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$/PointPts. on ContractPriceClosing Costs Paid by’17 Dues Paid byUse YearPoint Availability
Animal Kingdom$91220$20,020BuyerBuyerDec440 pts.’17 + 220 pts.’18
Animal Kingdom$88200$17,600BuyerSellerDec0 pts.’17 + 200 pts.’18
Animal Kingdom$95200$19,000BuyerPro-RateDec165 pts.’17 + 200 pts.’18
Animal Kingdom$95110$10,450BuyerSellerSep25 pts.’17 + 85 pts.’18
Bay Lake Tower$110160$17,600BuyerSellerFeb0 pts.’17 + 12 pts.’18
Bay Lake Tower$110160$17,600BuyerSellerFeb0 pts.’17 + 0 pts.’18
Bay Lake Tower$115200$23,000BuyerBuyerAug340 pts.’17 + 85 pts.’18
Boulder Ridge$88100$8,800BuyerSellerMar0 pts.’17 + 100 pts.’18
Boulder Ridge$87400$34,800BuyerBuyerAug800 pts.’17 + 400 pts.’18
Old Key West$76230$17,480BuyerSellerDec4 pts.’17 + 230 pts.’18
Old Key West$75200$15,000BuyerSellerFeb0 pts.’17 + 200 pts.’18
Saratoga Springs$87160$13,920BuyerSellerFeb26 pts.’17 + 184 pts.’18
Saratoga Springs$90250$22,500BuyerSellerMar115 pts.’17 + 250 pts.’18
Saratoga Springs$79150$11,850BuyerSellerFeb0 pts.’17 + 0 pts.’18
Saratoga Springs$87150$13,050BuyerSellerFeb0 pts.’17 + 150 pts.’18
Saratoga Springs$88200$17,600BuyerPro-RateMar104 pts.’17 + 200 pts.’18
Saratoga Springs$89150$13,350BuyerPro-RateSep88 pts.’17 + 150 pts.’18
Saratoga Springs$90110$9,900BuyerSellerMar0 pts.’17 + 110 pts.’18
Saratoga Springs$85175$14,875BuyerPro-RateSep127 pts.’17 + 175 pts.’19
Saratoga Springs$85200$17,000BuyerBuyerSep200 pts.’17 + 200 pts.’18
Vero Beach$60200$12,000BuyerPro-RateJun84 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:

ResortBuy BacksNumber SoldPercentage Bought Back
Animal Kingdom4468.7%
Bay Lake Tower32114.3%
Boulder Ridge21118.2%
Old Key West21020.0%
Saratoga Springs94719.1%
Vero Beach1520.0%


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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