Have you lost to Disney in ROFR?

[mjy]

I see so many people log in here and state in one way, shape, or form that they are worried that they will not pass Disney's ROFR.

Yet, from my own experiences with resellers, as well as knowing about several others, that was never a problem -- Disney generally waived.

So, anyway, I thought it would be interesting to see what the numbers were on people winning their bid as Disney passed on ROFR.

Thanks for taking the time to do this!

 

[bobbiwoz]

Once Disney took it (VWL), and twice they waived ROFR (VB and VWL).

Bobbi

 

[jiggerj]

I first tried for a resale at OKW for 260 points at 75pp a few years ago. I waited (sweated!) it out 30 days to be told that Disney took it back-

I was heartbroken!

Then a friend suggested buying direct from Disney- Was able to get my dream resort of the BWV's and it quick and stressfree-

 

[mjy]

Then a friend suggested buying direct from Disney- Was able to get my dream resort of the BWV's and it quick and stressfree-

Sorry that you lost out on OKW, but I am happy that it led you to BWV. As you can see, I'm a bit partial to it!

 

[mjy]

bumping as I am still curious

 

[SpoonfulofSugar]

Disney ROFR'ed our first attempt to buy resale (BC) so then we decided to just buy direct from Disney. That was in 2005.

 

[kimberh]

I was ROFRed 3 times before my first purchase for VWL was passed in 2006.

 

["Got Disney"]

What is ROFR please sure once you tell me I will feel like an idiot

 

[mjy]

[quote="Got Disney";20153650]What is ROFR please sure once you tell me I will feel like an idiot[/quote]

"Right Of First Refusal." Before any sale can go on, Disney has the first opportunity to purchase at the price you had agreed on. If they refuse to purchase, you win. If they do purchase, you lose.

 

[mla973]

We had one BWV contract ROFR'd, and then we found another, better contract for BWV and offered more per point than what they were asking in order for it to pass. It did!

 

[snappy]

Made one offer on a BWv contract in March 2007. . .165 points, offered $86 to ensure it would pass RFR since it had 2006 points as well.

Some offer too low a $$, the real heart breakers are the ones that are on the borderline, that have passed at that price recently, but is taken by Disney this time. One or two $$ per point can really make a difference.

 

[DisDaydreamer]

[QUOTE="Got Disney";20153650]What is ROFR please sure once you tell me I will feel like an idiot[/QUOTE]

Right Of First Refusal.... is a good thing IMHO.

It is what keeps the market value of our properties steady or increasing. Basically, it gives Disney the first option to buy your property for sale. If they feel you are selling it below market value, they will buy it. If they feel you are close enough to, at, or above market value they will let the sale go through.

There can be circumstances that will encourage Disney to be lenient such as contracts that have already had the points used for this and/or next year (sometimes referred to as a "stripped contract"). Or in cases where a charity is involved. For the most part though, they have a pretty narrow window of acceptability.

 

[mjy]

Right Of First Refusal.... is a good thing IMHO.

Oh, I agree wholeheartedly.

I was a bit surprised, though, by the people who said that they lost their attempt to purchase because Disney exercised their right of first refusal.

As I said when I posted this poll, I never had any problem (the few times that I purchased via resellers) nor have other friends of mine who have done the same.

I guess we just didn't "tempt the fates" by trying to purchase too low and setting off Disney's internal alarms.

 

[Granny]

Yet, from my own experiences with resellers, as well as knowing about several others, that was never a problem -- Disney generally waived.

My resale offer passed ROFR, but I think it was because I was keenly aware of the ROFR rule and put together a bid that would get past ROFR. So while ROFR wasn't exercised, I'd say that yes I "lost" to ROFR because I paid more than I probably would have been able to negotiate.

 

[salmoneous]

It is what keeps the market value of our properties steady or increasing.

Many of us believe that the desirability of DVC and market demand are what set the price of the resale market. ROFR might smooth things about a bit, but I don't see it artificially inflating prices.

 

[JoeEpcotRocks]

On my 1st purchase:

Attempt one -- passed ROFR -- but seller bailed
Attempt two - did NOT pass ROFR
Attempt three -- passed ROFR -- and deal was successful

On my 2nd purchase:

Passed ROFR and deal was successfull.

 

[mjy]

My resale offer passed ROFR, but I think it was because I was keenly aware of the ROFR rule and put together a bid that would get past ROFR. So while ROFR wasn't exercised, I'd say that yes I "lost" to ROFR because I paid more than I probably would have been able to negotiate.

Well, that certainly is another perspective to the topic! Makes all of us winners, losers.

But, hey, we're owners . . . that's all that counts, eh?

 

[mjy]

On my 1st purchase:

Attempt one -- passed ROFR -- but seller bailed
Attempt two - did NOT pass ROFR
Attempt three -- passed ROFR -- and deal was successful

On my 2nd purchase:

Passed ROFR and deal was successfull.

On one of my purchases, there was a huge time lag and the resale store told me that they thought that the seller was going to reneg on the offer. All I could do was wait. A couple of days later I received a phone call saying that the seller had called the store to apologize for not getting the paperwork in sooner. He had been called out of town on a family emergency. The paperwork was finished a day or two after that.

Must say, I was sweating a little bit. Felt bad for the family and their emergency but was glad that the delay was not because they were going to withdraw the sale.

I've heard from a number of people who had their sales cancelled by the buyer and I really feel for them. Talk about getting your hopes up and then getting them dashed!

 

[DisDaydreamer]

Double post

 

[DisDaydreamer]

Many of us believe that the desirability of DVC and market demand are what set the price of the resale market. ROFR might smooth things about a bit, but I don't see it artificially inflating prices.

I agree that this process does not artificially inflate pricing. Demand ceratainly pushes up the price (tolerance) and if demand greatly dissapeared the price would fall, but Disney stablizes the price and prevents knee-jerk trends from happening. Disney actually contains the inflation of pricing by having a continuous flow of new properties priced slightly above resale (in most cases).

Unless there is some unprecedented swing in demand, Disney is in total control. IMHO.