RoFR back??

[HyperspaceMountainPilot]

Curioser and curioser!

As someone who recently got VGF direct at $161 (and tentatively hoping to unload some resale VGF points around $150 if the future), this news makes me very happy. But I must say I’m surprised they are ROFRing VGF at much values than the recent midpoint of RIV/Poly/CCV.

 

[JackosinDIS]

Yeah I know things can get touchy sometimes so I try to be as vague as possible but this was listed a solid 20% below what you would think the low end of going prices would be. And when I say low end it's for large contracts. This was a small contract which usually commands the premium. So really I'd say this contract was listed about 30-35% cheaper than low end pricing based on contract size. If mods feel they want me to be more specific I will but I'll leave it at that for now. I was shocked to see it. I've never dialed a number so fast. Could've easily flipped it if you wanted no problem and made a decent profit.

I saw the same one… it was listed around 30% below ‘normal’ prices… by the time I clicked on the link it was gone! I wonder why they listed it so low?!

 

[TheDailyMoo]

Was it BCV? Saw something very enticing about two days ago and fought the urge to pursue a contract we definitely did not need! Thankfully someone snatched it up quickly to end my temptation.

It was the one with the zoo. ;-)

 

[TheDailyMoo]

I saw the same one… it was listed around 30% below ‘normal’ prices… by the time I clicked on the link it was gone! I wonder why they listed it so low?!

That's why I thought it was a mistake. I understand wanting to price something to sell but there was no need to go that low. I'm actually surprised the offer that took it was as high as it was considering the asking. The broker said he was inundated with calls and has never has a response like that. Which tells me there are way too many people still stalking resale for good values! Again I was ready to offer more as well but the winning offer made it not so worthwhile. Maybe for a small contract yes but for me only wanted it at or near the original listing.

 

[Sandisw]

Does it even matter? Aren't they completely interchangeable from a functional perspective like Kidani and Jambo House?

For use yes…some of us are just curious of where the points are deeded. Since the opened sales at BPK, they have only deeded to that building. So, just interesting they are taking points again, and maybe it is to add to the points they do have in the bucket assigned to the original villas.

 

[lilsonicfan]

re: this page https://dvcsearch.com/dvc-right-of-first-refusal-rofr-year-to-date-analysis-for-2023/ - I picked a random CCV one to investigate and it was a single person whose deed was bought by Disney. I looked at when he purchased, and he purchased with his wife back in 2018, but when sold it said he was a single person. I suppose it could be a ROFR but, could it also be this man called up Disney and offered to sell his contract back, due to life circumstances changing?

 

[Sandisw]

re: this page https://dvcsearch.com/dvc-right-of-first-refusal-rofr-year-to-date-analysis-for-2023/ - I picked a random CCV one to investigate and it was a single person whose deed was bought by Disney. I looked at when he purchased, and he purchased with his wife back in 2018, but when sold it said he was a single person. I suppose it could be a ROFR but, could it also be this man called up Disney and offered to sell his contract back, due to life circumstances changing?

Yes, that is possible.

 

[Jlo85]

Yes, that is possible.

I guess it's possible, but from looking at past comments, it seems like Disney historically pays less than $100/point to buy back surrendered contracts. I'm not sure if I really see them paying $115/point for a surrendered contract at VGF or CCV. But maybe?

 

[Sandisw]

I guess it's possible, but from looking at past comments, it seems like Disney historically pays less than $100/point to buy back surrendered contracts. I'm not sure if I really see them paying $115/point for a surrendered contract at VGF or CCV. But maybe?

Normally no..but there could be a reason why in that particular case they took back that contract.

Maybe they have some program for CMs? I know they were offering $85/pt for OKW 2042 owners to sell back a few years ago so taking CCV at $115 isn’t that far off.

 

[Sandisw]

Just to clarify..people can certainly share info regarding listings they saw and are now gone.

What we do not allow are posts guiding people to things that are “For Sale”.

For example, “Hey, here is a contract at XYZ for ABC for this price and it has LMN”.

But to stay “ I saw an AKV contract this morning that was listed about $30 below and it now gone” is fine.

 

[HyperspaceMountainPilot]

Just to clarify..people can certainly share info regarding listings they saw and are now gone.

What we do not allow are posts guiding people to things that are “For Sale”.

For example, “Hey, here is a contract at XYZ for ABC for this price and it has LMN”.

But to stay “ I saw an AKV contract this morning that was listed about $30 below and it now gone” is fine.

I thought about saying that exact thing — details of already sold contracts are OK because the board just doesn’t want anybody trying to market active contracts…but I wasn’t 100% sure and didn’t want to give bad advice.

 

[Jlo85]

Maybe they have some program for CMs? I know they were offering $85/pt for OKW 2042 owners to sell back a few years ago so taking CCV at $115 isn’t that far off.

I have seen 2 contracts now in the past week that Disney bought back at Grand Floridian at $115/point. So, my guess is that $115 is the going surrender price that Disney is paying for Grand Flo. So you may be right! Seems a little high to me, but Disney's pricing never makes much sense to me anyways.

 

[DVC700]

A broker told me about "Warranty Deed in lieu of Foreclosure," but I spoke to two Quality Assurance Managers and someone w Member Accounting, and they all denied Disney does this. The broker (w over 20yrs working for DVC) insists they're lying. Can anyone confirm this? If so, who at DVC can help me with this? Thanks.

 

[Sandisw]

A broker told me about "Warranty Deed in lieu of Foreclosure," but I spoke to two Quality Assurance Managers and someone w Member Accounting, and they all denied Disney does this. The broker (w over 20yrs working for DVC) insists they're lying. Can anyone confirm this? If so, who at DVC can help me with this? Thanks.

The thing is is that this is not something they do regularly. Meaning, you can call and say please take it back. There have been times when they agreed with an owner, or in the case of the OKW offer I mentioned above…may have also been AKV too.

In general though, it’s case by case, and not a program they offer, I wanted to do it once when I first bought and of course, was told they couldn’t do it.

 

[DanCali]

A broker told me about "Warranty Deed in lieu of Foreclosure," but I spoke to two Quality Assurance Managers and someone w Member Accounting, and they all denied Disney does this. The broker (w over 20yrs working for DVC) insists they're lying. Can anyone confirm this? If so, who at DVC can help me with this? Thanks.

A quick search on the Orange County website shows they do a lot more foreclosures than "Warranty Deed in Lieu of Foreclosure". But they also do the latter, at least according to a SSR deed recorded as recently as last quarter. I posted the example below but I'm not posting personal information or the document number or the exact recording date beyond what I wrote. If you know how to search the site, it's not hard to find such examples.

So your broker was correct and the quality assurance managers may have been misinformed... But I agree it does not appear like a regular thing they do.

 

[Brian Noble]

spoke to two Quality Assurance Managers and someone w Member Accounting, and they all denied Disney does this.

No Disney employee will ever voluntarily admit this is a possibility, because they do not want Members to know there is an easy (or at least, easier) way out than a foreclosure.

 

[Robbie Cottam]

A broker told me about "Warranty Deed in lieu of Foreclosure," but I spoke to two Quality Assurance Managers and someone w Member Accounting, and they all denied Disney does this. The broker (w over 20yrs working for DVC) insists they're lying. Can anyone confirm this? If so, who at DVC can help me with this? Thanks.

Technically, they could both be correct..... IE no one is lying...

Disney will not just buy back a contract....
But if you are far enough behind were Disney is going to forclose they MAY, offer the Deed in Lieu of optoin.....

so... Disney Doesn't jsut buy your contract back..... the QA and MA were correct....
But when the file ends up with the legal team, they have the option to aviod a foreclosure....

not sure how hard it is to foreclose in FLA

 

[HyperspaceMountainPilot]

Technically, they could both be correct..... IE no one is lying...

Disney will not just buy back a contract....
But if you are far enough behind were Disney is going to forclose they MAY, offer the Deed in Lieu of optoin.....

so... Disney Doesn't jsut buy your contract back..... the QA and MA were correct....
But when the file ends up with the legal team, they have the option to aviod a foreclosure....

not sure how hard it is to foreclose in FLA

It may also depend on the ratio of debt to equity and other metrics that are owner-specific.

 

[DVC700]

A quick search on the Orange County website shows they do a lot more foreclosures than "Warranty Deed in Lieu of Foreclosure". But they also do the latter, at least according to a SSR deed recorded as recently as last quarter. I posted the example below but I'm not posting personal information or the document number or the exact recording date beyond what I wrote. If you know how to search the site, it's not hard to find such examples.

So your broker was correct and the quality assurance managers may have been misinformed... But I agree it does not appear like a regular thing they do.


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