ROFR Thread Jan to March 2026 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[pzw90]

I’m trying to understand the total amounts in the data strings.

For example, the contract size is 100 and the price per point is 100. There are 0 points left for 2025, 100 points left for 2026, and 100 points left for 2027. The total displays as $10,000. Does that mean the seller paid for the 2026 dues?

Or if the buyer paid for the 2026 dues assuming they were $1,000, would the total display as $11,000?

Have you checked the link that generates the strings?

https://rofr.scubacat.net/

 

[IsDVCForMe?]

Have you checked the link that generates the strings?

https://rofr.scubacat.net/

I have. In the total costs section, it states to include maintenance fees. Would this include 2026 maintenance fees?

I’m new to this and the note at the bottom of that page has me confused.

 

[pzw90]

I have. In the total costs section, it states to include maintenance fees. Would this include 2026 maintenance fees?

I’m new to this and the note at the bottom of that page has me confused.

If you are reimbursing the seller, then yes, include that in the total.

Your example of 100 points, at $100 p/p, MF of $10 p/p. Reimbursing seller for 2026 would be a total cost of $11,000. You should include closing cost, say another $1000, and assuming you are paying the $500 CAF so your total would be $12,500. Include anything else you’re paying (some brokers charge additional fees). Basically, your out the door price is the total

 

[intamin]

I’m trying to understand the total amounts in the data strings.

For example, the contract size is 100 and the price per point is 100. There are 0 points left for 2025, 100 points left for 2026, and 100 points left for 2027. The total displays as $10,000. Does that mean the seller paid for the 2026 dues?

Or if the buyer paid for the 2026 dues assuming they were $1,000, would the total display as $11,000?

It should include everything. Or at least that's how I interpret it. Dues, closing costs, CAF etc.

Otherwise we might as well just multiply the price per point by the number of points lol.

 

[IsDVCForMe?]

It should include everything. Or at least that's how I interpret it. Dues, closing costs, CAF etc.

Otherwise we might as well just multiply the price per point by the number of points lol.

Not really. It’s hard to understand who’s paying for maintenance fees, closing costs, and/or DAC fee just by looking at totals.

 

[airjay75]

Not really. It’s hard to understand who’s paying for maintenance fees, closing costs, and/or DAC fee just by looking at totals.

If you're reviewing prior ROFR thread data (which I highly recommend to get a sense for the sorts of deals that are possible), I typically take the price/point multiply it by the number of points on the contract and then see what the difference is between that amount and the total amount paid. Usually, the total amount paid is more because the buyer will be paying the closing costs (about $600-$1,000) and current year dues (dues cost x number of points in current UY). Starting with 2026, there is also the $500 CAF, but that won't be part of older ROFR data. At least one broker (maybe more) charge the buyer an administrative fee ($240 for the one broker of which I'm aware).

Of course, this means that the price/point is not the only possible point of negotiation and is not necessarily reflective of how good the deal was. A deal at full list price (say $140/point) where the seller is covering current year dues (assume full current year points), closing costs, and CAF is FAR better deal than $130/point where the buyer pays all those items.

If a contract has full current year points, but you get the seller to pay for those (typically thought of as buyer will not reimburse seller), and the dues are $9/point, you effectively took $9/point off the purchase prices. If a contract has 100 points, and you get the seller to cover the CAF, that's $5 off per point.

Some brokers/sellers are more willing to negotiate on some of the items than others.

 

[IsDVCForMe?]

If you're reviewing prior ROFR thread data (which I highly recommend to get a sense for the sorts of deals that are possible), I typically take the price/point multiply it by the number of points on the contract and then see what the difference is between that amount and the total amount paid. Usually, the total amount paid is more because the buyer will be paying the closing costs (about $600-$1,000) and current year dues (dues cost x number of points in current UY). Starting with 2026, there is also the $500 CAF, but that won't be part of older ROFR data. At least one broker (maybe more) charge the buyer an administrative fee ($240 for the one broker of which I'm aware).

Of course, this means that the price/point is not the only possible point of negotiation and is not necessarily reflective of how good the deal was. A deal at full list price (say $140/point) where the seller is covering current year dues (assume full current year points), closing costs, and CAF is FAR better deal than $130/point where the buyer pays all those items.

If a contract has full current year points, but you get the seller to pay for those (typically thought of as buyer will not reimburse seller), and the dues are $9/point, you effectively took $9/point off the purchase prices. If a contract has 100 points, and you get the seller to cover the CAF, that's $5 off per point.

Some brokers/sellers are more willing to negotiate on some of the items than others.

What you posted makes total sense. But I’ll have to find the strings I’ve come across where some have notes that seller paid closing fees and/or maintenance fees and others don’t, but the math just didn’t add up. Where the number is low enough that it appears the seller would have had to pay closing fees and/or maintenance fees but it’s not stated in the string. It could be confusion on my part as well as being a newbie.

 

[airjay75]

What you posted makes total sense. But I’ll have to find the strings I’ve come across where some have notes that seller paid closing fees and/or maintenance fees and others don’t, but the math just didn’t add up. Where the number is low enough that it appears the seller would have had to pay closing fees and/or maintenance fees but it’s not stated in the string. It could be confusion on my part as well as a newbie.

I’m sure not everyone reported it correctly. I will note that the default assumption on the strings is that for any current use year points, the buyer would pay dues on that. And “current UY” is a bit weird in that it means any UY that begins in the current calendar year. So if a December UY contract had 0 2025 points but full 2026 points, the default assumption is that buyer reimburses seller for the dues on those 2026 UY points. But, if a contract has 0 2026 UY points (regardless of whether that 2025 UY began in Feb or Dec), the default assumption is that seller paid the 2026 dues and received no reimbursement.

You will sometimes see contracts stripped of future year points (2027 currently) - that means the seller borrowed and used those points before selling (sometimes with a delayed close). In these cases, it would not be unusual for the buyer to ask for a credit for the estimated dues on those 2027 points since they won’t be able to use them, which would further reduce the total amount paid. That might make it appear as if the buyer paid little or no closing costs.

Sometimes people report those details. Sometimes they don’t.

 

[IsDVCForMe?]

I’m sure not everyone reported it correctly. I will note that the default assumption on the strings is that for any current use year points, the buyer would pay dues on that. And “current UY” is a bit weird in that it means any UY that begins in the current calendar year. So if a December UY contract had 0 2025 points but full 2026 points, the default assumption is that buyer reimburses seller for the dues on those 2026 UY points. But, if a contract has 0 2026 UY points (regardless of whether that 2025 UY began in Feb or Dec), the default assumption is that seller paid the 2026 dues and received no reimbursement.

You will sometimes see contracts stripped of future year points (2027 currently) - that means the seller borrowed and used those points before selling (sometimes with a delayed close). In these cases, it would not be unusual for the buyer to ask for a credit for the estimated dues on those 2027 points since they won’t be able to use them, which would further reduce the total amount paid. That might make it appear as if the buyer paid little or no closing costs.

Sometimes people report those details. Sometimes they don’t.

And I think that’s just it. I’m thinking some of these numbers should actually be a bit higher.

 

[IsDVCForMe?]

Here is an example:

grayvboat---$90-$13500-150-SSR-Sep-0/24, 150/25, 150/26, 150/27-seller pays MF 25- sent 12/31, passed 1/20

Do I assume closing costs and 2026 dues were paid by the seller as well? Saw it was sent 12/31, but since dues come out in January I’d assume buyer needs to reimburse seller since closing will be after January?

Here’s another one:

Lashxl---$110-$12941-100-AKV-Oct-100/25, 100/26, 100/27- sent 2/26

Is the $1941 for 2025 and 2026 dues or closing costs or a combo of both? Did the math on dues for 2025 and 2026 and I got a total of $1,981. Seems that can’t be it.