Lost point have an inherent value, basically their rental value if nothing else. Stripped contracts generally don't offer the appropriate discount to take this into account. Unless one is looking for something difficult to get in terms of contract size, home resort and UY; A fully loaded contract is often the best deal by far and a stripped contract is essentially never worth it. For example, if you're buying a Dec UY with no 15 or 16 points and all 17 points, the lost points should be worth a minimum of $10 a point assuming one is paying the dues in 17 and 18 without compensation. So $20 a point less assuming there is no reimbursement for the Jan 17 dues. And that still ignores the possibility of banked points.
As I pointed out above, a totally stripped contract is actually a worse deal that just one years maint fees. Now if the difference were appropriately priced I think a stripped contract would be best because it removes some of the aggravations and limitations of dealing with points on shorter notice.
IMO it would depend on UY, who's paying closing and contract size. If Dec and a larger contract I'd say it's a poor deal. IF If the UY is early in the year and it's a smallish contract I'd say it might be a fair to good deal. Compared to buying a fully loaded contract, a price for comparison is at least $99 a point and even then one would have banked points for a loaded contract.
I used very conservative numbers to reach the point I did. If you use the previous method with $13 a point rental, you'd raise the price to more in the $105 range. Still reasonable if it's a smaller contract but likely not if it's a larger one. But if it's perfect otherwise and difficult to find, I don't see a deal breaker in the numbers.
That's $10 less with the seller paying the dues on both years.
I would argue it doesn't matter for 2 reasons. First, the inherent value difference is what it is no matter the ROFR and second, the sales price differences don't reach the difference in value anyway. Also I don't believe one shouldn't chase the ROFR price in most cases. Don't worry about it, just get an agreement at a price you're comfortable with and see what happens. I'd advise what I have all along, that a loaded contract is the best value and the stripped contracts aren't discounted enough to change that. However, there are other considerations in some cases such as smaller contract needs, UY and home resort.
That's the main purpose of ROFR, to keep you guessing and get you emotional enough to buy direct. I would agree with not letting perfect be the enemy of good but I would suggest that one does enough investigation to get past as much of the emotions as possible. IMO that's a min of about 6 months of active investigation for those who have no prior DVC experience. Once one gets to that point, the ROFR process shouldn't be that big of a deal and it definitely shouldn't cause you to pay more just to get past ROFR. Or put another way, if one isn't to that point they're likely not truly ready to buy.
