What is ROFR?

[tobidisney]

Could someone plese explain this to me. We would like to add on points to our contract, I believe this ROFR has something to do with it. I would like to go into this somewat educated...

Any advice, tips is greatly appreciated.

thanks

 

[DMKEDM]

ROFR is "right of first refusal"...it is Disney's right to buy any contract that is for sale at the terms agreed to between the buyer and seller...shouldn't impact at all on a decision to add on...

For example, w/ROFR, if I decide to sell my points, and you & I reach agreement on the terms (price, who pays MFs, closing costs, etc.), before I can sell it to you I have to submit the agreement to Disney...under their ROFR, they can buy it from me and thus prevent me from selling it to you. If they waive ROFR, then you can buy...if they exercise it, I have to sell to them, under the same terms as you & I agreed to...

Make sense?

 

[RobDoc]

ROFR will only affect resale purchases - if you are adding-on to an existing contract thru DVC, there is no ROFR.

As already explained, ROFR just gives Disney the opportunity to purchase a resale contract at the terms already agreed upon. The seller gets exactly what has already been agreed upon and the buyer would get a refund of downpayment made. DVC has up to 30 days to consider ROFR on a resale contract once the offer is submitted.

Enjoy!