ROFR Thread April - June 2017 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[ScubaCat]

TexasChick123---$100-$21195-210-BLT-Oct-0/16, 104/17, 210/18-Seller pays CC's and '17 MF's, Buyer Pays Fidelity Admin Fee- sent 3/17

Come on Disney. Go ahead and send me the notice that you're taking this one like I know you're going to so that I can get my deposit back please. :/ I know they read these boards!

They're working on flipping it now, no worries.

Unfortunately, that's $95/point for BLT (with the buyer paying the MF's on those points), which they're likely to try and flip themselves for $185/point. Anything under $105-$110 is a prime target.

Still, there's always a chance!

 

[TexasChick123]

Well, my time on this thread is over. Got the email:

Wendy98---$113-$24369-200-BLT-Dec-117/16, 200/17, 200/18- sent 3/23, passed 4/5

Congrats.

 

[pangyal]

TexasChick123---$100-$21195-210-BLT-Oct-0/16, 104/17, 210/18-Seller pays CC's and '17 MF's, Buyer Pays Fidelity Admin Fee- sent 3/17

Come on Disney. Go ahead and send me the notice that you're taking this one like I know you're going to so that I can get my deposit back please. :/ I know they read these boards!

Fingers and toes crossed this passes for you- it would be an AMAZING deal if you can sneak this through !

 

[TexasChick123]

They're working on flipping it now, no worries.

Unfortunately, that's $95/point for BLT (with the buyer paying the MF's on those points), which they're likely to try and flip themselves for $185/point. Anything under $105-$110 is a prime target.

Still, there's always a chance!

I appreciate your optimism. It is a nice compliment to my pessimism about this whole ROFR process! Honestly, at this point I just want to get my deposit back and take a break for a while and maybe indefinitely from BLT.

We want to add on to our VGF points, so I may stick with that going forward. I strongly feel that they will increase buybacks on VGF as Poly sales wind down. There's a constant demand for people to own there because of the prestige of the resort and the small size of the DVC. That's my tinfoil hat theory anyway!

Fingers and toes crossed this passes for you- it would be an AMAZING deal if you can sneak this through !

Thanks. I was hopeful at the start of it, but that has quickly evaporated. It's so frustrating because it seems like prices like this were getting through with much less push back a few months ago. I think I was late to the party on BLT deals. Oh well. I keep telling myself, it's just a timeshare. Their buybacks in ROFR help to keep the value high in resale, so I shouldn't complain too much considering I am a current owner!

 

[ScubaCat]

I appreciate your optimism. It is a nice compliment to my pessimism about this whole ROFR process! Honestly, at this point I just want to get my deposit back and take a break for a while and maybe indefinitely from BLT.

You're trying to buy something at around half the retail price that you'll have for (up to) the next 43 years, so I'd just keep submitting offers. You have no idea what's on DVD's waitlist, and you certainly don't want to overpay. I know it's annoying and feels like a letdown, but it's just a business transaction which carries no penalty if it DVD exercises their ROFR. Eventually one will go through, you'll get your BLT points, and then will wonder what the big deal really was.

You can always ask the title company hold the deposit in escrow to speed up future offers (so you don't have to keep mailing cashier's checks.)

 

[Sherrkel]

TexasChick123---$100-$21195-210-BLT-Oct-0/16, 104/17, 210/18-Seller pays CC's and '17 MF's, Buyer Pays Fidelity Admin Fee- sent 3/17

Come on Disney. Go ahead and send me the notice that you're taking this one like I know you're going to so that I can get my deposit back please. :/ I know they read these boards!

Good luck on that great deal! I hope you get it this time☺

 

[TexasChick123]

You're trying to buy something at around half the retail price that you'll have for (up to) the next 43 years, so I'd just keep submitting offers. You have no idea what's on DVD's waitlist, and you certainly don't want to overpay. I know it's annoying and feels like a letdown, but it's just a business transaction which carries no penalty if it DVD exercises their ROFR. Eventually one will go through, you'll get your BLT points, and then will wonder what the big deal really was.

You can always ask the title company hold the deposit in escrow to speed up future offers (so you don't have to keep mailing cashier's checks.)

Good advice to just keep sending my offers and one will go through. I don't really have a specific time that I need it either because of our VGF points.

Great suggestion about holding it in escrow. I will ask if I use the same broker for the next deal. I am kind of disloyal about that as I look for the best deal with the number of points we are targeting and don't have broker loyalty. :/

 

[ScubaCat]

Good advice to just keep sending my offers and one will go through. I don't really have a specific time that I need it either because of our VGF points.

Great suggestion about holding it in escrow. I will ask if I use the same broker for the next deal. I am kind of disloyal about that as I look for the best deal with the number of points we are targeting and don't have broker loyalty. :/

By Florida law, you can use any title company or attorney that you want. The brokers steer you towards the one they have a relationship with and prefer you to use, but it's ultimately your choice. Ask the title agent to hold the money in escrow, and when you make the next offer (if there is one... this could be THE ONE... I have a good feeling this time! ), just tell them which title company you'll be closing with.

 

[TexasChick123]

By Florida law, you can use any title company or attorney that you want. The brokers steer you towards the one they have a relationship with and prefer you to use, but it's ultimately your choice. Ask the title agent to hold the money in escrow, and when you make the next offer (if there is one... this could be THE ONE... I have a good feeling this time! ), just tell them which title company you'll be closing with.

Thank you! I though you it was broker specific for holding the money in escrow. It makes more sense that it is tied to the particular title company though. Great advice. I love these boards. I learn something every day from them about this process! Thanks again!!!

 

[ScubaCat]

The title agent puts your money in escrow and distributes the funds according to the terms of the contract. At closing they deduct their fee and costs, and disburse commission to the broker and the balance to the seller. Check your current contract and see where you sent the deposit to. You'll see

Always happy to help.

 

[huskerfanatic7]

TexasChick123---$100-$21195-2. 10-BLT-Oct-0/16, 104/17, 210/18-Seller pays CC's and '17 MF's, Buyer Pays Fidelity Admin Fee- sent 3/17

Come on Disney. Go ahead and send me the notice that you're taking this one like I know you're going to so that I can get my deposit back please. :/ I know they read these boards!

huskerfanatic7---$109-$19358-170-BLT-Jun-0/15, 0/16, 49/17, 170/18-sent 3/15

we are in the same boat. they shouldn't wait the full 30 days to tell us they took our contracts. the longer it goes on the more depressed I get

 

[kboo]

TexasChick123---$100-$21195-210-BLT-Oct-0/16, 104/17, 210/18-Seller pays CC's and '17 MF's, Buyer Pays Fidelity Admin Fee- sent 3/17

Come on Disney. Go ahead and send me the notice that you're taking this one like I know you're going to so that I can get my deposit back please. :/ I know they read these boards!

You've got some c*j*n*s, girl! (I was afraid to even offer $105 on mine). Some glimmer of hope: the fact that they haven't taken it yet means that they are still looking for a buyer - or enough of a buyer that they don't lose $ waiting to sell these points.

Which leads me to a related question: If Disney exercises ROFR and then is holding the points while waiting for a buyer, what can be done with the points? I.e., can it sit in "cash" inventory for a while? Or are the points in purgatory unless sold?

huskerfanatic7---$109-$19358-170-BLT-Jun-0/15, 0/16, 49/17, 170/18-sent 3/15

we are in the same boat. they shouldn't wait the full 30 days to tell us they took our contracts. the longer it goes on the more depressed I get

With TexasChick123's contract also waiting, it seems like a no brainer that they'd be holding on to yours, especially when many similar BLT contracts have passed in this time frame. I came on here to look because I thought you were going to post that you'd passed!

 

[TexasChick123]

The title agent puts your money in escrow and distributes the funds according to the terms of the contract. At closing they deduct their fee and costs, and disburse commission to the broker and the balance to the seller. Check your current contract and see where you sent the deposit to. You'll see

Always happy to help.

Thanks. I have tried to figure out Disney's logic with ROFR and work around it, but it is maddening. Someone described it as a drunken monkey throwing darts at a board. I thought maybe going for a contract with a weird amount of points in it would make it harder for Disney to sell it to someone direct. At $185pp, every extra point you don't want adds up quickly! 210 points versus 200 points direct is a $1850 difference which isn't a small amount. Add to that the increased MF's year after year on an extra 10 points you didn't want initially. It was a good theory, but I am afraid it isn't playing out like I had hoped!

huskerfanatic7---$109-$19358-170-BLT-Jun-0/15, 0/16, 49/17, 170/18-sent 3/15

we are in the same boat. they shouldn't wait the full 30 days to tell us they took our contracts. the longer it goes on the more depressed I get

I was mad about it at the end of last week when a few heard back with similar or the same submission dates had already heard back mostly because I just had Disney exercise ROFR and was having deja vu all over again. I was even angrier Tuesday when everyone else was hearing back, and I still don't know. Don't get me wrong, I am VERY happy for everyone else, but frustrated for us because it takes time to negotiate, sign all the paperwork, etc. I thought I would see that you had passed. I feel you because I had a June contract taken a few weeks ago.

You've got some c*j*n*s, girl! (I was afraid to even offer $105 on mine). Some glimmer of hope: the fact that they haven't taken it yet means that they are still looking for a buyer - or enough of a buyer that they don't lose $ waiting to sell these points.

Which leads me to a related question: If Disney exercises ROFR and then is holding the points while waiting for a buyer, what can be done with the points? I.e., can it sit in "cash" inventory for a while? Or are the points in purgatory unless sold?

I actually had 4 BLT sellers willing to part with their points for $100-$105pp on all the contracts (one with full 2017 points, and all the others with partial). A lot of the brokers literally just pick a number out of thin air, and the sellers (some, not all) are willing to drop, A LOT. One seller was listed at $115pp and was willing to come down to $105pp. Some sellers have it listed where they want, and others are very negotiable. I think the longer it has been sitting, the more willing they may be to reduce the price. Some sellers are completely delusional though, and think their points are made of gold! If a seller has a loan taken out to cover the cost of the points, it is tough to get them to come down because they don't want to bring money to the table at closing. I found this more so when looking at VGF.

I have all the same questions as you about the points just sitting in inventory when Disney buys points back.

 

[ScubaCat]

I have tried to figure out Disney's logic with ROFR and work around it, but it is maddening.

There are just so many factors that contribute to the decision, and they're fluid, too (such as who's on the wait list for how many points in certain unit #s, etc.) of Keep in mind that DVD's points are pooled in each residential unit. They can sell any increment they want out of each unit at any time they want. Extra points are also traded, sold as one time use points, or who knows what else. Trying to guess is nearly a useless exercise, I'm afraid. Best thing is to just offer and buy what you want and if they buy it back, just rinse and repeat until you get a contract that suits you.

 

[TexasChick123]

Well, I have a bizarre update. The seller's kid(s) made a reservation for January 2018 using her points without her knowledge, and Disney noticed the discrepancy between the points listed in the contract and the points available and contacted the broker. The broker reached out to the seller who had no knowledge of this, and owner still has not resolved the issue. The broker told me to move on because this was sounding fishy to her, and she didn't like that the owner had ample time to rectify it and did not. It sounded like it would deplete the 2017 points and borrow some of the 2018 points which obviously hugely changes the contract. Man, this stinks. I do feel soooo much better just knowing now though which is worth something!

 

[PaintsWithAllTheColors]

Well, I have a bizarre update. The seller's kid(s) made a reservation for January 2018 using her points without her knowledge, and Disney noticed the discrepancy between the points listed in the contract and the points available and contacted the broker. The broker reached out to the seller who had no knowledge of this, and owner still has not resolved the issue. The broker told me to move on because this was sounding fishy to her, and she didn't like that the owner had ample time to rectify it and did not. It sounded like it would deplete the 2017 points and borrow some of the 2018 points which obviously hugely changes the contract. Man, this stinks. I do feel soooo much better just knowing now though which is worth something!

Yeah I agree with your broker, that is super weird stuff... I'm bummed for you that it's not working out though

Thinking about it, the brokers are supposed to verify the # of points before sending it to ROFR (at least from what I understand), which means the reservation was booked after it got sent. That seems preeettttty sneaky/convenient to me. Also, I thought, "how nice of Disney to make sure you weren't getting duped!" until I realized they probably were more concerned with their own ability to sell it. naive me....

 

[TexasChick123]

Also, I thought, "how nice of Disney to make sure you weren't getting duped!" until I realized they probably were more concerned with their own ability to sell it. naive me....

It's so true. I smiled when I read this. I bet you're right!

 

[ScubaCat]

The broker told me to move on because this was sounding fishy to her, and she didn't like that the owner had ample time to rectify it and did not.

Yeah, chances are that there will be further drama down the line.

Look at the bright side - Disney did not buy it back this time!!

 

[TexasChick123]

Yeah, chances are that there will be further drama down the line.

Look at the bright side - Disney did not buy it back this time!!

I agree. I was quick to cut bait! Also, I just remembered that the broker told me the reason the seller was selling the points was because no one was using them, and she'd been renting them for years. I think the kids thing is a bunch of baloney. She rented them out probably. I will probably never know. Time to move on.

 

[PapaCharles]

Thanks for all the posts and work on ROFR threads, it has been extremely helpful, encouraging and disappointing

We just signed our first dvc(and probably not last) purchase contract