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View Full Version : if you pass ROFR is there anything else that can go wrong?


MIALIAS
05-02-2012, 03:06 PM
in other words is it just waiting for all the fine details but we can consider the deal done -- and just a few weeks away from being a memeber?

thanks!

disneynutz
05-02-2012, 03:08 PM
Any business transaction isn't a done deal until it's done.

:earsboy: Bill

princesscinderella
05-02-2012, 03:17 PM
The seller could back out or you as the buyer could back out and lose your deposit. It's not done until the money has changed hands and the deed is in your name. That's why title insurance exists because even after you think it's done unforeseen issues could arrive after closing.

fmer55
05-02-2012, 03:34 PM
in other words is it just waiting for all the fine details but we can consider the deal done -- and just a few weeks away from being a memeber?

thanks!

I would not consider signing closing docs and making final payment minor details, not to alarm you but there is a poster here who's seller has been out of the country for what feels like a month.....just answering the question, good luck!

cvjw
05-02-2012, 04:02 PM
We had to cancel a contract after passing ROFR because the sellers would not get their closing documents back. A month after passing ROFR, and the seller would not take the agent's phone calls, or return documents - so we cut our losses with the contract and found another one. We also had a 2 week delay in another contract after passing ROFR because the seller was behind on their MF's, and the ONE person at DVC that could fix the problem was on vacation.

Yes, things can happen after ROFR. I'm sure my issues weren't the norm, but they did happen. 2 out of our 5 contracts that passed ROFR had issues.

permavac
05-02-2012, 04:04 PM
So the consensus is: Feel free to worry about whether or not you will actually close for the next month :rotfl2:

Just hang in there OP - I am on my 2nd resale purchase. I was worried up until it passed ROFR (today!!! yeah!) and right after my excitement and relief waned I started to worry about closing ;) It's silly, but we're human after all. Could something happen to thwart your purchase? Yes (those things mentioned by other posters). Is it likely? No. ROFR is the REAL hurdle. Just relax and keep on top of the deadlines and call your agent if things are not on time. Good luck!

Terri

ELMC
05-02-2012, 04:58 PM
in other words is it just waiting for all the fine details but we can consider the deal done -- and just a few weeks away from being a memeber?

thanks!

I'm going to hang out in the middle ground on this one. It's by no means a done deal yet. But I wouldn't worry about it either. How's that for noncommittal?

Caren90
05-02-2012, 05:09 PM
So the consensus is: Feel free to worry about whether or not you will actually close for the next month :rotfl2:

Just hang in there OP - I am on my 2nd resale purchase. I was worried up until it passed ROFR (today!!! yeah!) and right after my excitement and relief waned I started to worry about closing ;) It's silly, but we're human after all. Could something happen to thwart your purchase? Yes (those things mentioned by other posters). Is it likely? No. ROFR is the REAL hurdle. Just relax and keep on top of the deadlines and call your agent if things are not on time. Good luck!

Terri

Yes OP, things can go wrong, but as the poster above states; "just relax" and let the process play itself out.

I have purchased 7 contracts in the past year and they all closed after passing ROFR ( a couple of others did not pass ROFR but I simply went back and looked for another resale). Some sooner than others, but they all closed.
Good luck.
Stephen

MIALIAS
05-02-2012, 05:42 PM
thanks all!

Tunseeker1
05-02-2012, 06:39 PM
The resort could explode? :confused3

DizBub
05-02-2012, 10:56 PM
I would not consider signing closing docs and making final payment minor details, not to alarm you but there is a poster here who's seller has been out of the country for what feels like a month.....just answering the question, good luck!

This is probably me. :rolleyes1

We passed ROFR on 3/8. Supposed to close by 3/30. I know we probably should walk away but are already so invested in this and don't want to start all over again. (Plus it's a fully loaded contract at a great price.) Giving them at least another week. I know stuff happens that people have no control over. Maybe we are just suckers for giving people the benefit of the doubt.

Good luck!!

Debbie Jean
05-03-2012, 05:30 PM
Well, I usually say, if you expect the worst to happen, you can only have nice surprises! :lmao:

But in this case... I have done 2 resale add-on's without major incident, so I think the odds are in your favor to successfully complete the transaction! :thumbsup2

JimMIA
05-03-2012, 07:30 PM
I'm going to hang out in the middle ground on this one. It's by no means a done deal yet. But I wouldn't worry about it either. How's that for noncommittal?
ELMC feels strongly both ways! And that's not a criticism -- I happen to agree with them.

"It ain't over until the Fat Lady sings."

"It ain't over until WE say it's over!"

Take your pick.

But you'll probably be fine. Good luck.