ROFR Thread July to Sept 2018 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Preacherroe]

So using Timeshare Store for resale?

Yep. There's a great, big, beautiful tomorrow!

 

[JV63]

There's a great, big, beautiful tomorrow!

shining at the end of every day

 

[hichicha]

Mumof4mice---$125-$20200-160-BLT-Mar-0/17, 160/18, 160/19, 160/20-broker rebate $1500- sent 7/20, passed 8/21

Mumof4mice, can you tell us what a broker rebate is? Thank you.

 

[Jerry5788]

Mumof4mice, can you tell us what a broker rebate is? Thank you.

I believe it’s you get money back X number of weeks after it closes etc. Not sure if it’s the broker who pays you or the person who sold though

 

[Mumof4mice]

Mumof4mice, can you tell us what a broker rebate is? Thank you.

Hi hichicha! I bought a PVB contract from the broker back in April. It passed ROFR but fell through due to the seller. The broker offered to rebate me the commission they charge sellers plus $500 on a replacement.

 

[hichicha]

Hi hichicha! I bought a PVB contract from the broker back in April. It passed ROFR but fell through due to the seller. The broker offered to rebate me the commission they charge sellers plus $500 on a replacement.

That was nice of them. Also, thanks Jerry5788 for responding.

 

[Preacherroe]

Y’all should just keep submitting offers you think are fair regardless of what the broker says. It takes a bit more time and patience than offering close to asking to find a seller that will accept, but it’s worth it when someone finally does. Also, you shouldn’t care if Disney takes it since it is somewhat to be expected with a low ball. That’s probably the hardest part. They’ve taken a bunch of mine and anyone else’s who does low ball offers. I never mastered the whole “not caring” thing...

That sounds like a great plan, but I watched as SSR points prices increased 10% in the months I was waiting, while Disney was taking a couple of mine back. So I panicked and offered the going rate (at least the listing had points loaded for current year).

 

[Mumof4mice]

That sounds like a great plan, but I watched as SSR points prices increased 10% in the months I was waiting, while Disney was taking a couple of mine back. So I panicked and offered the going rate (at least the listing had points loaded for current year).

Even Disney has a budget. The target is probably 14% buy back rate (has been for the last 6 months or so) at the moment. So those of us not in a hurry to buy should continue to test the floor. If you get a contract through - win. If you don't, well I consider it taking one for the team for everyone else in ROFR. Win-win!

 

[TexasChick123]

That sounds like a great plan, but I watched as SSR points prices increased 10% in the months I was waiting, while Disney was taking a couple of mine back. So I panicked and offered the going rate (at least the listing had points loaded for current year).

No shame in that. Time is money. I paid $118pp for a completely loaded BWV. Then, I rented out the double points that came with it for this year, and that effectively dropped my purchase price significantly. There are many methods on how to do it. I bought my BLT at the going rate but got all the 2018 points plus a few bonus banked points. It was the size I wanted and matched my UY. Sometimes, you just have to do what works for you.

 

[Networth]

No shame in that. Time is money. I paid $118pp for a completely loaded BWV. Then, I rented out the double points that came with it for this year, and that effectively dropped my purchase price significantly. There are many methods on how to do it. I bought my BLT at the going rate but got all the 2018 points plus a few bonus banked points. It was the size I wanted and matched my UY. Sometimes, you just have to do what works for you.

I am doing this right now. I paid a little higher per point than I would of liked too but I got all 2017 points banked into 2018 and selling is paying CC. I will rent out the 2017 points and save money on closing fees. This is knocking off about $16-17PP. Was the UY we needed, prices continue to rise, and we needed the 2018 points sooner rather than later.

 

[ScubaCat]

Even Disney has a budget.

Practically all the contracts bought back are flipped to a new buyer for a modest profit very, very quickly. It's nothing for them to exercise ROFR.

 

[Mumof4mice]

Practically all the contracts bought back are flipped to a new buyer for a modest profit very, very quickly. It's nothing for them to exercise ROFR.

How do you think Disney makes decisions on which contracts to buy back, Scubacat? I have so many theories!

 

[ScubaCat]

How do you think Disney makes decisions on which contracts to buy back, Scubacat? I have so many theories!

It's about time someone wondered about that!

I'm sure there will be the usual battery of theories, but the waitlists (who's looking to buy and what residential unit at which resort) and price point are likely the main factors.

 

[hichicha]

Even with a little hiccup with the seller's name and having to fix that, we passed ROFR in 17 days. Yay!

hichicha---$110-$19407-160-AKV-Dec-0/16, 160/17, 320/18, 160/19- sent 8/6, passed 8/23

I'm sad to report the contract didn't have all the points as advertised and we have asked to cancel the contract.

 

[NewbieMom]

I'm sad to report the contract didn't have all the points as advertised and we have asked to cancel the contract.

So sorry! Who was your broker? This happened on my contract too, but we decided to proceed since it was a good price per point to begin with. I thought it was pretty sloppy to not get everything right stated on the contract, but someone said there's no way for them to verify the points upfront. I'm not really sure if that's true, but it's what I've been told that they're relying on the sellers' word.

 

[Mumof4mice]

I'm sad to report the contract didn't have all the points as advertised and we have asked to cancel the contract.

So sorry! Who was your broker? This happened on my contract too, but we decided to proceed since it was a good price per point to begin with. I thought it was pretty sloppy to not get everything right stated on the contract, but someone said there's no way for them to verify the points upfront. I'm not really sure if that's true, but it's what I've been told that they're relying on the sellers' word.

My understanding is that brokers can, and most do, carry out basic verification by searching for the deed under Sellers name on the OCC website, and asking for a screen shot showing currently available points. This of course doesn't prevent the seller to immediately transfer out the points after showing the screenshot. But it should greatly reduce the chance of the unpleasant surprise you experienced. Don't think those missing points were ever there though - they would have been untransferable.

What the brokers can't verify without carrying out title searches and incurring title search fees is whether the contract is mortgage free (or if mortgage payments are up to date). Especially if Seller didn't finance through Disney or drew the money from their home loans. This is how we were caught out on our first contract.

NewbieMum's contract was an awesome deal even with the point discrepancy - I would have proceeded too. For a "normal" deal, meh. I think you made a good call.

 

[RedFlower]

RedFlower —- $152.5- $32,079 - 200 - VGF - Jun - 0/17, 400/18, 200/19 - sent 8/10, passed 8/23

Super excited!

Edited. Still super excited!

 

[LaneOT]

I'm sad to report the contract didn't have all the points as advertised and we have asked to cancel the contract.

@hichicha oh dear. So sorry. I was admiring your contract because you got '17 and '18 points at a good AKL rate! That stinks. That's my fear with resale is that there are so many contingencies in the seller, and buyer conversely, being honest. I hope you're able to cancel without penalty.

 

[hichicha]

@hichicha oh dear. So sorry. I was admiring your contract because you got '17 and '18 points at a good AKL rate! That stinks. That's my fear with resale is that there are so many contingencies in the seller, and buyer conversely, being honest. I hope you're able to cancel without penalty.

I was so excited too. The broker provided a remedy that we didn't trust to actually happen. They then said we could cancel with no penalty. I guess we start over with another contract.

 

[LaneOT]

I was so excited too. The broker provided a remedy that we didn't trust to actually happen. They then said we could cancel with no penalty. I guess we start over with another contract.

Good luck!! Hoping you find a contract that's to your liking!