**ROFR Thread 2014 JULY-DEC** Please read 1st post for instructions

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This is crap. 30 days is not a guideline. In the original purchase agreement between the now seller and Disney it states 30 days. Contracts aren't guidelines or suggestion they are legal binding agreements that apply to both parties and it states Disney has 30 days. It doesn't say Disney has however long they want. If anyone would ever challenge Disney you'd win, but no broker will dare do it.

Agree. Per the membership POS guidelines, DVC has thirty days to exercise ROFR after they were notified of contract sale terms. If the broker has verification of the date DVC received your contract for review, and it was over thirty days ago, legally you can close now.

Also agree that the broker and closing agency may choose to not proceed anyway, for fear of angering the mouse. What's legal and what's their policy may not be the same thing, unfortunately for you.

Disclaimer- I'm not an attorney. This is just my reading of the POS.
 
This is crap. 30 days is not a guideline. In the original purchase agreement between the now seller and Disney it states 30 days. Contracts aren't guidelines or suggestion they are legal binding agreements that apply to both parties and it states Disney has 30 days. It doesn't say Disney has however long they want. If anyone would ever challenge Disney you'd win, but no broker will dare do it.

I see you sensed my sarcasm on the "suggestion" portion. We totally agree. I feel that contract should be ours. I am sure the seller wants to get it done with too. I know the agents work on behalf of the interests of both parties.....but really. Pretty frustrating when the communication is "we'll call you when we hear something" and I am the one to make all those calls. I called back after 4 days of not hearing (35 days in ROFR at this point) from and no one knew what was going on other than the holiday/computer excuse. Then we are told they looked in the admin notes and discovered that Disney forgot to look at it. Why no call immediately upon notification of this error??? This is the most frustrating part to me.

I apologize I didn't provide this info as requested in the beginning:

$95-$5,081-50-BWV-Sept-50/'13 (banked), 50/'14, 50/'15, 50/'16-sent 11/22, waiting.
 
I see you sensed my sarcasm on the "suggestion" portion. We totally agree. I feel that contract should be ours. I am sure the seller wants to get it done with too. I know the agents work on behalf of the interests of both parties.....but really. Pretty frustrating when the communication is "we'll call you when we hear something" and I am the one to make all those calls. I called back after 4 days of not hearing (35 days in ROFR at this point) from and no one knew what was going on other than the holiday/computer excuse. Then we are told they looked in the admin notes and discovered that Disney forgot to look at it. Why no call immediately upon notification of this error??? This is the most frustrating part to me.

I apologize I didn't provide this info as requested in the beginning:

$95-$5,081-50-BWV-Sept-50/'13 (banked), 50/'14, 50/'15, 50/'16-sent 11/22, waiting.


My feeling is the broker dropped the ball on this one, and is just blaming Disney to get themselves out of some hot water. I mean, how would you even check into it, besides trusting the broker. I suppose you could give a call the closing company to check into it .
Not sure who your closing co. is, but if its Magic Vacation Title .........Nancy is great to deal with. I actually did the closing paperwork on my last deal in the office personally with Magic because I happened to be in Orlando at the time. Nancy notarized and witnessed my paperwork personally :thumbsup2 .
The closing company pretty much has the whole deal on its shoulders now, as once the "deal" is done and original contract is returned by the seller and buyer ........the broker has really nothing else to do .........its all the closing co. at this point.

BTW, Disney has to give ROFR decision within 30 days of the estimated closing date .........its just not an arbitrary "30 days" when they get the paperwork to look over. Most brokers schedule the closing date approx 45-60 days from original contract to force Disneys hand on the ROFR decision . They pretty much make it so Disney has to give decision in approx 30 days. It could take a few more or less days though. I have had one go 32 days already.
There is also an estoppel due from Disney after the ROFR waiver , so even if a closing co. wanted to push the closing without getting the official waiver from Disney (if its over 30 days) , they would likely have problems getting the estoppel smoothly from Disney .

Buying resale is a true test of patience !
But its worth the approx 50% savings over retail ! ;)
 
This is our first one and we're so excited! Hoping this contract goes through because we really want to be close to Food&Wine...fingers crossed that the Mouse doesn't exercise his ROFR.

BeachClub7 ---$91-$31,850-350-BCV-Aug-350/'14, 350/'15, 350/'16- sent 1/2
Entered your contract on the 2015 Jan-Jun thread. :thumbsup2



Passed ROFR 12/29!

$88-$4,400-50-AKV-Mar- 0/'15, 50/'16-sent 12/5.
Welcome Home!!!



ScottJayhawk---$68-$10,200-150-SSR-Aug-0/'13, 150/'14, 150/'15, 150/'16-sent 12/01 passed 1/2/15
Welcome Home!!!



broberts---$76-$12,160-160-SSR-Aug-160/'14, 160/'15, 160/'16-sent 12/5 - taken 1/2
That really stinks. :mad:
 
Since I was buying in this time frame I was keeping close track of the sales over the course of the six months. After entering in all of the ending numbers into my spreadsheet, I thought I'd share some of the data.

1. It has been said and the past 6 months bears it out that the number of points on the contract rarely affects the sale price of the contract. Stripped contracts go for about the same as a loaded one. Next time I do this, I'm going to hold out for a loaded contract. For sellers, it seems to be good financial sense to rent out the points on a contract before selling it to maximize the profit from the sale.
2. Also nothing new to the experienced the smaller contracts tend to sell for higher prices. But that is only for the very small contracts (25-80 pts) After that point the prices come up to the average. Large contracts sell cheaper, but not always.
3. Here are some of the averages that I found:
AKV: $76.01 pp
BCV: $90.48 pp
BLT: $95.84 pp
BWV: $78.83 pp
HHI: really not enough data
OKW: $66.59 pp
SSR: $73.28 pp
VB: really not enough data
VGC: $115.64
VWL: $77.56
AUL: really not enough data
 
Just an update to tell everyone of my timing:

$80-$5,370-60-VWL-Aug-33/'15, 60/'16-sent 11/3-passed 11/18

Docs received from title company (***) on 12/9/2014.
Title company forwarded copy of new deed to DVC on 12/16/2014.
Letter from DVC with membership number was sent on 12/30/2014.

I had kept checking my account for the points up to 12/27, at which point I went on vacation. When I got back yesterday I noticed the letter from DVC and verified that my points had been added to my existing account.
 
Just found out Disney waived their ROFR and I'm a new owner. :D

smplyswt0712 ---$82-$2,460-30-SSR-Apr-0/'14, 0/'15, 30/'16, -sent 12/9, passed 1/5
 
Congrats to the two previous posters that just past ROFR-our's was supposedly submitted to Disney on 12/12 too so hopefully we will hear one way or the other in the next day or so. Unfortunately it is a BWV contract and I know they have a waiting list to buy direct there so I guess we will see.....esp if they are raising the price this week!!!
 
Woohoo we passed!!

$94-$6404-60-BWV-APR-60/'14 (must be used by 3/31), 60/'15, 60/'16
Sent 12/12 passed 1/6
not quite as cheap as some of the other recent resales posted but small BWV contracts seem to go quickly especially when they aren't stripped of 2015 points since we need those for our next trip :)
 
Woohoo we passed!!

$94-$6404-60-BWV-APR-60/'14 (must be used by 3/31), 60/'15, 60/'16
Sent 12/12 passed 1/6
not quite as cheap as some of the other recent resales posted but small BWV contracts seem to go quickly especially when they aren't stripped of 2015 points since we need those for our next trip :)

Glad to see yours went through. We just had an offer accepted for 25 points at $100. Yes, we may have slightly overpaid, but it is our use year, the exact number of points we wanted, and it is not stripped. Worth a few hundred bucks to us to be done looking.
 
My feeling is the broker dropped the ball on this one, and is just blaming Disney to get themselves out of some hot water. I mean, how would you even check into it, besides trusting the broker. I suppose you could give a call the closing company to check into it .
Not sure who your closing co. is, but if its Magic Vacation Title .........Nancy is great to deal with. I actually did the closing paperwork on my last deal in the office personally with Magic because I happened to be in Orlando at the time. Nancy notarized and witnessed my paperwork personally :thumbsup2 .
The closing company pretty much has the whole deal on its shoulders now, as once the "deal" is done and original contract is returned by the seller and buyer ........the broker has really nothing else to do .........its all the closing co. at this point.

BTW, Disney has to give ROFR decision within 30 days of the estimated closing date .........its just not an arbitrary "30 days" when they get the paperwork to look over. Most brokers schedule the closing date approx 45-60 days from original contract to force Disneys hand on the ROFR decision . They pretty much make it so Disney has to give decision in approx 30 days. It could take a few more or less days though. I have had one go 32 days already.
There is also an estoppel due from Disney after the ROFR waiver , so even if a closing co. wanted to push the closing without getting the official waiver from Disney (if its over 30 days) , they would likely have problems getting the estoppel smoothly from Disney .

Buying resale is a true test of patience !
But its worth the approx 50% savings over retail ! ;)

Received a call from our agent on Jan. 5 saying that they got an email stating Disney was processing the waiver that day and the agent would confirm it on Jan 7 when they returned to the office. Got a call on Jan. 7 now saying that Disney was not processing it and that they would have information on the waiver Jan. 23. The original contract stated the closing date would be on or before Jan 15, 2015. This will make it 61 days from the time we were notified via email that the contract was originally sent to Disney for ROFR. The agent told me that the contract was sent twice due to an error that Disney thought they found but was indeed not an error. Apparently the admin assistant supposedly cleared that up. Who knows when this is an there really hasn't been a solid explanation to all of this other than Disney just had an oversight and forgot to look at it. So again why even have the 30 days timeframe? Seems as if it doesn't really apply. Where can you go for the real answers? Oh well.....we'll just wait and see if they can make up their mind.
 
Just found out Disney waived their ROFR and I'm a new owner. :D

smplyswt0712 ---$82-$2,460-30-SSR-Apr-0/'14, 0/'15, 30/'16, -sent 12/9, passed 1/5
Welcome Home

I've added your contract to the 2015 list too

http://www.disboards.com/showthread.php?t=3364441



We passed!

:cool1::cool1::yay::yay::woohoo::woohoo:

squirrel4569—$78-$13488-160-AKV-Mar-0/’14,160/’15,160/’16-sent 12/12, passed 1/5

:cool1::cool1::yay::yay::woohoo::woohoo:
Welcome Home

I've added your contract to the 2015 list too

http://www.disboards.com/showthread.php?t=3364441





Woohoo we passed!!

$94-$6404-60-BWV-APR-60/'14 (must be used by 3/31), 60/'15, 60/'16
Sent 12/12 passed 1/6
not quite as cheap as some of the other recent resales posted but small BWV contracts seem to go quickly especially when they aren't stripped of 2015 points since we need those for our next trip :)
Welcome Home

I've added your contract to the 2015 list too

http://www.disboards.com/showthread.php?t=3364441
 
I was too afraid to post till now... $85 for 200pts feb use yr, 179 2015, 200 2016, buyer pays prorated maintenance and fidelity admin fee ($195), seller pays closing.

Submitted 12/21.
Passed TODAY
 
Updating timeline:

"Just Peachy---$121pp-$20,834 (includes closing @ 650 + 2015 dues @ 824), 160-VGC-Jun, 160/'14, 160/'15, 160/'16, offer made and accepted 7Nov, went to ROFR 10Nov, passed ROFR 25Nov."


Finally got closing docs today (Jan 14).....7 weeks on paperwork....really?! :mad:

I think the banking deadline for the June 2014 points is Jan 31st, right? Assuming I get the docs and closing check FedEx'ed back to the escrow company in CA, tomorrow...I'm thinking that I won't have a member account to bank points until the end of February. How strict are the folks at Member Services about not letting you bank your points for the first year when closings take a long time?:scared:
 
So my SSR contract passed! I was very surprised by this, but am happy to have the points!

$75-$12,510-150-SSR-Mar 35/14 (banked from 13), 300/15 (150 banked from 14), 150/16
:)
 
I was too afraid to post till now... $85 for 200pts feb use yr, 179 2015, 200 2016, buyer pays prorated maintenance and fidelity admin fee ($195), seller pays closing. Submitted 12/21. Passed TODAY
Congratulations!! You're giving me hope! My contract was submitted for ROFR on Dec 1st but due to issues was given an ROFR effective date of Dec 21. Maybe tomorrow will be my day!
 
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