What is ROFR ???

[Rascal1003]

I see that there is a really long thread about ROFR.
Can anyone explain it to me? I think I am right in saying the acronym means Right of First Refusal, but no idea how that applies to DVC.

 

[spiceycat]

when you are trying to sell your DVC points to a buyer.

first you must have a buyer.

then if Disney decides that the amount is too low they will buy it back.

say you are trying to sell 100 points at BWV and you get a buyer. He agrees to a price of $79 per point. then DVC must put their okay on this. They decided that the points are worth more. So they step in and buy the contract at $79 per point from you.

 

[rinkwide]

Yes, Right Of First Refusal (but I think it could also be a good name for a pet dog).