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View Full Version : ??? About ROFR with DVC buying


BillM
02-23-2003, 02:16 PM
If We listed points for sale with a broker and DVC exercises the ROFR and purchases do we still pay the closing costs on the sale? Also I assume we would still owe commission to the broker. Has anyone had this happen??

CarolMN
02-23-2003, 02:53 PM
Originally posted by BillM
If We listed points for sale with a broker and DVC exercises the ROFR and purchases do we still pay the closing costs on the sale? Also I assume we would still owe commission to the broker. Has anyone had this happen??

If Disney exercises its ROFR, it becomes the buyer and agrees to all the terms that the original buyer agreed to. If you agreed to pay closing costs in the original sales agreement (usually the buyer pays closing, not the seller), you would still pay closing costs. Yes, you would still pay the broker's commission (assuming you were going to in the original agreement).

As the seller, it shouldn't matter to you who the buyer is - you will still have the exact same deal with Disney as you had with the person who agreed to buy your points. ROFR just means that Disney just has the right to be the buyer (or not, at its discretion) for the same terms you agree to with another buyer.