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

[hobbes42]

since the transaction is with a “sister”, I think you can just cancel the contract and say the buyer just forfeited the deposit without actually receiving any payment?

Seems like this would work:
If you have a predetermined buyer, as a seller you should avoid the broker and pick your favorite title company. Write the contract to allow the buyer to back out without losing the deposit until after the ROFR decision is made. That might cost you a minimal fee owed to the title company for their work if the buyer backs out, but it keeps your "sister" from being stuck with the unwanted contract.

 

[Mexacajun]

Seems like this would work:
If you have a predetermined buyer, as a seller you should avoid the broker and pick your favorite title company. Write the contract to allow the buyer to back out with losing the deposit until after the ROFR decision is made. That might cost you a minimal fee owed to the title company for their work if the buyer backs out, but it keeps your "sister" from being stuck with the unwanted contract.

This all seems super shady and potentially illegal.

The alternative is to just be patient. I will stick to being on the up and up.

 

[justinmramirez]

Here we go..... first time waiting on ROFR...it already feels difficult to be patient

justinmramirez---$165-$35262-200-BLT-Feb-0/21, 400/22, 200/23, 200/24- sent 5/30

 

[Stargazer65]

This all seems super shady and potentially illegal.

The alternative is to just be patient. I will stick to being on the up and up.

Yeah, I tend to agree. Someone should not be signing a contract in which they have no intention of fulfilling the obligations.

 

[Cyberc1978]

So much for the small contract pass theory Get back out there and bid again they can’t take them all

Thanks, but for now I'm gonna wait. Even though that I'm sad it got taken a part of me is also glad as I'm unsure how much of a dive the economy will take. At least that's what I'm telling myself

Its not as I was in NEED of the points as I just added on direct the other month but this particular contract was just too hard to pass.

I'm still wondering what DVC got in store for us as they have taken A LOT of contracts lately and I don't believe its because they will have a sale anytime soon.

 

[larry47591]

I'm still wondering what DVC got in store for us as they have taken A LOT of contracts lately and I don't believe its because they will have a sale anytime soon.

The only plan is to make it more frustrating for the buyer and seller. I sold 2 that were taken back by Disney. One the closed date is supposed to be today and I have heard nothing. The other is in 10 days.

They want resale to feel like a worse alternative. Doesn’t matter if you are the buyer or the seller

 

[TotallyMinnie83]

TotallyMinnie83---$105-$11429-100-AUL-Mar-0/21, 0/22, 100/23, 100/24- sent 5/2, passed 5/30

 

[Sandisw]

What happens if a buyer chooses not to close after passing ROFR? They lose the deposit money? Just curious...

After 10 days, the buyer forfeits the deposit if they want out after that.

Now, if it’s a private sale, they can put in terms that the buyer can cancel and get deposit back, assuming that is what the legal contract says. But if it’s bought back by DIsney via ROFR, they’d retain that same right and could back out as well.

 

[Sandisw]

Thanks, but for now I'm gonna wait. Even though that I'm sad it got taken a part of me is also glad as I'm unsure how much of a dive the economy will take. At least that's what I'm telling myself

Its not as I was in NEED of the points as I just added on direct the other month but this particular contract was just too hard to pass.

I'm still wondering what DVC got in store for us as they have taken A LOT of contracts lately and I don't believe its because they will have a sale anytime soon.

I still wonder if it’s to replace points they have used the past few years or give them more to sell for cash, which they can do until sold. It’s seems like a lot but in the scheme of things would it be? I mean cash cost for those larger units with Disney is a good chunk of change so maybe they just want to do that?

Plus OTU points are pretty popular so they have a market there as well.

 

[GBC1]

GBC1---$157.5-$32345-200-BCV-Sep-0/20, 0/21, 306/22, 200/23-seller pays MF 22- sent 4/5, passed 5/4

Timeline Update:
4/5: Sent to RoFR
5/4: Passed
5/10: Closing Docs Received with request to submit within 2 weeks
5/10: Submitted closing docs and funds
5/24: Notified that closing docs were complete and submitted to county
5/26: Notified that closing was final and that Disney will provide my account # via snail mail
5/31: Waiting ...

 

[Cyberc1978]

The only plan is to make it more frustrating for the buyer and seller. I sold 2 that were taken back by Disney. One the closed date is supposed to be today and I have heard nothing. The other is in 10 days.

They want resale to feel like a worse alternative. Doesn’t matter if you are the buyer or the seller

That is only part of it, because if that was the only reason then DVC had to eventually buy up everything and that's not gonna happen. There must be a purpose with all the points that they currently consume, I'm looking forward to finding out.

 

[Mexacajun]

That is only part of it, because if that was the only reason then DVC had to eventually buy up everything and that's not gonna happen. There must be a purpose with all the points that they currently consume, I'm looking forward to finding out.

The buying up or SSR and AKV makes me wonder if we will have an announcement of the sky liner expansion to those 2 resorts. It would significantly increase the price of those two resorts.

 

[larry47591]

That is only part of it, because if that was the only reason then DVC had to eventually buy up everything and that's not gonna happen. There must be a purpose with all the points that they currently consume, I'm looking forward to finding out.

Don’t forget demand for Disney vacations is at a high. They can use those points and rent rooms. Make a killing doing it right now

 

[Cyberc1978]

I still wonder if it’s to replace points they have used the past few years or give them more to sell for cash, which they can do until sold. It’s seems like a lot but in the scheme of things would it be? I mean cash cost for those larger units with Disney is a good chunk of change so maybe they just want to do that?

Plus OTU points are pretty popular so they have a market there as well.

Lets for argument say that they are buying the points to eventually sell but UNTIL they do why not rent them as cash stays? As you said the other day, DVC don't pay dues on the points the own and therefore all the points they have is sort of a cash cow and without any expenses attached to them except for the purchase price.

So if you and I rent for ie $20 pp approx $7 is our dues and we get to pocket $13pp Disney can pocket all $20 or in their case all $35-$40pp.

The rental market is very strong right now why not become a bigger part of that? If they don't rent all of their points, then Disney could pixie dust themselves and extend their points for next year. If Disney can extend our points for another year or xx months even if the points should have expired, then of course they can do it for themselves too. Seen from a Disney perspective what's not to like?

 

[Cyberc1978]

Don’t forget demand for Disney vacations is at a high. They can use those points and rent rooms. Make a killing doing it right now

Exactly I think that is part of the equation, and since Disney don't pay dues on the points they own, they can pocket that money.

 

[larry47591]

Exactly I think that is part of the equation, and since Disney don't pay dues on the points they own, they can pocket that money.

They do have to cover shortfalls on the dues but they would still be making a ton of money

 

[Cyberc1978]

They do have to cover shortfalls on the dues but they would still be making a ton of money

Do we have any idea how often that happens?

 

[larry47591]

Do we have any idea how often that happens?

No idea. I don’t even think we know how much of a said resort Disney owns at any one time

 

[Sandisw]

Do we have any idea how often that happens?

We don't but consider they give the guarantee every year? I venture to guess they make out pretty well.

 

[CaitMcH]

CaitMcH---$173-$27787-150-PVB-Dec-30/21, 300/22, 150/23- sent 4/22, passed 5/31


Yay, finally!! So excited for our first contract!