ROFR Thread July to Sept 2021 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Chia1974]

the subsidized dues contracts are a gem. I bought Aulani last year at $110…that’s what it was listed for and I don’t think anyone realized it was subsidized except for me…so I made a full price offer.

How did anyone not know it was subsidized? Did the broker not listed? Luckily you knew you found a gem!

 

[Jimmy Geppetto]

I had no idea what a subsidized contract was last week before I put my offer in last week. Now I see an almost identical contract (10 more points) asking $165. My contract is in ROFR now for $132, I think I made a right decision. Even though I think using the points at AUL is probably rare.

Asking $165 for a subsidized Aulani contract is crazy. That’s extremely over priced in my opinion.

 

[DKZB]

Has anyone ever had the experience of receiving less points than were promised in the contract and listing?
How did it work out?

I have now seen contracts from 3 brokers. 2 in the past included a rental clause where the seller returns 20-25 per point back to the buyer for every point not delivered at closing.

I was re-reviewing the most recent one last night and noticed it had NO remedy to me a buyer for the owner delivering less points than was promised in the contract. Am I over-reacting when I told the broker that I will not proceed past my 10 day cancellation period without a guarantee and remedy in place?

 

[pianomanzano]

How did you find out it was subsidized?

Some (if not all) of the brokers will denote a subsidized contract

 

[Jimmy Geppetto]

Has anyone ever had the experience of receiving less points than were promised in the contract and listing?
How did it work out?

I have now seen contracts from 3 brokers. 2 in the past included a rental clause where the seller returns 20-25 per point back to the buyer for every point not delivered at closing.

I was re-reviewing the most recent one last night and noticed it had NO remedy to me a buyer for the owner delivering less points than was promised in the contract. Am I over-reacting when I told the broker that I will not proceed past my 10 day cancellation period without a guarantee and remedy in place?

I spoke to my Broker last night and was advised that apparently its happening more often these days. She said “at least once per month”. The Title company doesn’t confirm this before closing. It’s really up to the Broker but the only incentive for them to ensure the contract is accurate is to avoid being the “middle person” if this problem arises. It’s really up to the buyer and seller to resolve it. Therefore it is VERY important for your contract to include a clause for this scenario.

My Broker advised that they now require the seller to submit a screen shot of their DVC account before closing. It actually delayed the closing by a day, but I am ok with that. I appreciate the Broker looking out for all parties.

 

[perchy]

I may be VERY different than most but I want to pay as little as possible and enjoy my vacation
For me that involves strategy, patience, risk and a little luck.

1. It sounds like you JUST signed those contracts so remember you have 10 days to back out. Don't feel bad if you need to back out, you worked hard for your money and this is a LONG contract!

2. Know what you want. How important is the 11 month booking window? If it's not get CHEAP points, if it is, buy what you would be happy to call home. Remember you have to divide purchase price by lifetime points to get the lifetime price per point and add your dues to get the total cost per point and compare apples to apples. For example, based on the math, a cheaper OKW contract is often more expensive in total relative to OKW(E) that sells at a slightly higher price. Also, smaller contracts sell at a BIG premium per point vs larger ones. You have to balance out time to save up for a larger contract vs. Higher price for smaller contracts.

3. Disappointments happen, if you are negotiating hard on lower cost properties, DVD will likely take it. Come to peace with that and know that you stretched your dollar if it gets through and if not, there is always a next one.

4. Don't be afraid to make lots of offers lower than you think they might accept. To get the contract I signed on today I tried maybe 10 offers and only 1 seller was willing to get close to where I wanted it. It may get taken, but that is OK because I got a good deal.

That's just my $0.02

Others prefer peace of mind. That is OK but you will likely pay more and it may all just be an illusion with Disney taking seemingly random contracts.

This is really great advice. WWYD? Lol. Should I wait on OKW at $135pp (2042). Or do it on the chance it goes through? Granted, it’s still cheaper than $180 pp. I do want OKW as my home tho.

Or, maybe try AKL for around the same range and book OKW at 7 months? I do want to stay at AKL at least once…. But then AKW has the longer contract as well. In my 70s, I may not care.

 

[Where'sPiglet?]

Has anyone ever had the experience of receiving less points than were promised in the contract and listing?
How did it work out?

I have now seen contracts from 3 brokers. 2 in the past included a rental clause where the seller returns 20-25 per point back to the buyer for every point not delivered at closing.

I was re-reviewing the most recent one last night and noticed it had NO remedy to me a buyer for the owner delivering less points than was promised in the contract. Am I over-reacting when I told the broker that I will not proceed past my 10 day cancellation period without a guarantee and remedy in place?

I do not believe requiring this clause is overreacting, especially while you still have the ability to rescind.

A written contract provides protection. I would stand firm on this. At the time I bought my resale, I don’t believe I had this clause or knew to look for it, but I’ve since seen enough posts on these boards to know points discrepancies happen.

 

[DKZB]

I spoke to my Broker last night and was advised that apparently its happening more often these days. She said “at least once per month”. The Title company doesn’t confirm this before closing. It’s really up to the Broker but the only incentive for them to ensure the contract is accurate is to avoid being the “middle person” if this problem arises. It’s really up to the buyer and seller to resolve it. Therefore it is VERY important for your contract to include a clause for this scenario.

My Broker advised that they now require the seller to submit a screen shot of their DVC account before closing. It actually delayed the closing by a day, but I am ok with that. I appreciate the Broker looking out for all parties.

I agree 100%. I am closing a different contract in 2 weeks. I will not close without verification in writing of the point balance. I have heard accounts of more points in the account, I have to imagine the opposite happens.

I was SHOCKED when another large broker included an indemnification for themselves but no remedy for the buyer.

 

[pianomanzano]

I asked for a screenshot of available points before signing closing docs, but that doesn't prevent them from transferring those points to another contract/membership/RCI at any point between closing and when the points show up in the buyer's account. I only asked for this because the initial contract I signed before going to ROFR had a clause saying that the broker and title company are not at fault if the listed points does not match the points received.

The broker also said that instances of points not matching the listing are extremely rare, but as a buyer I'd be more comfortable if there was some other clause in the contract or something in the closing process that would "fine" the seller if points did not match up. It would also really help if Disney could freeze a contract after it's gone through ROFR in a way that would preserve existing reservations but prevent usage or transfer of unused points (but I see no incentive on Disney's part to do so).

 

[DKZB]

I asked for a screenshot of available points before signing closing docs, but that doesn't prevent them from transferring those points to another contract/membership/RCI at any point between closing and when the points show up in the buyer's account. I only asked for this because the initial contract I signed before going to ROFR had a clause saying that the broker and title company are not at fault if the listed points does not match the points received.

The broker also said that instances of points not matching the listing are extremely rare, but as a buyer I'd be more comfortable if there was some other clause in the contract or something in the closing process that would "fine" the seller if points did not match up. It would also really help if Disney could freeze a contract after it's gone through ROFR in a way that would preserve existing reservations but prevent usage or transfer of unused points (but I see no incentive on Disney's part to do so).

Apparently its not so rare that they broker feels the need an indemnification for themselves!

 

[princesscinderella]

This is really great advice. WWYD? Lol. Should I wait on OKW at $135pp (2042). Or do it on the chance it goes through? Granted, it’s still cheaper than $180 pp. I do want OKW as my home tho.

Or, maybe try AKL for around the same range and book OKW at 7 months? I do want to stay at AKL at least once…. But then AKW has the longer contract as well. In my 70s, I may not care.

https://www.dvcmagicresales.com/dvclisting/disneys-old-key-west-resort-97-00-per-point-3-2/
This is a steal that probably won’t pass ROFR but if you want to take a chance on it I don’t think it will last long at this price.

 

[Jimmy Geppetto]

https://www.dvcmagicresales.com/dvclisting/disneys-old-key-west-resort-97-00-per-point-3-2/
This is a steal that probably won’t pass ROFR but if you want to take a chance on it I don’t think it will last long at this price.

I didn’t think Magin DVC was still in business. They’ve been non-responsive with me.

 

[LadybugsMum]

Question for the veterans. I’ll most likely end this year with 6 contract and 3 different UY(1 April, 1 September and 4 October).
What would my login look like? Different membership numbers I believe but how do they show under my dashboard?

Here's a picture from my dashboard with my 2 UY (Aug/Dec)

 

[Chia1974]

Here's a picture from my dashboard with my 2 UY (Aug/Dec)
View attachment 606590

Awesome! Thanks for the information.

 

[Jimmy Geppetto]

Jimmy Geppetto---$149-$35175-220-PVB-Aug-0/20, 220/21, 220/22, 220/23- sent 9/22

 

[Sandisw]

I spoke to my Broker last night and was advised that apparently its happening more often these days. She said “at least once per month”. The Title company doesn’t confirm this before closing. It’s really up to the Broker but the only incentive for them to ensure the contract is accurate is to avoid being the “middle person” if this problem arises. It’s really up to the buyer and seller to resolve it. Therefore it is VERY important for your contract to include a clause for this scenario.

My Broker advised that they now require the seller to submit a screen shot of their DVC account before closing. It actually delayed the closing by a day, but I am ok with that. I appreciate the Broker looking out for all parties.

Just be aware that until MA moves the contract to the new owner, even after closing, the current owner can still see and use the contract.

While I don’t think it happens, but it’s possible. Those of us with multiple contracts have to be careful when we know we have sold to ensure we don’t make a mistake!

But, until they are ready to actual move it from one to the other, there is no way to remove it. So, the clause is important but in reality, not sure how easy it is to enforce unless the title company holds the funds…which now some do…until the new owner verifies it’s correct.

 

[Adg0428]

Jimmy Geppetto---$149-$35175-220-PVB-Aug-0/20, 220/21, 220/22, 220/23- sent 9/22

Wow what a great price!!

 

[princesscinderella]

I didn’t think Magin DVC was still in business. They’ve been non-responsive with me.

They are extremely slow and not good at communicating but I did bid on a property one time with them but couldn’t agree on the price.

 

[Adg0428]

Today is day 27 for me… someone knock some sense into me and tell me to stop checking my email

 

[DVChris]

DVChris---$120-$6645-50-SSR-Jun-0/20, 0/21, 50/22, 50/23- sent 8/27, taken 9/22
DVChris---$120-$24850-200-SSR-Jun-0/20, 0/21, 200/22, 200/23- sent 8/30, taken 9/22

I am 0/3 with SSR.