DVC Right of First Refusal Report (ROFR): March ’19 Report
Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 164 Disney Vacation Club (DVC) contracts, and DVC Resale Market has sold 1,144, resulting in a 14.3% buy back rate. (Contracts Bought Back year-to-date / Contracts Sold year-to-date). The year-to-date waiver rate is 85.7%.
In 2019, the chances a DVC contract is bought back or not, continues to be highly resort dependent. YTD, 6 DVC Resorts have zero buy backs: Aulani, Grand Californian, Polynesian, Vero Beach, Copper Creek and Boulder Ridge. Meanwhile, 4 DVC Resorts have buy back rates of 20% or higher: Animal Kingdom, Bay Lake Tower, Beach Club and Hilton Head.
The chart below shows the relationship between the average selling price per point and the buy back rate from March 2018 through March 2019. Historically, we have observed resale price per point and buy back rate have an inverse relationship.
What is Right of First Refusal (ROFR)?
For those new to the concept of Right of First Refusal, it 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.
Disney Vacation Club Resort Contracts Bought Back in 2019
YTD, 8 different DVC resorts experienced buy backs (in order of buy back volume): Animal Kingdom, Bay Lake Tower, Saratoga Springs, Beach Club, Boardwalk, Old Key West, Grand Floridian, and Hilton Head.
Please refer to the graph below for the total amount of buy backs at each DVC resort for contracts sold by DVC Resale Market YTD in 2019:
Details on DVC Buybacks
In March, DVC Resale Market experienced buy backs for Animal Kingdom, Bay Lake Tower, Beach Club, Boardwalk, Grand Floridian, Hilton Head, Old Key West and Saratoga Springs.
Details on the contracts bought back in March are below:
| Resort | $/Point | Pts. on Contract | Price | Closing Costs Paid by | ’19 Dues Paid by | Use Year | Point Availability |
| Animal Kingdom | $106 | 120 | $12,720 | Buyer | Pro-Rate | Dec. | 73 pts.’18 + 76 pts.’19 |
| Animal Kingdom | $101 | 200 | $20,200 | Buyer | Pro-Rate | Feb. | 24 pts.’19 + 200 pts.’20 |
| Animal Kingdom | $106 | 100 | $10,600 | Buyer | Seller | Jun. | 0 pts.’19 + 100 pts.’20 |
| Animal Kingdom | $105 | 100 | $10,500 | Buyer | Seller | Aug. | 0 pts.’19 + 100 pts.’20 |
| Animal Kingdom | $102 | 220 | $22,440 | Buyer | Seller | Mar. | 7 pts.’19 + 220 pts.’20 |
| Animal Kingdom | $104 | 200 | $20,800 | Buyer | Buyer | Feb. | 238 pts.’19 + 200 pts.’20 |
| Animal Kingdom | $95 | 160 | $15,200 | Buyer | Pro-Rate | Feb. | 8 pts.’19 + 160 pts.’20 |
| Animal Kingdom | $103 | 220 | $22,660 | Buyer | Buyer | Jun. | 220 pts.’19 + 220 pts. ’20 |
| Animal Kingdom | $100 | 110 | $11,000 | Buyer | Buyer | Oct. | 92 pts.’19 + 110 pts.’20 |
| Resort | $/Point | Pts. on Contract | Price | Closing Costs Paid by | ’19 Dues Paid by | Use Year | Point Availability |
| Bay Lake Tower | $135 | 150 | $20,250 | Buyer | Seller | Jun. | 0 pts.’19 + 150 pts.’20 |
| Bay Lake Tower | $138 | 160 | $22,080 | Buyer | Seller | Feb. | 1 pt.’19 + 160 pts.’20 |
| Bay Lake Tower | $125 | 130 | $16,250 | Buyer | Seller | Feb. | 0 pts.’19 + 57 pts.’20 |
| Bay Lake Tower | $140 | 150 | $21,000 | Seller | Seller | Mar. | 9 pts.’19 + 150 pts.’20 |
| Bay Lake Tower | $135 | 160 | $21,600 | Buyer | Pro-Rate | Aug. | 118 pts.’19 + 160 pts.’20 |
| Resort | $/Point | Pts. on Contract | Price | Closing Costs Paid by | ’19 Dues Paid by | Use Year | Point Availability |
| Beach Club | $134 | 350 | $46,900 | Buyer | Seller | Feb. | 350 pts.’19 + 350 pts.’20 |
| Beach Club | $136 | 175 | $23,800 | Buyer | Pro-Rate | Feb. | 112 pts.’19 + 175 pts.’20 |
| Beach Club | $135 | 270 | $36,450 | Buyer | Buyer | Aug. | 81 pts.’19 + 270 pts.’20 |
| Beach Club | $140 | 100 | $14,000 | Buyer | Seller | Apr. | 0 pts.’19 + 100 pts.’20 |
| Resort | $/Point | Pts. on Contract | Price | Closing Costs Paid by | ’19 Dues Paid by | Use Year | Point Availability |
| Boardwalk | $110 | 250 | $27,500 | Buyer | Buyer | Oct. | 158 pts.’18 + 250 pts.’19 |
| Boardwalk | $111 | 300 | $33,300 | Buyer | Seller* | Jun. | 0 pts.’19 + 58 pts.’20 |
* Seller Provided Credit to Buyer for 2020 Points Used
| Resort | $/Point | Pts. on Contract | Price | Closing Costs Paid by | ’19 Dues Paid by | Use Year | Point Availability |
| Old Key West | $90 | 117 | $10,530 | Buyer | Buyer | Mar. | 146 pts.’19 + 117 pts.’20 |
| Old Key West | $88 | 310 | $27,280 | Buyer | Buyer | Oct. | 440 pts.’18 + 220 pts.’19 |
| Old Key West | $90 | 210 | $18,900 | Buyer | Buyer | Dec. | 210 pts.’19 + 210 pts.’20 |
| Resort | $/Point | Pts. on Contract | Price | Closing Costs Paid by | ’19 Dues Paid by | Use Year | Point Availability |
| Saratoga Springs | $89 | 200 | $17,800 | Buyer | Pro-Rate | Jun. | 22 pts.’19 + 200 pts.’20 |
| Saratoga Springs | $96 | 150 | $14,400 | Buyer | Seller | Mar. | 0 pts.’19 + 150 pts.’20 |
| Saratoga Springs | $100 | 150 | $15,000 | Buyer | Seller | Apr. | 0 pts.’19 + 150 pts.’20 |
| Saratoga Springs | $92 | 160 | $14,720 | Buyer | Seller | Sept. | 0 pts.’19 + 160 pts.’20 |
| Saratoga Springs | $93 | 150 | $13,950 | Buyer | Seller | Sept. | 0 pts.’19 + 150 pts.’20 |
| Saratoga Springs | $92 | 160 | $14,720 | Buyer | Buyer | Jun. | 169 pts.’19 + 160 pts.’20 |
| Saratoga Springs | $95 | 220 | $20,900 | Buyer | Seller | Aug. | 0 pts.’19 + 220 pts.’20 |
| Saratoga Springs | $95 | 185 | $17,575 | Buyer | Pro-Rate | Mar. | 154 pts.’19 + 185 pts.’20 |
| Saratoga Springs | $96 | 150 | $14,400 | Buyer | Seller* | Feb. | 0 pts.’19 + 8 pts.’20 |
| Saratoga Springs | $96 | 240 | $23,040 | Buyer | Seller | Oct. | 0 pts.’19 + 240 pts.’20 |
* Seller Provided Credit to Buyer for 2020 Points Used
Buy Back Rates for Disney Vacation Club Resorts
The table below shows the percentage of buy backs for all 8 different resorts purchased back in January through March of 2019. Note, the buy back rate for Aulani, Grand Californian, Polynesian, Vero Beach, Copper Creek and Boulder Ridge in 2019 has been 0%.
| Resort | Buy Backs | Number Sold | Percentage Bought Back |
| Animal Kingdom | 39 | 197 | 20% |
| Bay Lake Tower | 38 | 120 | 32% |
| Beach Club | 18 | 52 | 35% |
| Boardwalk | 10 | 79 | 13% |
| Grand Floridian | 8 | 72 | 11% |
| Hilton Head | 7 | 27 | 26% |
| Old Key West | 10 | 57 | 18% |
| Saratoga Springs | 36 | 239 | 15% |
Access all DVC resale listings and learn more about buying and selling with DVC Resale Market.
Comments