ROFR Thread April to June 2022 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Ginamarie]

If Riviera removes the restrictions, do you think former owners who had to sell for cheap because of the restrictions can legally sue Disney?

Not a chance. There’s no cause of action.

 

[achinforsomebacon]

What happens if Disney decides to take back RIV contracts through ROFR? Since they are restricted points, what do they do with them? Start selling RIV restricted points separately, at a lower price from unrestricted points? Do they wave their magic wand and they become unrestricted again? Is there any legal issue with that?

Technically, until they resell the points, Disney would have to follow the restrictions. They should not be able to use the points to book other resorts or offer them as OTU points. Once they resell them, they would become unrestricted again. The restrictions and perks refer to purchasing directly from Disney, regardless of how Disney obtained the points.

ETA: please disregard this post. It's been proven to be incorrect in subsequent posts and I don't want to lead anyone astray.

 

[PolynesianPip]

If it was a UY that worked for me I'd be all over it, but June is about as bad as it gets.

Uh oh. Waiting on ROFR for my first contract— June. I hope I haven’t made a terrible mistake!?!?!?

 

[Chia1974]

I wouldn't get too attached to those standard "fireworks" views. I wouldn't be surprised if in a couple years they created some kind of theme park view and made some of those standards that new category or rebalanced rooms (and potentially move some of the preferred in the southeast wing that overlook nothing but CBR and s'il vous play into the standard category). I had a preferred view recently in the west wing of the resort that had views of the skyliner and Epcot/MK fireworks, and was shocked to see that that southeast wing (and the room views on touring plans) were also preferred.

It’s also possible that they do away views. Just like OKW or BCV and redistribute points chart.

 

[CaptainAmerica]

Uh oh. Waiting on ROFR for my first contract— June. I hope I haven’t made a terrible mistake!?!?!?

June is as bad as it gets... for me. If you travel in the summer or fall, June is ideal. I mainly travel in winter and spring.

 

[CarolynFH]

Uh oh. Waiting on ROFR for my first contract— June. I hope I haven’t made a terrible mistake!?!?!?

The issue of good UY vs. bad UY depends on the owner and when they expect to travel to their DVC resort. We visit WDW mostly in November through March, so our September UY is ideal for us. If we usually visited in the summertime, June would be much better than September.

Read the Understanding Use Year thread for more knowledge of this important issue in DVC ownership.

 

[DVCBeachBum]

It’s also possible that they do away views. Just like OKW or BCV and redistribute points chart.

Yes, totally agree it may not last. But, what does these days? I’ll have to go to 1 beds if that happens or add on

 

[Jimmy Geppetto]

JoeDisney247365---$105-$26997-230-AUL-Sep-0/21, 460/22, 230/23- sent 5/27, passed 6/22

Great grab! Well done

 

[Sandisw]

Technically, until they resell the points, Disney would have to follow the restrictions. They should not be able to use the points to book other resorts or offer them as OTU points. Once they resell them, they would become unrestricted again. The restrictions and perks refer to purchasing directly from Disney, regardless of how Disney obtained the points.

Not the way it works. When DVD takes back the points, they are simply back to the original status…contract is dissolved

DVD as a buyer is not considered a resale purchaser.

 

[pianomanzano]

It’s also possible that they do away views. Just like OKW or BCV and redistribute points chart.

I think that's possible, but highly unlikely--there's too many different views to take advantage of and price accordingly. Plus the rebalancing would make the standards go up in value since the ratio of preferred to standards is like 2:1 for RIV, unless they balanced it by making tower studios or grand villas higher, which would not be in anyone's interest.

 

[HIRyeDVC]

We knew going in that they could remove them. You agree to it when you buy as part of the contract. It is even an additional page that you sign that describes it so you can’t even claim you didn’t know,

So, absolutely not. Plus the contracts…all of them mention resale Value not being something one can or should count on.

ETA. And, no one forces an owner to sell low.

No, for all of the reasons @Sandisw said. But also, how would that work even in theory? There's no way of establishing what the resale value would have been had the restrictions not been in place.

I didn't think so either. It just sometimes feels like anyone could sue Disney for anything these days.

 

[HIRyeDVC]

And now that the global economy is tanking more deals can be had around end-of-year or the start of 2023.

Patience is your friend……

gaaah! I wish I had waited to buy my AUL sub.....

 

[HIRyeDVC]

Not a chance. There’s no cause of action.

all the more reasons to believe that the restrictions will NOT go away

 

[achinforsomebacon]

Not the way it works. When DVD takes back the points, they are simply back to the original status…contract is dissolved

DVD as a buyer is not considered a resale purchaser.

I disagree. I don't see how taking a contract through ROFR could be considered anything but a resale contract based on Disney's definition (i.e. not purchased directly from DVD). It might be semantics but they made the rules and can't just change them for their own gain.

 

[Splashboat]

Quick question to recent sellers. How long does a sold contract show in your DVC account? A contract we sold closed and we received the money last week. I am still seeing the vacation points in my account. We sold a couple of contracts years ago and I don't remember that happening.

 

[Brian Noble]

It just sometimes feels like anyone could sue Disney for anything these days.

Anyone can file, but your counsel can expect to be bench-slapped for most of them.

 

[Brian Noble]

I don't see how taking a contract through ROFR could be considered anything but a resale contract based on Disney's definition (i.e. not purchased directly from DVD).

IIRC, there is language in the POS that explicitly treats the Developer (and points it owns) separately from a Purchaser. This might be one of those areas.

 

[CaptainAmerica]

I disagree.

It's not a matter of opinion, it's a matter of fact, and you're wrong.

I don't see how taking a contract through ROFR could be considered anything but a resale contract based on Disney's definition (i.e. not purchased directly from DVD). It might be semantics but they made the rules and can't just change them for their own gain.

They don't take the contract. They take the points. The contract disappears. Then when they sell the points again, a new contract is created.

 

[Sandisw]

I disagree. I don't see how taking a contract through ROFR could be considered anything but a resale contract based on Disney's definition (i.e. not purchased directly from DVD). It might be semantics but they made the rules and can't just change them for their own gain.

Because the action of ROFR means DVD gets to basically take back the points and they become developer points again. It’s what allows them to sell them again as direct points.

They are not changing the rules because they set them up that way from the start that Resale contracts are those that transfer ownership between two parties and neither is DVD.

 

[Sandisw]

Quick question to recent sellers. How long does a sold contract show in your DVC account? A contract we sold closed and we received the money last week. I am still seeing the vacation points in my account. We sold a couple of contracts years ago and I don't remember that happening.

It disappears when they move it to new owner so it can take weeks.