Actually, the term is Right of First Refusal ( commonly refered to as ROFR ).
Technically, until Disney decides to pass, you haven't bought anything yet.
IIRC, Disney is pretty much passing on any price north of $84.00.
If your offer was less - cross your fingers.
Regardless, good luck and welcome to DVCNews.
Thread: First Right of Refusal
Results 1 to 10 of 10
First Right of Refusal – 03-07-2011,12:13 PM
I just bought my first DVC property...YAY!!!!!!
I bought through resale and I'm still waiting for Disney's First Right of Refusal. Has anyone had issues with this process? Can I expect that it will take the full 4 weeks?
Very excited to be a DVC Member and my first trip will me in May (hopefully there will still be availability!)
Depends what resort you bought and how many points whether you pass or not. 50 BWV points at $70 each may not pass, but 250 at that price probably would. Newer resorts will generally require higher payments per point than older ones. Time-wise it almost always takes 3-4 weeks, although occasionally someone hears back sooner.
To see exactly what is and is not passing, here's a great thread from DIS Boards, started by someone who is also a member here. Look at the last few pages of the thread to see what's current. You need to have an account and sign in to it to view this thread, but it's free to join and they don't spam you:
Last edited by idratherbeinwdw; 03-07-2011 at 01:57 PM.
It might take almost the full 30 days before you hear that you have passed ROFR. There is a lot resale activity going on right now as buyers are trying to beat the March 20, 2011, deadline on the change in Exchange privileges. I suspect that DVD has a much higher backlog of offers it has to process.
Good luck and Welcome Home!!
Good luck on passing ROFR. We'll keep our--Denise
Good luck! We've gone thru the ROFR process three times. Maybe it's coincidental, but all three times we got notice we'd passed on a Thursday afternoon or Friday. It's as if Disney has their ROFR meeting towards the end of the week. As others have said, it seems to really depend partially on where you're buying. Two of our contracts were at HHI so they passed, even though they were in the $50s/point. I don't remember the price of the OKW contract. All of ours took less than the full 30 days, but only a few days less. I hear that BCV has a high demand, so has the greatest chance of being taken back. Good luck with your contract!
My pleasure! Best of luck, let us know what happens so we can officially congratulate you when you pass ROFR. Agreed, having done 2 resales the waiting is torturous.
And of course Welcome to DVC News.
I too can commiserate that the waiting for the ROFR waiver is really hard. In fact after one such experience we upped how much we were willing to pay by buying direct. We used to say even if we save only $50 it was worth, now we say $300. LOL. Not really but you know what I mean. The waiting is a killer. Do check out the thread that Mar gave you and you'll have lots of others to commiserate with.
Here's a little to help you pass ROFR quickly.--Denise