ROFR Thread July to Sept 2022 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[CaptainAmerica]

As the seller, you’ll receive the same amount you agreed to with the previous buyer. Nothing has changed except the name of the buyer. @Sandisw has experience and can speak to the process and timeline.

Nothing different except they won’t get it closed until much closer to your closing date. I got papers a day or two before.

Once my deed was recorded it took about 10 days or so to have the funds in my account and it was almost two weeks or so before the contract left my dashboard.

I think there's a certain contract provision that can change this, if I'm remembering correctly.

I believe if the contract specifies that Seller pays closing costs, there's a line item in the closing costs that doesn't apply when you sell to Disney, so your net cash received from the transaction would be slightly better than the contract terms.

 

[LadybugsMum]

Thank you for the quick responses! I thought we should get the same price, but I wanted to make sure, because I know Disney pays less if you try to directly sell back to them.
Do you still get the documents notarized as you do with a private buyer?

Everything in the contract stays the pretty much same except Disney is now the buyer and they do their own closings. So the closing costs will probably change, but that only matters if the seller is paying for the closing. I am not paying for the closing; everything on my side is the same.

Yes, you have to get the documents notarized as the seller. I received my documents last Tues (8/6) and had them back at FedEx the same day. They were received by Disney on Thurs 8/8 and the closing was scheduled for yesterday. I have not heard anything about the closing happening, but I'll just keep checking the Orange county comptroller site until I see that the deeds were recorded.

 

[Brian Noble]

I think they're buying AKV/SSR/OWK to juice RIV/VGF sales now.

I think this gives far too much credit to the resale market as a force impacting developer sales. No other developer seems to care that cheap (and in some cases, free) resales exist, but maybe Disney Is Different.

 

[Sandisw]

Interesting point that it took Disney nearly two weeks to remove the points from your Dashboard that they just purchased for themselves. There is a lot of talk around how long it takes for points to be removed from the seller and deposited into the buyers "account". I have never complained about that timeline; have always just accepted it as the price to pay for the awesome savings, but it does make me feel better that they take the same amount of time for themselves as they place on the rest of us!

Yup! And they took my contract for ROFR in April 1st. Closing was set for May 21st and they did not rush to close it earlier to get the points.

So, even as a buyer, they don’t push themselves ahead of the game.

 

[Sandisw]

I think there's a certain contract provision that can change this, if I'm remembering correctly.

I believe if the contract specifies that Seller pays closing costs, there's a line item in the closing costs that doesn't apply when you sell to Disney, so your net cash received from the transaction would be slightly better than the contract terms.

You are right. They didn’t charge me the fee for estoppel.

 

[CaptainAmerica]

I think this gives far too much credit to the resale market as a force impacting developer sales. No other developer seems to care that cheap (and in some cases, free) resales exist, but maybe Disney Is Different.

Can the other developers snap their fingers and flip those points at a profit with little to no marketing expense on the back end? I think that's the secret sauce. There's very little risk on Disney's side because they can easily resell any of the points they hoover up.

 

[Sandisw]

Can the other developers snap their fingers and flip those points at a profit with little to no marketing expense on the back end? I think that's the secret sauce. There's very little risk on Disney's side because they can easily resell any of the points they hoover up.

My only comment though is that selling those resorts while trying to sell RIV and VGF May take away from those sales.

It’s why I’d be surprised to see any sale anytime soon. And with hotel occupancy is at 90% based on the earnings report this gives them more options to rent for cash.

 

[CaptainAmerica]

My only comment though is that selling those resorts while trying to sell RIV and VGF May take away from those sales.

Could be. I think there are three buckets of would-be buyers.

1. Have decided to buy DVC, don't have a favorite resort, and are willing to buy RIV or VGF at current prices.
2. Would buy DVC but only at a particular resort that may or may not be in active sales.
3. Would buy DVC, don't have a favorite resort, but really want to think they're getting a great deal.

I think they'd attract new buyers from groups 2 and 3, but would cannibalize some RIV/VGF buyers out of group 1.

It’s why I’d be surprised to see any sale anytime soon. And with hotel occupancy is at 90% based on the earnings report this gives them more options to rent for cash.

I think that's right in the short term. In the long term, one of two things has to happen. Either demand falls and they no longer need the points, or demand stays high and they look to build more cash inventory. Trend recently has been to convert cash inventory to points inventory (Big Pine Key, Copper Creek, even Riviera), not the other way around.

 

[ValW]

ValW---$154-$6137-35-BWV-Dec-0/21, 70/22, 35/23- sent 7/8, passed 8/15

My sister's first contract!

 

[NVDISFamily]

Could be. I think there are three buckets of would-be buyers.

1. Have decided to buy DVC, don't have a favorite resort, and are willing to buy RIV or VGF at current prices.
2. Would buy DVC but only at a particular resort that may or may not be in active sales.
3. Would buy DVC, don't have a favorite resort, but really want to think they're getting a great deal.

I think they'd attract new buyers from groups 2 and 3, but would cannibalize some RIV/VGF buyers out of group 1.


I think that's right in the short term. In the long term, one of two things has to happen. Either demand falls and they no longer need the points, or demand stays high and they look to build more cash inventory. Trend recently has been to convert cash inventory to points inventory (Big Pine Key, Copper Creek, even Riviera), not the other way around.

I think the other wild card here is the future of resale restrictions. Our family is new to DVC and we are looking forward to the next 30 to 40+ years of enjoying this program. Our next purchase will likely be some points at CCV (unless VDH has a good deal and a great point chart). If VDH and Poly2 have the restrictions then DVC is likely committed to this path, then the value of buying direct is worth a bit more and it's an option we have to consider. If they did a sale on CCV in the low 200s, I'd have to weight that vs the resale price to have those points open to more resorts as DVC grows or more important, as the 2042 resorts flip. We'll likely be going to WDW every other year so 2042 is only 10 trips from now........

 

[CaptainAmerica]

I think the other wild card here is the future of resale restrictions. Our family is new to DVC and we are looking forward to the next 30 to 40+ years of enjoying this program. Our next purchase will likely be some points at CCV (unless VDH has a good deal and a great point chart). If VDH and Poly2 have the restrictions then DVC is likely committed to this path, then the value of buying direct is worth a bit more and it's an option we have to consider. If they did a sale on CCV in the low 200s, I'd have to weight that vs the resale price to have those points open to more resorts as DVC grows or more important, as the 2042 resorts flip. We'll likely be going to WDW every other year so 2042 is only 10 trips from now........

I wouldn't buy points now based on what you think they might do in the future.

Pretend Poly2 is an expansion of PVB, VDH is impossible to get at 7 months, and whatever they announce on the backside of Poly2 is a theme that doesn't appeal to you at all. It could be 10 years from now and Direct CCV points gain you nothing besides what they get you today, which is Riviera.

I think it would be better to wait until and unless there's something Direct-restricted that you must have, and only buy Direct at that point. (Unless of course you do want access to Riviera and/or want Direct for other reasons, in which case shoot your shot.)

 

[CarolynFH]

Signed: Enablers-R-Us.

I love this!

Could be the title of the Purchasing forum.

 

[NVDISFamily]

I wouldn't buy points now based on what you think they might do in the future.

Pretend Poly2 is an expansion of PVB, VDH is impossible to get at 7 months, and whatever they announce on the backside of Poly2 is a theme that doesn't appeal to you at all. It could be 10 years from now and Direct CCV points gain you nothing besides what they get you today, which is Riviera.

I think it would be better to wait until and unless there's something Direct-restricted that you must have, and only buy Direct at that point. (Unless of course you do want access to Riviera and/or want Direct for other reasons, in which case shoot your shot.)

Good wisdom.

I'm already bought in at Riviera so I'm kind of "stuck" on the direct has value bandwagon. For VDH trying to ninja rooms at 7 months will still be a okay goal for our points as we only live a 3 to 4 hour drive away so it's not hard at all to try and go for rooms at 7 months out as we don't have to commit to plane tickets and the like. If we can't get weekend X, we'll just go for weekend Z

If prices continue to drop on CCV (I think I saw one pass in the 150s) I think temptation will have it's way with me and I'll be buying some CCV resale in the next year or so.....

 

[TheGambler22]

TheGambler22---$156-$13636-80-BWV-Oct-0/20, 0/21, 122/22, 80/23- sent 7/20, passed 8/16

VERY excited and thanks all for the advice and suggestions.

 

[Sandisw]

I wouldn't buy points now based on what you think they might do in the future.

Pretend Poly2 is an expansion of PVB, VDH is impossible to get at 7 months, and whatever they announce on the backside of Poly2 is a theme that doesn't appeal to you at all. It could be 10 years from now and Direct CCV points gain you nothing besides what they get you today, which is Riviera.

I think it would be better to wait until and unless there's something Direct-restricted that you must have, and only buy Direct at that point. (Unless of course you do want access to Riviera and/or want Direct for other reasons, in which case shoot your shot.)

True...but buying resale now...unless the rules change...do guarantee you are restricted from RIV and future resorts. Buying direct at least guarantees that future resorts declared as DVC (which is how the POS is written) will be available for you.

But, I would not buy a resort you don't enjoy for that....however, I don't think there is much to suggest that DVD will be backing off on restrictions at this points, so if I am buying, and would be disappointed if I was shut out, then direct needs stay on the table for a choice.

 

[JENinNORCAL]

1st time buyer attempt. Crossing my fingers, but thinking this one may get chomped by the ROFR monster

JENinNORCAL---$110-$22575-200-SSR-Sep-0/20, 200/21, 200/22, 200/23-sellers pays MF 22- sent 7/8

JENinNORCAL---$110-$22575-200-SSR-Sep-0/20, 200/21, 200/22, 200/23-sellers pays MF 22- sent 7/8 - taken 8/16

It was bound to happen.

 

[cpyle21]

I blame you all, but we are 2 weeks into ROFR on our very first contract and I just put in for another contract.

 

[TheGambler22]

I blame you all, but we are 2 weeks into ROFR on our very first contract and I just put in for another contract.

We just passed ROFR and are looking at additional, so I get it.

 

[NVDISFamily]

I blame you all, but we are 2 weeks into ROFR on our very first contract and I just put in for another contract.

Did the same thing on our jump into this madness. My only tip was that I pushed to have the same title company so they could help me line up everything. Wish you the best of luck

 

[softballmom3]

So.....made an offer on a small contract to add to ours on a broker's site and I guess apparently if they consider it too low they disable your account????? I went back in to check it and it said account disabled to call their office. I did receive an email the seller rejected it. Maybe I'll keep this one on a do not use list.