ROFR Thread April to June 2019 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Dan1]

Hello Friends

Dan1---$115-$19115-150-AKV-Dec-150/17, 150/18, 150/19, 150/20- sent 3/18

Note: While the Date sent was March 18th, when I called late last week on the status the girl stated that while, yes, they received it on that date it was not sent to the folks who actually make the ROFR decision until more than a week later on March 26th.

 

[Dan1]

Hello Friends

Last one:

Dan1---$97-$17195-160-SSR-Dec-0/17, 160/18, 160/19, 160/20- sent 4/14

Yes, we are spreading around at the resorts we want to stay at. Had to make the tough for us call to not buy at resorts with the dreaded 2042 expiration date.

 

[LynzyLady2019]

We're on day 49. This has honestly put me off buying at all.... I love Disney but this is unacceptable.

 

[Katie L]

We're on day 49. This has honestly put me off buying at all.... I love Disney but this is unacceptable.

I'm feeling this also.

 

[Dan1]

We're on day 49. This has honestly put me off buying at all.... I love Disney but this is unacceptable.

Not to excuse Disney at all, did they say if they actually sent your contract to the ROFR folks on the same day your broker sent the contract to Disney? For our AKL contract they (Disney) waited 8 days before they sent it to the ROFR folks. Sure, that means that the 'traditional' 30 day informal clock starts ticking for us 8 days later. Could be good to know (why, I don't know).

 

[mrsap]

We're on day 49. This has honestly put me off buying at all.... I love Disney but this is unacceptable.

WOW. Just terrible.

 

[RamblinWreck]

Not to excuse Disney at all, did they say if they actually sent your contract to the ROFR folks on the same day your broker sent the contract to Disney? For our AKL contract they (Disney) waited 8 days before they sent it to the ROFR folks. Sure, that means that the 'traditional' 30 day informal clock starts ticking for us 8 days later. Could be good to know (why, I don't know).

This is just even more reason to make sure your contract only gives Disney the minimum 30 days that they require. If the people who receive your contract wait 8 days before sending it along to the ROFR people, that becomes their problem instead of yours. Instead of you now likely having to wait an extra 8 more days, now Disney only has 22 days to make a decision on your contract.

 

[RamblinWreck]

I'm feeling this also.

I'm feeling similarly. It just feels like Disney is abusing the process at this point, for whatever reason.

 

[LynzyLady2019]

Not to excuse Disney at all, did they say if they actually sent your contract to the ROFR folks on the same day your broker sent the contract to Disney? For our AKL contract they (Disney) waited 8 days before they sent it to the ROFR folks. Sure, that means that the 'traditional' 30 day informal clock starts ticking for us 8 days later. Could be good to know (why, I don't know).

Disney didn't send to the ROFR dept for over a month. We submitted on 2/26 and they said they sent it over on 4/3, so several days after our 30 days was passed.
That is still Disney proper though, the broker sent it over very timely.

 

[LynzyLady2019]

This is just even more reason to make sure your contract only gives Disney the minimum 30 days that they require. If the people who receive your contract wait 8 days before sending it along to the ROFR people, that becomes their problem instead of yours. Instead of you now likely having to wait an extra 8 more days, now Disney only has 22 days to make a decision on your contract.

Yes, I will ask about this next time for sure. We were not supposed to have any kind of delayed closing but they wrote a closing date 3 months out and the way they phrased it actually makes it a soft closing date so Disney doesn't even have to hold to that.

 

[Dan1]

Disney didn't send to the ROFR dept for over a month. We submitted on 2/26 and they said they sent it over on 4/3, so several days after our 30 days was passed.
That is still Disney proper though, the broker sent it over very timely.

Wow. Speachless. What's the closing date per the contract supposed to be? Have you had your broker 'talk' to Disney about this (and how they really owe it to you to just rubber stamp ROFR PASS on your contract to make up for your inconvenience)?

 

[Katie L]

I'm feeling similarly. It just feels like Disney is abusing the process at this point, for whatever reason.

We go to Disney in ten days. If we pass we would immediately be buying APs (-$1600). We have minimum two trips we would take over the next ten months... That is thousands of dollars we would spend... Sure DVC is operating in a silo that doesn't care about parks hitting their numbers - but they should.

We would have between tempted by Riviera without the resale restrictions... Am I that abnormal? I have limited vacation dollars and I'm willing to allocate quite a few to Disney. But that could change. And this bad taste in my mouth makes me question how much I want to give them.

 

[LynzyLady2019]

Wow. Speachless. What's the closing date per the contract supposed to be? Have you had your broker 'talk' to Disney about this (and how they really owe it to you to just rubber stamp ROFR PASS on your contract to make up for your inconvenience)?

The closing date is 5/22 (I didn't know this was something I should question), so I think that is why they are taking their sweet time. Would that even work? I assume Disney doesn't really care about my inconvenience or the emotional frustration of this process.

 

[mrsap]

The closing date is 5/22 (I didn't know this was something I should question), so I think that is why they are taking their sweet time. Would that even work? I assume Disney doesn't really care about my inconvenience or the emotional frustration of this process.

Mine also says 5/22.

 

[RussellandCo]

I had a long conversation with Jennifer James who is the senior executive in contracts. We spoke clearly about boundaries and guidelines and ethics with regards to tying up people’s money and time indefinitely. She knows our displeasure. She also knows we are direct owners as well and, if I’m being fair, that experience was less than desirable as well. She shared that every co tract goes through a process of 2 eyes before it is stamped. Ours has currently gone through the first process and been marked to buy back. It is in the middle of the 2nd stage. I emphatically, in a very nice manner, expressed that, given our experiences, it would not behoove them to buy this back after such an extended period of time. She did state that they typically don’t decision contracts until about 3 weeks before the set closing date. I expressed that I would be escalating this issue up the food chain to Terri Schultz. Terri is already aware of the previous experiences we have had. Jennifer indicated she was going to see what she could do to speed up this process for us.

 

[mrsap]

I had a long conversation with Jennifer James who is the senior executive in contracts. We spoke clearly about boundaries and guidelines and ethics with regards to tying up people’s money and time indefinitely. She knows our displeasure. She also knows we are direct owners as well and, if I’m being fair, that experience was less than desirable as well. She shared that every co tract goes through a process of 2 eyes before it is stamped. Ours has currently gone through the first process and been marked to buy back. It is in the middle of the 2nd stage. I emphatically, in a very nice manner, expressed that, given our experiences, it would not behoove them to buy this back after such an extended period of time. She did state that they typically don’t decision contracts until about 3 weeks before the set closing date. I expressed that I would be escalating this issue up the food chain to Terri Schultz. Terri is already aware of the previous experiences we have had. Jennifer indicated she was going to see what she could do to speed up this process for us.

I’m happy you shared your concerns and talked to someone. It’s inexcusable!!!!!! I should probably call. Did you call the same Disney number?

 

[LynzyLady2019]

I had a long conversation with Jennifer James who is the senior executive in contracts. We spoke clearly about boundaries and guidelines and ethics with regards to tying up people’s money and time indefinitely. She knows our displeasure. She also knows we are direct owners as well and, if I’m being fair, that experience was less than desirable as well. She shared that every co tract goes through a process of 2 eyes before it is stamped. Ours has currently gone through the first process and been marked to buy back. It is in the middle of the 2nd stage. I emphatically, in a very nice manner, expressed that, given our experiences, it would not behoove them to buy this back after such an extended period of time. She did state that they typically don’t decision contracts until about 3 weeks before the set closing date. I expressed that I would be escalating this issue up the food chain to Terri Schultz. Terri is already aware of the previous experiences we have had. Jennifer indicated she was going to see what she could do to speed up this process for us.

Would you be comfortable sharing what your experience was when you purchased direct?

 

[DisneyOutsider]

We go to Disney in ten days. If we pass we would immediately be buying APs (-$1600). We have minimum two trips we would take over the next ten months... That is thousands of dollars we would spend... Sure DVC is operating in a silo that doesn't care about parks hitting their numbers - but they should.

We would have between tempted by Riviera without the resale restrictions... Am I that abnormal? I have limited vacation dollars and I'm willing to allocate quite a few to Disney. But that could change. And this bad taste in my mouth makes me question how much I want to give them.

The truth is that if they take your contract, it's (unfortunately) because someone else is about to pay a much higher price for those points directly to Disney. So really they are trading your spend for someone else's.. who will be spending quite a bit more.

In a perfect world, everyone would be making informed purchases and only paying market value, which would remove the temptation for Disney to exercise ROFR. But reality is we as resale buyers have to understand that this is what we are getting ourselves into... that the DVC contracts team has no obligation nor motivation to make the re-seller's life easier (we have competing priorities) and that Disney will act in the best interest of their financial goals as a company as well as their existing owners (this one is more debatable).

It really stinks that they can take so much time before making the final decision to purchase, but from their standpoint it would be foolish for them not to take all the time that they need. Others have suggested working with the resale broker to encourage a tighter timeline from Disney. I'd be curious to see how that works out, but something tells me there's a reason it's not already common practice.

 

[Dan1]

I checked the purchase / sale agreement for the two contracts that remain outstanding. Both have the closing date two months from the contract date. This doesn't seem too unreasonable. Yet, I'm curious if this (two month DVC closing window) is a requirement by Disney or specific to our broker (who we really, really like). How far out are other's closing date?

 

[Dan1]

The closing date is 5/22 (I didn't know this was something I should question), so I think that is why they are taking their sweet time. Would that even work? I assume Disney doesn't really care about my inconvenience or the emotional frustration of this process.

So that would make almost 3 months form contract date to closing date, is that right? Ours have been 2 months out from our broker.