ROFR Thread July to Sept 2024 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[VGCgroupie]

According to the broker, they can’t. I understand that it’s more like they won’t. Everybody can cancel a reservation if they want to.

Im new to DVC but it's October.. how can they not. It's likely other reasons like you say. Personally I would tell them you need to think about it, look at the market and make an offer on something else then decide which way to go. It wasn't a bad deal but not phenomenal either. Delayed closing listings tend to sit on the market and/or sell for less for a reason.

 

[AstroBlasters]

According to the broker, they can’t. I understand that it’s more like they won’t. Everybody can cancel a reservation if they want to.

They may have rented out the points.

 

[AstroBlasters]

For now I’m waiting for an activity statement from the broker which will get it from DVC. If some of the points are missing I’m 100% going to cancel. But you are right what’s not to say something else couldn’t go wrong.

If all points are there I’m going to ask for a compensation.

Thanks that’s what I have done and now waiting for. My closing is about $350, that could be an option but $350 is a small compensation.

According to the broker they forgot to mention it and have made the reservation some time ago.

But as you say some of the contracts have been sitting there for some time.

If I cancel then the sellers are on the hook for the brokers commission that at least should make them more open to give me a compensation.

Is $350 for a 45 day delay small compensation?

 

[CarolynFH]

Looking for advice or suggestions.

I was just informed that my sellers had “forgot” that that they have a reservation for late October.

According to our signed contract we are due to close by mid September at the latest.

Currently I lean towards cancel my contract and find something else. However I’m also satisfied with what I’ve found but maybe I can find something better?

Since my contract does not come with banked 2023 points I fear that since the sellers forgot about their reservation that they might have used some of the 2024 points to make the Oct reservation.


Cyberc1978---$93-$14285-150-AKV-Apr-0/23, 150/24, 150/25, 150/26-Sellers pay ‘24 dues, closing costs are split- sent 7/15

Does your contract have a clause stating that if points are missing, the sellers owe you a certain amount per point (I’ve often seen $25 pp on these boards)? If not, I’d either just back out or push for that level of compensation, not just a measly $350 in closing costs.

 

[E2ME2]

Surprised you let that 40 pointer go for $100!

I made out ok on it!

 

[jolynne28]

Looking for advice or suggestions.

I was just informed that my sellers had “forgot” that that they have a reservation for late October.

According to our signed contract we are due to close by mid September at the latest.

Currently I lean towards cancel my contract and find something else. However I’m also satisfied with what I’ve found but maybe I can find something better?

Since my contract does not come with banked 2023 points I fear that since the sellers forgot about their reservation that they might have used some of the 2024 points to make the Oct reservation.


Cyberc1978---$93-$14285-150-AKV-Apr-0/23, 150/24, 150/25, 150/26-Sellers pay ‘24 dues, closing costs are split- sent 7/15

While I'm very much a cynic, and can't imagine how someone can 'forget' they had a trip planned, if you are happy with the deal, which looks decent to me, I'd wait and see what the broker says about 2024 points. If they've used some of them they'd have to compensate you, so if you still have enough points to use for your planned 2025 trip, that's not a bad thing.
Of course you can back out and probably get a similar or slightly better deal, but then you'll miss the 11 mo window for September, which is the lowest DVC point tier, so very competitive. Also, you have to start the process all over again, and in the grand scheme of things, is your time worth the little bit of money you might save with a slightly better deal?

 

[badeacon]

OK - I have not seen these posted by the buyers, so I'll share the data as a first-time seller. I do not know what the closing costs are, so my total only reflects the sales price based on the points (& half of 2024 MF on the BCV contract)

E2ME2(Seller)---$100-$4000-40-SSR-Jun-0/23, 0/24, 40/25, 40/26-Sent 7/22

E2ME2(Seller)---$140-$4313.85-30-SSR-Jun-0/23, 14/24, 30/25, 30/26-Buyer pays 50% of 2024 Dues- Sent 7/22

Don't know how buyers feel about their respective deals, but I'm happy with both. In total, I pretty much broke even after paying commission, so it's like I used these contracts for several years by just paying the yearly dues!
I still have 900 Points, and we will continue to snowbird for the foreseeable future.

So you sold SSR on both and not one BCV as listed on your original post?

 

[MISCdisney21]

MISCDisney21---$120-$6555-50-BRV@WL-Dec-0/23, 39/24, 50/25- sent 7/14

MISCDisney21---$138-$7538-50-BWV-Dec-0/23, 25/24, 50/25- sent 7/16

Seller on both of these. I am probably off on the fees without looking up again but that was correct price per point.
BRV sold next day with full price offer, BWV sold in 3 days with full price offer.

Using proceeds on SSR 160 pt loaded contract for $95 per point posted couple weeks ago. Basically wanting to extend my expiration date.

 

[karen4546]

We love BRV. We just passed ROFR on a 85 point contract yesterday. We paid $96pp, which was more than what we were looking at compared to SSR, but we will use it to book BRV exclusively and hopefully one day, for a trip around Christmas.

Sorry to hear you have yet to close. When is your next trip?

We just booked a long weekend at BRV for our middle’s birthday in early September. Can’t wait to be back.

October - snagged a club level studio AKV and standard studio for 5 nights-hubs and I are in the CL studio and my daughter is in the standard.

February-cash stay GDT and hoping to use our new AKV for a grand villa in May 2025.

We stayed in a BRV 2 bedroom lock off in May 2023 and so we bought 100 pts in June 2023.

We used those points though for a 2 bedroom lock off at Boardwalk In May 2024.

 

[LittleBitGoofy]

It is, for some reason when I wrote it out it posts with all asterisks, so I figured I'm not supposed to say it, but not sure why everyone else can type it out.

The acronym gets asterisks but if you spell out the domain, magicvacationtitle.com, it'll appear. No idea why the three-letter-combo is prohibited.

Based on what you described happening I figured it was that same title co as the one we had this spring when it took 12 days after ROFR to receive our docs. Turned out our processor was out of the office and they didn't transfer the files to another processor. I guess that's just their MO over there. Not surprised.

Reminder kids: Buyers can pick their title company! There are so many good choices that are faster and cheaper than magicvacationtitle.com.

 

[karen4546]

Which title company are you using?

Magic vacation title.

 

[Cyberc1978]

Im new to DVC but it's October.. how can they not. It's likely other reasons like you say. Personally I would tell them you need to think about it, look at the market and make an offer on something else then decide which way to go. It wasn't a bad deal but not phenomenal either. Delayed closing listings tend to sit on the market and/or sell for less for a reason.

As @AstroBlasters mentioned they probably rented out the points.

They may have rented out the points.

I actually didn’t think of that and I think you could be right.

Is $350 for a 45 day delay small compensation?

Assuming everything else goes smoothly then yes $350 for 45 days is a small compensation.

Does your contract have a clause stating that if points are missing, the sellers owe you a certain amount per point (I’ve often seen $25 pp on these boards)? If not, I’d either just back out or push for that level of compensation, not just a measly $350 in closing costs.

Yes it states $20 per missing point.

While I'm very much a cynic, and can't imagine how someone can 'forget' they had a trip planned, if you are happy with the deal, which looks decent to me, I'd wait and see what the broker says about 2024 points. If they've used some of them they'd have to compensate you, so if you still have enough points to use for your planned 2025 trip, that's not a bad thing.
Of course you can back out and probably get a similar or slightly better deal, but then you'll miss the 11 mo window for September, which is the lowest DVC point tier, so very competitive. Also, you have to start the process all over again, and in the grand scheme of things, is your time worth the little bit of money you might save with a slightly better deal?

Im definitely gonna wait for the point activity statement from the broker. If some are used I’m definitely out.

I can accept not being able to book September 2025 but I’m having a hard time accepting that they don’t stick to the contract - I know life happens and I need to either accept, cancel or make them sweeten the deal.

I’m mostly inclined to cancel unless they compensate me - I know they are in the hook for the brokers commission so if I cancel they are out more than $1,100 and still need to wait to find another buyer and pay commission again.

 

[MISCdisney21]

$93 a point for AKL still looks like a good deal. I’d see what happened, maybe it’s an honest mistake. See how many points it is and if it will change your plans. If that’s ok and you get compensated, I may keep that deal.

 

[Disney_escape]

Disney_escape---$107-$17002-150-RIV-Aug-0/23, 10/24, 150/25, 150/26- sent 6/24, passed 7/19

 

[TheDailyMoo]

Disney_escape---$107-$17002-150-RIV-Aug-0/23, 10/24, 150/25, 150/26- sent 6/24, passed 7/19

Wow getting close to breaking the 100 barrier!

 

[Disney_escape]

Wow getting close to breaking the 100 barrier!

yep, my goal was $110 but with 24 points, so not quite if you assume $10 net value on points but it was the right UY and the size I wanted to add to our portfolio.

 

[karen4546]

Disney_escape---$107-$17002-150-RIV-Aug-0/23, 10/24, 150/25, 150/26- sent 6/24, passed 7/19

Nice! I’m thinking about selling my BRV and getting RIV.

The only points I can’t sell are 100 of my direct pts that we bought in 2019-AKV.

 

[Catou]

According to the broker, they can’t. I understand that it’s more like they won’t. Everybody can cancel a reservation if they want to.

Maybe they rented out the points? And they don’t want to leave the renter hanging out to dry. Just a thought.

 

[AwfulWaffle]

I would never buy without title insurance, the $600 figure the broker quoted me, so maybe they aren't aware of First Americans policy

Same which is why we paid extra for this title company. I already pulled the low image quality doc off the controllers page for both of our buys but still prefer the additional assurance for a drop in the bucket compared to the 100k I jiust committed to this timeshare purchase.

 

[Lorana]

Lorana---$78-$2748-25-HH-Sep-0/23, 25/24, 25/25-SELLER- sent 7/21