DVC Right of First Refusal (ROFR): November ’16 Report

December 4, 2016 by Nick Cotton

In the month of November, Disney exercised their right of first refusal (ROFR) on 12 contracts sold through the DVC Resale Market, representing roughly 10.5% of the contracts sold in that same month. The 10.5% percentage of buy backs is more than double the year-to-date percentage of 4.3%. Additionally, November set a record for the most contracts bought back through ROFR in 2016 from the DVC Resale Market.

Nearly all the buy backs in November consisted of Bay Lake Tower and Boardwalk. Those two resorts included 11 of the 12 buy backs in November. This continues a 3 month trend of Bay Lake Tower and Boardwalk dominating the buy backs (24 of the last 28). Not surprisingly, those two resorts have taken over the top 2 spots year-to-date on the number of contracts excercised in ROFR as seen below:

During this heavy buy back trend for Bay Lake Tower, contracts over $110/pt. were typically not touched until this past month. In November, two Bay Lake Tower contracts were bought back at over $110/pt. These two buy backs included a 160 point contract at $111/pt. and a 200 point contract at $113/pt. However, the vast majority of Bay Lake Tower contracts sold over $110/pt. did get waived. In the course of this recent trend, the top buy back price of Boardwalk also got raised in November from $97/pt. to $99.5/pt.

For the 3rd straight month, high point availability was not common with the majority of contracts bought back. While many of the contracts did have some 2016 points available, the most common trait for contracts being bought back was the resort being either Bay Lake Tower or Boardwalk.

*Resort*	*Price Per Point*	*Points on Contract*	*Price*	*Closing Costs Paid by*	*2016 Annual Dues Paid by*	*Use Year*	*Point Availability*
*Bay Lake Tower*	$108	175	$18,900	Buyer	Seller	Dec.	175 Pts. ’16 + 175 Pts. ’17
*Bay Lake Tower*	$111	160	$17,760	Buyer	Seller	Dec.	186 Pts. ’16 + 160 Pts. ’17
*Bay Lake Tower*	$88	500	$44,000	Buyer	Seller	Dec.	360 Pts. ’16 + 500 Pts. ’17
*Bay Lake Tower*	$106	160	$16,960	Seller	Seller	Dec.	0 Pts. ’16 + 160 Pts. ’17
*Bay Lake Tower*	$113	200	$22,600	Buyer	Seller	Mar.	72 Pts. ’16 + 200 Pts. ’17
*Bay Lake Tower*	$101	160	$16,160	Buyer	*Seller	Feb.	0 Pts. ’16 + 0 Pts. ’17 + 160 Pts. ’18
*Bay Lake Tower*	$101	160	$16,160	Buyer	*Seller	Feb.	0 Pts. ’16 + 0 Pts. ’17 + 160 Pts. ’18
*Boardwalk*	$99	200	$19,800	Buyer	Seller	Jun.	200 Pts. ’16 + 200 Pts. ’17
*Boardwalk*	$96	150	$14,400	Buyer	Seller	Feb.	130 Pts. ’16 + 150 Pts. ’17
*Boardwalk*	$99.50	150	$14,925	Seller	Seller	Dec.	148 Pts. ’16 + 150 Pts. ’17
*Boardwalk*	$89	100	$8,900	Buyer	*Seller	Dec.	0 Pts. ’16 + 0 Pts. ’17 + 100 Pts. ’18
*Saratoga Springs*	$87	210	$18,270	Buyer	Seller	Mar.	420 Pts. ’16 + 210 Pts. ’17

* Seller provided credit to buyer at closing for 2017 annual dues

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Filed in Bay Lake Tower, Boardwalk, Disney Vacation Club, ROFR, Saratoga Springs

Written by Nick Cotton

Nick is currently Chief Executive Officer for World of DVC. At Disney Vacation Club he became the top performing guide from 2008-2014. Nick led many training sessions for DVC for both the land and cruise teams. Nick is also the proud parent of Alexandria and Jackson. Nick’s favorite Disney memory is walking down Main Street USA at the Disneyland Park in California when he was 7 years old on his first Disney trip thinking this is the most amazing place on Earth.