ROFR Thread Jan to March 2022 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[larry47591]

It is in the annual dues budget notice every year. Here is the language and I bolded the part that says they don't pay it on unsold Ownership interests.

Developer Guarantee - DVD has agreed to guarantee to each Purchaser and Owner that they will only be required to pay an assessment for operating expenses of $5.5383 per Vacation Point through December 31, 2022, exclusive of ad valorem taxes which are billed separately. In consideration of this guarantee and pursuant to Florida law, DVD will be excused from the payment of its share of the expenses which otherwise would have been assessed against its unsold Ownership Interests during the term of the guarantee. As a consequence of this exemption, during the term of this guarantee, existing Owners and current Purchasers will not be specially assessed with regard to Common Expenses, except as hereinafter provided, if Common Expenses exceed the guarantee per Vacation Point amount and DVD will pay any difference between actual expenses and assessments collected from all Owners and income from other sources. Amounts expended for any insurance coverage required by law or the Condominium Documents to be maintained by the Association and depreciation expense related to real property shall be excluded from the calculation of the Developer obligation except that for real property used for the production of fees, revenue or other income depreciation expense shall be excluded only to the extent they exceed the net income from the production of such fees, revenue or other income. DVD will pay such expenses as needed to meet expenses as they are incurred. However, any expenses incurred during the guarantee period resulting from a natural disaster or an act of God, which are not covered by insurance proceeds from the insurance maintained by the Association, will be assessed against all Owners owning Ownership Interests on the date of such natural disaster or act of God, or their successors or assigns, including DVD as to its unsold Ownership Interest, provided that during any period of time DVD controls the Association pursuant to Section 718.301, Florida Statutes, the Association maintains all insurance coverages required by Section 721.165, Florida Statutes. DVD reserves the right, but is under no obligation, to extend and/or increase the amount of this guarantee for one (1) or more periods of one (1) year each after the expiration of this guarantee period on December 31, 2022, as permitted by Florida law.

Yes but this refers to what they can’t sell they are require to own or for new resorts for what is declared but not sold. this does not refer to what was bought back.

 

[larry47591]

Yes but this refers to what they can’t sell they are require to own or for new resorts for what is declared but not sold. this does not refer to what was bought back.

Buy backs considered sold property. There is a reason they slow down on buy backs around Christmas

 

[Sandisw]

Yes but this refers to what they can’t sell they are require to own or for new resorts for what is declared but not sold. this does not refer to what was bought back.

That is not my understanding (and how it was explained to me). Once bought back, those points are available for sale again so they are indeed considered unsold Ownership interests.

 

[larry47591]

That is not my understanding. Once bought back, those points are available for sale again so they are indeed considered unsold Ownership interests.

Once it is 100 percent declared they can undeclared it. Once a resort is sold out you are buying resale whether it’s from an individual or Disney

 

[Sandisw]

Once it is 100 percent declared they can undeclared it. Once a resort is sold out you are buying resale whether it’s from an individual or Disney

When you buy direct, you have no idea if those points were previously sold. You buy them from DVD and they are just as new as any other points. It is why they don't come with restrictions because they are now developer points. It is why DVD doesn't keep the contract intact and can break it up and sell it however they want. No different than prior to being sold to someone else. As I said, I reached out when I first read this to find out what it meant and was told it applies to all points owned by DVD.

Its a great conversation so if anyone wants to continue, then let's start a new thread. But, they would not be guaranteeing owners to cover shortfalls in exchange for not paying the fee if it didn't include all the points they now own.

 

[DonMacGregor]

I still struggle to believe Disney could ostensibly buy back 50% of all points in circulation at ABC resort, and then turn around and increase MF’s by 100% to compensate for the shortfall. If that was the case, then ideally Disney would sell out a resort, buy back half the points (or more), use them for cash sales, and leave the remaining owners to foot the bill for all maintenance on 100% of the resort.

 

[Sandisw]

I still struggle to believe Disney could ostensibly buy back 50% of all points in circulation at ABC resort, and then turn around and increase MF’s by 100% to compensate for the shortfall. If that was the case, then ideally Disney would sell out a resort, buy back half the points (or more), use them for cash sales, and leave the remaining owners to foot the bill for all maintenance on 100% of the resort.

Remember, they do have to cover the shortfall if the per point is not enough…so, in truth, I don’t think numbers would work out to do what you suggest. It just wouldn’t make financial sense to own under those terms.

But, taking a few thousand extra points here and there for whatever reason isn’t going to make a big dent in what owners have to cover. Just saying that I don’t think that ROFR points are always taken just to fill waitlists.

 

[Mexacajun]

mexacajun---$117-$38489-320-OKW(E)-Apr-0/21, 0/22, 320/23- sent 3/14

I am so ready for either decision. Just want it so I can move on. This is painful.

 

[dlam32]

Waiting for mine about the same day/price of yours. I'll keep trying. Thankfully I don't need the points for any specific vacation at this point. Try try again.

Fingers crossed for you. They can't take them all right?!

 

[Erik Rhoda]

Disney must be getting ready to have a special sale on BCV . I think we can look to the recent offering at BLT for a idea of what they will offer. It would explain all the buy backs.

 

[Mexacajun]

Disney must be getting ready to have a special sale on BCV . I think we can look to the recent offering at BLT for a idea of what they will offer. It would explain all the buy backs.

What has been the BLT offer?

 

[Erik Rhoda]

162-40,500-250-BLT-FEB-0/21-0/22-250/23-sent 3/31

 

[Sandisw]

Disney must be getting ready to have a special sale on BCV . I think we can look to the recent offering at BLT for a idea of what they will offer. It would explain all the buy backs.

The BLT offer was before VGF went on sale. They now have that to sell. It wouldn’t make a lot of sense to add BCV to the mix until they give this a chance.

 

[Mexacajun]

The BLT offer was before VGF went on sale. They now have that to sell. It wouldn’t make a lot of sense to add BCV to the mix until they give this a chance.

What kind of incentives were we seeing with that? Just curious.

 

[Sandisw]

What kind of incentives were we seeing with that? Just curious.

From DVC Fan:

 

[Mexacajun]

From DVC Fan:

From DVC Fan:

View attachment 659456

Wow. That is pretty good. What was the asking price before incentives.

 

[Sandisw]

Wow. That is pretty good. What was the asking price before incentives.

It is $245.

 

[Mexacajun]

It is $245.

Ahhh. Ok. So resale still crushes it.

 

[HIRyeDVC]

Ahhh. Ok. So resale still crushes it.

Most definitely. But it wasn’t a bad alternative for those looking for 300+ points and were looking for something other than Riv or Aulani.

 

[Pens Fan]

Well, we just can't help ourselves . Yesterday afternoon a new CCV listing popped up in our Sep UY. It's a loaded 200 point contract (103 points banked from 2020, 400 points coming 9/1/22). Priced at $165 pp. I mean how could we resist, right ???

We put in a full price offer as we've had two taken at $160 and $161 (with seller paying MF's) and don't want to lose it to ROFR over a few hundred dollars. It's still in the range that they are taking, but of the 5 contracts we've signed lately this is the one I'm most excited about. So far, we've lost 2, have one that I'll be shocked if it passes (another $160 pp - though on this one we are paying MF) and another with a fair shot besides this one. Never give up, friends! They can't take them all!!

We signed everything last night, and I'll post the string once it's gone to ROFR - probably Monday.