ROFR ~ Waived on Resale!

[anbouk]

I have some great news that I'd like to share with all of you! I just got an email from my resale agent and it states... "Mrs.____I have some great news your ROFR has been WAIVED thru Disney and now we are just waiting for the closing documents. You will close in approx 2 weeks. Needless to say, I am as happy as can be. Here I was worrying cause my deal was sooooo good to be true ($80/pt for a loaded contract at BCV) and now I was with much pixie dusties!!!

Has anyone heard this one before an ROFR being WAIVED? Maybe cause of the economy, recession, dunno, but, I may send them an email for further explanation. I don't want to pester them, as I kept emailing them for the status every other day....can you tell how anxious I was!

So happy to be able to book our first stay at home real soon!

 

[dudelydude]

WOW! First and foremost, congratulations to you. Second, I hate you. I am so jealous, but it is good (for potential buyers) to know that deals are there (and will be there) to be had. This may just send some existing DVCers off the deep end though, so let me just be the first to say this so you don't have to....everyone knows you DVCers bought into DVC as a long term investment to use way into the future and we know that you do not care about the short term loss in value of your DVC contract. It's all good.

 

[anbouk]

BTW, I should have mentioned the price set was from the seller, I didn't bother to counter-offer, as we thought it was too good to be true. I hope they didn't sell because of a hardship, just hoping they fulfilled their disney years and wanted to move on. BTW, our contract was one of three they were offering for sale at other resorts, too. At least that is what our agent told us. Our family can now enjoy DVC because of these wonderful folks who wished to sell. I guess you need to be at the right place and at the right time. Did I mention, this was our third resale we looked at finally purchased. The first two didn't go thru,...as other personal circumstances came-up!

 

[5forDiz]

I have some great news that I'd like to share with all of you! I just got an email from my resale agent and it states... "Mrs.____I have some great news your ROFR has been WAIVED thru Disney and now we are just waiting for the closing documents. You will close in approx 2 weeks. Needless to say, I am as happy as can be. Here I was worrying cause my deal was sooooo good to be true ($80/pt for a loaded contract at BCV) and now I was with much pixie dusties!!!

Has anyone heard this one before an ROFR being WAIVED? Maybe cause of the economy, recession, dunno, but, I may send them an email for further explanation. I don't want to pester them, as I kept emailing them for the status every other day....can you tell how anxious I was!

So happy to be able to book our first stay at home real soon!

Congratulations & may you have many wonderful DVC times in the years to come

Sure, if you want to you can email them for a further explanation but however it's worded whether that be :

"Disney's Waived ROFR" or "Disney's Passed On ROFR" or
"Disney's Opted To Not Exercise ROFR" . . .
it all comes down to mean the same thing and that is

Your contract has made it through ROFR !!!

 

[mickeys girl 52]

congrats on your contract I think that is the lowest resale for BCV. I just passed EOFR recently also for SSR.I was afraid to go too low thinking it wouldn't pass, so instead of paying $72.00 I paid 77.00 and the owners paid the closing cost to make up the difference.
Maybe Disney is so busy with AKL,BLT and Californian and Hawaii resorts that they are slowing down on the ROFR? anyway heres to many happy DVC vacations in the future.

 

[dunkie7557]

May I asked who you what resale company you used to purchase your DVC BCV? Were you happy with them overall ?

 

[christa112]

Ok, I am new to the DVC board, what do all these abbreviations mean??? I am totally lost. I am starting to look into purchase a DVC on a resale I would love some pointers on how to get the best deal.

 

[anbouk]

May I asked who you what resale company you used to purchase your DVC BCV? Were you happy with them overall ?

I will pm you! Very happy!

congrats on your contract I think that is the lowest resale for BCV. I just passed EOFR recently also for SSR.I was afraid to go too low thinking it wouldn't pass, so instead of paying $72.00 I paid 77.00 and the owners paid the closing cost to make up the difference.
Maybe Disney is so busy with AKL,BLT and Californian and Hawaii resorts that they are slowing down on the ROFR? anyway heres to many happy DVC vacations in the future.

Congrats...sounds like you made out well too!

 

[OneMoreTry]

If DVC allows resale prices to drop too low, they will compete with the new resort sales.

However, BLT and Hawaii are so unique they may believe that they can allow a bigger price gap to develop in the market without adversely affecting those sales.

Whatever, the reason, congratulations. Right place at the right time. Maybe there will be some bargains to be had for a while until the economy perks up. If we see more of this on resales, maybe there will be some more aggressive incentives on new sales, too.

 

[dudelydude]

Ok, I am new to the DVC board, what do all these abbreviations mean??? I am totally lost. I am starting to look into purchase a DVC on a resale I would love some pointers on how to get the best deal.

Welcome Christa!

We are thread-jumping here, so let me first apologize to the O.P.

Because you are not new to the DIS, I am sure you are familiar with the very clever use of abbreviations and acronyms here. For the DVC boards, the following link should help with the abbreviations and acronyms....

http://www.disboards.com/showthread.php?p=13729193#post13729193

Here's some quick starter info. At the top of this page, you willl find a link that says "DVC Resale Listings." This will give you an idea of what DVC contracts are priced at. There are, of course, a few other reputable DVC resellers that you can use. There are a few hard and fast rules as to why some contracts are priced the way they are that you should consider in your search....

**For the resorts that sell for a lower price per point, you will find that they are older resorts (thus having a shorter contract life such as Old Key West) or are priced lower due to being a much larger resort (thus having greater availability such as Saratoga Springs). Another reason for a resort having a lower price per point is that the maintenance fees are higher than other resorts (Vero Beach). It is not a good idea to buy a home resort that is cheaper with the forethought that you can book at any DVC resort. You will find 7,534,265 threads on the DVC boards about why you should buy a contract for the resort that you will want to stay at (or stay at the most) having to do with the advantage of booking at 11 month vs 7 months. I'll let you find those for yourself.

**For the contracts that sell for a lower price per point, be aware of "stripped" contracts. These contracts were purchased and the buyers already borrowed points from the forthcoming year, leaving you with no points to use in the immediate future. If you buy a stripped contract, you will have to wait a year or two to start using your points. This actually may be a good plan for you to get a cheaper contract if you don't plan on using your DVC points in the near future.

There are a bazillion other things I could explain, but you should just read through the threads and trust people here...they know what they are talking about. Because you mentioned resale, that is what I focused on here, but there is plenty more to be learned about the new DVC resorts, their current incentives, etc if you would consider buying at Animal Kingdom Villas, Bay Lake Tower and others. OH, one more thing. You will see the acronym "ROFR." This stands for Right of First Refusal and you will see this a lot on your journey through these boards. If you make an offer for ANY resale contract, it must be reviewed by Disney before it can be accepted. Disney may find that the price per point is too low and may opt to purchase this contract, leaving you with a rejected offer. They do this (I think) to protect the integrity of contract pricing. Also, Disney does direct sales for most (if not all) DVC resorts via waitlist and this is how they would fill those requests. So, Disney has the Right of First Refusal on any resold DVC contract. You will find a thread on these boards that has a running list of contract prices for specific resorts that passed ROFR or did not pass ROFR...very valuable info as you can use this to know what a reasonable offer would be.

Hope that helps,
Joe