Anyone made it through (or not made it through) ROFR recently? - Section IV

[DougEMG]

Sorry to hear about all the OKW contracts being ROFR'd. I feel your pain. I gave up earlier in the spring trying to buy OKW and instead switched to SSR where I had much better luck.

[moobar25]

Sorry to all who got ROFRd. Seems like they are snatching up all the loaded OKW contracts. Better luck next time to you all.

[michelleiada]

Originally Posted by MickeyFan612

Sent to ROFR 9/5

270 BCV (Dec) 270-2011, 270-2012
buyer pays closing seller pays 2012 maint.

Really hoping this passes I don't know though, I've seen them take back several BCV contracts on these boards

Congrats to everyone that passed this week!

Good luck!

[MickeyFan612]

Originally Posted by DougEMG

Sorry to hear about all the OKW contracts being ROFR'd. I feel your pain. I gave up earlier in the spring trying to buy OKW and instead switched to SSR where I had much better luck.

I hear you Doug.... I've switched to SSR too. Seems a much better value anyways. I may try for an OKW when Disney eventually starts taking interest in SSR

[maburke]

Originally Posted by MickeyFan612

ROFR 09/07

OKW 300 (DEC) 2011 260, 2012 300, all going forward
I was to pay closing and seller the 2012 maint. $54/pt

It was submitted Aug 1. They had it in a pile of undecided!
When they were contacted and had to make a
decision they decided to keep it!!

That is very strange. If Disney genuinely didn't make a decision for 30 days (and it wasn't just a breakdown in communication with the broker) then I thought they had lost their chance to exercise ROFR.

[MickeyFan612]

Originally Posted by ELMC

I'm not entirely sure about this because the wording of ROFR is complicated to say the least, but you may be able to challenge this. I know someone who has successfully done this in the past, so it becomes a question of whether or not you want to go through the hassle and whether or not your broker will help you. Again, I'm not saying that you have the absolute right, but it doesn't hurt to try. Good luck.

Originally Posted by maburke

That is very strange. If Disney genuinely didn't make a decision for 30 days (and it wasn't just a breakdown in communication with the broker) then I thought they had lost their chance to exercise ROFR.

I think you guys are both probably right. My broker seemed kind of shocked it hadn't shown up yet when we checked the submittal dates, but since she didn't mention taking any action I've decided not to make a big fuss over. It does stink waiting all that time but I think something better will eventually come along Perhaps my BCV will pass. That will be the one I will put up a fight over

[KAT4DISNEY]

Originally Posted by maburke

That is very strange. If Disney genuinely didn't make a decision for 30 days (and it wasn't just a breakdown in communication with the broker) then I thought they had lost their chance to exercise ROFR.

That's not the wording for ROFR. They get 30 days or until close.

[dkostel]

Got one!

VB, FEB UY, 150 points, 150 2012, all points forward.
Buyer pays closing cost. MF: 50/50
$45 per point. ($6,750)
Submitted 7/23/12, Passed 8/21/12

[DannysMom]

Originally Posted by dkostel

Got one!

VB, FEB UY, 150 points, 150 2012, all points forward.
Buyer pays closing cost. MF: 50/50
$45 per point. ($6,750)
Submitted 7/23/12, Passed 8/21/12

Congrats! If those 2012 points aren't banked yet, you might want the seller do it for you. Banking window closes at the end of the month, you may not be closed and set up with accounts to bank them yourself before month's end.

Sent from my iPad using DISBoards App, please excuse any typos.

[Disneytrish]

Hi! New here..We bought our first DVC in March-240 pnts at AKV and had our first trip in July. We stayed in a 2 bedroom villa with a safari view and fell in love!! I only purchased enough points to go every other year and of course I am addicted so I started trolling here and decided to purchase a resale DVC. I am **patiently** awaiting to hear if we made it past ROFR. Here are the details:

220 pts at Vero Beach $43 Oct use year, seller pays annual fees, buyer pays closing costs.

Offer made & accepted 8/9
Went to ROFR 8/14

I am hoping to hear something this week!

[maburke]

Originally Posted by KAT4DISNEY

That's not the wording for ROFR. They get 30 days or until close.

But how can you close without a letter waiving ROFR?

[moobar25]

Originally Posted by KAT4DISNEY

A They get 30 days or until close.

Originally Posted by maburke

B But how can you close without a letter waiving ROFR?

This is what I was wondering too. I just went through ROFR and in the process of closing. So if A is true then it means that Disney can still take my contract before I close? And how can we close without B?

What do the experts have to say? I'm new to DVC but this doesn't seem quite right.

[KAT4DISNEY]

Originally Posted by maburke

But how can you close without a letter waiving ROFR?

I looked it up again in the POS and it's a little more gray than I thought. It states that you must give them 30 days. What it doesn't state is that they automatically waive after that time if you don't hear anything. I also don't find anything that states you have to have a letter although that seems to be the process. But by stating that it only requires 30 days to decide on its right of first refusal it seems to imply that once that minimum is met you could continue with the process.

Originally Posted by moobar25

This is what I was wondering too. I just went through ROFR and in the process of closing. So if A is true then it means that Disney can still take my contract before I close? And how can we close without B?

What do the experts have to say? I'm new to DVC but this doesn't seem quite right.

I'm guessing that if you're closing they've waived ROFR? At least I haven't heard of any brokers testing this. If so none of this is applicable and is just about the situations where they haven't notified of a waiver.

[moobar25]

Originally Posted by KAT4DISNEY

I'm guessing that if you're closing they've waived ROFR? At least I haven't heard of any brokers testing this. If so none of this is applicable and is just about the situations where they haven't notified of a waiver.

I'm not asking if Disney can ROFR my contract. My contract passed ROFR hence why we are closing. What I was questioning was your statement that they have 30 days or until close. I've asked the title company and they said that, on any contract, they cannot begin closing procedures until they have a waiver of ROFR. So going by your statement - Disney has until infinity to make their ROFR decision. It just doesn't make sense.
I understand that if Disney doesn't make a decision at 30 days it isn't an automatic pass. But there should be a concrete length of time for the decision making.

[dkostel]

Originally Posted by DannysMom

Congrats! If those 2012 points aren't banked yet, you might want the seller do it for you. Banking window closes at the end of the month, you may not be closed and set up with accounts to bank them yourself before month's end.

Sent from my iPad using DISBoards App, please excuse any typos.

Thanks for the tip, I'll keep my eye on this. All paperwork/money was submitted last week. Hopefully everything will be through before the end of Sept.