Current ROFR timeline

[slo]

Right Of First Refusal - when you buy a contract on the resale market, Disney has the right to match the terms of the deal and step in as a buyer. Seller is unaffected, buyer is replaced with Disney and is out of the deal, they get their deposit back and can go try again on a different deal

Thank you for explaining this. Does this happen often?

We did the open house at WDW a few days ago and we loved our DVC guide/cast member, but I’m hesitant on having a monthly payment thats more than my car payment.

 

[pzw90]

Thank you for explaining this. Does this happen often?

We did the open house at WDW a few days ago and we loved our DVC guide/cast member, but I’m hesitant on having a monthly payment thats more than my car payment.

I think some brokers have reported that it is under 3% of sales. So there are a bunch of factors. Is it a really good deal? Is it one of the resorts they are buying back (current reports have VGC, OKW42, AKV, VGC, and PVB being ROFRed)? Is the seller international?

I really don’t think it should hold you back from making an offer if you want something, chances are you don’t have to worry about it. You see it mentioned here more often because people here tend to be at the bottom of the price range, or are super anxious about their purchase and just need support

Here is a blog from the board sponsor with some great info:

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-february-25/

 

[slo]

I think some brokers have reported that it is under 3% of sales. So there are a bunch of factors. Is it a really good deal? Is it one of the resorts they are buying back (current reports have VGC, OKW42, AKV, VGC, and PVB being ROFRed)? Is the seller international?

I really don’t think it should hold you back from making an offer if you want something, chances are you don’t have to worry about it. You see it mentioned here more often because people here tend to be at the bottom of the price range, or are super anxious about their purchase and just need support

Here is a blog from the board sponsor with some great info:

https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-february-25/

Great - thank you

 

[Best Aunt]

I think some brokers have reported that it is under 3% of sales. So there are a bunch of factors. Is it a really good deal? Is it one of the resorts they are buying back (current reports have VGC, OKW42, AKV, VGC, and PVB being ROFRed)? Is the seller international?

Do people think that Disney less likely to take a contract in ROFR if the seller is international (Canadian to be specific)?

 

[pzw90]

That seems to be the consensus. Thought is the extra step with FIRPTA is something they rather not deal with. Might be other reasons we are not privy to

Some brokers even advertise if the seller is international. Maybe a selling point that you will have ease of mind of not worrying about ROFR

 

[Best Aunt]

That seems to be the consensus. Thought is the extra step with FIRPTA is something they rather not deal with. Might be other reasons we are not privy to

Some brokers even advertise if the seller is international. Maybe a selling point that you will have ease of mind of not worrying about ROFR

Thanks!

 

[Chili327]

Is there an average of start to finish?

 

[vicarrieous]

Is there an average of start to finish?

There are so many variables but a lot of brokers say an average of 60-90 days from offer to points in account. Keep in mind there are always outliers

 

[Girlstar30]

There are so many variables but a lot of brokers say an average of 60-90 days from offer to points in account. Keep in mind there are always outliers

Yes mine is lagging longer than people that started 3-4 weeks after me because sellers took a month to sign closing docs... but I still think I will fall within this time frame, closer to 90 days

 

[vicarrieous]

Yes mine is lagging longer than people that started 3-4 weeks after me because sellers took a month to sign closing docs... but I still think I will fall within this time frame, closer to 90 days

Exactly. Things can take longer too if there are delayed closings

 

[Chili327]

There are so many variables but a lot of brokers say an average of 60-90 days from offer to points in account. Keep in mind there are always outliers

I was just trying to get an idea for a contract I may get the process started tomorrow, if it works out. So having the points before June isn’t unreasonable.

 

[Girlstar30]

I was just trying to get an idea for a contract I may get the process started tomorrow, if it works out. So having the points before June isn’t unreasonable.

Just don't do international and multiple sellers

 

[Chili327]

Just don't do international and multiple sellers

Honestly I don’t even need the 2025 points, so it really doesn’t matter how long it takes, I just want to have an idea when to expect them… to also get an idea of what 7 month window will be opening. lol

 

[vicarrieous]

I was just trying to get an idea for a contract I may get the process started tomorrow, if it works out. So having the points before June isn’t unreasonable.

I think an expectation of sometime in June is a reasonable/conservative timeline as long as there isn't a delayed closing, international seller or it isn't Aulani. I think those can take a bit longer as well. Another tip, if you look at a contract and worry about missing a banking deadline, you can usually ask the broker to have the seller bank the points for you before you close. We did that with our first resale contract we bought.

 

[JWhiz]

31 days and counting for a BLT.

 

[vicarrieous]

31 days and counting for a BLT.

are you waiting for ROFR? I might be reaching out to the broker/title agent and make sure something isnt amiss

 

[Girlstar30]

are you waiting for ROFR? I might be reaching out to the broker/title agent and make sure something isnt amiss

Yes 31 days is the longest I've seen lately

 

[JWhiz]

are you waiting for ROFR? I might be reaching out to the broker/title agent and make sure something isnt amiss

Yep. Seemed odd to me too.

 

[vicarrieous]

Yep. Seemed odd to me too.

Who is your broker and title agent?

 

[JWhiz]

Who is your broker and title agent?

I reached out to my broker: "We just found out DVC missed waivers for the 2/17 submission date. There were over 30 missing." Oh well, just lucky I guess. LOL Hopefully hear something soon.