Should I worry about ROFR?

[s830632]

I know this is probably a popular subject but I thought I'd ask because I'm going to be worried for the next three to four weeks. I put in a contract this weekend for AKV, 250 points, $69 a point. It was through the timeshare store. I think part of the reason it was cheaper is because there were 350 points that were in reservation status. I was just looking at the stats and I only saw one contract that made it through Disney's ROFR that was less than what I'm offering, in other posts I've seen where contracts of this amount were bought.

Should I worry? I just took what was listed, I didn't ask to have the price lowered. I guess I just assumed that the timeshare store wouldn't list a price that they thought would be refused.

What if Disney does exercise the ROFR, would the buyer get another opportunity to bid on a different contract without losing the extra perks that end today?

 

[s830632]

Sorry, I meant to say 350 points, not 250 points.

 

[DVCconvert]

I wouldn' t be worried. Basically everything is passing. This offer doesn't seem way out of line (like maybe a $12 perpoint would have been).

What if Disney does exercise the ROFR, would the buyer get another opportunity to bid on a different contract without losing the extra perks that end today?

No. If DVC takes a contract it's the end of that story, and if a contract that's submitted after today they will be restricted use points. While no one can say 100%, I seriously doubt you'll get rofr'd.

HTH

 

[DisDad07]

Don't worry about it. You can set back and wait for the ROFR to clear or you can drive yourself crazy. I am still waiting to see if I passed ROFR on an OKW 210 points at $52. you did the best you can do and now DVC has control. Nice price by the way. AK is my home resort and i think you will love it.

 

[dbs1228]

I think you will be fine! Just hope that they move your contract along so you are able to use the reservation status points for an awesome vacation!!!!!

 

[s830632]

Do you guys have experience with reservation status points? I was told that I can't use them for Disney vacation properties but I can use them for RTI, how difficult is that? I've looked at the properties and points needed, but I'm curious about how hard it is to book RTI vacations, is it hard to find availability?

 

[DVCconvert]

I think you mean RCI.

Reservation points can be used for any of the Disney hotels, the Concierge Collection, cruises, etc. The only thing they cannot be used for are staying at the DVC Resorts or the World Passport Collection. Reservation points must be used within the use year they are designated and may not be banked, borrowed or transferred

Others can speak to the easy of trading out, as I've never done that.

 

[s830632]

You're right, RCI, I just can't keep up with all these acronyms

 

[JWG]

You're right, RCI, I just can't keep up with all these acronyms

I think, and I've not used this option so I'm not a good source, if you trade points to RCI you get a good amount of time to use your trade. Something like 1-2 years. So, given DVC use year limitations, trading into RCI may buy you more time to figure out how to use those points. 160 is good for 1 week in a 1 BR, I don't know if that means a 2 BR is 320 and would be a good option for your 350 in reservation status.

There's options out there if you get the contract (and you probably will).

 

[JBx3]

I believe RCI 2 bdr's are 270 points in Red season anyway

 

[Buckeye Fan]

This is straight from DVCbyResale.com:

What does it mean when points are in "reservation status"?

When an owner makes a reservation outside the Disney Vacation Club Resorts (such as a cruise, or a stay at the Polynesian hotel), then cancels that reservation, DVC designates them as "reservation" points. Basically they have designated those points for usage outside the DVC resorts and they can't be "put back". Reservation points can be used for any of the Disney hotels, the Concierge Collection, cruises, etc. The only thing they cannot be used for are staying at the DVC Resorts or the World Passport Collection. Reservation points must be used within the use year they are designated and may not be banked, borrowed or transferred.

As for ROFR, wishing you the best of luck! The wait can be SOOOO stressful! It doesn't seem like anything is being bought back if the price is reasonable, so I think you'll be just fine!

 

[s830632]

Yeah, and I know I'm not going to deal with this well at all, I'm still waiting for Timeshare store to submit my contract, they said they'd do it this morning but I still haven't gotten the email and the clock is ticking, I guess we only have until 5 and I'm assuming that's 5pm EST, so three hours left and they still haven't submitted my contract! URGH!

Although I suppose I wouldn't be so stressed if it weren't for the fact that I had a deadline to meet.

 

[s830632]

Whoo hoo, I just got the email saying they submitted it for ROFR, so, I guess the 30 day count down starts today.

 

[dbs1228]

Whoo hoo, I just got the email saying they submitted it for ROFR, so, I guess the 30 day count down starts today.

The waiting has begun, congrats for getting it in under the wire!

 

[Sandisw]

Congratulations and good luck!!!!

 

[caifitas]

I also bought 350 points at $69 for akv and we sent our paperwork on sunday. I hope it also gets approved. Good luck. Let me know when you hear something.

 

[s830632]

Great, maybe the more of us at that price the better. I got nervous when I saw all the other bids that were passed, but I'm hoping the fact that my 11 points (I think that's right) are all in reservation status helps my case. I have no idea how I'm going to survive the next 29 days!