ROFR Thread September-December 2015 *PLEASE USE NEW THREAD*

[pangyal]

Just Passes ROFR on this property today.

$100-$16,000-160-AUL-Aug 305/'16, 160/'17-Sent 10/6 Passes 10/21

That was fast! Two for two, right? Congratulations :-D!

 

[pangyal]

Pangyal - please add me. I think my post fell between the cracks during the BWV debate. Thanks

I'm so sorry, I was combing through to make sure I had everyone and I missed yours somehow . You're added now though, thanks for the nudge and good luck !

 

[Buzzalot]

I'm so sorry, I was combing through to make sure I had everyone and I missed yours somehow . You're added now though, thanks for the nudge and good luck !

No problem!!!! Thanks for adding me.

 

[LoLaRae]

We did the DVC tour a few weeks ago (before deciding to go resale) and our guide had mentioned in passing that starting with this fiscal year DVD was going to be buying back more contracts and trying to control the resale market more aggressively. Those stats are reflecting that.

 

[Sharon526]

I totally agree that it's important for people to have good information .

With that being said, here are a few of the host of factors that influence DVC's decisions to buy back a property:

-Unit Number

-Any legal issues- bankruptcies, divorce, powers of attorney...they don't touch those generally speaking. But chances are the buyer won't know the details at the time of the offer.

Good to know! The points I bought at $45 per point was sold by a trust, so you think that's why they didn't take it? What is unit number?

 

[LoLaRae]

Passed 10/23!!!

After 7 years of daydreaming about it, I can finally add myself to this!! This thread has been amazingly helpful in this process so far.

Lolarae---$117-$11700-100-BLT-Jun-0/15, 96/16, 100/17-sending 10/13

 

[LisaS]

What is unit number?

If you look at your paperwork you will see that you own some tiny percentage of some numbered Unit at your resort. For example you might own 0.2456% of Unit 35B at resort XYZ. Each Unit consists of one or more rooms at that resort. At AKV for example, the Units vary in size and might consist of four dedicated studios or two 2BR lockoffs or a Grand Villa. At OKW I recall reading that each Unit consists of an entire building (OKW consists of many buildings each containing a mix of room sizes). This allows Disney to declare and sell the resort a bit at a time. As sales progress, they add more Units to the condominium association and can then sell points from those newly declared Units.

All points within a Unit are the same Use Year and there are a fixed number of points within each Unit, corresponding to the cost in points to rent every room in that Unit for every night of the year. When Disney reacquires a contract (through ROFR or foreclosure) they can divide that contract up and resell it in smaller pieces but they cannot combine it with another contract unless it is from the same Unit at that resort. So if someone is on the waiting list for 100 points at BLT and Disney has 10 points from Unit 71 at BLT and 40 points from Unit 3 and 50 points from Unit 14, they cannot combine those into one 100-point contract and sell it to that member. They would need to acquire more points from Unit 71 or 3 or 14 through ROFR or foreclosure in order to build a contract with enough points to sell it to the person on the waiting list who wants 100 points. Therefore, many of us suspect that the reason why Disney sometimes exercises ROFR on a particular contract when they passed on others at the same resort with a lower sales price is because they needed a contract from a specific Unit in order to combine it with other points they already hold from that same Unit.

The particular Unit you own will only be significant if your Unit is damaged and is uninhabitable (due to fire, hurricane, etc.) Disney could opt not to rebuild or repair that Unit and the owners of that Unit would receive insurance proceeds and the points tied to that Unit would no longer be usable. Similarly if your Unit is rebuilt, while that was happening the points you owned from that Unit could not be used. That is because you are not required to stay in the Unit you own so on every DVC stay, you are essentially trading space in the Unit you own for space in another Unit (either at the same resort or another resort). If your Unit cannot be occupied, then you have nothing to trade.

 

[kmurphy11795]

Sent 10/12 passed today 10/23, 200 points SSR October use year

 

[AmyKat]

Very well said, Lisa!

 

[Buzzalot]

Congrats to everyone who passed ROFR recently!!!!

I didn't think I would be back on this thread so soon. Haha, actually in the same year as my first contract. I wanted to add on a small contact next year (30 pts - SSR - same UY - direct). Couldn't pass this 30pts up on resale.

Buzzalot ---$139-$4170-30-BLT- Sept - 27/15, 30/16, 30/17- sent Oct. 14

Passed 10/23. So fast. I can't believe it. My first contract went the full 30 days.

 

[ustasmom]

Passed 10/23. So fast. I can't believe it. My first contract went the full 30 days.

Yeah!!!

I actually called a broker to buy that property. He said that it was pending but he had a 50 point BLT sitting on his desk.

 

[DisBuckMan]

Passed 10/23. So fast. I can't believe it. My first contract went the full 30 days.

9 days....that's fast.

Fingers crossed that mine passes that quickly.

 

[pangyal]

Good to know! The points I bought at $45 per point was sold by a trust, so you think that's why they didn't take it? What is unit number?

Yes, in my personal opinion, that's why they didn't want to deal with it. I didn't realize it was a trust sale.

 

[pangyal]

Passed 10/23!!!

WOOHOO!!!!! Congratulations !

 

[pangyal]

If you look at your paperwork you will see that you own some tiny percentage of some numbered Unit at your resort. For example you might own 0.2456% of Unit 35B at resort XYZ. Each Unit consists of one or more rooms at that resort. At AKV for example, the Units vary in size and might consist of four dedicated studios or two 2BR lockoffs or a Grand Villa. At OKW I recall reading that each Unit consists of an entire building (OKW consists of many buildings each containing a mix of room sizes). This allows Disney to declare and sell the resort a bit at a time. As sales progress, they add more Units to the condominium association and can then sell points from those newly declared Units.

All points within a Unit are the same Use Year and there are a fixed number of points within each Unit, corresponding to the cost in points to rent every room in that Unit for every night of the year. When Disney reacquires a contract (through ROFR or foreclosure) they can divide that contract up and resell it in smaller pieces but they cannot combine it with another contract unless it is from the same Unit at that resort. So if someone is on the waiting list for 100 points at BLT and Disney has 10 points from Unit 71 at BLT and 40 points from Unit 3 and 50 points from Unit 14, they cannot combine those into one 100-point contract and sell it to that member. They would need to acquire more points from Unit 71 or 3 or 14 through ROFR or foreclosure in order to build a contract with enough points to sell it to the person on the waiting list who wants 100 points. Therefore, many of us suspect that the reason why Disney sometimes exercises ROFR on a particular contract when they passed on others at the same resort with a lower sales price is because they needed a contract from a specific Unit in order to combine it with other points they already hold from that same Unit.

The particular Unit you own will only be significant if your Unit is damaged and is uninhabitable (due to fire, hurricane, etc.) Disney could opt not to rebuild or repair that Unit and the owners of that Unit would receive insurance proceeds and the points tied to that Unit would no longer be usable. Similarly if your Unit is rebuilt, while that was happening the points you owned from that Unit could not be used. That is because you are not required to stay in the Unit you own so on every DVC stay, you are essentially trading space in the Unit you own for space in another Unit (either at the same resort or another resort). If your Unit cannot be occupied, then you have nothing to trade.

I was about to respond when I saw that you had, and a million times better than what I could have written- thanks !

 

[pangyal]

Sent 10/12 passed today 10/23, 200 points SSR October use year

Amazing!!! Another SSR sneaks through !

Congratulations!

 

[pangyal]

Passed 10/23. So fast. I can't believe it. My first contract went the full 30 days.

WHA-?!? But I just added you, how can you already have passed ?

CONGRATULATIONS!!!

 

[pangyal]

9 days....that's fast.

Fingers crossed that mine passes that quickly.

They've REALLY sped up the process, though BLT seems to go faster than the others. Fingers crossed for you !

 

[mickeyman]

WHAT?!? This is the new ROFR timeline record! I am so excited for you !!!

I thought my 13 days was quick, my record didn't last long

 

[Buzzalot]

WHA-?!? But I just added you, how can you already have passed ?

CONGRATULATIONS!!!

I know....... So crazy!!!!!!!