View Full Version : What's Happens when....
02-10-2004, 08:49 AM
...you don't pass ROFR? Does Disney buy the points or does it go back into the resales at a higher cost???
02-10-2004, 08:52 AM
ROFR stand for right of first refusal. If it doesnt "get passed" forf, it means Disney excercised its right to buy the contract.
02-10-2004, 01:37 PM
You do have the option to counter-offer if you are comfortable increasing your initial offer. I believe to do so, you need to let the seller know a.s.a.p. so they can make DVC aware of your intentions.
We are currently involved in that process right now and are hoping we will pass ROFR the second time around. If not, we will just start looking for a different resale.
02-10-2004, 01:56 PM
Even getting the option to counter offer is iffey. We didnt even know that Disney had taken our contract until two weeks after they had closed. If you dont have a good broker, you may not be kept up to date, because Disney notifys the seller not the broker.
02-10-2004, 02:07 PM
I think it's because many sellers don't realize a counter-offer can be accepted. I'm sure if they knew, a lot more of them would ask their buyers if they want to submit a new offer - afterall, whether it's the buyer or DVC, it's more money in the seller's pocket!
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