ROFR Thread Jan to March 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[DVC Fanatic]

DVC Fanatic---$160-$19263-110-VGF-Dec-29/19, 110/20, 110/21- sent 2/29, passed 3/19

 

[Melissa M]

Melissa M---$154-$16593-100-BLT-Jun-0/19, 100/20, 100/21- sent 3/2, passed 3/19

 

[striker1064]

striker1064---$102-$18189-160-AKV-Oct-51/19, 160/20, 160/21- sent 2/28

Update!

striker1064---$102-$18189-160-AKV-Oct-51/19, 160/20, 160/21- sent 2/28, passed 3/19

 

[DisneyEH1]

DisneyEH1---$126-$9285-70-OKW-Oct-70/19, 140/20, 70/21- sent 3/2/2020, passed 3/19/2020

 

[LoveMugsNPins]

LuvMugsNPins---$103-$17025-160-AKV-Feb-0/19, 0/20, 160/21, 160/22- sent 2/28

passed 3/19

 

[DisneyYannuzzFam]

Just recieved contract from title company this morning! I passed ROFR on 03/19, letter was sent for estoppel, which passed on 03/20. That's really quick, right?

 

[DisneyEH1]

Just recieved contract from title company this morning! I passed ROFR on 03/19, letter was sent for estoppel, which passed on 03/20. That's really quick, right?

From what I have researched, that sounds really quick! Congratulations! I passed ROFR on 3/19, and I am hoping for a quick turn around too!

 

[E2ME2]

From what I have researched, that sounds really quick! Congratulations! I passed ROFR on 3/19, and I am hoping for a quick turn around too!

Congrats on passing ROFR 3/19.
Have you received closing docs yet?
I was told I passed ROFR 3/20, still waiting for closing docs.

 

[Brian Noble]

Isn't there a delicate balance they need to maintain with respect to the Resale Prices?
If resale becomes o very cheap compared to Direct (say less than 50% of Direct, across the board), then many more people may opt for resale regardless of the Direct Perks.

Doubtful. Many other timeshares are worth mere pennies on the dollar once the rescission period has passed. It has not stopped them from selling at a healthy clip. Given the Reality Distortion Field that Disney is able to generate, I expect that they would be even more successful.

 

[DisneyEH1]

Congrats on passing ROFR 3/19.
Have you received closing docs yet?
I was told I passed ROFR 3/20, still waiting for closing docs.

I have not received closing docs yet. Based on the email I received, it will take 2-3 weeks for closing docs. Hoping it will be faster. Congrats on passing ROFR!

 

[E2ME2]

I have not received closing docs yet. Based on the email I received, it will take 2-3 weeks for closing docs. Hoping it will be faster. Congrats on passing ROFR!

OK - be sure to post when you receive yours;
I'll do the same....

 

[E2ME2]

Doubtful. Many other timeshares are worth mere pennies on the dollar once the rescission period has passed. It has not stopped them from selling at a healthy clip. Given the Reality Distortion Field that Disney is able to generate, I expect that they would be even more successful.

I'm not sure I'm reading this correctly.
Are you saying DVC Direct would still be more successful? or Resale ??
Please clarify for me - THANKS!

 

[SherylLC]

oops, error....ROFR waived on my sale, not my purchase! DUH! (now that's embarrassing. LOL)

 

[RachStu]

Is anyone else purchasing from the UK and dismayed by the plummeting value of the £? I’ve asked my agent if we could delay the purchase by one month to give the exchange rate a chance to settle down. Thankfully we are with Fidelity so still have 2.5 to 3 weeks until our closing documents come through. We’ve had two contracts passed through ROFR in the last ten days. Dreadful timing.

 

[accm]

Is anyone else purchasing from the UK and dismayed by the plummeting value of the £? I’ve asked my agent if we could delay the purchase by one month to give the exchange rate a chance to settle down. Thankfully we are with Fidelity so still have 2.5 to 3 weeks until our closing documents come through. We’ve had two contracts passed through ROFR in the last ten days. Dreadful timing.

We’re in a similar position. We’re in Canada, and between this virus and what’s happening with oil prices, our dollar has tanked. I’m trying to look at the extra money on a $/pt/year, which makes it seem a lot more bearable.

 

[Brian Noble]

I'm not sure I'm reading this correctly.
Are you saying DVC Direct would still be more successful?

I believe DVD, when compared to other timeshare developers, will be *better* at selling retail despite a 10x (or larger) spread between retail and secondary market than those other developers. That's not to say that they will sell more easily than they do now, but I think the negative impact of a larger retail/secondary spread is minimal given the nature of timeshare as a business model.

 

[Brianstl]

I believe DVD, when compared to other timeshare developers, will be *better* at selling retail despite a 10x (or larger) spread between retail and secondary market than those other developers. That's not to say that they will sell more easily than they do now, but I think the negative impact of a larger retail/secondary spread is minimal given the nature of timeshare as a business model.

I think a higher spread is ultimately Disney’s goal. A low resale price creates a perception of a huge difference between the quality of resale and direct for many. Disney has come to the same conclusion as other timeshare sellers that perception helps them to get people to choose direct over resale. It, also, allows them to make more money when someone wants to buy a “sold out” resort by having to pay a lower price themselves for those points.

If Disney cared about maintaining the price of resale they wouldn’t continually add restrictions to that product.

 

[Brian Noble]

I agree with you for the most part, but I put the cause-effect in the other order---and that's also based on how I understand the business model.

From my perspective, timeshare is a product that is sold, not bought. Very few people wake up in the morning and think to themselves: "Today I am going to spend tens of thousands of dollars and obligate myself to decades of ongoing costs to vacation in the same place regularly, in exchange for a long-term discount." There are some--and they are disproportionately represented here in the DVC boards, at TUG, etc. but they are also few and far-between.

Instead, most timeshares are bought while someone is on vacation, having the time of their lives. They may have spent a bit more than they do on most trips, and had to save a bit to make that happen. Then, someone promises to bottle that magical feeling for decades to come in a way that seems affordable on its surface.

Indeed, many of these purchases are aspirational; they are a way to live a little better than you might otherwise. And, DVD's Membership nomenclature ties right into that aspirational nature. You belong. You are part of the club. It's not (usually) said explicitly, but there is a subtext that Members are little bit better than everyone else there.

And, if you look at the resale restrictions, they seem to feed into this. The first round: you can't use your points on DCL, ABD, or the Disney Collection. None of those things actually mattered in dollars-and-cents terms, but it felt like less. The second round: you don't get the Blue Card, the discounts, or many of the perks. These started to matter--the AP discount in particular, though maybe not any of the others. But, this is definitely creating an in-group and an out-group. The third round does this even more: you aren't even really part of "the club of owners" in the same way, because some resorts aren't open to you.

So, from where I sit, the restrictions are meant to create an emotional sense of loss in resale as much as a real one, because the sales decision has a very large emotional component to start with. But, emotions matter, and some of those differences are material, and so there is a corresponding drop in resale price. The perception of difference drives the increasing spread, rather than the other way around.

 

[carli_h]

Is anyone else purchasing from the UK and dismayed by the plummeting value of the £? I’ve asked my agent if we could delay the purchase by one month to give the exchange rate a chance to settle down. Thankfully we are with Fidelity so still have 2.5 to 3 weeks until our closing documents come through. We’ve had two contracts passed through ROFR in the last ten days. Dreadful timing.

We’re in the UK were due to travel in May and were thinking of adding on resale. I’m sorry that you’re caught up in purchasing as this has changed it all for us.

Unless things change we’ll be renting our Riviera points for the foreseeable future!

 

[LisaDay]

Update!

LisaDay---$138-$26042-175-PVB-Dec-0/18, 16/19, 164/20, 175/21- sent 3/3, passed 3/20

With all the rescheduling that is happening due to the virus, by the time that we close, do we have any chance of getting a week at the Poly in late January?