What is ROFR?

[reggiemcp]

Hi

Hate to sound ignorant, but what is ROFR? Hubby and I are just starting to do our research about purchasing and have been reading the boards, but have no clue what that means. Can someone enlighten me? Thanks.

 

[dianeschlicht]

When someone sells their DVC membership either themselves or through a reseller, Disney retains the right of first refusal. So it stands for Right Of First Refusal.

 

[CarolMN]

Right of First Refusal. Disney has reserved the right to buy back any DVC contract that is offered for sale by substituting itself for the buyer (same terms and conditions). What that means is that anyone who wants to buy a resale contract must wait until Disney decides if it will buy the contract instead (Disney has 30 days to decide, but doesn't always take that long).

Best wishes -

 

[greenban]

And all this time I thought it was a dog with hiccups!

ROF.....er, ROF.....er.....

-Tony

ROFR, a right of passage, kinda like acne, yes both can leave scars, but overall acne is more fun!

 

[psu4glory]

right.....in fact, we are wrapping up the purchase of a resale contract at BWV, and our ROFR process only took 13 days.....

we submitted the contract to disney on 12/28/05
we found out that they passed on their right to purchase on 1/10/06

good luck on your research! i'm betting you'll be DVC'ers sooner than later!!