What is ROFR?

[pbharris4]

Ok dummy me doesn't know what this is and what it means? Can someone enlighten me? Thanks!

 

[dianeschlicht]

Right Of First Refusal. That's what Disney has when someone sells their points. If Disney excersises their ROFR, they buy it back before the buyer gets to.

 

[CarolMN]

Right of First Refusal

Disney has the right to buy any DVC contract that is offered for sale for the same terms as the prospective buyer. If you are selling your contract, you must submit the offer to Disney to see if it wants the contract before you are allowed to close the deal with someone else.

Best wishes -

 

[pbharris4]

Right after I posted this I figured it out. Thanks for replying, though! Why would they buy them back? I guess to just rent out the rooms for awhile and resell them at a higher rate later?

 

[dianeschlicht]

They buy them back to sell to members wanting add-on points at sold out resorts.

 

[pbharris4]

I see....like BCV. I've read they're on a wait list for add ons. My home resort is BCV..why is it so sought after compared to the others? The pool?