sob. Disney bought our option on the resale we wanted

[foofoo]

We're so disappointed! We knew it was a distinct possibility - we only bid about $63/point on BWV. How much do we really need to spend to get one? We're EXTREMELY flexible on the use year and when points are next available as we just got back fromOKW (rented points) and that's when we knew we could NEVER stay in a hotel again!!!

 

[dianeschlicht]

If you are looking for OKW, you should be successful eventually.
I would try in the 68-72 range.

 

[mydogdrew]

We just closed on a resale and I spoke to brokers and read many posts here. Including current year points I would expect the following minimums to get through ROFR (although UY may require higher in some cases).

VB $58
OKW $63
BWV/VWL $65
BCV $68?
HHI $65?

Size of the contract is also a factor. You obviously did a good job negotiating (a little too good). Why don't you contact the broker and up your offer a bit? The seller is not obligated to sell to disney - only at that price.

 

[zulaya]

I can't believe you are saying $63 at OKW will go through. Even with distressed contracts, the reports I have seen on the boards have been no less than $68.

 

[ClarabelleCow]

I think those numbers were from a year ago, I don't think I have seen much if anything go thru for less then 69 a point, except maybe at Vero.

 

[mydogdrew]

DocBrown closed 310 OKW for $60 (not sure about points available)
RLAlden closed 300 OKW for $65 (with all points available)

These were posted here very recently - $63 will likely pass ROFR at OKW. My broker indicated same and said Disney did not take any of her resales over the past 2 months. Obviously, they will still take the right contract but it appears to be the exception now.

 

[joepoe]

I tend to question this statement, no offense. Maybe if no points available for this year and next, but with current year intact, I thought DVC would snap it up.

NOW that I think about it, maybe they have so much inventory to sell, they have dropped the "floor"!

 

[JessetheCowgirl]

I really focus on the number of banked points and current points on resales more so than price. If you don't plan to travel in the upcoming year, you can rent those points at at least $9 per point, usually $10.

Example: I was looking at an OKW resale, 210 points priced at $70 per point = $14700. However, there were 100 banked points and full 210 for 2003 came in Oct for a total of 310 points. If you rented those at $10 per point, you can subtract the $3100 from the price which would equal $11,600 or $55 per point!!!

Some DVC'ers would NEVER want to rent out the points, but I see this as no different than the Magical Beginnings offer through Disney at a much better deal. And if you have taken a very recent trip, as we have, you may be able to tolerate waiting a year until your next trip.

And it seems that lately the price per point holds more weight with passing ROFR than the banked/borrowed points.

At the other extreme, I've seen many resale listings at $69 per point with no points available until late 2005. You could end up paying more than you would pay Disney if you went that route.

 

[JessetheCowgirl]

Forgot to add in closing cost of around $650, but that would still be at $58 per point.

Woo hoo! Now, to convince DH what a "bargain" this is

 

[KANSAS]

I am extremely confused. I thought disney had eased up on RORF and was letting points, go for less, because they have alot of SSR&S inventory now?

am I incorrect??

 

[disneyberry]

Originally posted by KANSAS
I am extremely confused. I thought disney had eased up on RORF and was letting points, go for less, because they have alot of SSR&S inventory now?

am I incorrect??

yeah sure, maybe they have eased up on ROFR...
but i would never imagine they would pass up such a good deal as buying back BWV points for only $63/point!!
i'm sure there are still plenty of people on waitlists to add-on at BWV... and DVC can turn around and sell those points at $84/pt. a very easy $11/pt profit.

 

[docbrown]

"Example: I was looking at an OKW resale, 210 points priced at $70 per point = $14700. However, there were 100 banked points and full 210 for 2003 came in Oct for a total of 310 points. If you rented those at $10 per point, you can subtract the $3100 from the price which would equal $11,600 or $55 per point!!!"

WOW!!! We closed 310 OKW at $60 a point, with the closing cost it came out
to $62, but if we count the 310 points for 2003 at $10 a point it makes it $52!!!!
We did get a great deal!!!!

 

[KANSAS]

disneyberry

I was referring the rofr numbers posted by mydogdrew.
I thought that those numbers, were no longer valid, because disney had eased up on rofr, because of much inventory with SSRS.

Do you feel those numbers, are correct, or a little high, now that SSR&S isopen

 

[KANSAS]

docbrown

are you stating that disney rofr is now at $60 per point on Old Key west??

 

[docbrown]

I am no expert to state anything.
i just passed along what happened to us.
The $60 per point was the request of the seller, we didn't counter offer less fearing to trigger ROFR below that....in retrospect
we could have offered $58 or $59 and counter offer up if Disney stepped in.
But we were just happy to have found such a good deal to begin with.
We had just come back from WDW where we had done the paper work for 300 SSR
at $79 per point, so can you see how happy we were to find 310 OKW for $60 with all 2003 points still there?

 

[disneyberry]

KANSAS... honestly, i don't feel that i can form any opinions on whether or not the figures listed are too high or too low. they are just numbers that mydogdrew's broker mentioned.
without any details about Use Year, banked/current/borrowed/stripped points status, etc. there's no way to analyze the situation. we don't know if these numbers are the lowest contracts that went through, or if they're the average price of contracts that went through, etc.
we also have no idea how many people were on the waitlists to add-on directly w/ Disney at BWV, OKW, etc. at the time that the committee reviewed each resale.

without any of that data, ROFR is such a random, arbitrary thing to us...
i wouldn't be surprised if the review committee doesn't just goof off and flip some coins to make a decision about whether they buy back or not.
ok i'm kidding (half).


but what i meant before was that even if you hear people say that "Disney has eased up on ROFR", that doesn't mean that ROFR has disappeared completely!

of course DVC will still want to buy back some good deals (and $63/pt at BWV was obviously way too good a deal to pass up) to discourage people from buying resale. Disney wants people to buy SSR from them. and Disney wants people to waitlist with them and buy OKW, BWV, VWL, or BCV directly at full price from them.

when people hear about docbrown's deal for example, (congrats, docbrown! you are so lucky!), they will think... oh forget SSR, let me go buy an OKW resale. now i think Disney definitely doesn't want that!

 

[mnmom22]

I closed in 1/03 on 240 points at OKW with 60 points available from 2002 and 200 points banked from 2002 and all current points and I paid $62/point. I didn't realize until this thread what a great deal I got!!!! Now, if I could just learn how to plan ahead and get better use of the points, I'd be really happy. All my trips seem to be last minute.

 

[KANSAS]

for those of you that got banked and current year pionts
did you reimburse the buyer for annual dues already paid??

 

[Desperado]

I know it is dissapointing when a very low offer doesn't go through and the bargain you hoped for didn't happen.

Take some heart though that when you do purchase, the ROFR does help protect the value of your vacation investment should you ever need to sell in the future and also provides curent owners with some availability to add additional point even though a resort is sold out.

I'm glad ROFR exists, it benefits current members.

 

[ClarabelleCow]

KANSAS - I bought back in October of 2002, didn't close until January, would have been later December, but because of some accounting issues with MS and their computers, I didn't close until about January 6. I purchased 196 VWL with 138 banked points, they were asking 68 per point, I offered 64 per point. I was going to negotiate regarding the dues on the 138, but the seller already paid them and never asked for the money back!!! So I didn't bring it up!!! Closing costs were about 450.00 and the seller paid the 75 tranfer fee. It took awhile, mostly because the seller was in Europe. If I were to buy more, I wouldn't hesitate to go this route again. It works out to be 66.30 per point, plus a bonus of the 138 points the first year!! Still a pretty good price