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

[E2ME2]

laurenrebbecca---$117-$19883-160-AKV-Dec-0/19, 0/20, 0/21, 160/22- sent 4/12, taken 5/6

NFW !
That's a bit of a jolt

 

[HIRyeDVC]

protecting the brand is one way to put it I guess. Also, they need to have resorts to offer other than Riviera...

I think Disney buying back protects its brand AND current owners. ROFR keeps the resale market healthy by helping our contracts to maintain its value. And you have the option to buy direct for all the properties except for maybe the Grand Cal. Disney always pushes and promotes its latest properties that haven’t technically sold out.

 

[HIRyeDVC]

I had 2 BLT contracts bought back very quickly within two weeks of being submitted to ROFR so if you hear back quickly I don’t think it’s ever good news.

Sorry to hear that. At what price point did Disney buy them back if you don’t mind me asking?

 

[princesscinderella]

Sorry to hear that. At what price point did Disney buy them back if you don’t mind me asking?

They are all listed in the Jan - March ROFR thread I actually had 4 bought back $138pp -$150pp. I just passed on my 5th try and got the closing documents yesterday and the title company confirmed they got my money today so I just have to wait for the sellers to get their docs back.

 

[Rebs007]

laurenrebbecca---$117-$19883-160-AKV-Dec-0/19, 0/20, 0/21, 160/22- sent 4/12, taken 5/6

So sorry it got taken.

 

[HIRyeDVC]

They are all listed in the Jan - March ROFR thread I actually had 4 bought back $138pp -$150pp. I just passed on my 5th try and got the closing documents yesterday and the title company confirmed they got my money today so I just have to wait for the sellers to get their docs back.

I guess it all works out in the end. BLT at that price range seems like a steal now! Congratulations on your new contract. The waiting process is so hard. Can’t wait to actually see my new accounts so we could start using them to book vacations!

 

[princesscinderella]

I guess it all works out in the end. BLT at that price range seems like a steal now! Congratulations on your new contract. The waiting process is so hard. Can’t wait to actually see my new accounts so we could start using them to book vacations!

I already have a lot of points so I can afford to be patient in the resale waiting game, but for a new owner getting points for the first time it’s definitely a hurry up and wait process.

 

[HIRyeDVC]

I already have a lot of points so I can afford to be patient in the resale waiting game, but for a new owner getting points for the first time it’s definitely a hurry up and wait process.

So what is a reasonable timeframe from ROFR passing notice to actually being able to use the points? I have an upcoming trip for early August and would love to use these extra points to upgrade my room, if the rooms will still be available. Mine just passed ROFR today. Thoughts?

 

[Rebs007]

Still waiting on our AKV submitted to ROFR on 3/9. Not optimistic as the $108 pp seems very low now, though it is a loaded contract so maybe a sliver of hope. Broker did reach out to Disney as it has been so long, they responded it would only be a few days more. That was a week ago.

 

[Crash8ART]

Still waiting on our AKV submitted to ROFR on 9/3. Not optimistic as the $108 pp seems very low now, though it is a loaded contract so maybe a sliver of hope. Broker did reach out to Disney as it has been so long, they responded it would only be a few days more. That was a week ago.

9/3 or 4/3?

 

[pkrieger2287]

https://twitter.com/x/status/1390756746138902530

 

[Paul Stupin]

It's deemed waived if closing date comes and Disney has not responded (I didn't say at the 30 day mark). Whether or not companies choose to close is another thing.

I don’t believe any title company would close, and I can’t believe any buyer would actually want close if the contract hadn’t officially passed ROFR. That said, I wonder if there’s ever been an instance where a title company did actually close, and take the buyer’s money without hearing from Disney. Would Disney even load the points? Has there ever been a case where they did? If it were a first time buyer, has there ever been a case where Disney issued a new DVC membership number on a contract that hadn’t yet passed?

The more I think about it, the more I believe that it would be a big mistake to actually pay for a contract whose validity hadn’t yet been recognized by Disney. I guess you could initiate some sort of legal action if they wouldn’t load the points, but good luck with that. Makes sense that no title company would allow this situation to happen. And they depend upon Disney for their livelihood, why risk getting on Disney’s bad side?

 

[macman123]

macman123---$142-$31,990-220-PVB-Aug-0/20, 0/21, 220/22- sent 4/7, passed 5/8

 

[jbreen2010]

The rule is that you have to give Disney at least 30 days to respond before you can close however they can take right up until closing if they wish. If closing date comes and they haven't responded then it is deemed to be waived though brokers and title companies don't seem to want to move forward without the waiver.

It’s terribly frustrating waiting for ROFR. When we were waiting we were under the impression the 30 days was a general guideline. We actually got to the stated closing day (60 days) from when we submitted and I went a bit wild with a few emails. The brokers and title companies don’t want to annoy the ROFR group, but there should be some respect to sellers trying to sell as well. If the waiting on ROFR does get to the closing date and they still haven’t waived, that date coming without notification of them taking ROFR was as good as a pass.

that day that was supposed to be closing day (60 days out), I sent some emails in the morning and title company received official ROFR waiver and Estoppel to close on that day!

the wait is the worst - hoping lots of passes in the future for all!

 

[HIRyeDVC]

I don’t believe any title company would close, and I can’t believe any buyer would actually want close if the contract hadn’t officially passed ROFR. That said, I wonder if there’s ever been an instance where a title company did actually close, and take the buyer’s money without hearing from Disney. Would Disney even load the points? Has there ever been a case where they did? If it were a first time buyer, has there ever been a case where Disney issued a new DVC membership number on a contract that hadn’t yet passed?

The more I think about it, the more I believe that it would be a big mistake to actually pay for a contract whose validity hadn’t yet been recognized by Disney. I guess you could initiate some sort of legal action if they wouldn’t load the points, but good luck with that. Makes sense that no title company would allow this situation to happen. And they depend upon Disney for their livelihood, why risk getting on Disney’s bad side?

These are really good questions that would obviously be only known by those at Disney or resale industry. If something like this ever did happen, I still believe that the legal verbiage on our original direct contract would be on our side. It’s probably the case that these cases are very rare if not non-existent and Disney probably ALWAYS makes a decision eventually. Nice food for thought though.

 

[Sharene0724]

sharene0724---$100-$15630-150-OKW-Apr-0/20, 0/21, 150/22, 150/23- sent 4/13, taken 4/24

 

[Headless Horseman]

macman123---$142-$31,990-220-PVB-Aug-0/20, 0/21, 220/22- sent 4/7, passed 5/8

Glad to see this as my contract is very similar (in fact, this looks like one I tried to buy first)! As long as they're not looking for April use year (mine) or randomly pulling contracts from a hat... I'm keeping my fingers crossed.

 

[HIRyeDVC]

It’s terribly frustrating waiting for ROFR. When we were waiting we were under the impression the 30 days was a general guideline. We actually got to the stated closing day (60 days) from when we submitted and I went a bit wild with a few emails. The brokers and title companies don’t want to annoy the ROFR group, but there should be some respect to sellers trying to sell as well. If the waiting on ROFR does get to the closing date and they still haven’t waived, that date coming without notification of them taking ROFR was as good as a pass.

that day that was supposed to be closing day (60 days out), I sent some emails in the morning and title company received official ROFR waiver and Estoppel to close on that day!

the wait is the worst - hoping lots of passes in the future for all!

I agree with all your sentiments. I just try my best to accept that this is the price we all pay in order to save money buying resale instead of direct. I still think it’s much better than buying/selling traditional time shares.

 

[Headless Horseman]

Still waiting on our AKV submitted to ROFR on 9/3. Not optimistic as the $108 pp seems very low now, though it is a loaded contract so maybe a sliver of hope. Broker did reach out to Disney as it has been so long, they responded it would only be a few days more. That was a week ago.

Would be curious your reasoning as to why they would be LESS likely to buy back a loaded contract? Seems like it should be the opposite, but I'm new at this.

 

[JETSDAD]

I don’t believe any title company would close, and I can’t believe any buyer would actually want close if the contract hadn’t officially passed ROFR. That said, I wonder if there’s ever been an instance where a title company did actually close, and take the buyer’s money without hearing from Disney. Would Disney even load the points? Has there ever been a case where they did? If it were a first time buyer, has there ever been a case where Disney issued a new DVC membership number on a contract that hadn’t yet passed?

The more I think about it, the more I believe that it would be a big mistake to actually pay for a contract whose validity hadn’t yet been recognized by Disney. I guess you could initiate some sort of legal action if they wouldn’t load the points, but good luck with that. Makes sense that no title company would allow this situation to happen. And they depend upon Disney for their livelihood, why risk getting on Disney’s bad side?

The thing is that the POS specifically states what happens. There's nothing for Disney to validate. There has to be a time limit on a right of first refusal or they could hold up closing forever without recourse....Disney could just not reply to anyone and the entire resale market would come to a halt.