ROFR Thread April to June 2021 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[lovethesun12]

That's a thought that has been going on for years and years. And if everyone follows that suit then ROFR goes higher and contracts start getting taken and so on. It certainly depends on your reason for resale but paying more than might be necessary, in general, isn't usually why people are purchasing that way. Sellers and brokers would both like this course of action though. Regarding those who say they wish they had paid a few dollars more the thing is that you just never know what that threshold was for the contract. Yes, a few dollars more might have gotten it but it may not have depending on what DVC was looking for. So, it doesn't change my view to negotiate as best you can and see what happens.

Agree. Some of us just aren't that desperate. I enjoy looking and would be happy with a contract but I've also had two taken and just think oh well. If I get a contract to pass at a low price, great! If it doesn't pass, I still have $20,000 in my account and a huge selection of hotels for a cash stay, lol. Most contracts I'm seeing that I like aren't just selling for a high price - they're also stripped which is really unappealing, especially considering you can only borrow 50% of the next years points right now.

 

[rawisericho]

That’s really misguided though. There is no way DVC is going the extension route again.

Why do you say that?

 

[michael730]

That’s really misguided though. There is no way DVC is going the extension route again.

Nobody truly knows what they won’t or will do.. You think that they would let every single one of the 2042 the resorts completely expire and then what, put them all on sale again? It takes years for them to completely sell out a new resort, they wouldn’t have that many dvc resorts competing against each other.. They would also for that period of time have zero dues coming in for those resorts from membership. I’m not saying they’re definitely going to offer the extensions but it’s not out of the question.

 

[HIRyeDVC]

Nobody truly knows what they won’t or will do.. You think that they would let every single one of the 2042 the resorts completely expire and then what, put them all on sale again? It takes years for them to completely sell out a new resort, they wouldn’t have that many dvc resorts competing against each other.. They would also for that period of time have zero dues coming in for those resorts from membership. I’m not saying they’re definitely going to offer the extensions but it’s not out of the question.

I don’t think people at Disney even knows what they’re planning to yet. It’s too far from now

 

[michael730]

I don’t think people at Disney even knows what they’re planning to yet. It’s too far from now

Exactly! I’m just saying it is definitely possible but would most likely happen much, much closer to the expiration date.

 

[HIRyeDVC]

Exactly! I’m just saying it is definitely possible but would most likely happen much, much closer to the expiration date.

It’s hard to imagine Disney allowing these 2042 properties to expire. With a good refurb, they could extend their life for a good 15-20 years. Shoots. Perhaps I SHOULD buy me some Boardwalk at $140pp now since they may be $200pp when Disney announces the extension!

 

[ILoveMyDVC]

What gives? Not one person passed or was taken today?

I am very worried - someone else passed at the exact PPT as mine with almost the same points a few days earlier. I called my title company, they put me on hold, and they said it looks like Disney is going to take the full 30 days. I think they are rethinking their strategy. Also, I am angry that my resale company held the contract (because that's when admin staff work) over a weekend plus a day or it would have been through the same time as the other DIS member. I could lose it just for those days.

And who know how tight the relatationship really is between the resalers and Disney. The only losers are the buyers.

 

[Ginamarie]

Why do you say that?

Legally it’s a nightmare. Financially it’s a nightmare. They didn’t realize how bad of a nightmare until they tried this with OKW. Now they’re stuck with a hybrid of a resort with two different expiration dates. The 2042-2057 period at OKW is going to be an interesting one to say the least.
An extension of 15 or 20 years doesn’t help them that much either. It postpones the inevitable.
Unfortunately, the off property resorts (HHI/VB) will likely be sold off. That’s instant capital and they won’t need to spend money on renovations there. OKW won’t see a major overhaul until after 2042 because of the extension.
So you’re looking at BRV, BWV, BCV.. all prime locations and not the massive resorts you have at SSR or Kidani. They’re going to want to restructure the charts and convert these properties to DVC2 (Riviera and future resorts) or maybe even DVC3 at that point as they’ll have moved onto another whole phase. Yes, it will cost renovation money, but no more than it would starting from scratch, and they will sell at far higher prices.

 

[Paul Stupin]

And that gets down to a persons underlying reason for resale and tolerance of it. Those digging for and seeking out the low prices are probably going to know what they are going for and feel the reward of a low price outweighs the risk of ROFR. Sometimes you can get caught on a buying binge of DVC but you won't know that until it starts and even those don't go on forever and the resort of choice will shift. My main point is you never will figure out what DVC is going to do with ROFR even if you think you have or can. Even my recommendation to negotiate as you best you can might mean you're paying more per point for a particular contract that just works if you feel comfortable with that but to think that offering more than asking is the direction is not something I'd recommend. It artificially inflates things even more than ROFR already does.

Agreed, I wouldn’t ever offer more than asking. And I also agree that there are definitely experienced buyers out there with an effective strategy of seeking out lower priced contracts, fully aware of the ROFR risks, and a willingness to move on to another offer if the ROFR snake bites. But that takes a great deal of patience and time, possibly months and months...a process even more difficult with limited availability.
I’m not sure if the savings is worth the time and effort.

 

[Ginamarie]

Nobody truly knows what they won’t or will do.. You think that they would let every single one of the 2042 the resorts completely expire and then what, put them all on sale again? It takes years for them to completely sell out a new resort, they wouldn’t have that many dvc resorts competing against each other.. They would also for that period of time have zero dues coming in for those resorts from membership. I’m not saying they’re definitely going to offer the extensions but it’s not out of the question.

Like I said- VB and HHI are likely sold off and they get instant capital for that. OKW has a reprieve because of the extension.
You have three relatively small resorts to turn over- they’ll sell those in place of building a whole new resort during that time period.

 

[lovethesun12]

But that takes a great deal of patience and time, possibly months and months...a process even more difficult with limited availability.
I’m not sure if the savings is worth the time snd effort.

Some of us aren't really planning vacations in the immediate future anymore and have a lot of time on our hands .

 

[michael730]

Legally it’s a nightmare. Financially it’s a nightmare. They didn’t realize how bad of a nightmare until they tried this with OKW. Now they’re stuck with a hybrid of a resort with two different expiration dates. The 2042-2057 period at OKW is going to be an interesting one to say the least.
An extension of 15 or 20 years doesn’t help them that much either. It postpones the inevitable.
Unfortunately, the off property resorts (HHI/VB) will likely be sold off. That’s instant capital and they won’t need to spend money on renovations there. OKW won’t see a major overhaul until after 2042 because of the extension.
So you’re looking at BRV, BWV, BCV.. all prime locations and not the massive resorts you have at SSR or Kidani. They’re going to want to restructure the charts and convert these properties to DVC2 (Riviera and future resorts) or maybe even DVC3 at that point as they’ll have moved onto another whole phase. Yes, it will cost renovation money, but no more than it would starting from scratch, and they will sell at far higher prices.

The only reason it didn’t work out w OKW is because they did it when the resort had a very long time left on the contract. If they do offer an extension it’ll most certainly be within 10 years of when they are to expire. Although you make good points neither of us know for sure what will happen. They could do what you said or they could offer extensions so nobody really knows. I couldn’t care less if they do extensions or not I would’ve bought into BWV either way.

 

[ScubaCat]

I propose we get back to the contracts and discuss these other topics in one of the many (MANY) other threads dedicated to them!

 

[michael730]

I propose we get back to the contracts and discuss these other topics in one of the many (MANY) other threads dedicated to them!

I agree <3

 

[HIRyeDVC]

I propose we get back to the contracts and discuss these other topics in one of the many (MANY) other threads dedicated to them!

I agree too. I think its just a reflection of people having nothing else to talk about since no one is hearing anything about ROFR decisions lately.....

 

[Bjaiken77]

The only reason it didn’t work out w OKW is because they did it when the resort had a very long time left on the contract. If they do offer an extension it’ll most certainly be within 10 years of when they are to expire. Although you make good points neither of us know for sure what will happen. They could do what you said or they could offer extensions so nobody really knows. I couldn’t care less if they do extensions or not I would’ve bought into BWV either way.

I wish they’d make a statement on 2042 resorts, but that’s just because that’s what I want. People have made strong arguments why they don’t. However, based on my age and length of time I anticipate wanting to be in DVC, it’s kept me away from 2042 resorts. I’d really love to own at BCV, too. However, I just can’t justify it myself. Not when there are other great properties that I like.

 

[lovethesun12]

I agree too. I think its just a reflection of people having nothing else to talk about since no one is hearing anything about ROFR decisions lately.....

And nothing left to buy .... trying to find a contract now is like trying to scrape the last bit of peanut butter out of the jar

 

[BayGirl22]

Just heard today.... so Disney is taking their time but they are doing something. Was not worried about them taking Aulani, but at least now we can move on.

BayGirl22---$124-$22110-160-AUL-Oct-0/20, 320/21, 160/22- sent 4/5, passed 4/30

 

[Max Jolicoeur]

max jolicoeur---$127-$3775-25-OKW-Jun-0/19, 0/20, 25/21, 25/22- sent 3/12, passed 4/30 Took long enough! The seller had a reservation but didn't tell anyone so on day 17 of ROFR, Disney sent the contract back. This is my second contract and on both occasions, the sellers had reservations and didn't disclose it. It's quite fustrating. Now I have to wait until July and October to close both of them...

 

[HIRyeDVC]

max jolicoeur---$127-$3775-25-OKW-Jun-0/19, 0/20, 25/21, 25/22- sent 3/12, passed 4/30 Took long enough! The seller had a reservation but didn't tell anyone so on day 17 of ROFR, Disney sent the contract back. This is my second contract and on both occasions, the sellers had reservations and didn't disclose it. It's quite fustrating. Now I have to wait until July and October to close both of them...

Hmm, interesting. I didn’t know that Disney sends contracts back to the broker if there is an existing reservation. My broker told me that Disney just cancels any existing reservations during the closing process, after ROFR.