DVC Right of First Refusal Report (ROFR): August ’22
DVC Exercises Right of First Refusal (ROFR)
Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 953 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 3,477, resulting in a 27.4% buyback rate (Contracts Bought Back in 2022/Contracts Sold in 2022). The 2022 waiver rate is 72.6%.
Key ROFR Updates
Old Key West and Saratoga Springs buyers have been getting increasingly frustrated this year with ROFR, and rightfully so. These two resorts combined account for over 50% of all contracts bought back by Disney in 2022. So these following words might seem a little surprising – If you are looking for Saratoga Springs or Old Key West, the time to act is now!
August 2022 saw a significant decrease in buyback activity for Old Key West and Saratoga Springs, with attention turning instead to the following resorts: Bay Lake Tower (53), Animal Kingdom (44), and Copper Creek (35). Copper Creek even hit a new highest buyback price this month at $175 per point.
What is Right of First Refusal (ROFR)?
For those new to the concept, Right of First Refusal is the option Disney Vacation Club has to purchase any resale contract after a sales price has been agreed upon, and the contract has been executed. Each contract must be forwarded to DVC for review.
DVC typically takes no more than 30 days to review the contract. At their discretion, Disney may step in and purchase the property themselves at the terms agreed upon by the seller and original buyer. DVC then becomes the buyer, and the purchase is complete. Once DVC is the buyer there is not an opportunity to come back with a better offer in hopes of still purchasing the contract.
Highest Monthly Buy Back Numbers by DVC Resort
Highest Buyback Price Per Point by Resort from August 2021 to August 2022:
Disney Vacation Club Resort Resale Contracts Bought Back in 2022
The graph below shows the total amount of buybacks at each DVC resort for contracts sold by DVC Resale Market in 2022:
Buy Back Rates for Disney Vacation Club Resorts in 2022
The table below shows the percentage of buybacks for all 9 different resorts that have had at least one contract bought back in 2022. Note, there have been no buybacks of the following resorts in 2022 thus far: Aulani, Grand Californian, Riviera Resort, Grand Floridian, Polynesian, and Hilton Head.
|Resort||Buybacks||Number Sold||% Bought Back|
|Bay Lake Tower||148||300||49.3%|
|Old Key West||171||302||56.6%|