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

Disney's Animal Kingdom

In the month of September, Disney exercised their right of first refusal (ROFR) on 12 of 166 contracts sold through the DVC Resale Market, representing 7.2% of the contracts sold.  This slightly lowers the year-to-date (YTD) buy back rate to 7.8%.  In September, the buy back rate saw a modest 22% reduction, going from a rate of 9.3% in August to 7.2% in September. In September, 92.8% of contracts were waived by Disney, marginally raising the YTD waiver rate to 92.2%.

Animal Kingdom accounted for nearly half of the Disney buy backs through ROFR in September.   This now places Animal Kingdom just in front of Bay Lake Tower and Old Key West as the second most commonly DVC resort bought back in 2017.  Saratoga Springs still retains the top spot with more than double the buy backs of any other resort.  The recent buy back rate for Animal Kingdom has increased in August and September with 9 total buy backs during those two months, representing over 40% of the YTD Animal Kingdom buy backs in 2017.

September’s buy back rate of 7.2% stays fairly steady with the YTD buy back rate of 7.8%, which is trending over 70% higher than 2016’s buy back rate of 4.4%.

In September, as DVC resale prices rose month to month, the buy back rate decreased.  This inverse correlation has been consistent throughout 2017 with the exception of August, in which the buy back rate rose along with price.  This relationship between price per point and buy back rate is shown in the graph below:

Price Per Point vs. Disney 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 September of 2017:

Year-to-date Disney ROFR Chart


Details Data on DVC Buybacks

In September, 5 resorts saw buy backs.  Of the 5 resorts bought back in September, 4 of them are among the most commonly bought back: Saratoga Springs, Animal Kingdom, Old Key West and Bay Lake Tower. 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$95200$19,000BuyerSellerOct0 pts.’17 + 200 pts.’18 + 200 pts.’19
Animal Kingdom$97160$15,520BuyerSellerOct0 pts.’17 + 160 pts.’18 + 160 pts.’19
Animal Kingdom$99220$21,780BuyerPro-rateOct252 pts.’17 + 220 pts.’18 + 220 pts.’19
Animal Kingdom$89300$26,800ClosingPro-rateMar146 pts.’17 + 300 pts.’18 + 300 pts.’19
Animal Kingdom$95160$15,200BuyerBuyerDec164 pts.’17 + 160 pts.’18 + 160 pts.’19
Bay Lake Tower$108500$54,000BuyerSellerFeb0 pts.’17 + 0 pts.’18 + 70 pts.’19
Bay Lake Tower$109320$34,880BuyerSellerFeb0 pts.’17 + 0 pts.’18 + 12 pts.’19
Hilton Head$67240$16,080BuyerSellerFeb0 pts.’17 + 240 pts.’18 + 240 pts.’19
Old Key West$85230$19,550BuyerSellerOct286 pts.’17 + 230 pts.’18 + 230 pts.’19
Old Key West$79150$11,850BuyerSellerOct0 pts.’17 + 150 pts.’18 + 150 pts.’19
Saratoga Springs$90110$9,900BuyerSellerFeb0 pts.’17 + 110 pts.’18 + 110 pts.’19
Saratoga Springs$84250$21,000BuyerBuyerDec250 pts.’17 + 250 pts.’18 + 250 pts.’19

Buy Back Rates for Disney Vacation Club Resorts

There were 5 different DVC resorts bought back in September for contracts sold by DVC Resale Market.  The table below shows the percentage of buy backs for those 5 DVC resorts:

ResortBuy BacksNumber SoldPercentage Bought Back
Animal Kingdom51926.3%
Bay Lake Tower21910.5%
Hilton Head1520.0%
Old Key West21020.0%
Saratoga Springs2365.6%


  • Jennifer
    October 26, 2017

    Hi Nick – are there any buybacks at Aulani this year? I didn’t see them on the graph.

    • Nick Cotton
      October 26, 2017

      Jennifer, you are correct, we have not had any buybacks for an Aulani contract this year.

  • Aaron
    October 6, 2017

    Hi Nick

    Have you ever looked at the difference in the buyback rates between current DVC members and individuals buying into DVC for the first time?


    • Nick Cotton
      October 6, 2017

      Aaron, great question. We have looked at this, but we have never seen a correlation.

  • Aaron
    October 6, 2017

    Hi Nick,

    Have you ever looked to see if there is a difference in the buyback rates between current DVC members and individuals buying into DVC for the first time?



  • Trace
    October 1, 2017

    Did BLT have 2 or 3 buy backs?

    Thank you.

    • Nick Cotton
      October 1, 2017

      Trace – we had 2, apologies on the confusion.

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