ROFR Thread April to June 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Lorana]

So, are there incentives for VDH?

Yes. $4 off per point for 125 points, $20 off per point for 150-174, $21pp for 175-199, $22pp for 200-249.

 

[Best Aunt]

Just to clarify, estoppel does not give the title company information about points. It only includes the financial information...dues and accurate balance left on any financing.

It is a points activity statement that will give them that information. DVD used to send those, but my understanding is that they no longer do, so brokers ask the owner to send a copy of it direct from their DVC account....

As a recent seller, I can tell you that:

a) I had to log into my DVC account and send a Points Activity Statement to the broker when I returned the Listing Agreement.

b) After passing ROFR, the broker asked me for a new Points Activity Statement (passed ROFR on a Thursday, got this request the following Monday).

c) On Thursday (so one week after passing ROFR), I got my closing paperwork from the title company.
The title company's instructions said to send a Points Activity Statement.
I had sent one to the broker a few days earlier, but I didn't want to do anything which might slow things down, so I went into my DVC account and printed off a new Points Activity Statement to send to the title company with the deed and other documents.

 

[varns529]

Have you asked for an update? That seems unusually long to wait after ROFR…

I have not, probably should, but they did say expect the documents within 30 business days. Probably their standard email, but have heard they are running slow.

 

[pianomanzano]

+1 for Marcelo. Received closing docs in 3 days. Sellers returned their docs before we did and Marcelo processed closing the day after we returned our docs and paid the remainder.

 

[winnieforme]

Yes. $4 off per point for 125 points, $20 off per point for 150-174, $21pp for 175-199, $22pp for 200-249.

thank you for the information!

 

[HyperspaceMountainPilot]

Looking back at this thread, it appears there was a significant fall off in ROFR speed compared to the contracts submitted in March (I think we’re looking at nearly 4 weeks for many recent folks who have heard back?) and also very few people getting approvals at all last week- it’s possibly this board is not a representative sample, but I continue to suspect that Disney is deliberately going to stretch out the ROFR process as another lever to drive direct sales…I can be patient for a big discount but honestly wouldn’t wait 3+ months to save less than $20/pt (after buying back 22 pts), which I think is about how this will work out for me at VGF.

Still, VGF is an outlier (with recent incentives and relatively high resale value) and I don’t think they will be able to get most of the other properties close without a combination of ROFR and aggressive promotions.

Edited to add: perhaps the alternate theory is that the person who waives ROFR also has direct sale job responsibilities (or has to deal with Reedy Creek drama), and is just very busy with VDH (or RDS).

 

[Traveling on cc points]

Looking back at this thread, it appears there was a significant fall off in ROFR speed compared to the contracts submitted in March (I think we’re looking at nearly 4 weeks for many recent folks who have heard back?) and also very few people getting approvals at all last week- it’s possibly this board is not a representative sample, but I continue to suspect that Disney is deliberately going to stretch out the ROFR process as another lever to drive direct sales…I can be patient for a big discount but honestly wouldn’t wait 3+ months to save less than $20/pt (after buying back 22 pts), which I think is about how this will work out for me at VGF.

Still, VGF is an outlier (with recent incentives and relatively high resale value) and I don’t think they will be able to get most of the other properties close without a combination of ROFR and aggressive promotions.

Edited to add: perhaps the alternate theory is that the person who waives ROFR also has direct sale job responsibilities (or has to deal with Reedy Creek drama), and is just very busy with VDH (or RDS).

I can see your point but you are not comparing apples to apples when it comes to the currant incentives vs the contract you are waiting on.

For your currant contract for 125 points, you wouldn’t qualify for the buyback promo or incentives.
If you are/were willing to purchase 200 GFV points then you have a better point. If you only want the 125 points, you would be paying $217 a point. You are “saving” $67 per point + getting 76 2022 points for free.

 

[HyperspaceMountainPilot]

I can see your point but you are not comparing apples to apples when it comes to the currant incentives vs the contract you are waiting on.

For your currant contract for 125 points, you wouldn’t qualify for the buyback promo or incentives.
If you are/were willing to purchase 200 GFV points then you have a better point. If you only want the 125 points, you would be paying $217 a point. You are “saving” $67 per point + getting 76 2022 points for free.

I believe there are incentives for existing members starting at 100 points but I haven’t confirmed because, I would have gone up to 150/200 points to get the bigger incentive, combined with the 2022 point buyback, along with conservatively approximately $5 per point in credit card rewards. Yes, I got a good deal on my GFV contract and would still be at least $20/pt ahead even with all of the above —but then I would have had direct points with the same use year as my Aulani membership and could have immediately booked my NYE stay before 7m window. For some people $20-30/pt difference is still going to be worth it, but if Disney is going to have aggressive promotions, it would be foolish to take a lot of the seller prices I’m seeing on the board sponsor’s site— I saw some stripped contracts listed today at GFV that would probably be more expensive per point than GFV direct with current incentives.

Of course the big unknown is whether or not Disney will need to keep offering big incentives or flash sales, which resorts, how many points you need to buy, etc. Incentives seem limited to large contracts and I would imagine it’s why the smaller contracts seem to be holding value much better.

 

[Traveling on cc points]

I believe there are incentives for existing members starting at 100 points but I haven’t confirmed because, I would have gone up to 150/200 points to get the bigger incentive, combined with the 2022 point buyback, along with conservatively approximately $5 per point in credit card rewards. Yes, I got a good deal on my GFV contract and would still be at least $20/pt ahead even with all of the above —but then I would have had direct points with the same use year as my Aulani membership and could have immediately booked my NYE stay before 7m window. For some people $20-30/pt difference is still going to be worth it, but if Disney is going to have aggressive promotions, it would be foolish to take a lot of the seller prices I’m seeing on the board sponsor’s site— I saw some stripped contracts listed today at GFV that would probably be more expensive per point than GFV direct with current incentives.

Of course the big unknown is whether or not Disney will need to keep offering big incentives or flash sales, which resorts, how many points you need to buy, etc. Incentives seem limited to large contracts and I would imagine it’s why the smaller contracts seem to be holding value much better.

You are correct. I didn’t realize that you are a currant member. If you purchased direct, it would have cost you $209 a point @ 125 points or down to $197 is you bought the 200.
I really was trying to make you feel better about waiting and getting a great price on the resale market.

I was really tempted by the animal kingdom incentives a few weeks ago but decided i was better off waiting and getting a much better price. Hope we all hear good news about our contracts soon!

 

[Epcot Forever Forever]

Looking back at this thread, it appears there was a significant fall off in ROFR speed compared to the contracts submitted in March (I think we’re looking at nearly 4 weeks for many recent folks who have heard back?) and also very few people getting approvals at all last week- it’s possibly this board is not a representative sample, but I continue to suspect that Disney is deliberately going to stretch out the ROFR process as another lever to drive direct sales…I can be patient for a big discount but honestly wouldn’t wait 3+ months to save less than $20/pt (after buying back 22 pts), which I think is about how this will work out for me at VGF.

Still, VGF is an outlier (with recent incentives and relatively high resale value) and I don’t think they will be able to get most of the other properties close without a combination of ROFR and aggressive promotions.

Edited to add: perhaps the alternate theory is that the person who waives ROFR also has direct sale job responsibilities (or has to deal with Reedy Creek drama), and is just very busy with VDH (or RDS).

I just think it’s way more likely that someone or several someones went on vacation for Easter while simultaneously the number of contracts submitted for resale went up a lot, which appears to be true.

Or some other innocent explanation.

 

[HyperspaceMountainPilot]

You are correct. I didn’t realize that you are a currant member. If you purchased direct, it would have cost you $209 a point @ 125 points or down to $197 is you bought the 200.
I really was trying to make you feel better about waiting and getting a great price on the resale market.

I was really tempted by the animal kingdom incentives a few weeks ago but decided i was better off waiting and getting a much better price. Hope we all hear good news about our contracts soon!

Thanks, I appreciate it. I don’t have much regret— but I do think it’s about as tight as direct v resale points are likely to get. Which is part of why I think all of the broker hype about the market going back up is extremely unlikely, except for VGC, of course.

If I regret it, it won’t be for another couple decades or so when the new crescent lake properties are direct points only.

 

[HyperspaceMountainPilot]

I just think it’s way more likely that someone or several someones went on vacation for Easter while simultaneously the number of contracts submitted for resale went up a lot, which appears to be true.

Or some other innocent explanation.

Another semi-innocent explanation would be that Disney was motivated to move the process faster when they believed folks might be selling their older contracts to free up money to buy VDH.

 

[Ashlotte]

Another semi-innocent explanation would be that Disney was motivated to move the process faster when they believed folks might be selling their older contracts to free up money to buy VDH.

I don't think they care if people have money or not to buy VDH, as long as they buy it. In fact they probably prefer that they don't, so they can get them to finance instead of paying cash.

 

[HyperspaceMountainPilot]

I don't think they care if people have money or not to buy VDH, as long as they buy it. In fact they probably prefer that they don't, so they can get them to finance instead of paying cash.

I’m thinking about the non-trivial number of people who need to sell their existing points (which costs Disney nothing, so long as they don’t exercise ROFR) to be able to afford (objectively or subjectively) to buy VDH— which makes Disney a lot of money. I would assume that’s less than 10% of the sales we see on the resale market—but it could still make a big difference to Disney’s 2Q financials and stock price if VDH sells much better (or worse!) than expectations.

 

[Electron_si]

Well for those Mason people, the grass isn't any greener with Magic Title, passed ROFR on 4/18 and 4/28, have not received documents for either yet.

We passed ROFR 3/16 and didn’t get closing docs until 4/13 with https://magicvacationtitle.com/. I was beyond frustrated that it took that long

 

[ccv_fam]

We passed ROFR 3/16 and didn’t get closing docs until 4/13 with https://magicvacationtitle.com/. I was beyond frustrated that it took that long

Ive found you have to ask to change title companies if the work hasnt started with them and you'll either get them later that day or the next.

 

[dottieluv22]

dottieluv22---$88-$14538-150-BRV@WL-Dec-0/21, 17/22, 90/23, 150/24-seller pays MF '22- sent 5/7

We shall see what happens, truly hoping that the monster doesn't start truly rearing its ugly head.

 

[kmm227]

Just heard from my broker that Cammy did leave Mason.

 

[Epcot Forever Forever]

Just heard from my broker that Cammy did leave Mason.

Huh. Well I’m mid-closing process with her so that’s not great news.

 

[Isabelle12345]

Huh. Well I’m mid-closing process with her so that’s not great news.

Same here. I received an email this morning from the new broker and he said he was hoping to have everything done for the 15th of may (and we have signed the papers on the 27th of April…)
it is frustrating that she left while having some files mid-closing process (although I understand she must have her reasons…)
Here’s hoping they pick it up quickly!