ROFR Thread Jan to March 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Jimmy Geppetto]

Newbie here. Been waiting for an opportunity to scoop up a resale contract and spent a lot of time reading and waiting. Did have one question which might be foolish. Is title insurance necessary? The agent I’ve been in contact with gave the option of with or without title insurance.

With other timeshares which don't hold value (equity) it's rarely needed, however with DVC and the number of financing options available when purchasing or refinancing DVC contracts, title insurance is a must for me. It just doesn't make sense to take on the risk of the seller having a lien against the deed, or a contested sale (divorce, estate etc.). When you break down the fees line by line that escrow agents charge, title insurance premium is around $150 on an average DVC contract. Why take on the risk to save $150? I always purchase it on a resale contract. I decline it when buying direct from Disney.

 

[BamaGuy44]

There are some unnamed members of my family who are a tad Disneyed out... (blasphemy, I know) I should probably replace them....

The resale market for family members is a bit soft right now, maybe consider renting them out

 

[LKKNZ]

With other timeshares which don't hold value (equity) it's rarely needed, however with DVC and the number of financing options available when purchasing or refinancing DVC contracts, title insurance is a must for me. It just doesn't make sense to take on the risk of the seller having a lien against the deed, or a contested sale (divorce, estate etc.). When you break down the fees line by line that escrow agents charge, title insurance premium is around $150 on an average DVC contract. Why take on the risk to save $150? I always purchase it on a resale contract. I decline it when buying direct from Disney.

The agent quoted a $775 difference without the insurance and just the search, mentioned not finding it necessary for Hawaii contracts as they do a thorough search. Regardless, it seems to be nonnegotiable, so we will budget for that. Thanks for your feedback!

 

[ClaraOswald]

Uh....my agent never said anything about title insurance so now I'm worried!

 

[Epcot Forever Forever]

Uh....my agent never said anything about title insurance so now I'm worried!

It’s usually included in the title fees.

 

[ClaraOswald]

It’s usually included in the title fees.

Oh. I hope that's the case. I don't think I saw a breakdown of the fees. Oops.

 

[Pens Fan]

Uh....my agent never said anything about title insurance so now I'm worried!

When you get your closing documents check the settlement page listing all of the individual fees. You should see it there. I wouldn't be too worried. We've bought multiple resale contracts and the default has always been to include title insurance.

 

[ClaraOswald]

When you get your closing documents check the settlement page listing all of the individual fees. You should see it there. I wouldn't be too worried. We've bought multiple resale contracts and the default has always been to include title insurance.

Thanks! I'll check. Still waiting on our closing docs so we'll see.

 

[macman123]

The broker never returned my call but I received a notice that it’s been sent to ROFR!

Pharmgirl123---$75-$17269-200-SSR-Aug-0/22, 200/23, 200/24- sent 3/21

That is a very very good deal. Well done.

 

[cruisin5]

cruisin5---$130-$38027-270-BLT-Feb-0/22, 270/23, 270/24, 270/25- sent 3/22

Hope the passing ROFR frenzy continues for another few weeks.

 

[Jimmy Geppetto]

The agent quoted a $775 difference without the insurance and just the search, mentioned not finding it necessary for Hawaii contracts as they do a thorough search. Regardless, it seems to be nonnegotiable, so we will budget for that. Thanks for your feedback!

Yeah something is off with that quote. Hawaii time shares do come with higher fees and premiums. I just pulled my Aulani fee sheet that First Am sent me and the title insurance premium wasn't anywhere close to $775.

 

[Sparkle_Steffie]

Hi everyone!


This thread can be an invaluable tool for buyers looking for some help when researching the most up-to-date prices for DVC contracts on the resale market, so I encourage everyone to post their contracts when they are sent to Disney, no matter if they are big, small, or in-between !

If you would like me to post your details, PLEASE USE THE FOLLOWING LINK TO GENERATE YOUR DATA STRING OR I CANNOT ADD YOU (yes, I am being totally mean this round, as with all rounds!):

https://rofr.scubacat.net

Just plug in all of the relevant data and post the resulting string in its entirety.

*PLEASE join me in giving huge props to @ScubaCat who worked to develop this super useful tool!!!

If you would like to double-check your entries after using the tool, just know that I need your username at the front and all data in the following order:

DISname---Price per point-Total cost (Price per point x # of points + Maintenance Fees to be paid at closing + Closing fees)-# of points-Home resort-Use Year-# of points available first year (banked or not),# of points current year, # of points following year, and year after that, followed by Date Sent for ROFR.


Please include any other details such as whether the seller is splitting closing or paying current year's MFs. We assume that the buyer pays current year MF and closing, so no need to add those details in writing, only to the total amount.

Then come back and post whether you passed or not using the tool again so that your completed string looks like the sample below. Or I will chase you down! Just kidding. But, in the spirit of helping everyone who uses this thread as a resource, please do let us know whether or not Disney waived your contract so that the data is complete. Please do not simply post that you passed, as I cannot comb through the thread to find your contract.


Sample:

pangyal---$144-$33296-219-VGF-Aug-113/14, 219/15, 219/16, 219/17- sent 8/24, passed 9/16

Please note that I cannot add you if you are missing any of the above details or if your contract has not yet been sent.

Here is a link to old ROFR list threads:

January 2013 - June 2013 at the bottom of page 161
July 2013- December 2013 ROFR List
January 2014-June 2014 ROFR List
July 2014-December 2015 ROFR List
January 2015 - July 2015 ROFR List
September 2015- December 2015 ROFR List
January 2016- March 2016 ROFR List
April 2016- June 2016 ROFR List
July 2016- September 2016 ROFR List
October 2016- December 2016 ROFR List
January 2017- March 2017 ROFR List
April 2017- June 2017 ROFR List
July 2017- Sept 2017 ROFR List
October 2017- December 2017 ROFR List
January 2018- March 2018 ROFR List
April 2018- June 2018 ROFR List
July 2018- Sept 2018 ROFR List
Oct 2018- Dec 2018 ROFR List
Jan 2019- March 2019 ROFR List
April 2019- June 2019 ROFR List
July 2019- Sept 2019 ROFR List
Oct 2019- Dec 2019 ROFR List
January 2020- March 2020 ROFR List
April 2020- June 2020 ROFR List
July 2020- Sept 2020 ROFR List
Oct 2020- Dec 2020 ROFR List
January 2021- March 2021 ROFR List
April 2021- June 2021 ROFR List
July 2021- Sept 2021 ROFR List
Oct 2021- Dec 2021 ROFR List
Jan 2022- March 2022 ROFR List
April 2022- June 2022 ROFR List
July 2022- Sept 2022 ROFR List
Oct 2022- Dec 2022 ROFR List

 

[Sparkle_Steffie]

Sparkle_Steffie---$130-$3636-25-BWV-Feb-0/22, 16/23, 25/24, 25/25-buyer paid $250 fee- sent 1/6, passed 1/25

 

[Ruttangel]

Doing some contract shuffling, was planning on getting fewer BCV points but plans change right!?

Buying

Ruttangel---$120-$16789-125-BCV-Dec-0/21, 112/22, 125/23, 125/24- sent 3/22

Selling

Ruttangel---$109-$4500-35-OKW-Feb-0/22, 0/23, 4/24, 35/25-I'm seller- sent 2/28, passed 3/7

 

[John Gry]

John Gry---$120-$23199-186-BWV-Dec-147/22, 186/23, 186/24- sent 2/25, passed 3/7

Still waiting on closing documents, never had to wait this long before. Seems like it's taking forever.

 

[Redsred3]

Can you put in offers on more than one contract, if you are only looking to buy one? I.e is sending an offer committing to the sale regardless? Just curious if I need to wait until I hear back before I put in a different offer, as I know it can take awhile and I get antsy!

 

[macman123]

Can you put in offers on more than one contract, if you are only looking to buy one? I.e is sending an offer committing to the sale regardless? Just curious if I need to wait until I hear back before I put in a different offer, as I know it can take awhile and I get antsy!

Yes. You have 10 days to pull out once you have signed the contract.

 

[CVG]

Can you put in offers on more than one contract, if you are only looking to buy one? I.e is sending an offer committing to the sale regardless? Just curious if I need to wait until I hear back before I put in a different offer, as I know it can take awhile and I get antsy!

https://www.dvcbyresale.com/index.php has some commentary such as "I understand that by submitting this information I am obligated and 100% committed to purchasing this property with all costs as detailed above" but I regard that as nonsense.

 

[Adrian70]

Or the CAGR of a similarly invested amount of money placed in a S&P 500 Index Fund!!!

But maybe my true comparison is what I'm actually doing with that money, and sometimes that's just a savings account (another conversation for another day)

 

[pianomanzano]

https://www.dvcbyresale.com/index.php has some commentary such as "I understand that by submitting this information I am obligated and 100% committed to purchasing this property with all costs as detailed above" but I regard that as nonsense.

lol seriously. How would that even be enforceable.