Resale/ROFR question

[bluejean]

My husband and I had the tour and sales pitch for SSR and decided to buy 200 points. I gave a deposit and got the Fed Ex package. I kept hesitating to sign however, because I kept feeling like I really should buy at BCV since that's where I want to stay. I finally decided that I should have the home resort I want and checked into resales. Today I made a deal with the Timeshare Store for 200 BCV points at $74 a point. I called my guide to tell him that the SSR deal was off and told him why. He said that at $74, Disney will probably buy the contract and especially will because my name is in their system. (Are they vindictive?) I only half believed him because I know he wants his commission, but should I be worried? I thought $74 would be high enough that Disney would pass.

 

[DVC-Don]

I bet the resale goes through at that price.

 

[JimC]

I don't think the guides are paid commission.

What's in it for Disney to be vindictive? They will sell SSR with very little problem. And having an active resale market is good because it makes it easier to sell to potential members who might be hesitant otherwise.

I suspect they make the ROFR decision solely on the economic merits of the deal and their waitlists.

 

[bluejean]

Of course I don't think Disney would be vindictive. It was just odd that my guide said they will be more likely to buy the contract knowing that I'm the buyer and was going to buy SSR. I don't know if he was implying that they if they buy it, I'll go back to Disney and buy SSR. It really didn't make sense and sounded nanny nanny boo booish. If they don't get a commission, they must get some incentive because he certainly didn't want to lose the sale and strongly discouraged me from buying resale.

 

[dianeschlicht]

Hmmm, that's an interesting theory! Excersise ROFR when they think they already have the buyer in hand.

 

[bobbiwoz]

Sometime within the last month, someone told of being stopped at ROFR after dropping a direct from Disney sale. However, the next resale went through for them and I think one more after that. I can't find the thread, maybe you can.

I think it's worth the try to get BCV. Alternatively, you can buy the minimum at SSR and then add on at BCV, we bought at BWV and have just been told our add on at VWL is available for purchase.

Pixie dust!

 

[dianeschlicht]

I was going to suggest a minimum at SSR and add-ons at BCV too. The only problem would be the number of points.

 

[ellynsoh]

We bought resale at BWV for exactly the same price, $74/point, and the agent said she had never seen Disney exercise ROFR at that price. Not sure if that will hold true for BCV, but I really hope you'll be all right.

 

[WDWorld2003]

We were the ones who cancelled our BVC contract to buy a resale BWV - Disney used ROFR on it.

We made a second offer on a BWV contract (actually 2 smaller contracts) which went through. It had banked and borrowed points and was actually a better contract for us. It was a long drawn out process though - Disney waited the full 30 days on both contracts. I do wonder if they were trying to test our patience Several other contracts had gone through at the same time with the same buying scenario.

I don't think Disney would buy it back at $74.00 though. Are you paying maintenance fees and closing costs? Our broker thought the reason they bought the 1st contract is we were only paying 1/2 2003 fees - but who knows....

Good luck! There's always another contract that goes up for sale if Disney does use ROFR.

 

[zulaya]

Disney has been taking so long probably because they are VERY busy with SSR sales. I wanted to add-on to BCV before a sellout of my use year and when I called my guide was out and they couldn't even get me another guide to talk to to just see if I could get on a waitlist because everyone was either with a prospective member or out on tours. SO I can believe it that they are taking the full 30 days if only because they have no time to do it sooner.

If you decide to go resale, the level that seems to go thru is $71-$72. That's what's been reported on the boards lately. Generally if the buyer isn't paying closing costs or dues, I have seen a lot of those offers be snatched. So look at what you are getting with each contract you are looking at. Offer to pay for the dues on points you will use - that's fair if you get the use of them.

My opinion is that you will be able to get it at $74/point. Disney is too busy with SSR to buyback BCV resales unless the terms are really low.

 

[bluejean]

I'm encouraged that $74 seems too high for Disney to buy, but I'm scared that my deal is so good that they may want it. I'm buying a December use year with 200 banked points from Dec. 2002, then I get 200 more this December and I'm only paying for two months of dues for 2003. I am paying all the closing costs. I really hope Disney passes. I'll just have to try to be patient and see. If it doesn't work out, there will be something else.

 

[July]

Just wanted to wish you luck. Send some pixie dust your way. I really think you should buy at the resort you like the best. I bought at VB. It has the highest dues but that is where we wanted so I say go for it.

Hope you get your contract...

<font color=pink><font size=5>July

 

[pfurs]

just a bit of encouragement. we bought a bcv resale @ $74 with both 02 and 03 banked points. it passed with us paying closing and prorated due. the rofr took about 3 weeks and we made the offer in mid-august, havnt closed yet. but i just wanted to give you a more frame of reference. which resale co did you use? we also purcashed a bw thru disney at the same time, however our resale was already in the works prior to the direct sale.

 

[bluejean]

Pfers,

That's great that you got your contract! Yours sounds just like mine so now I'm feeling much better about it. We are dealing with Pat at The Timeshare Store. Is that who you used?

 

[pfurs]

yes, pat is great. ours is march use yr.

 

[FOTM_Ring_Bearer]

bluejean,

We just bought at the BW through Pat at the Timeshare Store in July. I still can't believe how easy it was. Our contract was similar to yours. 200 banked points from 2002 and all 2003 points for $74 a point. Disney took just over 2 weeks to make up their mind.

Hope yours is just as easy.

 

[bluejean]

Okay, now that's three of us buying points @ $74 and getting all the 2002 and 2003 points, which I think is a great deal. Maybe this is a stupid question, but why are people selling these? And why haven't they been using their points? I just can't imagine. I can't wait to book our first visit!