ROFR Thread Oct to Dec 2021 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[perchy]

CaptainAmerica---$129-$21162-160-AKV-Feb-0/20, 138/21, 160/22- sent 10/4, taken 11/11

Pour one out for ya boy Cap.

Aw, sorry Cap. On to the next!

 

[Sandisw]

But, if for some reason Disney doesn’t respond by closing day, and they aren’t exercising ROFR that would still delay closing. The way I see it both the seller and broker have no incentive to put pressure on Disney, though I would think the seller would much rather have their money in 5-6 weeks over 10.

Except, from the seller's standpoint, if that closing day passes, a buyer can cancel the deal. So, there needs to be a happy medium. But, everyone going in to a resale deal knows about ROFR and IMO, should expect it to take 3 months from offer to closing. And, to be honest, prior to the pandemic, things moved along pretty well. The delays of the last 15 months really are related to what has occurred and loss of staffing, and slow to get it back.

As noted, as someone who has sold, I would not agree to a closing date at day 31. The soonest I would want it is 45 days out to allow time to get the papers notarized. I know I mention it a lot but there was a time when it took us about a week or so to get to the bank due to work schedules that could not be changed. Of course, we have always tried to get them done and back as quick as possible and this summer, did it in 24 hours.

 

[rubybutt]

Good luck! Highest they've taken all year is 138 so...

highest i've seen is 130 and that was in the past week. Before this month it was 127. And before this month only about 10 were taken in the 120s. This is for AKV.

 

[BamaGuy44]

highest i've seen is 130 and that was in the past week. Before this month it was 127. And before this month only about 10 were taken in the 120s. This is for AKV.

They took at least 1 in Aug at 132. Highest in September was 138, October also 138.

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-october-21/

 

[Sandisw]

They took at least 1 in Aug at 132. Highest in September was 138, October also 138.

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-october-21/

To clarify, this is just one brokers data. We have no idea whether or not something at a higher level was taken that was sold through a different company

 

[BamaGuy44]

To clarify, this is just one brokers data. We have no idea whether or not something at a higher level was taken that was sold through a different company

True enough. Definitely not the whole picture, but shows they have taken at least some at a given level.

 

[rubybutt]

They took at least 1 in Aug at 132. Highest in September was 138, October also 138.

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-october-21/

Well.... this makes me question everything. The data set I use doesn't have this on it. When I have time I will try to track down one of these, but it will be difficult because number of points is unknown....

 

[rubybutt]

Well.... this is going to take a long time I think. But I did find one interesting thing. A popular rental store/resale market place has been very active this year buying and selling contracts this year. It makes me think that this place is buying stripping and then selling the contracts. This has been discussed as a possibility in the past, but I think it is almost a certainty now.

 

[JETSDAD]

Well.... this is going to take a long time I think. But I did find one interesting thing. A popular rental store/resale market place has been very active this year buying and selling contracts this year. It makes me think that this place is buying stripping and then selling the contracts. This has been discussed as a possibility in the past, but I think it is almost a certainty now.

There are a few employees from within a group of DVC companies that do this regularly with foreclosure sales.

 

[rubybutt]

There are a few employees from within a group of DVC companies that do this regularly with foreclosure listings.

I take that back. They do look to be foreclosures. I found where to look.

 

[Ginamarie]

I take that back. They do look to be foreclosures. I found where to look.

Mostly foreclosures but yes- one resale site in particular does this. Actually they’re doing it less often than they did several months ago, but it’s still happening regularly.

 

[CaptainAmerica]

Mostly foreclosures but yes- one resale site in particular does this. Actually they’re doing it less often than they did several months ago, but it’s still happening regularly.

Is that when there were like ten IDENTICAL AKV December UY 160 point 100% stripped contracts?

 

[Ginamarie]

Is that when there were like ten IDENTICAL AKV December UY 160 point 100% stripped contracts?

And then none of the totally stripped contracts were selling near the listing prices so they had to readjust and reduce all the pricing. I’ve seen a lot fewer of those total stripped contracts since the week of the price reductions.

 

[Flynn's Gal]

True, but then you look at the added costs of closing resale, the fact that you still need to wait for ROFR, and then all of the time waiting for closing and provisioning of points, and the "benefits" of resale do dwindle somewhat. Right now, those AKV 50-pointers seem to be hovering right at $160 PP, but trending upwards. Using your $170 PP scenario, the 50 points will cost you $8,500. Direct are going for $186 PP, or $9,300. So, by going resale you're saving $16 PP, or $800. Factor in reduced closing costs, and you might be down closer to $500. That is getting super close to the value that I personally place on the extra time and hassle of dealing with resale.

When you lay it out that way, buying direct becomes a better option, especially if you consider those points will have no restrictions.

 

[CaptainAmerica]

When you lay it out that way, buying direct becomes a better option, especially if you consider those points will have no restrictions.

I hate Riviera and I don't expect Disneyland to ever be available at 7 months, so restrictions are at least 5 years away from being meaningful to me.

 

[shannon006]

Shannon006---$140-$24280-160-AKV-Sep-63/20, 86/21, 160/22, 160/23- sent 10/25, passed 11/11

 

[CaptainAmerica]

Shannon006---$140-$24280-160-AKV-Sep-63/20, 86/21, 160/22, 160/23- sent 10/25, passed 11/11

 

[DKZB]

When you transfer title and ownership of real estate in Florida, you sign a deed conveying or transferring the property to the new owner. All deeds executed in Florida must be signed in the presence of a notary public and two witnesses.

That is only the seller docs. The last 2 contracts I bought, my buyer docs were DocuSign. I actually closed on an SSR today.

 

[ScubaTime]

ScubaTime---$168-$44891-250-PVB-Apr-0/20, 227/21, 477/22, 250/23-seller pays MF '21- sent 11/12

 

[jberndt10]

Jberndt10---$135-$25809-175-AKV-Dec-0/20, 95/21, 175/22, 175/23- sent 11/11
Will it be third times the charm or 3 strikes and you’re out?