Apparently resale values going up again and ROFR started again

[JasonErpelding]

Originally Posted by vegboatride

I really wanted to find the right contract with your company but there wasn’t one at the time as I do appreciate the information and advice you freely offer to everyone on this forum. Thank you.

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You are very welcome and thanks so much for the kind words.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

[Oscar10]

Hi, just looking for a bit of advice regarding the time it takes between agreeing a resale contract and having the points in my account. We have agreed yesterday a 100 point contract at SSR with a Feb use year (with 100 points left in 2020) We dont plan on going till April 2022 so would have liked to have rented the points out. Obviously the contract has to get through ROFR and then contracts have to be signed at both ends. Is it likely to have the points available around Xmas time or should I request the seller to bank the points (just in case we decide to go next year) rather than them expire.

[tigger48]

Oscar10 I’m nowhere near as knowledgeable as many of the other DVCers here but I do know that timescales are currently very protracted (even if you pass ROFR) given the Covid situation. For example, our last resale contract went to ROFR mid August, passed ROFR mid September but it wasn’t registered and fully transferred to points in our DVC account that I could use until the very end of October.
We’re currently in the ROFR queue again, but even if we pass ROFR I don’t expect to “complete” and have the contract transferred until November/December. If we pass and its any quicker I’ll be delighted 😉.
In your position I’d give serious consideration to whether I just wanted the seller to bank the Feb 2020 points into 2021 i.e. before the banking deadline expires. The points are then protected and you don’t risk losing/being unable to use them imho. Good luck.

[Helenr]

Originally Posted by Oscar10

Hi, just looking for a bit of advice regarding the time it takes between agreeing a resale contract and having the points in my account. We have agreed yesterday a 100 point contract at SSR with a Feb use year (with 100 points left in 2020) We dont plan on going till April 2022 so would have liked to have rented the points out. Obviously the contract has to get through ROFR and then contracts have to be signed at both ends. Is it likely to have the points available around Xmas time or should I request the seller to bank the points (just in case we decide to go next year) rather than them expire.

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I had an offer accepted early April, rofr was passed after 17 days, but points weren’t in my account until mid July.

It took 6 weeks from closing for the points to be loaded.

[JasonErpelding]

Originally Posted by Oscar10

Hi, just looking for a bit of advice regarding the time it takes between agreeing a resale contract and having the points in my account. We have agreed yesterday a 100 point contract at SSR with a Feb use year (with 100 points left in 2020) We dont plan on going till April 2022 so would have liked to have rented the points out. Obviously the contract has to get through ROFR and then contracts have to be signed at both ends. Is it likely to have the points available around Xmas time or should I request the seller to bank the points (just in case we decide to go next year) rather than them expire.

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I would recommend that you have the seller bank the points now and then be sure that an addendum is sent to you and the seller showing the 2020 points have been banked.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

[Oscar10]

Thanks for replies I have requested the points to be banked. Thanks Jason for your initial help a couple of weeks ago unfortunately I couldn’t find a contract with you hopefully next time

[YorkshireT]

Originally Posted by Oscar10

Hi, just looking for a bit of advice regarding the time it takes between agreeing a resale contract and having the points in my account. We have agreed yesterday a 100 point contract at SSR with a Feb use year (with 100 points left in 2020) We dont plan on going till April 2022 so would have liked to have rented the points out. Obviously the contract has to get through ROFR and then contracts have to be signed at both ends. Is it likely to have the points available around Xmas time or should I request the seller to bank the points (just in case we decide to go next year) rather than them expire.

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I’ve had it 4 weeks to 3 months.

I’d bank the points probably- when is the use year, banking deadline is 4 months before.

[Oscar10]

Feb use year

[JasonErpelding]

Originally Posted by Oscar10

Thanks for replies I have requested the points to be banked. Thanks Jason for your initial help a couple of weeks ago unfortunately I couldn’t find a contract with you hopefully next time

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You're welcome and you made the right decision having the points banked. Fingers crossed Disney moves quick for you.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

[cmf290]

We waited about 6 weeks for Disney to decline their ROFR and out contract went ahead ($50/point at Vero). I was surprised they didn't exercise ROFR at that price but well pleased.

I've also been waiting 9 weeks since the title company sent the papers to DVC. Apparently DVC staff are working from home and timescales for completion have almost doubled.