ROFR Thread Jan to March 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Bearval]

Clearly the resale market is strong especially considering how quickly “right priced” contracts are moving. Eventually the well will dry up and prices may go back up just like at the start of the pandemic.



My VGF offer was $33 below and I thought no way, they didn’t even counter. Now like others are saying, I wonder if I could have gotten it a couple dollars lower but at $137 pp on a small contract, I’m really really happy.

IMHO prices are going to continue to drop, DVD has too many points to sell for current and up coming new resorts and are going to focus their attention on selling out these resorts first plus the resale contracts all have 4 less years left on them now since the beginning of COVID. What would you rather buy direct right now ? a resort with an expiration date of 2052 or 2057 or for about the same price a "new" resort with an expiration date of 2070 or later? ROFR is going to be pretty much dead until late 2024 or early 2025 unless they get a waiting list of people who are insisting on buying direct points for older resorts.

 

[Matty B13]

All joking aside, I believe if sellers are only getting what they perceive as "lowball" offers and nothing close to their inflated asking prices reality may begin to sink in that their contracts are not worth nearly as much as they think. I feel offering lowball offers do help to get the prices that are accepted to drop.

Same thing is happening with real estate across the US right now. It is slowing reducing pricing, we are looking to move into another town close to us, and have been following pricing for the past 3 years. I have seen one house being whittled down $5k a month since the spring of last year and still has no takers, I'm not sure if they will sell because it is $600k and in my area that is lot of money. If you have to take a loan out you are going to get killed by the interest rate. I still think we are at least a year away from the bottom of this market though.

 

[TinkB278]

Was it really a great deal? or just what the true current market rate is? If an offer that far below asking was accepted you have to believe it was the highest or maybe only offer they received. How old was the listing?

No I agree with you. I guess I think it’s odd how high they are still listing AKV.

 

[timff18]

Just curious on others opinions - i am not new to purchasing resale (this is my 5th contract) and have not had this much of a delay with my others. Our contract passed ROFR on 2/16 and we received closing docs on 2/17. We (as buyers) returned our documents the next day - 2/18. Sellers have not returned the docs and the title company does not seem too anxious to push it (their response is just "we will keep you posted"). What do you think is a fair turnaround time for someone to return the docs back to the title company?

 

[Chia1974]

Just curious on others opinions - i am not new to purchasing resale (this is my 5th contract) and have not had this much of a delay with my others. Our contract passed ROFR on 2/16 and we received closing docs on 2/17. We (as buyers) returned our documents the next day - 2/18. Sellers have not returned the docs and the title company does not seem too anxious to push it (their response is just "we will keep you posted"). What do you think is a fair turnaround time for someone to return the docs back to the title company?

They could drag it out till the closing date on the contract and there’s nothing you can do.

 

[Sandisw]

There have been a lot of request’s lately about brokers, websites etc.

If someone asks, just post the website link and let the filter do its job. If it shows the ****, then everyone will know whether details beyond that can be shared.

 

[jakecaputo]

Just curious on others opinions - i am not new to purchasing resale (this is my 5th contract) and have not had this much of a delay with my others. Our contract passed ROFR on 2/16 and we received closing docs on 2/17. We (as buyers) returned our documents the next day - 2/18. Sellers have not returned the docs and the title company does not seem too anxious to push it (their response is just "we will keep you posted"). What do you think is a fair turnaround time for someone to return the docs back to the title company?

I'm in the same boat with one of my contracts with the literal same dates. The seller said they'd overnight the documents last Monday, but as of yesterday they haven't been received yet. Closing date is 3/9.

 

[jxc368]

Where do you all find your good prices on resale. Everywhere I have looked recently - the sellers are not willing to negotiate on price. Do you just luck into them - or are they neogtiating? What sites are better than others to look for a good deal?

 

[timff18]

Where do you all find your good prices on resale. Everywhere I have looked recently - the sellers are not willing to negotiate on price. Do you just luck into them - or are they neogtiating? What sites are better than others to look for a good deal?

search all of them! you never know what someone is willing to accept, and it does not hurt to submit an offer. Unless the description specifically says "only full price offers accepted" I would presume they are open to an offer.

 

[timff18]

I'm in the same boat with one of my contracts with the literal same dates. The seller said they'd overnight the documents last Monday, but as of yesterday they haven't been received yet. Closing date is 3/9.

we have not heard from the seller even, it is the title company that is just basically saying sit back and relax and it will close when it closes. It sounds like they are not even following up to see when to expect the docs.

 

[Chia1974]

Where do you all find your good prices on resale. Everywhere I have looked recently - the sellers are not willing to negotiate on price. Do you just luck into them - or are they neogtiating? What sites are better than others to look for a good deal?

Sometimes you need to stay firm on your offer and let the seller come back or just pure get lucky. I offered an ultra low offer and they accepted with no counter. Fidelity usually the one has those unicorn deals and those go super fast. You need to constantly refresh the website.

 

[Brian Noble]

It's also not necessary to get the absolute very best deal, just a good one. The ROFR thread leads to a bit of a one-upsmanship vibe, and it's easy to get caught up in that.

 

[timff18]

It's also not necessary to get the absolute very best deal, just a good one. The ROFR thread leads to a bit of a one-upsmanship vibe, and it's easy to get caught up in that.

very well said.

 

[JulieBeeRN]

JulieBeeRN---$150-$23000-150-BCV-Feb- 128/23, 150/24, 150/25- sent 3/3

 

[stevelle]

It's also not necessary to get the absolute very best deal, just a good one. The ROFR thread leads to a bit of a one-upsmanship vibe, and it's easy to get caught up in that.

Agree with this. The difference in per point price you pay for the initial purchase is only a small part of the overall cost of your DVC purchase. I chose a few contracts I was interested in. Then on my first one I made what I figured was a lowball offer, but have since realized that $15 below asking was probably not lowball compared to what I see on here.

 

[gobears157]

Congrats on a great deal! It sounds like it hasn't been taking quite 40 days to pass ROFR so be prepare to move funds sooner than that. First is there will be documents to sign from both buyers and sellers and you will pay an earnest deposit before contract is sent off to disney. Typically is 10% but Mason will let you put down as much as $5000 on a cc. ROFR is looking around 12 days currently. Once Disney waives your contract, you pay the remaining balance to escrow. Escrow will let you know when your contract is closed and then you wait for Disney to send you an email with your new account info (if new owner). You can check the closing thread on how long that part is taking. My last contract took about 50 days from bid accepted to points in my account and I'm expecting my current one to go so much faster! ROFR lady is already working on contracts submitted on 2/20.

Really appreciate the response and advice! If both buyers and sellers have signed and a deposit is collected, does this mean the next step is it's being sent to ROFR?

(Also thinking about what date I should use for the data string on "date sent for ROFR" to contribute back to this community)

 

[gobears157]

Where do you all find your good prices on resale. Everywhere I have looked recently - the sellers are not willing to negotiate on price. Do you just luck into them - or are they neogtiating? What sites are better than others to look for a good deal?

I sent out over a dozen offers at my $85pp target price for Aulani and worked the market from there. Surprisingly, I got 3 offer negotiations within 24 hours who were willing to play between $87-90pp, and a couple others around $95pp. Another few responded (through agent) with the usual hardball negotiations closer to their asking prices between $100-115pp and I negotiated hard back - then we agreed to not waste each others' time when I shared that I'm not deviating from my target that much.

Key is to stay respectful and grateful to the agent(s) through and through. Agents are just messengers and some will have their opinions (e.g., "I've never seen any contracts accepted below $95pp"), but they share the same end goal of trying to get you a contract. Simply work with those who are willing to work with you.

Side note: I didn't get a contract through Andy, but he really does live up to the expectations others on this board has shared -- his customer service is noticeably above the rest!

 

[sleepymouse]

Not quite official yet, but got an offer accepted at $87pp for aulani! 230 points and just starting the process. Mason is the title company and my fidelity sales rep said it’ll take about 40 days before I’m required to pay the balance.

Can someone walk me through the details of next steps?

• What’s happening during these 40 days?
• When does it go to rofr (during these 40 days of waiting for title company and before I pay off the balance, or after I pay off the balance)?
• When does Disney create my dvc member account and when do my points show up to use?
• Anything other major or minor step I should be aware of?

Excited to join the DVC family!

I am surprised that Mason is the title company. I didn't think they did AUL (Hawaii) contracts. Anyway, Congratulations!!!

 

[gobears157]

I am surprised that Mason is the title company. I didn't think they did AUL (Hawaii) contracts. Anyway, Congratulations!!!

Is Mason a good title company (easy to work with, fast response, etc.)?

 

[Sunnyore]

Really appreciate the response and advice! If both buyers and sellers have signed and a deposit is collected, does this mean the next step is it's being sent to ROFR?

(Also thinking about what date I should use for the data string on "date sent for ROFR" to contribute back to this community)

I usually wait until my broker tells me contract is sent to Disney rofr and used that date for my data string. Also someone pointed out which used to to be true is Mason doesn’t do Hawaii. I would double check on that piece of info. Otherwise Mason, specifically Cammy is usually super quick and efficient.