deals!!!

 

[carlos1117]

Amy is right. Mine and her contracts were EXTREMELY close or in most cases, better to the seller to what you guys described above. Timing is everything. Something changed in mid to late August.

Good post pakdayton!!!

Mike

 

[TravelingJen24]

We just closed Friday on 280 points, Dec. use year. We paid 71 a point plus closing. We have all 2002 banked, 2003 banked, and 2004 coming, so we got a pretty good deal I think. We passed ROFR in 10 days and it felt like forever, but I hope that everyone else is as lucky.

 

[pakdayton]

its toooo depresssing!

congratulations to all of you who made such wonderful deals ... and thanks for sharing

 

[AmyBeth68]

Congrats Jen! You really got a GREAT deal too!!! Sounds like you'll have lots of fun with those points .

Mike (Carlos1117) and I both had April u/y, which I think had something to do with them getting bought out by Disney. Especially since we were paying $72/point which is, IMHO, a passable price for OKW. I believe that the use year must have a greater impact than I first suspected. I also think that paying MF on banked/available points brings your per point dollar value higher, which is definitely part of the ROFR review. Our contract had no points available, therefore we were paying almost exactly $74/point. I think when all is said and done, you need to be somewhere around $75/point or higher. I don't know, I'm just trying to add some logic into this process, but that's where my head is right now.

TravelinJen24...would you mind telling us if you paid MF on all those banked points? Thanks .

Because I was going for a June u/y contract on my 3rd try, I decided to pay over asking price to hopefully secure the deal and make it less desirable for Disney.

It's such a strange market? Disney knows how to keep us on our toes!!!

 

[TravelingJen24]

We paid MF's for the 2004 points to come, but not for the years that passed. I think we got a pretty good deal, but since we are already going to WDW in October, we are having trouble trying to decide how to use the first 280 points. Problems, huh???

 

[SuzyQ106]

Yes, we just closed on OKW 230 points at $72. 70 points banked from 2003. We paid 2004 MF and closing costs. Cant wait to start planning our first trip using our points.

 

[carlos1117]

Amy,

I hate to bring up old wounds, but after reading some of these OKW contracts that recently passed ROFR, I can't for the life of me understand why you were ROFR'd. Me, I can understand, (210 points for 2004 seller paid MF), that was a mistake on my part, but you should have passed with flying colors.

Maybe everything does happen for a reason..........

Mike

 

[AmyBeth68]

Mike, you're so kind. It surely confused both myself and our broker Jaki. She was still upset about it today. I think she was angrier than I was LOL!

I'm so excited about BWV. How wonderful will it be when we finally pass! I think I will surely appreciate it fully and savor the moment. Let's hope this one is a winner .

And Mike...keep us posted on what you and your wife decide. I sure hope you find a wonderful new contract that sails thru the ROFR process so you too can start planning your big DVC vacation.

 

[starwood]

100 points with March UY at $73/pt. Closed end of July with no problems.

 

[carlos1117]

Thanks, Amy.

Listen to this; when I told my 10 year daughter that we didn't get DVC she said to me, "does that mean we can't go to Cinderella's breakfast next time". Of course my heart sank, but it makes me even more determined!

 

[jmminarik]

I wonder here if UY is now important. Given that add-ons to a master contract are in the same UY as the master, if there are lots of people on the waitlist for OKW Dec UY, would there be more incentive to RoFR Dec contracts? Is there less incentive to exercise RoFR if there's only 3 people waiting for a Sept. UY?

Granted, it will always ultimately come down to $$$ and the profit motive for exercising RoFR, but when the money is similar between those that make it and those that don't, there has to be some logic to the process.

Just my coffee deprived thoughts.

-Joe

 

[nuthut]

Originally posted by AmyBeth68
Mike, you're so kind. It surely confused both myself and our broker Jaki. She was still upset about it today. I think she was angrier than I was LOL!

I am not sure why Jaki would be so upset, afterall she still gets paid her commission and still has the possiblity of selling you a different contract. Seems to me that Jaki wins either way!!!
Jerry

 

[pakdayton]

probably because jaki is a nice lady ... and was disappointed for amy

and secondly because if disney keeps buying up resale contracts and making SSR more attractive to those of us who did get Rofr'ed then her business will suffer