ROFR Thread April to June 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[macman123]

Please don’t attack me for not having a moral compass, but has anyone who went through the ROFR process pre-pandemic but who has not yet completed had any thoughts about pulling out?

Its a business decision for you really. I am in the UK too. But the $ has gone back up to 1.25 now. If, financially its not right for you, then you could pull out.

If you think the prices will come down and will 'save' more than $4500 you could pull out.

But ultimately it yours and your decision alone. I brought direct RVA at $1.25 then cancelled within 10 days. The refund exchange was $1.13.

Now its back up again. But will it be back up at $1.70 - unlikely.

 

[Vkothari916]

I am at a month today waiting on ROFR on a BLT contract. $139 a point for 160 points. My agent has checked with DVC Admin this week and they are still reviewing.
So it would appear they are at least not pushing everything through quickly.

My BLT contract passed ROFR at $130/point (180 point contract with full 20-21 points and most of 19 points). So likely anything in that range will pass.

 

[Vkothari916]

Please don’t attack me for not having a moral compass, but has anyone who went through the ROFR process pre-pandemic but who has not yet completed had any thoughts about pulling out? I’m not suggesting we will do this, but I would be lying if I said I haven’t thought about it. We are already direct owners and successfully bid on contracts at PVB and AKV back in February. It’s been very slow to get to closing and we have recently requested a 30 day extension due to the plummeting value of the pound against the dollar and the fact I’m repaying guests who have rented out points with us (despite not having to under the terms of our contract). Our total deposits are $4500 and part of me thinks we should cut our losses and run and wait to see where the points value, and exchange rate, ends up in 6 months. I know this is highly morally questionable and may mean we can’t purchase through Fidelity again as they will likely still want their commission from us. Has anyone else thought about this? We are in a much tighter financial spot than I thought we would be and it now doesn’t seem sensible to spend megabucks on DVC points. Please be kind in any replies!

So I am not sure why you feel so apologetic about this. As long as you legally follow the terms of the contract you have done nothing wrong. Contracts can be cancelled with loss of deposit and any penalties. If you feel that’s a sunk cost you are willing to forgo then go ahead and do it. At the end of the day it is a real estate transaction and there is nothing wrong with having a change of heart and especially if you feel it is not financially feasible for you. Trust me if you get in financial trouble post-closing Fidelity or the seller will not come to your rescue.

 

[macman123]

My BLT contract passed ROFR at $130/point (180 point contract with full 20-21 points and most of 19 points). So likely anything in that range will pass.

Mine was $139 so should be ok then too

 

[Jetku]

Please don’t attack me for not having a moral compass, but has anyone who went through the ROFR process pre-pandemic but who has not yet completed had any thoughts about pulling out? I’m not suggesting we will do this, but I would be lying if I said I haven’t thought about it. We are already direct owners and successfully bid on contracts at PVB and AKV back in February. It’s been very slow to get to closing and we have recently requested a 30 day extension due to the plummeting value of the pound against the dollar and the fact I’m repaying guests who have rented out points with us (despite not having to under the terms of our contract). Our total deposits are $4500 and part of me thinks we should cut our losses and run and wait to see where the points value, and exchange rate, ends up in 6 months. I know this is highly morally questionable and may mean we can’t purchase through Fidelity again as they will likely still want their commission from us. Has anyone else thought about this? We are in a much tighter financial spot than I thought we would be and it now doesn’t seem sensible to spend megabucks on DVC points. Please be kind in any replies!

Agreed, I don’t think it’s amoral to pull out given the pandemic and plummeting prices, however I found find it amoral to string along the seller / delay and then pull out. That’s making it even harder for the seller. If I were a seller, I might personally reject the extension (but of course everyone has their own values and circumstances)

 

[pirate33]

Agreed, I don’t think it’s amoral to pull out given the pandemic and plummeting prices, however I found find it amoral to string along the seller / delay and then pull out. That’s making it even harder for the seller. If I were a seller, I might personally reject the extension (but of course everyone has their own values and circumstances)

I agree whether to perform the contract is a business decision, not a moral one. And on the point above, it’s a business decision for the seller, too—whether to extend. Another option for either side would be to propose an adjustment to price in lieu of breach.

 

[tputorti]

My BLT contract passed ROFR at $130/point (180 point contract with full 20-21 points and most of 19 points). So likely anything in that range will pass.

Thanks for the info. Honestly I’m not worried about passing. If it doesn’t so be it. I lost that was taken in ROFR back in February. I’ll just bid on another one. I was making the point that they are certainly not pushing everything quickly through.
It does stink to watch others clear so fast and just be waiting. Again take it if they want or pass it through. Either way I just want to be moving forward. Wait stinks, especially when it can seem somewhat arbitrary at times.
My contract is in no way a low ball contract that is out of line, especially given where the market has gone in the month since my contract was submitted to ROFR.

 

[RachStu]

I agree whether to perform the contract is a business decision, not a moral one. And on the point above, it’s a business decision for the seller, too—whether to extend. Another option for either side would be to propose an adjustment to price in lieu of breach.

I assume that would require the contract to go back through ROFR again?

 

[pirate33]

I assume that would require the contract to go back through ROFR again?

Good point, I think you are right. Still, it could be done if both parties agreed.

 

[Deswank]

Please don’t attack me for not having a moral compass, but has anyone who went through the ROFR process pre-pandemic but who has not yet completed had any thoughts about pulling out? I’m not suggesting we will do this, but I would be lying if I said I haven’t thought about it. We are already direct owners and successfully bid on contracts at PVB and AKV back in February. It’s been very slow to get to closing and we have recently requested a 30 day extension due to the plummeting value of the pound against the dollar and the fact I’m repaying guests who have rented out points with us (despite not having to under the terms of our contract). Our total deposits are $4500 and part of me thinks we should cut our losses and run and wait to see where the points value, and exchange rate, ends up in 6 months. I know this is highly morally questionable and may mean we can’t purchase through Fidelity again as they will likely still want their commission from us. Has anyone else thought about this? We are in a much tighter financial spot than I thought we would be and it now doesn’t seem sensible to spend megabucks on DVC points. Please be kind in any replies!

If you don’t feel it’s right you can always back out. I don’t see anything wrong with it, you haven’t completed yet. This virus has changed a lot of things for a lot of people. You would have to pay some fees I’m sure but it’s a business transaction. Don’t let the emotional part get to you. If it’s not going to work out, and you need to take care of the roof over your head I think that’s more important.

 

[Vkothari916]

Thanks for the info. Honestly I’m not worried about passing. If it doesn’t so be it. I lost that was taken in ROFR back in February. I’ll just bid on another one. I was making the point that they are certainly not pushing everything quickly through.
It does stink to watch others clear so fast and just be waiting. Again take it if they want or pass it through. Either way I just want to be moving forward. Wait stinks, especially when it can seem somewhat arbitrary at times.
My contract is in no way a low ball contract that is out of line, especially given where the market has gone in the month since my contract was submitted to ROFR.

It is a bit strange yours is taking this long. It is in no way an unusually low offer. I am certain it will pass but it could be a technical issue that is causing the delay. I am assuming your agent is in touch with DVC?

 

[tputorti]

It is a bit strange yours is taking this long. It is in no way an unusually low offer. I am certain it will pass but it could be a technical issue that is causing the delay. I am assuming your agent is in touch with DVC?

The agent has talked to DVC, but has provided no insight as to some issue or specific concern.

 

[stfxkid]

stfxkid---$130-$20800-160-PVB-Aug-0/18, 0/19, 0/20, 0/21-'21 seller pays MF '20 & '21, Seller Pays Closing, Can Close 12/01- sent 5/2

 

[DVC Flip]

The agent has talked to DVC, but has provided no insight as to some issue or specific concern.

You may want to give the contracts you've signed a once over, mine was delayed by a few days due to a mis-typed deed number that needed to be sorted out. In fact, there were a couple of errors that happened due to the title company that held things up.

 

[stfxkid]

stfxkid---$130-$20800-160-PVB-Aug-0/18, 0/19, 0/20, 0/21-'21 seller pays MF '20 & '21, Seller Pays Closing, Can Close 12/01- sent 5/2

With the seller paying close it works out to being approximately $126 a point

 

[Heathernoel]

heathernoel---$117-$14611-120-AKV-Sep-0/19, 146/20, 126/21-seller pays MF '20- sent 4/27

 

[Heathernoel]

Sorry, tried to delete my message - new to the forum, so learning my way around..

 

[Heathernoel]

heathernoel---$117-$14611-120-AKV-Sep-0/19, 146/20, 126/21-seller pays MF '20- sent 4/27

I know the price per point is high for the current market, but I wanted 120 points (the typical 100 is too low, and 160 is too high), but we got them to pay the MF, which would roughly bring it to 109 per point. It is a Canadian seller too. This is my first DVC purchase after lurking and thinking about it for 6 months. Keep your fingers crossed for me!

 

[ljlaurajane]

I know the price per point is high for the current market, but I wanted 120 points (the typical 100 is too low, and 160 is too high), but we got them to pay the MF, which would roughly bring it to 109 per point. It is a Canadian seller too. This is my first DVC purchase after lurking and thinking about it for 6 months. Keep your fingers crossed for me!

im impressed you got the seller to pay MF especially when it had banked points too! Well done and good luck

 

[Paul Stupin]

I just purchased a few CCV contracts. Two went through ROFR in just a little over a week. The third was sent back in the same time frame because of a mistake in the paperwork regarding a slightly extended closing. A correction was made almost immediately, but in the meantime, the employee furlough began. The waiver still came through about a week later.

Was glad to hear that Disney, as far as anyone knew, wasn’t buying back any CCV contracts. Am certainly not complaining, but does anyone know why?