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No ROFR, please

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  • No ROFR, please

    Our offer on a 150 point OKW resale was accepted!

    Now, we just have to dodge the ROFR gremlins because the price-per-point was at the lower end for OKW. As DVC Store's agent agreed with Drew, it could get ROFRed.

    That'll give us 275 points to play with if it squeaks through, giving us more flexibility on booking the 1brs we prefer.

    Fingers crossed, knock wood!

    “People say nothing is impossible, but I do nothing every day.” —Winnie-the-Pooh

    WDW 11/2021--PVV/VGF; WDW 11/2019-VGF/BRV; WDW 11/2018–VGF; WDW10/2017--VGF; WDW 12/2015--GF; WDW 11/2014--WL; WDW 11/2013--GF; WDW 1/2010--GF; WDW 7/2004--CR Tower /// Drew to WDW several times in the 70's/1984; Me DL 1967.

  • #2
    Sending you all kinds of good luck pixies. I get the meaning of your post, but what does ROFR stand for, please?
    11/19-POFQ~5/19-POFQ~12/18-POFQ~4/18-Won. thru PC~10/16-POFQ~6/16-Won. to Alaska~4/16-POFQ~2/16-POR/Mag/POFQ~11/15-POFQ~6/15-Mag to Norway~5/15-POFQ~3/15-POFQ~12/2014-POR~9/14-CSR~3/14-POR~3/13-POR~ 6/11-Won. to Alaska~3/11-POR~6/10-GF/Poly~6/09-Mag~ 3/08-Pop/Won/POFQ~10/07-Pop~ 6/07-CBR~3/07-Pop/POFQ~6/06-Pop~12/05-POFQ~7/05-POR~1/05-Pop~7/04-POR~1/04-CBR~6/03-POFQ~3/03-POFQ~3/02-off site~12/01-WL~7/01-ASMU~3/01-POR~7/00-Swan~7/98-DxL~7/92-DxL~5/89-Off site~12/76-Honeymoon off-site

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    • #3
      ROFR is Right of First Refusal.

      When DVC is resold, Disney has the right to buy the contract back, to be the first to forbid the sale from going ahead—the “first refusal.” They usually use this to protect the value of the DVC brand when they consider the price too low.

      If they decide to ROFR, they match the price the seller and we agreed to. We don’t get the contract and start over trying to find one we want, but the seller gets paid. Then, Disney can resell it themselves. As an example, Disney is currently selling OKW for $180 per point when its low end on the resale market is $115/pt.

      It is hard to know what Disney will decide. In our research on how much the contracts are being sold for, this was being offered at the lower end of the recent resales, so it could go either way.
      HisDrewness
      Visiting Friends
      Last edited by HisDrewness; 01-10-2022, 05:02 PM.

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      • Pris
        Pris
        Earning My Pixie Wings
        Pris commented
        Editing a comment
        Thanks for the explanation. I knew Disney had to approve any sale, but now I have a much better understanding of the process.

      • Her Dotness
        Her Dotness
        Earning My Pixie Wings
        Her Dotness commented
        Editing a comment
        Also, if ROFRed, we'll get our deposit (10% of the total) back.

        It's a relatively decent system--the seller gets paid what they were asking, losing out in that they might've gotten more had they priced it higher and avoided ROFR. However, we obviously don't know what this seller's concerns may be. They may have needed/wanted to get rid of this contract asap, ROFR or not, thus choosing to price it low.

        We don't lose anything really but time spent wondering will-it-won't-it get through ROFR.

    • #4
      Sending pixies that the sell goes through without Disney intervening with the ROFR.
      Cam
      29 Trips to WDW
      2 Trips to DLR
      2 Disney Cruises (Wonder and Magic)
      1 Trip to Aulani/Hawaii

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      • #5
        I hope everything goes through. Sending lots of good thoughts and pixies.

        Enjoying some relaxation time on the Transatlantic cruise on the Disney Magic - I'm Cheryl and with my husband Mark, we love visiting Disney and exploring the world...

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        • #6
          ROFR pixies on the way! It’s a frustrating wait, for sure.

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          • #7
            Thanks, all! The whoosh I heard late yesterday must have been all those good wishes pixies heading our way.

            I thought it clever that a poster on another forum expressed hope we don't end up feeding "ROFeR the buyback pup." Too cute!
            “People say nothing is impossible, but I do nothing every day.” —Winnie-the-Pooh

            WDW 11/2021--PVV/VGF; WDW 11/2019-VGF/BRV; WDW 11/2018–VGF; WDW10/2017--VGF; WDW 12/2015--GF; WDW 11/2014--WL; WDW 11/2013--GF; WDW 1/2010--GF; WDW 7/2004--CR Tower /// Drew to WDW several times in the 70's/1984; Me DL 1967.

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