ROFR Discussion Thread

[VGCgroupie]

Moving discussion here about our contract that got ROFRd. Definitely keep your head on a swivel when it comes to OKW contracts it seems.

We are offering on another today I think and taking CAF off the table and asking the seller to pay it.

There are quite a few contracts out there in our 50-75 range at SSR and OKW that have been sitting for 20+ days with notes when you get to the page saying, “only a full price offer will be accepted”. Many from the same site……

What’s the feeling on offering below asking for those anyway? Just do it? Worst they can say is no?

You can do it. I never do since I feel it’s a waste of time. I love buying from brokers who don’t put that on listings hardly ever.

 

[IsDVCForMe?]

You can do it. I never do since I feel it’s a waste of time. I love buying from brokers who don’t put that on listings hardly ever.

Same. I’d rather just put in my offer and have it rejected. Nothing is more of a turn off than someone saying “this is what I want and I won’t budge until I get it”.

I’m sure it works or they wouldn’t do it.

But, that’s why none of my offers were submitted through DVCRM.

 

[Girlstar30]

Same. I’d rather just put in my offer and have it rejected. Nothing is more of a turn off than someone saying “this is what I want and I won’t budge until I get it”.

I’m sure it works or they wouldn’t do it.

But, that’s why none of my offers were submitted through DVCRM.

I definitely didnt have any luck with DVCRM at all for any of my offers after I became more educated about waiving mf and finding a deal was important to me. None of the offers I put there ever reached back out to me by agents and the replies I got were either to tell me I will never find a contract at the price I was asking, try to convince me to pay more or just a couple words of it being a no and thats it. Had have much better luck and much less sass with Fidelity

 

[IsDVCForMe?]

I definitely didnt have any luck with DVCRM at all for any of my offers after I became more educated about waiving mf and finding a deal was important to me. None of the offers I put there ever reached back out to me by agents and the replies I got were either to tell me I will never find a contract at the price I was asking, try to convince me to pay more or just a couple words of it being a no and thats it. Had have much better luck and much less sass with Fidelity

Not surprised by this. They are the “pros” I guess but they’re also working on commission. I’m sorry if this offends anyone, but money makes people do weird things.

Fidelity was simple to work with. I sent in my offer through the online form, the agent reached out to confirm the offer, and away it went to the seller. Superrrr easy!

Had offered on one of the Fidelity contracts that I believe is still listed. That one had an auto reply, or at least appeared to be, come back and outright rejected my offer. Just glad I had the chance to submit the offer I wanted to submit.

 

[airjay75]

In my estimation, DVCRM is the place to sell high, not buy low - if I were going to sell, I think that's who I would use. I made several offers to them early on when first getting into the resale game, and the agent I worked with was incredibly nice, but it was very much like she was trying to educate me just how much higher I would need to come up to if I actually wanted to get the contract.

I will say, if I had gone down the road of wanting resale BLT Oct UY, I would have ended up caving and likely buying through them at whatever price I could get because BLT Oct UY contracts are quite rare and they tend to go pretty fast when they come along.

And, if you know exactly what you want, don't want to wait, paying the premium for an average deal over a bottom-of-the-market deal may well be worth it.

 

[IsDVCForMe?]

I will say, if I had gone down the road of wanting resale BLT Oct UY, I would have ended up caving and likely buying through them at whatever price I could get because BLT Oct UY contracts are quite rare and they tend to go pretty fast when they come along.

And, if you know exactly what you want, don't want to wait, paying the premium for an average deal over a bottom-of-the-market deal may well be worth it.

Yep, understand that.

 

[Girlstar30]

Not surprised by this. They are the “pros” I guess but they’re also working on commission. I’m sorry if this offends anyone, but money makes people do weird things.

Fidelity was simple to work with. I sent in my offer through the online form, the agent reached out to confirm the offer, and away it went to the seller. Superrrr easy!

Had offered on one of the Fidelity contracts that I believe is still listed. That one had an auto reply, or at least appeared to be, come back and outright rejected my offer. Just glad I had the chance to submit the offer I wanted to submit.

Pros at selling i would say. Out of my 4 resale purchases, this company was the only one I was deeply unhappy with purchasing from for many different reasons. The others have gone without a hitch!

 

[Girlstar30]

In my estimation, DVCRM is the place to sell high, not buy low - if I were going to sell, I think that's who I would use. I made several offers to them early on when first getting into the resale game, and the agent I worked with was incredibly nice, but it was very much like she was trying to educate me just how much higher I would need to come up to if I actually wanted to get the contract.

I will say, if I had gone down the road of wanting resale BLT Oct UY, I would have ended up caving and likely buying through them at whatever price I could get because BLT Oct UY contracts are quite rare and they tend to go pretty fast when they come along.

And, if you know exactly what you want, don't want to wait, paying the premium for an average deal over a bottom-of-the-market deal may well be worth it.

My experience and sentiments exactly

 

[pzw90]

she was trying to educate me just how much higher I would need to come up to if I actually wanted to get the contract.

As long as you offer above their “instant sale” price, not sure what ground they have to stand on with educating you

 

[airjay75]

As long as you offer above their “instant sale” price, not sure what ground they have to stand on with educating you

As I recall, the conversation went something like this. A very ebullient “thank you so much for your offer.” I’d be happy to present that to the seller and see what they say. Then, after it was rejected (I recall, the seller has chosen not to counter and simply decline), a conversation that, given what we’re currently seeing with resale prices at that resort, I expect that contract to settle somewhere in the $X-$Y range. All very nice, polite and respectful, but done in such a way to help me realize that if I were really interested in in that contract, I better get within $5-$10 of asking price and then likely come up from that to get even closer to asking price.

I remember another contract where I went in much closer to asking price and then I actually decided to pull it because I thought it was too high. I believe I was told something like that was a very “generous” offer and if I changed my mind, that would likely have been in range of something the seller would entertain.

 

[Brian Noble]

What’s the feeling on offering below asking for those anyway? Just do it? Worst they can say is no?

I like @Sandisw's approach: "I'd be interested in this for the right price. If the sellers decide to entertain offers, I'd be happy to do so."

When it comes to DVCRM, or any broker for that matter: I don't think it is worth completely ignoring them as a buyer, because not all sellers are the same. This is even moreso if you don't feel the need to get the absolute bottom-of-the-market price, but can be happy with something that is still a very good deal in the context of the overall market.

All very nice, polite and respectful, but done in such a way to help me realize that if I were really interested in in that contract, I better get within $5-$10 of asking price

Which might well have been true for that particular seller, but it does not have to be true in general. Part of a broker's job is to find a place where everyone can be happy with the transaction. It is possible that, for a specific buyer and weller, there is no such place. And, it seems like they were doing their job---they were letting you know what might get the deal done, and it is up to you to decide if that's a deal you want to do.

The other thing I find it helpful to remember; The larger brokers have a very good idea of where the overall range of the market is at any particular point, because they see a lot more transactions than we do. Part of their service is to let a buyer know (a) what range of offers might currently be considered "reasonable" and (b) how long it might take to generate a credible offer in that range. Some sellers will care more about time to close, while others will care more about the bottom-line number they can get and are willing to wait to get it.

In light of all that, if I am going to make offers at the very bottom end of the market range, I have to expect that, most of the time, the answer will be no, and it will be difficult (though maybe not impossible) to find common ground with any particular seller.

 

[Genie+]

And, if you know exactly what you want, don't want to wait, paying the premium for an average deal over a bottom-of-the-market deal may well be worth it.

This is why we offered full asking on our first contract. We wanted a small Aug/Sept/Oct UY BWV. Not that many come to market and they never sit around long. I thought about offering lower per point but that amount was not worth losing it.

 

[PolyRob]

As long as you offer above their “instant sale” price, not sure what ground they have to stand on with educating you

I've been lectured by a few agents over the years and informed my offer "would not pass ROFR" when it was well above the instant sale price

I'm pretty sure one of my offers with a particular agent was never even presented. Not that a seller can't state they won't entertain offers, but the agent replied to my email almost instantly that the seller would only come down $2 "after presenting my offer." I would rather them just not lie to me.

 

[pzw90]

I've been lectured by a few agents over the years and informed my offer "would not pass ROFR" when it was well above the instant sale price

I'm pretty sure one of my offers with a particular agent was never even presented. Not that a seller can state they won't entertain offers, but the agent replied to my email almost instantly that the seller would only come down $2 "after presenting my offer." I would rather them just not lie to me.

I totally understand, just pointing out the hypocrisy.
If it’s not passing ROFR, are you just offering the instant sale as a service to the seller to get rid of it to Disney? I doubt it because if it isn’t getting ROFRed they are stuck with it. So if the price is good enough for them to offer it, why is mine not?

 

[Brian Noble]

the agent replied to my email almost instantly that the seller would only come down $2 "after presenting my offer." I would rather them just not lie to me.

It is possible that the agent did present the offer---if the broker were the seller, for example.

 

[AstroBlasters]

I've been lectured by a few agents over the years and informed my offer "would not pass ROFR" when it was well above the instant sale price

I'm pretty sure one of my offers with a particular agent was never even presented. Not that a seller can't state they won't entertain offers, but the agent replied to my email almost instantly that the seller would only come down $2 "after presenting my offer." I would rather them just not lie to me.

How do you know it was a lie and not a broker owned contract?

 

[PolyRob]

I totally understand, just pointing out the hypocrisy.
If it’s not passing ROFR, are you just offering the instant sale as a service to the seller to get rid of it to Disney? I doubt it because if it isn’t getting ROFRed they are stuck with it. So if the price is good enough for them to offer it, why is mine not?

I completely understand which was my thought process as well. I gauge all my offers based on the instant sale price. It's almost like they pretend it doesn't exist when you're buying.

 

[PolyRob]

It is possible that the agent did present the offer---if the broker were the seller, for example.

How do you know it was a lie and not a broker owned contract?

This honestly never even crossed my mind at the time. It was a loaded VGF pre-Big Pine Key so no public commercial renting crackdown. That could be what happened!

 

[Sandisw]

I've been lectured by a few agents over the years and informed my offer "would not pass ROFR" when it was well above the instant sale price

I'm pretty sure one of my offers with a particular agent was never even presented. Not that a seller can't state they won't entertain offers, but the agent replied to my email almost instantly that the seller would only come down $2 "after presenting my offer." I would rather them just not lie to me.

As someone who has sold several, I did give parameters to the brokers as to what to actually present and not and what counter they were allowed to offer a buyer.

My guess is I am not unique in that. So, there may have been offers I never got because I didn’t want them.

My feeling is that sellers and buyers get to decide what they want and I don’t begrudge either side.

The key as a buyer is to find a seller who thinks the same for pricing as you and as a seller, the opposite.

It never took me more than 2 weeks to sell or buy.