DVC Right of First Refusal Report (ROFR): March ’21 Report
DVC Exercises Right of First Refusal (ROFP)
Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 138 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 1,447, resulting in a 9.5% buy back rate (Contracts Bought Back in 2021/Contracts Sold in 2021). The 2021 waiver rate is 90.5%.
Bay Lake Tower Returns to the Top!
Bay Lake Tower leads all resorts for contracts sold through DVCRM for the highest volume of buy backs YTD in 2021. The last year Bay Lake Tower was the leader in buy back volume was 2016.
ROFR has been exercised on 41 Bay Lake Tower contracts at DVCRM through March. This represents more Bay Lake Tower buybacks from all of 2017, 2018 or 2020. It’s less surprising that this surge of Bay Lake Tower buy backs is happening, and more surprising it took so long. With it’s phenomenal location, historically low dues and excellent room mix Bay Lake Tower is always a popular choice for Members looking to stay and own with DVC.
Highest Monthly Buy Back Numbers by DVC Resort
Highest Buy Back Price Per Point by Resort from March ’20 to March ’21:
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.
Disney Vacation Club Resort Contracts Bought Back in 2021
Please refer to the graph below for the total amount of buy backs at each DVC resort for contracts sold by DVC Resale Market in 2021:
Buy Back Rates for Disney Vacation Club Resorts in 2021
The table below shows the percentage of buy backs for all 7 different resorts that have had at least one contract bought back in 2021. Note, there were no buy backs of the following resorts in 2021: Aulani, Beach Club, Boulder Ridge, Copper Creek, Grand Californian, Hilton Head, Riviera Resort and Vero Beach.
|Resort||Buy Backs||Number Sold||Percentage Bought Back|
|Bay Lake Tower||41||143||28.7%|
|Old Key West||35||118||29.7%|