Thinking about adding on. Have questions about Right of First Refusal and others

[jwmccullough]

Greetings Friends!
This board is fast becoming my favorite place to hang out.
Currently my wife and I are thinking about buying more points through resale. The one we currently have eyed is at Hilton Head and we currently own at Beach Club. My first questions refer to to Disney Right of First Refusal:

1. How long does it currently/usually take for them to respond to this?

2. Because this is Hilton Head and there seem to be a lot of these up for grabs, do they have different standards that they will or will not let pass? or has anyone heard of a set standard that says if resales go for, say, <$70/point that they will automaticly reject it?

I would like to have the extra points because we, like most of you, would like to be able to spend more time down there. I have watched the videos and all of the resorts look awesome ( I am planning a day to just go check out the other resorts on my next trip home), and I don't think that i am going to be disappointed to stay at the other resorts, at least until I get a chance to stay at them all. That in mind, Hilton Head is rather attractive with the lower initial cost and lower annual dues, but I am a bit hesitant to roughly double my points if I am not going to be able to use them myself, or for family/friends/ etc.

So my next question is:
3. With points that I am not able to somehow use, and I decide to rent them out, will I have any disadvantage renting them out to folks going to WDW?

4. Also, any other input is greatly appreciated.

Thank you for taking the time to read and respond to this in advance!

Jess

 

[RobDoc]

HH is a great resort and you'll usually need to own there to dependably get summer reservations.

Disney has 30 days- after the offer has been submitted to them- to exercise the right-of-refusal. There has been no concensus of what DVC will exercise ROFR for any of the resorts. It may depend on the details of the purchase and whether any existing member is looking for an add-on at that time.

If you decide to rent your HH points- just as for all DVC resorts- you'll have the 11 month priority only at HH but will be able to reserve at other resorts 7 months ahead.

Good luck with your decision.

 

[Forever a Princess]

Hi, We are currently trying to buy into DVC by resale.

I was speaking to Shontell through dvcbyresale on Wednesday. She said that Disney has up to 30 days to make up their mind. Per Shontell the recent average time is 2 weeks.

Would like to hear from those who have recently purchased by resale and how long it took Disney to do ROFS.

 

[parrotheadlois]

We just recently made our first 2 DVC points purchases, through resale. I'd say the first offer was made and accepted the last week in November, we've already been through ROFR and our closing is scheduled for on or about Jan. 10th.

The second was around Dec. 8 (offer made and accepted), received notice that ROFR was passed on Friday, that closing is scheduled for on or about Jan. 27th.

Both were 100 point purchases at BCV. First was at $72/pt., Sept. UY (all 100 will be ours to use Sept. 2004), second at $68/pt.,April UY, but only 36 pts. coming April 2004 because seller had borrowed points.
Hope this helps.

 

[Cruelladeville]

In answer to your question about renting, it is easy, but takes a fair amount of your time to do it well. You probably won't have many points to rent, which is a disadvantage, but I have seen people rent out as few as 8 points. Generally, when you rent points, you make the ressies for those who are renting from you. You just make the ressies in the renter's name instead of your own. You could rent out all 200 points in about a week, providing the reservations can be made (Easter, for example, would not be do-able at this point).

If you are planning to buy HH, I would think that a lower price could get by Disney, since HH once sold their points for $60 each to entice buyers. In other words, HH doesn't have the same attraction for buyers that the on-site resorts do, and there probably isn't much of a waitlist for points. That is the reason that Disney may or may not exercise their ROFR--how many people are waiting for points at that resort.