Please post any ROFR.........

[Tom and Jen]

Troy, may i ask where you fouund that info?

And ?, does anyone feel it would be out of line to contact the owner and express interest to make a second offer?

T.

 

[Poorman]

It's over, too late.

 

[Disney1fan2002]

I know some people have posted that there seems to be no rhyme or reason why Disney executes ROFR on some but not others, but does anyone know if maybe the pattern is Disney says NO to new contract resales ( meaning the buyer did not ever buy through Disney) more often than saying no to an add-on? I am not saying that Disney might say no to every new contract, just wondering if maybe more no's are given out to the new than to the add-ons. Any opinions on this?

 

[JOC]

Disney1fan2002,

There are a few of us on these boards (myself included) who are first-time owners that had resales go through around the February timeframe, so I'm not sure about Disney being more apt to exercise ROFR if you're a new owner.

Tom and Jen,

If you want to raise the price on your contract just contact your resale broker and have them change it for you; you'll have to do it before the paperwork gets to Disney though or it will be too late. My broker thought that my contract might not make it through at $70/point and suggested I bump it up to $71 or more per point, but my paperwork had already gotten to Disney so it was too late anyway, but just as well that I didn't bump up the price because it went through at $70/point.

 

[Dean]

Originally posted by Disney1fan2002
I know some people have posted that there seems to be no rhyme or reason why Disney executes ROFR on some but not others, but does anyone know if maybe the pattern is Disney says NO to new contract resales ( meaning the buyer did not ever buy through Disney) more often than saying no to an add-on? I am not saying that Disney might say no to every new contract, just wondering if maybe more no's are given out to the new than to the add-ons. Any opinions on this?

What I've seen over the years would suggest that their more likely to buy back add on size contracts of less than 150 points to a previous non members. Even that hasn't held up the last couple of years so it may now be irrelevant. Actually I think DVC has been far more predictable the last year or 2 than previously. The resale agents should have the best info on this as they get the inside scoop and have the largest volume to compare to. I'd ask people like Jaki, Shonell and someone at the TSS if it were very important to me.

 

[Coach Rick]

Once DVD purchases those points, what do they do with them? After all once those points are back in inventory they can do whatever they want with them. IE..Change the use year to suit thier needs. It's all paper, and very easily shuffled. It appears from the table presented by TroyWDW, they are on a buy-back frenzy, so they should have quite a few points tallied.

 

[DebbieB]

Originally posted by Coach Rick
Once DVD purchases those points, what do they do with them? After all once those points are back in inventory they can do whatever they want with them. IE..Change the use year to suit thier needs. It's all paper, and very easily shuffled. It appears from the table presented by TroyWDW, they are on a buy-back frenzy, so they should have quite a few points tallied.

There is a waitlist of members who want to buy points at sold out resorts. They can buyback and then resell them at $84, which is DVC's current price. They can also rent rooms through CRO and keep the profits.

They can't change the use years. There is a certain number of points allocated to each use year. I do believe they put the points into a pool, so that they can resell any number requested. For example, if they buyback a 100 point contract they don't have to resell as 100, they could break it up or combine.

 

[WDWorld2003]

So, if we're not a previous owner our resale may not go through?

 

[Disney1fan2002]

Originally posted by WDWorld2003
So, if we're not a previous owner our resale may not go through?

No,no,no.....not saying that at all! I was just throwing a theory out there as to who Disney says no to. Since some people seems to be OK with a $70 point contract, yet others get told no on a $72 point contract, I am just trying to see if their may be a connection to DVC contracts that were bought full price through Disney and they give them a break with add-ons. But some have posted that they did not have an original Disney contract and their resale was approved..so I guess I am back to square one trying to figure out how Disney works in this regards.

 

[Coach Rick]

Originally posted by Disney1fan2002
so I guess I am back to square one trying to figure out how Disney works in this regards.

Well good luck trying to figure it out. From what I have read here there doesn't seem to be any pattern.

 

[Nette]

How many people do they have going over these contracts? That could really affect the seeming randomness of their buy backs.

I mean what if you get Nice Guy Joe going over your contract for $68/point and he approves the resale.

However your neighbor gets Mean Jean who exercises ROFR on a $72/point deal...

 

[sparkspeak]

We are also waiting to hear on a resale.....
BWV - 270 pts.
Feb. use year
All 2002 pts and 2003 pts
we pay closing and 1/2 2003 main.
$72 pt

Another angle: Perhaps use year and banked/borrowed points play a role in Disney's decision. In the case posted, Disney would not resell the 2002 banked Feb. points as member points. Assuming they would sell them to CRO, Disney would realize additional profit.
Also, Disney might have scheduled refurbishment plans for a specicic resort and wants to insure availability for construction.

 

[Disney1fan2002]

I mean what if you get Nice Guy Joe going over your contract for $68/point and he approves the resale.

Oh please oh PLEASE let me have "Nice Guy Joe" looking at my contract! LOL

That could just be the case, and I love Disney so much, if this were my job, I would BE Nice Guy Joe and approve all that I could!!!!

 

[DebbieB]

Isn't it a board that goes over them rather than a single person?

Maybe they look at the wait lists they have for the soldout resorts and see how many people they have waiting for that use year.

 

[TroyWDW]

Tom and Jen,

The data in the table I presented is a compilation of the public records that get executed for every DVC transaction. Every sale, ROFR, mortgage lien, etc. is a public record and must be recorded with the county clerk. (And if you are wondering, no I didn't spend hours compiling the data.)

The recent ROFR activity is significantly different than historical buying patterns. It'll be interesting to see if they continue this practice when Saratoga Springs comes online. Personally, I always wondered why they had lengthy wait lists and rarely executed ROFR.

Troy

 

[Tom and Jen]

Thank you for that followup Troy, i often wondered that same question. Then again I can't figure why someone would sell off their contract.

My offer has already gone to Disney and am awaiting there response. I already told the broker of my interest to make a second offer if DVD opts..., he said if there is time he will try it. I too am teetering on making a call to the actual seller (I have ther info) expressing my interest, but am uncertain as to whether or not this is a good thing to do.

I guess I should have just offered the full price and had fewer headaches...........oiyyyyyyy!

This is actually over due, uninformed, Mothersday Gift...... Though I feel like Ralph giving Alice a bowling ball for her birthday........ does this make me a bad person??!!

Thanks, and please keep the Offer/ROFR info coming.......

T.

 

[CarolA]

Well, if the seller takes my offer I may be in the same boat. I can't believe I did this but I made an offer on a 100 point OKW today!

I offered below the seller's listing, but in the ROFR range. We will see, since it is a small 100 point contract they may hold out for the offer. Not sure I will go that high.

If I get this then next Spring I will sell my 50 point HHI contract. (It is borrowed for this use year and I think it will sell better if I have the points so I will wait until next use year.)

UPDATE: The seller accepted. I now get to wait on Disney. I "hope" that I went high enough to avoid the buy back, but we will see. (I went up to 73 since this is a low point contract at OKW with all of the past year banked) I will not counter that is as high as I am going.

 

[CarolA]

Troy,
I have another question on your table. As I read the footnote Sell means the contracts that Disney recorded as sold to people like me. Is that correct?

I just noticed the LARGE sell volume in May 2003 which lends some strenght to the BCV sell out push. It was dramatically higer then 2002. (Or could that be the BWV addon push?)

 

[TroyWDW]

Carol,

Yes, "Sell" means DVD Inc. sold a contract to an individual (Welcome Home, here's your DVC pen, etc.).

The breakdown of the contract sales of DVC to individuals in April & May 2003 is (Orlando properties only):

  Apr    May
  92%    92%  Beach Club
   2%     4%  Boardwalk
   4%     3%  Wilderness Lodge Villas
   1%     1%  Old Key West

Comparing against May 2002 is a little misleading. DVD Inc. was pre-selling Beach Club at that time. Note, that in June 2002 there were almost 5000 closings. Basically, they processed all the pre-sale contracts in June 2002.

DVDinc averages selling about 950 contracts per month. I would compare against that number. Prior to May, DVDinc had nine straight months of below average sales performance. May 2003 was a good month (above average) and the large majority of the contracts were Beach Club. Hope that sheds light on your question.

Troy

 

[CarolA]

Thanks Troy!