ROFR point depleted contacts

[zavandor]

One thing that affects ROFR, I think, is Unit number. For example, they might have 20 points "stranded" in a certain unit they cannot sell because the minimum for an add-on is at least 25. If a contract with that unit comes to ROFR, they would be able to join it with the other points and finally resell them. So that contract might be more interesting than a similar contract for a different unit. It seems Random to us, but there is a reason for them.
And in the past UY could have been an element, but that isn't anymore.
And the drunken money throwing darts, don't forget the monkey.

 

[Sandisw]

I thought there was another one either late last year or earlier this year - European owner. Or I may be thinking of the one that they exercised ROFR and then said ooops - sorry we don't want it. It is pretty rare.

I remember that one and it was posted as an oops! So, this was the first one I have read about that actually happened. But, you are right, it is still rare!!!

 

[KimMcGowan]

I just bought some add-on points direct for BRV. I suppose I could look at the unit and the percentage of that unit that I bought

I have a question about this. How do I see the exact unit I purchased? (Ha! We only own 100 points, all at the Poly. I am sure a more appropriate question is what thread of carpet or what screw I purchased.). I read in another thread how to see this information but now I can’t find what I read. Also, at the Poly do you “own” a certain room or just a part of a specific building? I can see on the Orange County site that I have an ownership in unit 85 - but have no idea how to figure out what building or room that is???

 

[Lorana]

I have a question about this. How do I see the exact unit I purchased? (Ha! We only own 100 points, all at the Poly. I am sure a more appropriate question is what thread of carpet or what screw I purchased.). I read in another thread how to see this information but now I can’t find what I read. Also, at the Poly do you “own” a certain room or just a part of a specific building? I can see on the Orange County site that I have an ownership in unit 85 - but have no idea how to figure out what building or room that is???

Your deed and contract will list what your unit is. Then go to: https://or.occompt.com/recorder/eagleweb/docSearch.jsp?searchId=9

I unchecked the box on the right ("Uncheck box to search specific document types") to select "Condo Drawing" and then searched for Grantee = "ResortName" (such as Polynesian) with a Wildcard search type. Then I just clicked a few links until I found my actual unit. They usually appear in order, but not always. For example, I own a very small piece of Unit 69 at PVB, which is Tokelau 2nd Floor, Studio-2919, 2920, 2921, 2922.

I've looked up my units in BRV, CCV, RIV, PVB, and SSR. I just have AKV to do. But, I was unable to find CCV Unit 20b (or any of the #20 Unites) in any of the drawings on the comptroller site. It seems they didn't get uploaded, or I missed it somehow.

 

[KimMcGowan]

Your deed and contract will list what your unit is. Then go to: https://or.occompt.com/recorder/eagleweb/docSearch.jsp?searchId=9

I unchecked the box on the right ("Uncheck box to search specific document types") to select "Condo Drawing" and then searched for Grantee = "ResortName" (such as Polynesian) with a Wildcard search type. Then I just clicked a few links until I found my actual unit. They usually appear in order, but not always. For example, I own a very small piece of Unit 69 at PVB, which is Tokelau 2nd Floor, Studio-2919, 2920, 2921, 2922.

I've looked up my units in BRV, CCV, RIV, PVB, and SSR. I just have AKV to do. But, I was unable to find CCV Unit 20b (or any of the #20 Unites) in any of the drawings on the comptroller site. It seems they didn't get uploaded, or I missed it somehow.

You are awesome! Thank you, very much. I found unit 85 but do not know how I can tell what building. (I think it is Tokelau - the plans say the building runs North and South, so it would have to be Tokelau, right?) However, that is just a guess. I do not see anywhere that it tells me that this specific building is Tokemau or Moorea.

 

[Lorana]

You are awesome! Thank you, very much. I found unit 85 but do not know how I can tell what building. (I think it is Tokelau - the plans say the building runs North and South, so it would have to be Tokelau, right?) However, that is just a guess. I do not see anywhere that it tells me that this specific building is Tokemau or Moorea.

It doesn’t unfortunately. I figured it out by piecing together the different building layouts and the shapes of the buildings to determine which one was Tokelau.

 

[Paul Stupin]

Any and every contract seems to be open for the possibility of ROFR. I recall a time several years ago when people thought they figured out that DVC wasn't and wouldn't take stripped contracts and suddenly just about every one taken was stripped. You really can't guess what DVC will do but we do know they don't ROFR everything. I've always pushed back when a realtor has told someone "to offer a few dollars more to ensure it will pass". Often that is just moving more money than otherwise necessary from the buyer to the seller and the broker. The process is really just one you have to make the offer your comfortable with on a contract you want and then wait and see.

In buying resale, most of the time I’ve tried to stay above the prices of ROFRed contracts. If time and convenience mean nothing, then your advice does in fact make sense. But when the price a buyer is comfortable with falls within ROFR range, there’s a chance the contract can get taken, which will extend the buying process weeks and even months if the buyer’s subsequent offers fall within the same price range.

Many buyers are comfortable with this seemingly endless loop, because sooner or later they’ll get a low priced contract, since, as you said, Disney can’t ROFR everything. But it can take a while. Sometimes, a long while.

 

[KAT4DISNEY]

In buying resale, most of the time I’ve tried to stay above the prices of ROFRed contracts. If time and convenience mean nothing, then your advice does in fact make sense. But when the price a buyer is comfortable with falls within ROFR range, there’s a chance the contract can get taken, which will extend the buying process weeks and even months if the buyer’s subsequent offers fall within the same price range.

Many buyers are comfortable with this seemingly endless loop, because sooner or later they’ll get a low priced contract, since, as you said, Disney can’t ROFR everything. But it can take a while. Sometimes, a long while.

Well, I've always followed my advice and never lost a contract. I think I'm done but I guess I'll still knock on wood.

So it's not just some theoretical thought but experience. And perhaps more experience that I'd care to admit. haha

Offering more just "to pass ROFR" is usually just paying more than necessary. I'm sticking to it. That doesn't mean that a person won't have a justified reason to do that but to generalize I consider it very poor advice. Resale is almost 100% about saving money so save the most you can.

 

[Paul Stupin]

Well, I've always followed my advice and never lost a contract. I think I'm done but I guess I'll still knock on wood.

So it's not just some theoretical thought but experience. And perhaps more experience that I'd care to admit. haha

Offering more just "to pass ROFR" is usually just paying more than necessary. I'm sticking to it. That doesn't mean that a person won't have a justified reason to do that but to generalize I consider it very poor advice. Resale is almost 100% about saving money so save the most you can.

Again, good advice if you have unlimited time and patience. Not so otherwise. If you read the ROFR boards, you’ll find story after story of buyers who have had multiple contracts taken, one after the other, in many cases their first attempts at buying DVC, because their offers submitted were always in the “ROFR” zone. And every one of them got taken. There’s usually a happy ending, where a lowball offer finally passes after months and months. So just because it hasn’t happened to you doesn’t mean it hasn’t happened. And money was indeed saved, but in those cases it took forever.

Thats why I try to stay out of the ROFR zone, where for me the extra money saved in many cases isn’t enough to justify the the risk, and the extra weeks or months that might result. And I’ve always received substantial savings over direct.

 

[KAT4DISNEY]

Again, good advice if you have unlimited time and patience. Not so otherwise. If you read the ROFR boards, you’ll find story after story of buyers who have had multiple contracts taken, one after the other, in many cases their first attempts at buying DVC, because their offers submitted were always in the “ROFR” zone. And every one of them got taken. There’s usually a happy ending, where a lowball offer finally passes after months and months. So just because it hasn’t happened to you doesn’t mean it hasn’t happened. And money was indeed saved, but in those cases it took forever.

Thats why I try to stay out of the ROFR zone, where for me the extra money saved in many cases isn’t enough to justify the the risk, and the extra weeks or months that might result. And I’ve always received substantial savings over direct.

It's the blanket thought that anyone knows what price will pass that I have an issue with. There are contracts taken that nobody thought would have. And then there are plenty that pass that were lower than what people thought ever could. My actual advice about making an offer that you would find looking back is to take the information you can gather and make the best offer that makes sense to you. A blanket statement that offering a bit more will pass ROFR is never what I could recommend because nobody other than DVC knows what DVC will take. That's the actual point I've been making thru out this thread.

 

[Paul Stupin]

It's the blanket thought that anyone knows what price will pass that I have an issue with. There are contracts taken that nobody thought would have. And then there are plenty that pass that were lower than what people thought ever could. My actual advice about making an offer that you would find looking back is to take the information you can gather and make the best offer that makes sense to you. A blanket statement that offering a bit more will pass ROFR is never what I could recommend because nobody other than DVC knows what DVC will take. That's the actual point I've been making thru out this thread.

I think you’ll find that offering a bit above the current ROFR price really does increase the buyers‘ chances of passing. ROFR is unpredictable, but there are enough articles and data every month that folks can get a general idea of what’s happening out there, and what prices will both increase and diminish their contract‘s chances of being taken. Of course there are always exceptions and outliers, and blanket statements aren't 100% accurate, but it’s always worked for me.
I don’t think we’re actually disagreeing, since I don’t think you’re talking about monumentally lowball offers that occasionally pass, that some buyers make repeatedly on an endless months or years long quest to play the odds and ultimately get the lowest price.

 

[lisaviolet]

Wow. First one confirmed! Well that goes out the window!

Well possibly not out the window, as it was quite a while ago.

So maybe they just stopped the practice.

if I sold another I would love them to take it (sorry buyers, I am obviously evil). The transaction was so simple and this international seller gets frustrated waiting for domestic buyers!