ROFR Thread April to June 2021 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[KAT4DISNEY]

Hmm, interesting. I didn’t know that Disney sends contracts back to the broker if there is an existing reservation. My broker told me that Disney just cancels any existing reservations during the closing process, after ROFR.

No although that's often stated. They won't transfer with an exiting reservation but it wouldn't be normal for them to just cancel. Kind of a big no-no for them to do.

 

[HIRyeDVC]

No although that's often stated. They won't transfer with an exiting reservation but it wouldn't be normal for them to just cancel. Kind of a big no-no for them to do.

Makes sense. Though, I’m still not understanding why Disney would send it back if there is an existing reservation. If so, it seems like there should be a policy that no contracts should be sent for ROFR if there is an existing reservation.

 

[Sandisw]

Hmm, interesting. I didn’t know that Disney sends contracts back to the broker if there is an existing reservation. My broker told me that Disney just cancels any existing reservations during the closing process, after ROFR.

Disney could not cancel the reservation during that process because a seller could simply change their mind and decide not to sell.

Once the contract closes, then it would be.

 

[KAT4DISNEY]

Makes sense. Though, I’m still not understanding why Disney would send it back if there is an existing reservation. If so, it seems like there should be a policy that no contracts should be sent for ROFR if there is an existing reservation.

If the seller doesn't disclose it then DVC is the only other one who could see and notify about it and so "sends it back" and leaves it up to the broker to figure out. I got caught with this once in a way. I listed a contract for sale and per the agreement also listed I had a reservation that I was willing to cancel if the contract sold. At the time I was under the impression from here that DVC would cancel reservations plus we were still in the 10 day time to rescind and I'd had that occur with a different contract. Anyway I got a nasty phone call from my agent about how DVC had got back to them that there was a reservation. Yeah - that's what I wrote on the contract! He never even noticed that info. Anyway, I cancelled and then everyone was happy except me with that agent.

 

[Sandisw]

Makes sense. Though, I’m still not understanding why Disney would send it back if there is an existing reservation. If so, it seems like there should be a policy that no contracts should be sent for ROFR if there is an existing reservation.

Because if they know it’s there, they won’t act on it because it changes what actual points are there. They would be deciding ROFR on a contract that was not accurate.

 

[KAT4DISNEY]

Because if they know it’s there, they won’t act on it because it changes what actual points are there. They would be deciding ROFR on a contract that was not accurate.

Yes. If the contract had a delayed closing because of it then it would be fine but everything needs to match up for ROFR - points available, reservations and delayed closings. And nobody wants DVC trying to become mind readers and guess what is actually correct and what isn't if it doesn't match. So they do the right thing and send it back for correction.

 

[HIRyeDVC]

Yes. If the contract had a delayed closing because of it then it would be fine but everything needs to match up for ROFR - points available, reservations and delayed closings. And nobody wants DVC trying to become mind readers and guess what is actually correct and what isn't if it doesn't match. So they do the right thing and send it back for correction.

Because if they know it’s there, they won’t act on it because it changes what actual points are there. They would be deciding ROFR on a contract that was not accurate.

Wow, this was all very super helpful and informative. Thank you for the 411!

 

[Paul Stupin]

No although that's often stated. They won't transfer with an exiting reservation but it wouldn't be normal for them to just cancel. Kind of a big no-no for them to do.

Interesting.

 

[Bina Mischka]

2nd stripped contract was also taken, so now have a loaded one in ROFR atm. Hopefully hear in a week or so

My Fingers are crossed for you!

 

[rawisericho]

And nothing left to buy .... trying to find a contract now is like trying to scrape the last bit of peanut butter out of the jar

Well there are some but they’re priced so ridiculously high and don’t seem to be interested in decent negotiation that.....yeah there’s pretty much nothing to buy.

 

[Bearval]

Legally it’s a nightmare. Financially it’s a nightmare. They didn’t realize how bad of a nightmare until they tried this with OKW. Now they’re stuck with a hybrid of a resort with two different expiration dates. The 2042-2057 period at OKW is going to be an interesting one to say the least.
An extension of 15 or 20 years doesn’t help them that much either. It postpones the inevitable.
Unfortunately, the off property resorts (HHI/VB) will likely be sold off. That’s instant capital and they won’t need to spend money on renovations there. OKW won’t see a major overhaul until after 2042 because of the extension.
So you’re looking at BRV, BWV, BCV.. all prime locations and not the massive resorts you have at SSR or Kidani. They’re going to want to restructure the charts and convert these properties to DVC2 (Riviera and future resorts) or maybe even DVC3 at that point as they’ll have moved onto another whole phase. Yes, it will cost renovation money, but no more than it would starting from scratch, and they will sell at far higher prices.

I agree that HH and VB will be sold off when they expire DVC had already sold off the land next to VB years ago that was supposed to be used to expand that property. If they were going to offer any more extentions they would still be selling them for OKW right now toclean up that mess. Most likely what will happen is that they will do a complete renovation of one property at a time while renting the others for cash until it is their turn to be renovated. And you better believe the point charts will be higher. Blue card perk will be you can still stay at one of the resorts before it is renovated.

 

[Lorilais_mommie]

Lorilais_mommie---$144-$38623-250-CCV@WL-Oct-0/19, 141/20, 250/21, 250/22-11/20delay closing- sent 4/30

2020 points to be bank into 2021

Going to need a little pixie dust for this one

 

[Lee Matthews]

Makes sense. Though, I’m still not understanding why Disney would send it back if there is an existing reservation. If so, it seems like there should be a policy that no contracts should be sent for ROFR if there is an existing reservation.

My AKV contract which is in ROFR had a delayed closing by of July 1st but I can only assume Disney noticed that there was an existing reservation in place because I was then contacted by the broker who asked us all to sign an amendment and agree for closing to be delayed by a few days.

I assume it’s for the closing to be clear of the vacation ending. I can also only assume Disney noticed it and notified the broker. Haven’t been told either way

 

[princesscinderella]

Lorilais_mommie---$144-$38623-250-CCV@WL-Oct-0/19, 141/20, 250/21, 250/22-11/20delay closing- sent 4/30

2020 points to be bank into 2021

Going to need a little pixie dust for this one

A great price!! Hopefully the delayed closing helps you pass ROFR.

 

[Paul Stupin]

A great price!! Hopefully the delayed closing helps you pass ROFR.

Does anyone know if a delayed closing helps? I had a 150 CCV that passed last month for $133 with a delayed October closing, but that was before they started taking Copper Creek.

 

[Max Jolicoeur]

A great price!! Hopefully the delayed closing helps you pass ROFR.

Both of my contracts that just passed ROFR within the last month (25 pts @ OKW and 150 pts @ BRV) had a delayed closing and passed! My agent said that sometimes helps pass ROFR.

 

[Ginamarie]

Does anyone know if a delayed closing helps? I had a 150 CCV that passed last month for $133 with a delayed October closing, but that was before they started taking Copper Creek.

I’m 0/1 on delayed closings... I’m not sure it matters.

 

[pangyal]

And we are updated!

 

[starfrenzy]

And we are updated!

Thank you for your service!

 

[princesscinderella]

Princesscinderella---$115-$20202-160-SSR-Feb-0/20, 320/21, 160/22- sent 5/1

This is it for my buying spree of DVC points. We love the treehouses and our 125 points at SSR just isn’t enough anymore. I was really impressed with how quickly this went from offer, acceptance, contract, all parties signed and off to ROFR in 4 hours . Kudos to www.DVCsales.com they have a great system worked out. We’ve been through a lot of brokers over our BLT purchase saga and it has never been this quick or easy.