DVC Right of First Refusal (ROFR): August ’17 Report

Disney's Saratoga Springs Resort & Spa

In the month of August, Disney exercised their right of first refusal (ROFR) on 21 of 227 contracts sold through the DVC Resale Market, representing 9.3% of the contracts sold.  This raises the year-to-date (YTD) buyback rate to 7.8%.  In August, the buyback rate increased nearly 300% month to month, going from a rate of 2.4% in July to 9.3% in August. In August, 90.7% of contracts were waived by Disney, lowering the YTD waiver rate to 92.2%.

The month of August saw the highest buyback rate since February of this year.  Additionally, August was the first month in 2017 in which the average resale price increased and the buyback rate did not behave inversely.  Typically, every month resale prices have increased, the buy rate has decreased.  However, in August despite the average resale price increasing from approximately $101/pt. to $104/pt., the buy rate increased. Perhaps this could be signally a potential future price increase from Disney or perhaps it’s a result of approaching the end of the fiscal year (September 30th) with additional funds for buying back inventory.

In August, as DVC resale prices rose, the buy rate dramatically increased, which was a complete reversal from every month thus far in 2017.  This relationship between price per point and buyback rate is shown in the graph below:


Price Per Points vs. Buy Back Rate 2017

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 2017

Please refer to the graph below for the total amount of buy backs at each DVC resort for contracts sold through the DVC Resale Market year-to-date through August of 2017:

Number of Contracts Bought Back in 2017


Details Data on DVC Buybacks

In August, 6 resorts saw buy backs.  Of the 6 resorts bought back in August, 4 of them are among the most commonly bought back:  Saratoga Springs, Old Key West, Bay Lake Tower and Animal Kingdom. For details on those contracts that were acquired back, please see the table below:

Resort $/Point Pts. on Contract Price Closing Costs Paid by ’17 Dues Paid by Use Year Point Availability
Animal Kingdom $91 220 $20,020 Buyer Buyer Dec 440 pts.’17 + 220 pts.’18
Animal Kingdom $88 200 $17,600 Buyer Seller Dec 0 pts.’17 + 200 pts.’18
Animal Kingdom $95 200 $19,000 Buyer Pro-Rate Dec 165 pts.’17 + 200 pts.’18
Animal Kingdom $95 110 $10,450 Buyer Seller Sep 25 pts.’17 + 85 pts.’18
Bay Lake Tower $110 160 $17,600 Buyer Seller Feb 0 pts.’17 + 12 pts.’18
Bay Lake Tower $110 160 $17,600 Buyer Seller Feb 0 pts.’17 + 0 pts.’18
Bay Lake Tower $115 200 $23,000 Buyer Buyer Aug 340 pts.’17 + 85 pts.’18
Boulder Ridge $88 100 $8,800 Buyer Seller Mar 0 pts.’17 + 100 pts.’18
Boulder Ridge $87 400 $34,800 Buyer Buyer Aug 800 pts.’17 + 400 pts.’18
Old Key West $76 230 $17,480 Buyer Seller Dec 4 pts.’17 + 230 pts.’18
Old Key West $75 200 $15,000 Buyer Seller Feb 0 pts.’17 + 200 pts.’18
Saratoga Springs $87 160 $13,920 Buyer Seller Feb 26 pts.’17 + 184 pts.’18
Saratoga Springs $90 250 $22,500 Buyer Seller Mar 115 pts.’17 + 250 pts.’18
Saratoga Springs $79 150 $11,850 Buyer Seller Feb 0 pts.’17 + 0 pts.’18
Saratoga Springs $87 150 $13,050 Buyer Seller Feb 0 pts.’17 + 150 pts.’18
Saratoga Springs $88 200 $17,600 Buyer Pro-Rate Mar 104 pts.’17 + 200 pts.’18
Saratoga Springs $89 150 $13,350 Buyer Pro-Rate Sep 88 pts.’17 + 150 pts.’18
Saratoga Springs $90 110 $9,900 Buyer Seller Mar 0 pts.’17 + 110 pts.’18
Saratoga Springs $85 175 $14,875 Buyer Pro-Rate Sep 127 pts.’17 + 175 pts.’19
Saratoga Springs $85 200 $17,000 Buyer Buyer Sep 200 pts.’17 + 200 pts.’18
Vero Beach $60 200 $12,000 Buyer Pro-Rate Jun 84 pts.’17 + 200 pts.’18

Buy Back Rates for Disney Vacation Club Resorts

There were 6 different DVC resorts bought back in August for contracts sold by DVC Resale Market.  The table below shows the percentage of buybacks for those 6 resorts:

Resort Buy Backs Number Sold Percentage Bought Back
Animal Kingdom 4 46 8.7%
Bay Lake Tower 3 21 14.3%
Boulder Ridge 2 11 18.2%
Old Key West 2 10 20.0%
Saratoga Springs 9 47 19.1%
Vero Beach 1 5 20.0%


Learn more about buying and selling with DVC Resale Market.


  • Robert
    September 28, 2017

    Is it possible to see the contracts they didn’t buy? I want to see what they considered reasonable bids. Thanks.

    • Nick Cotton
      September 28, 2017

      Robert, great question. While we do not have a complete list to share, certainly if there is a particular resort and point size you are interested in we can talk you through recent comparable sales over the phone. Generally, right now many listings are selling for close to asking price given it is a seller’s market with very limited inventory (over 90% of listings selling in under 7 days). For example, there were over 1,300 listings in January, now there are less than 400.

  • Ed Lee
    September 21, 2017

    I am a current DVC owner with 2 December contracts at the Boardwalk.

    If I bought another aftermarket contract what would happen should l need to use some of those points to complete a reservation?

    Just say it’s half the points are aftermarket,how would / could this affect the reservation?


    • Nick Cotton
      September 21, 2017

      Thank you for your question. You can use resale points with direct points for reservations at any of the 14 DVC Resorts or World Collection (RCI).

  • Clay
    September 19, 2017

    Is there detail on when the buyback’s occur? Meaning is Disney more likely to execute ROFR earlier vs later in the month?

    • Nick Cotton
      September 19, 2017


      Great question. To date we have never seen a correlation with the time of the month in regards to buybacks.

  • Joe
    September 13, 2017

    Can I add my children’s name to my deeds? Yes they are adults.

    • Nick Cotton
      September 13, 2017

      Joe, yes, as long as they are 18 or older and there are no liens (i.e., loan on contract has been paid off if ever taken out).

  • Julie
    September 5, 2017

    I’m already a DVC Member looking to buy more points at resale. I read that I would not get the extra member perks if I bought points this way, but how does that work if one is already a member? Thanks.

  • PatKC
    September 2, 2017

    I’m confused about ROFR when I want to add someone’s name to my deed. I understand all of the paperwork that’s legally necessary but adding someone’s name shouldn’t been such a big hassle when it’s someone who’s been with me every time I’ve visited. I’m confused about the possibility of losing my contract.

    • Nick Cotton
      September 2, 2017

      PatKC, if it is a gratuitous transfer or just adding a name it does not have to go through ROFR.

      • PatKC
        September 2, 2017

        Thank you for the information.

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