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

[Dan1]

I had a broker tell me that price is a really insignificant factor, unless it is greatly underpriced, then you will stand a high chance of not passing, but otherwise, it is more on the use year, points available and the unit number on your contract.

My broker said it is only based on price + who plays closing. Why would Unit Number be at all relevant?
Thanks for the clarity.

 

[CookieandOatmeal]

Now that I finally convinced my hubs to let me buy a small resale contract (50pts) at the Poly to add on to our two Poly contracts, they have become more scarce. Gotta be patient.

 

[Dan1]

Now that I finally convinced my hubs to let me buy a small resale contract (50pts) at the Poly to add on to our two Poly contracts, they have become more scarce. Gotta be patient.

PM'd you where you can find 3 of them.

 

[jamie3631]

My broker said it is only based on price + who plays closing. Why would Unit Number be at all relevant?
Thanks for the clarity.

Unit number is relevant because my understanding is that they could only combine points in that unit number. They could not combine points with different unit numbers, but who knows? I don't think any broker or anyone really fully knows why they make the decisions they do, but there is clearly a mix of different factors beyond strictly just price. We can see that on the listing of what passes and is taken. The Drunken Monkey is a real thing lol!

 

[crvetter]

Unit number is relevant because my understanding is that they could only combine points in that unit number. They could not combine points with different unit numbers, but who knows? I don't think any broker or anyone really fully knows why they make the decisions they do, but there is clearly a mix of different factors beyond strictly just price. We can see that on the listing of what passes and is taken. The Drunken Monkey is a real thing lol!

I think the biggest reason for the Unit was because it dictated the Use Year of the points, though all that no longer matters with the flexible Use Year. I'm sure now they are going to be going for the cheapest points and small contracts in particular. While they can't combine point between Units, they have been known to offer owners two small contracts to get them the points they need, which now is easy to do with the flexible Use Years. Also legally speaking, I think, there is nothing that stops a Deed from declaring ownership interests in two real estate interests, though I wonder if the POS stops DVC from doing this. At least this last case works in IL and PA for sure (one deed two real estate interests).

 

[Dan1]

Unit number is relevant because my understanding is that they could only combine points in that unit number. They could not combine points with different unit numbers, but who knows?

Hi Jamie,
Who would want to combine points, why, and when? I'm not sure I understand the combine points aspect.

Do you mean that if they had a direct sales situation where someone wanted say 300 point contract they would turn around and offer two 150 point contracts that they took from ROFR as long as the two 150 point contracts were in the same room / Unit?

Thanks for the clarity!

 

[jamie3631]

Hi Jamie,
Who would want to combine points, why, and when? I'm not sure I understand the combine points aspect.

Do you mean that if they had a direct sales situation where someone wanted say 300 point contract they would turn around and offer two 150 point contracts that they took from ROFR as long as the two 150 point contracts were in the same room / Unit?

Thanks for the clarity!

Hi Dan,

Yes that's what I mean. The combining points would be done by Disney to satisfy a direct sale.

 

[ohana99]

Best of luck! I’m currently waiting on an answer for 150 pt BWV contract, also at $115 ppt. I’m on day 34.

Any luck yet?? I’m in the same boat as you

 

[jonesmatNY]

Jonesmatny---$160-$16750-100-BLT-Feb-0/18, 0/19, 100/20, 100/21- sent 3/26

Passed ROFR on 4/18.

 

[RamblinWreck]

My broker is trying to tell me that we can't do the 31 day thing because Disney has the right to take all the way up until the closing date to make their decision. Therefore, if they take all 30 days we will be screwed because we can't close in one day.

I said that's BS because even if we give them 60 days, they could take all 60 days to make their decision. Nearly every contract I've seen so far already has verbiage that allows the closing date to be extended if it needs to be.

Also, Disney's rules don't in fact give them up to the closing date. They give Disney up until the "proposed date of transfer." This is exactly why every contract already has provisions in it for extending the closing date if necessary.

Bottom line.... I'm not buying it, lady!

 

[DisneyOutsider]

My broker is trying to tell me that we can't do the 31 day thing because Disney has the right to take all the way up until the closing date to make their decision. Therefore, if they take all 30 days we will be screwed because we can't close in one day.

I said that's BS because even if we give them 60 days, they could take all 60 days to make their decision. Nearly every contract I've seen so far already has verbiage that allows the closing date to be extended if it needs to be.

Also, Disney's rules don't in fact give them up to the closing date. They give Disney up until the "proposed date of transfer." This is exactly why every contract already has provisions in it for extending the closing date if necessary.

Bottom line.... I'm not buying it, lady!

I'm not saying you're wrong, because you're not.. but i am saying this is more or less how i would expect it to play out. The brokers know what Disney doesn't like, and they will not be willing to poke the bear.

 

[kniquy]

Just had an offer accepted for a Polynesian contract. We have an AK contract, but unfortunately after staying at Poly we fell in love with it. We certainly do like AK and are keeping that contract for points we can rent out and for those times when we need a few extra points. And the fact that our AK resale was purchased in 2015 so some perks come along with it. I'll come back to post when things have been submitted!

 

[Katie L]

My broker is trying to tell me that we can't do the 31 day thing because Disney has the right to take all the way up until the closing date to make their decision. Therefore, if they take all 30 days we will be screwed because we can't close in one day.

I said that's BS because even if we give them 60 days, they could take all 60 days to make their decision. Nearly every contract I've seen so far already has verbiage that allows the closing date to be extended if it needs to be.

Also, Disney's rules don't in fact give them up to the closing date. They give Disney up until the "proposed date of transfer." This is exactly why every contract already has provisions in it for extending the closing date if necessary.

Bottom line.... I'm not buying it, lady!

Keep us posted on where things land.

 

[MICKIMINI]

I finally heard back from my broker...closing date is TOMORROW though she admitted it is "impossible" for this to happen. I asked numerous times for a specific date! At this point she indicated buyer and/or seller can walk away. She is pushing it up the food chain at Disney, but still no answer - sigh. I thought we were at 51 days yesterday but it is actually 59 today as I was counting from the day we had confirmation from the closing company (as per the broker). Communication from this broker is the worst and the only reason we won't walk away is of course, the price. To be continued...

 

[mrsap]

I finally heard back from my broker...closing date is TOMORROW though she admitted it is "impossible" for this to happen. I asked numerous times for a specific date! At this point she indicated buyer and/or seller can walk away. She is pushing it up the food chain at Disney, but still no answer - sigh. I thought we were at 51 days yesterday but it is actually 59 today as I was counting from the day we had confirmation from the closing company (as per the broker). Communication from this broker is the worst and the only reason we won't walk away is of course, the price. To be continued...

Oooooo Mmmmmm Gggggg!!!

 

[RamblinWreck]

My broker is trying to tell me that we can't do the 31 day thing because Disney has the right to take all the way up until the closing date to make their decision. Therefore, if they take all 30 days we will be screwed because we can't close in one day.

I said that's BS because even if we give them 60 days, they could take all 60 days to make their decision. Nearly every contract I've seen so far already has verbiage that allows the closing date to be extended if it needs to be.

Also, Disney's rules don't in fact give them up to the closing date. They give Disney up until the "proposed date of transfer." This is exactly why every contract already has provisions in it for extending the closing date if necessary.

Bottom line.... I'm not buying it, lady!

Well, I pushed back and now they're going to do what I want.

They agree that Disney has been abusing the system lately and they are going to use my contract as a test to see how Disney reacts. They say they genuinely have no idea how Disney will take it.

They also specifically mentioned the Disboards, and asked me not to post this information here. They are trying to keep this to a very limited test and they don't want to be overrun with requests for a 30 day closing. I told her I'd pass that message along, but my quest for a 30 day contract was already very much public knowledge here so there wasn't much I could do.

 

[RamblinWreck]

I finally heard back from my broker...closing date is TOMORROW though she admitted it is "impossible" for this to happen. I asked numerous times for a specific date! At this point she indicated buyer and/or seller can walk away. She is pushing it up the food chain at Disney, but still no answer - sigh. I thought we were at 51 days yesterday but it is actually 59 today as I was counting from the day we had confirmation from the closing company (as per the broker). Communication from this broker is the worst and the only reason we won't walk away is of course, the price. To be continued...

LOL

You don't have to walk away. If Disney hasn't rendered a decision by tomorrow, it's DISNEY that has walked away and there's nothing they can do about it!

Is there no verbiage in the contract that extends the closing date if you don't have the documentation in hand yet? Nearly every contract I've seen thus far has that. What broker did you use?

 

[Katie L]

Well, I pushed back and now they're going to do what I want.

They agree that Disney has been abusing the system lately and they are going to use my contract as a test to see how Disney reacts. They say they genuinely have no idea how Disney will take it.

They also specifically mentioned the Disboards, and asked me not to post this information here. They are trying to keep this to a very limited test and they don't want to be overrun with requests for a 30 day closing. I told her I'd pass that message along, but my quest for a 30 day contract was already very much public knowledge here so there wasn't much I could do.

If we submit another offer, I've already decided to make it a stipulation as well. Good luck.

 

[Dan1]

I finally heard back from my broker...closing date is TOMORROW though she admitted it is "impossible" for this to happen. I asked numerous times for a specific date! At this point she indicated buyer and/or seller can walk away. She is pushing it up the food chain at Disney, but still no answer - sigh. I thought we were at 51 days yesterday but it is actually 59 today as I was counting from the day we had confirmation from the closing company (as per the broker). Communication from this broker is the worst and the only reason we won't walk away is of course, the price. To be continued...

OMG

And, whom might your broker be? Please feel to PM vs on here in case it gets deleted by board ops.

 

[RamblinWreck]

If we submit another offer, I've already decided to make it a stipulation as well. Good luck.

Nice!

I don't mind the idea of being a guinea pig on this. I like that I'm doing something that could be of value to all of you fine people going forward. Whether it ends well or ends poorly, we'll all have learned something!