I Passed ROFR!


#1

I just checked my email and I finally got the one email I have been waiting for! I passed ROFR!!! Now I just have to wait for all the closing documents to be prepared and sent to me. They told me that sometime between now and 28 days from now I will receive my closing documents. After I receive them, I will get those back to them like lightening and then I will have my DVC points.

I am so excited right now I could scream. Oh wait, I did! The kids and I did a happy dance a few moments ago.

Thanks for letting me share my excitement with my MB friends! :smile:


#2

Congratulations!!! I’m so excited you passed, YEA!!


#3

Thanks! I am on cloud 9 right now. I am so ready to book my Christmas trip! I am so looking forward to hearing Welcome Home when we check into BC this year and knowing that it really is our home. No more renting points for us!


#4

I know what you mean, I coudn’t wait to hear “Welcome Home!” and know it was really true.

So give us the detail–how many points and what’s your use year?


#5

Congratulations & welcome home!


#6

That is so exciting. Lucky you! You really actually own a part of Disney!


#7

We bought 150 points for 87 a point. We have an August use year. I was looking for an October use year since we vacation every Christmas. I didn’t find any that had the points we wanted for the price we wanted with the October use year. We decided that August is close enough and the only way we would cancel our annual Christmas trip is a death or serious illness so we should be just fine with the August use year.


#8

Thanks! I have wanted to do this for the last several years. the time was finally right!


#9

Sorry, but I don’t know the meaning of ROFR. Could someone fill me in. Thanks.

It must be a good thing because the kids are doing the happy dance…lol


#10

[QUOTE=evansfmly5;926035]Sorry, but I don’t know the meaning of ROFR. Could someone fill me in. Thanks.

It must be a good thing because the kids are doing the happy dance…lol[/QUOTE]

“Right of First Refusal”- when buying a resale contract for DVC points (not through DVC) every private transaction has to pass ROFR where DVC can purchase the contract instead of the potential buyer (in this case, PoohFan).

Yippee!!


#11

ROFR is Right of First Refusal. When you purchase a DVC contract on the resale market, the contract is sent to Disney. They decide whether or not the price is acceptible–thus keeping the price up on all the DVC resorts which is a good thing for DVC owners who choose to sell later…If Disney chooses not to use their right to buy the contract back, then the buyer can move on to closing the sale. If Disney chooses to use its right to buy back the contract, then the buyer has to start over and find another contract to buy and Disney buys the contract from the seller at the price that the buyer and seller agreed upon.

Hope this makes sense as I am getting tired and a bit wordy…

Passing ROFR is a WONDERFUL thing! It means that we are DVC owners!!!


#12

Congrats!!!


#13

Congrats and thanks for the explanation. We own AKV and its good to know that the ROFR (I know what it means now…yeah me!) is in place to make sure our points wont go down too far in value. I actually looked at some resale points for AKV after we bought new and most were the same price that we paid.


#14

Oh hooray, I am so happy for you! :biggrin: I bet that is a HUGE load off your shoulders! Happy planning!!


#15

CONGRATS!!! and “Welcome Home”


#16

Welcome Home


#17

congrats!! Welcome Home!!


#18

Welcome Home Neighbor!!! :goofy:


#19

Congrats!

:happy:


#20

CONGRATULATIONS! And Welcome Home!!! :flowers: