ROFR question

[N&B'smom]

I'm REALLY worried about this ROFR issue. I have a question though for you experience DVC'ers. I was told that Disney could possibly decide they would buy it for the contract that we have but we would have the option to pay more and then we Disney would allow us to purchase it...does that make sense? Has anyone heard of this? My hubby has a friend that told him that's what happened with him when he purchased a resale for OKW. He said the guy just wanted to unload it and he was going to get a GREAT deal but Disney wouldn't go for it. He then was able to purchase it though for a higher price. Do you think that's accurate info? I told my hubby that I think if Disney exercises it's right then that's the end of it. Anyone know? Sorry if this is confusing.

I guess I'm just REALLY worried and grasping at straws. Even though I really feel that once Disney makes their decision there's NO negotiating.

Shelby
(In the ROFR wait for VWL)

 

[RobDoc]

Disney does not have to allow the contract to be rebid after they exercise ROFR. Some have reported that they were able to increase their offer after Disney accepted the contract, but that will have to be negotiated between the seller and Disney (the buyer won't be informed by DVC, only the seller).

DVC currently has contracts available in some Use Years at OKW, HH and VB, but the other resorts are scarce and ROFR is their best source to get those contracts for their waitlist of members wanting add-ons. VWl, BWV and BCV contracts are probably most likely to be taken thru ROFR. I'd make sure my offer is likely to clear that process if I were serious about buying at this time.

Good luck!

 

[bobbiwoz]

There are people who have posted that they were able to counter offer. More than one person has said this, so it must be the case. Disney exercised ROFR on a contract that we tried to purchase in '03 and we didn't know about that option, so I don't know about it first hand. Some say that you should tell your broker that you are willing to go higher if Disney tries to take it.

We "lived" after Disney took that contract, we're in DVC now. That contract just wasn't meant to be ours.

Pixie dust!

Bobbi

 

[N&B'smom]

Thanks for the info. I can't stand when something is out of my control!!! And of course we just have to LOVE the VWL, probably the one with the longest waiting list since it's the smallest. *sigh* All I can do is wait and PRAY!!

Bobbi - I live not too far from Cape May!!!! What a pretty town!!! My dh and I have stayed at a few B&B's there over the years!

Shelby

 

[donald...really]

We just lost a VWL contract to ROFR. Offered $75 a point for a 200 point contract, March use year -- Disney bought it.

 

[N&B'smom]

That stinks! Sorry that happened!!!

Shelby

 

[bobbiwoz]

donald...really, I'm very sorry to hear that. We had offered $75 per point for our successful contract, it was refused, so we went with the $77 that was asked for. You'll find another one, I'm sure!

N&B's mom, we own the house with my sister who lives in Haddonfield, so the house does get used more than we're able to get there. We have return address stickers with the Cape May address, and it's in the shape of a huge Victorian mansion, and titled "Our shore house!" Of course everyone asks if that's our house, but no, we own just a teeny house, just a piece of the heaven that's the Jersey Shore!

More Pixie dust for you!

Bobbi

 

[Scotch]

We just lost a VWL contract to ROFR. Offered $75 a point for a 200 point contract, March use year -- Disney bought it.

Just curious re the other terms of the contract -- point-wise was it a fully loaded contract, stripped, etc.?

 

[N&B'smom]

I just found out it's no longer an option to counter offer, whatever Disney decides, stands.

Shelby

 

[DisZip]

We just lost a VWL contract to ROFR. Offered $75 a point for a 200 point contract, March use year -- Disney bought it.

Same here - just found out today that Disney exercised ROFR on the 150pt VWL contract we were buying- at $75/pt.

 

[bobbiwoz]

Wow! There are contracts out there that are only asking for $70 a point for VWL, what's going on?

Bobbi

 

[Scotch]

Same here - just found out today that Disney exercised ROFR on the 150pt VWL contract we were buying- at $75/pt.

Same question -- was this a stripped contract or fully loaded, etc.? I'm just wondering if Disney is only buying back contracts with all or a certain # of current year points that meet a certain price point right now. We are also waiting on ROFR.

 

[DisZip]

Same question -- was this a stripped contract or fully loaded, etc.? I'm just wondering if Disney is only buying back contracts with all or a certain # of current year points that meet a certain price point right now. We are also waiting on ROFR.

It had all 2005 points and 8 banked from 2004 - September use year.

 

[Scotch]

thanks

 

[DebbieB]

Wow! There are contracts out there that are only asking for $70 a point for VWL, what's going on?

Bobbi

Now that they are raising the direct price on BCV, VWL & BWV, DVC is interested in buying up as many points as they can so they have raised the ROFR bar. Anyone who has a contract on the listing should probably raise their asking price, especially if it's not stripped.

The way the contract is written, DVC does not have to allow a counteroffer. The contract says if they exercise ROFR they can close immediately. In the past, they have allowed some counteroffers as a courtesy but they legally did not have to.

 

[N&B'smom]

What do you mean by 'stripped'?

Shelby

 

[Scotch]

Now that they are raising the direct price on BCV, VWL & BWV, ...

Isn't that just a rumor?

 

[Scotch]

By "stripped" I mean contracts where many or all of current year points are not available.

 

[bobbiwoz]

And I have to ask, are they going to ask for more than $89 points for those contracts if you want an add on? (Doesn't directly hit me, my DSister is gifting us with 50 points. She really wants to be sure that she's always invited to our family vacations. I would always invite her, but DH is happy with her "solution" to the scenerio.)

We're on a waitlist BWV, March use year, just got on the waitlist at the end of December.

Bobbi

 

[N&B'smom]

Just curious for those that just found out Disney did use ROFR, how long did it take for you to be notified?

Shelby