DVC Right of First Refusal Report (ROFR): November ’20 Report

Olivia's Cafe in Old Key West DVC resort at WDW

Year-to-date (YTD), Disney exercised their right of first refusal (ROFR) on 257 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) sold 3,382, resulting in a 7.6% buy back rate (Contracts Bought Back in 2020/Contracts Sold in 2020). The 2020 waiver rate is 92.4%.

Old Key West Leads the Way for Buy Back Percentage in 2020

Old Key West is head and shoulders above all other resorts when it comes to percentage of buy backs for 2020. YTD over 27% of all Old Key West contracts sold by DVCRM have been bought back by Disney despite Disney not buying back any contracts for a four month period (April through July). Additionally, in November over two-thirds of the Old Key West contracts sold were bought back by Disney. The next highest DVC resort in regards to percentage of buy backs YTD is Vero Beach at 12.4%.

Historically, Old Key West has always been a popular resort for Disney to exercise ROFR on. A great advantage DVC has when buying back Old Key West is that they can purchase back an Old Key West contract that expires in 2042 and automatically extend that same contract to 2057 when they resale it through the DVC direct channel. With resale on the secondary market, typically, buyers are willing to pay anywhere from $6 to $10 more per point for an extended Old Key West contract. So when Disney purchases back a non-extended Old Key West contract they are able to save that same $6 to $10 per point, but still get the benefit of reselling it as an extended contract. Disney resales Old Key West with a 2057 expiration date for $165 per point.

Highest Monthly Buy Back Numbers by DVC Resort

Highest Buy Back Price Per Point by Resort from November ’19 to November ’20

Highest Buy Back Price Per Point by Resort from November '19 to November '20

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 2020

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 2020:

Number of Contracts Disney Exercised ROFR on Sold by DVC Resale Market in 2020

Buy Back Rates for Disney Vacation Club Resorts in 2020

The table below shows the percentage of buy backs for all 9 different resorts that have had at least one contract bought back YTD. Note, there were no buy backs of the following resorts in January through September: AulaniHilton Head, Polynesian, Riviera Resort, and Copper Creek.

ResortBuy BacksNumber SoldPercentage Bought Back
Animal Kingdom21446  4.7%
Bay Lake Tower14307  4.6%
Beach Club2163  1.2%
Boardwalk3164  1.8%
Boulder Ridge277  2.6%
Grand Californian382  3.7%
Grand Floridian16187  8.6%
Old Key West84306  27.5%
Saratoga Springs85701  12.1%
Vero Beach15121  12.4%


Access all DVC resale listings and learn more about buying and selling with DVC Resale Market.


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