Re-sale turn-downs via ROFR

[jenmook]

Just curious, as we'll probably buy a re-sold property from BWV:

Anyone have advice on how to ensure that your bid to buy is not turned-down by the Disney's ROFR? Any hints would be appreciated. Thanks!

 

[Richyams]

Offer $75 per point.

Pay closing costs

 

[bobbiwoz]

Read past posts, someone recently offered $70 for the VWL and Disney passed on it, they kept it a "secret" from these boards until they found out.

Pixie Dust!

 

[stacy6552]

1)Dont go with Jerry at the Timeshare store. He seemed more interested in getting the contract signed than he was in getting US the property. It wasnt until 3 weeked into the ROFR wait that he told us he hadnt seem anything get past disney under $65/point. Our contract was for $64 and we'd even asked about making the contract less attractive to Disney and he siad nothing at the time.

2) Jaki, another broker whose website i cant comeup with right now (someone help me out here), answered all kinds of questions for me. She even pointed out that a listing would never get an offer because it is obscenely high (you guys know the one). Her experience with ROFR was to offer more than $67 for HH, more than $69 for OKW and more than $70 for WLV, BWV, and BCV.

The BCV just sold out and are very hot so Id probably offer more for it.

3) My disney guide told me its all about their wait list for the use year. If they have people waiting and they wont loose money on it, then they will excercise their ROFR on a resale. So if you can get an idea of which months arent hot, you might stand a better chance of getting it.

 

[WDWorld2003]

We worked with Jerry at the Timeshare Store and he was great! He answered all of our questions and concerns. Our first offer at BWV of $72 a point was purchased by Disney. He then found us a similar contract and we bid $73 and it went through.

I think your offer should depend on how many banked/borrowed points there are. If it has a number of banked points offer more per point. You should also be willing to pay closing costs and maintenance fees on current points. Our contract had almost all of 2002 points (banked), and all 2003 points (banked into 2004) - March use year. A great deal since we were able to sell our points for this year and start out with over 540 points next March! Good luck!

 

[Johnnie Fedora]

We bid on two recent HH contracts. The first one was on a semi messed up contract (had large number of ressie points). Disney bought it back at $63. The second one, Disney passed on at $65. I think a large number of things go into whether they buy back. If you really want a certain contract, bid high enough to get it, especially if it has banked and current points. You can always rent out a few points to cover the price difference from what you "really" wanted to pay.

I do believe that DVD deliberately drags out the resale process in order to make buying through them more attractive. They know people are excited about buying, and frustrated with waiting 30 days to get an answer. DVD uses buyers emotions to their advantage. Most important thing is to buy where you want to use points the most. Good luck.

 

[Disneeformee]

We are currently waiting to see if ours goes through Disney. I just told the broker "Look I want this resort and I want these points what can I do to make it almost certain it will go through. I offered asking price plus dues for 2003. (All points available will bank to 2004). If it goes through( I have eyes, fingers and toes crossed)we will have payed 77.00 per point after everything.

 

[zzotto]

I am the guy that just got word that Disney passed on their ROFR at the VWL. I offered $70.00/point and I am paying closing costs.

A few things to consider:

1. I did not post here what I was doing - yes, I may be a bit paranoid - but I figured that many Disney people read this board and why not - if they know someone is trying to get the VWL points at $70, maybe they should buy VWL points back when they get the chance.

2. If Disney exercises their ROFR, you can offer more to the seller. Just because they will exercise the offer, does NOT mean the seller has to sell it to Disney. If they exercise their ROFR at $70/point, tell your broker that you will offer $71/point or $72/point or whatever you want to do. I told my broker that if Disney did exercise their ROFR, then I wanted to offer more per point and we took a wait and see approach. Luckily, Disney did not want to exercise the ROFR.

3. Use a good broker that will keep you informed. From this board, it appears that almost everyone agrees on the following three (and I know that there must be more but here are the three):

The Timeshare Store - Board sponsor
atimeshare.com - Jaki Apetz
dvcbyresale.com - Shontell Crawford

4. Buy exactly what you want. Know the resort, how many points you will need to vacation when you want, if this is and add-on, what use year you want, etc.. If you do it right the first time out of the box, you won't have to add on later - like me. We should have bought at VWL, but didn't realize how much we liked the VWL and we didn't know how many points we would need, etc.. So, like many here, we added on. Who knows if we will need more points later? Adding on seems to be the thing to do - like an addiction!!

5. Have financing all set up. There is one entity that you can finance through for a resale - http://www.tammacfinancial.com/
I am not sure. But be ready - a home equity loan, a low credit card rate, etc..

Again, hopefully others will post with better ideas and thoughts for you!

Just some thoughts. Good luck!

 

[waltk]

What is the ROFR based on? In my situation, the price is fairly low, but I am paying the 2003 annual fees and closing costs. Is this considered in the ROFR?