DVC Right of First Refusal (ROFR): April ’18 Report

In the month of April, Disney exercised their right of first refusal (ROFR) on 35 of 293 Disney Vacation Club (DVC) contracts sold through the DVC Resale Market, representing 11.9% of the contracts sold. The waiver rate for April was 88.1%. April 2018, is second only to February 2017, for total number of buy backs in one month. In February 2017, Disney exercised ROFR on 37 contracts.

For a fourth consecutive month, April showed an increase in the buy back rate. Overall, April raised the year-to-date buy back rate to 7.3%, which is now ahead of where both 2016 (4.4%) and 2017 (6.9%) ended. The year-to-date waiver rate is now lowered to 92.7%.

The chart below shows the relationship between the average selling price per point and the buy back rate from April 2017 through April 2018. Generally, as price has risen, the buy back rate has declined and vice versa. This trend continued in 2018 until April. In April, despite a slight increase in average price per point, the buy back rate increased over 50%, month over month.

DVC Resale Price Per Point vs. DVC Buy Back Rate


What is Right of First Refusal?

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 may take up to 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 2018

Saratoga Springs, Animal Kingdom and Old Key West remain the focus of buy backs in 2018. It is notable that while 20 Bay Lake Tower contracts were bought back in 2017, there has been none thus far in 2018.

A second Grand Floridian contract for the year was bought back in April, and much like the first one it was a Guaranteed Week 50 (week before the Christmas Holiday) contract. Observationally, while Grand Floridian has never been a resort with many buy backs, it seems Guaranteed Weeks of Grand Floridian that fall on popular weeks at Disney may have a strong chance of having ROFR exercised.

Please refer to the graph below for the total amount of buy backs at each DVC resort for contracts sold by DVC Resale Market through the month of April in 2018:

Total Year-to-Date Disney Buy Backs Through ROFR

Details on DVC Buybacks

In April, DVC Resale Market had buy backs of Animal Kingdom, Boardwalk, Grand Floridian, Old Key West and Saratoga Springs. Saratoga Springs led all resorts for buy backs in April with 15, followed closely by Animal Kingdom with 12.

Details on the contracts bought back in April are below:

Resort$/PointPts. on ContractPriceClosing Costs Paid by’18 Dues Paid byUse YearPoint Availability
Animal Kingdom$100160$16,000BuyerSellerDec.0 pts.’18 + 160 pts.’19
Animal Kingdom$103160$16,480BuyerSellerJun.0 pts.’18 + 160 pts.’19
Animal Kingdom$103160$16,480BuyerBuyerDec.160 pts.’18 + 160 pts.’19
Animal Kingdom$99160$15,840BuyerSeller*Jun.158 pts.’18 + 22 pts.’19
Animal Kingdom$106160$16,960BuyerSellerMar.4 pts. ’18 + 160 pts.’19
Animal Kingdom$98100$9,800BuyerSellerMar.0 pts.’18 + 0 pts.’19
Animal KIngdom$95200$19,000BuyerBuyerAug.200 pts.’17 + 400 pts.’18 + 200 pts.’19
Animal Kingdom$102200$20,400BuyerBuyerDec.200 pts.’18 + 200 pts.’19
Animal Kingdom$100250$25,000BuyerBuyerDec.250 pts.’18 + 250 pts.’19
Animal Kingdom$100250$25,000BuyerBuyerDec.250 pts.’18 + 250 pts.’19
Animal Kingdom$100250$25,000BuyerBuyerDec.250 pts.’18 + 250 pts.’19
Animal Kingdom$102110$11,220BuyerSellerApr.0 pts.’18 + 105 pts.’19
Boardwalk$109150$16,350BuyerSellerFeb.0 pts.’18 + 150 pts.’19
Boardwalk$106150$15,900BuyerSellerMar.0 pts.’18 + 7 pts.’19
Grand Floridian**$134392$52,528BuyerSellerDec.26 pts.’18 + 392 pts.’19
Old Key West$85230$19,550BuyerPro-RateOct.200 pts.’18 + 230 pts.’19
Old Key West$87210$18,270BuyerBuyerSep.210 pts.’18 + 210 pts.’19
Old Key West$81200$16,200BuyerSellerSep.78 pts.’18 + 139 pts.’19
Old Key West$87218$18,966BuyerBuyerDec.218 pts.’18 + 218 pts.’19
Old Key West$80270$21,600BuyerSeller*Mar.100 pts.’18 + 49 pts.’19
Saratoga Springs$92300$27,600BuyerBuyerJun.351 pts.’18 + 300 pts.’19
Saratoga Springs$94190$17,860BuyerSellerJun.0 pts.’18 + 190 pts.’19
Saratoga Springs$90160$14,400BuyerSellerAug.0 pts.’18 + 160 pts.’19
Saratoga Springs$95160$15,200BuyerSellerApr.117 pts.’18 + 51 pts.’19
Saratoga Springs$90150$13,500BuyerBuyerOct.30 pts.’17 + 150 pts.’18 + 150 pts.’19
Saratoga Springs$90250$22,500SellerSellerApr.0 pts.’18 + 250 pts.’19
Saratoga Springs$91210$19,110BuyerSellerMar.0 pts.’18 + 210 pts.’19
Saratoga Springs$86210$18,060BuyerSellerFeb.0 pts.’18 + 210 pts.’19
Saratoga Springs$92350$32,200BuyerSellerJun.166 pts.’18 + 350 pts.’19
Saratoga Springs$89200$17,800BuyerSellerAug.0 pts.’18 + 200 pts.’19
Saratoga Springs$95160$15,200BuyerSellerJun.0 pts.’18 + 160 pts.’19
Saratoga Springs$92130$11,960BuyerSellerDec.4 pts.’18 + 130 pts.’19
Saratoga Springs$87400$34,800BuyerSellerJun.0 pts.’18 + 400 pts.’19
Saratoga Springs$95150$14,250BuyerPro-RateSept.48 pts.’18 + 150 pts.’19
Saratoga Springs$93210$19,530BuyerBuyerDec.210 pts.’18 + 210 pts.’19

 *Seller Provides Pro-Rated Dues Credit for 2019            **Guaranteed Week 50, 2 bedroom, standard view


Buy Back Rates for Disney Vacation Club Resorts

The table below shows the percentage of buy backs for all 5 different resorts purchased back in April:

ResortBuy BacksNumber SoldPercentage Bought Back
Saratoga Springs157121.1%
Animal Kingdom125024.0%
Old Key West52222.7%
Boardwalk222 9.1%
Grand Floridian112 8.3%


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


  • Ann M Stanko Keeley
    June 8, 2018

    Does the above chart mean that Disney has NOT bought back any HILTON HEAD ISLAND RESORT contracts?
    Also, is there any information about the ongoing remodeling there? We were in a room last summer that was
    partly remodeled, but not entirely decorated yet.

    • Nick Cotton
      June 8, 2018

      Ann, there has been just 1 Hilton Head contract bought back through DVC Resale Market in 2018 and the details to that contract are in the chart above. I don’t have any information on the remodeling of the resort though.

  • Kathleen Sue Lynch
    May 7, 2018

    That’s just my luck. A day late a dollar short. As my ROFR for OKW has just been submitted to Disney!

  • Jason
    May 3, 2018

    What do you think the unusual trend of increased price per point coupled with increase in buybacks means? Is Disney anticipating an increase in sales or are they responding to it (as a result of the Jan 2017 price increase)? Are they getting ready for the launch of Riviera sales? Or the opening of Toy Story/Star Wars/Tron?

    • Nick Cotton
      May 3, 2018

      Jason, I’m not completely sure. I do think you mentioned some great theories. I do know last quarter was one of their most outstanding for sales in DVC history, so, certainly anticipating continued strong sales is a possibility.

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