Contract sent to Disney but seller has an upcoming reservation.

Discussion in 'Purchasing DVC' started by ttepsich, Oct 10, 2012.

  1. ttepsich

    ttepsich Mouseketeer

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    Please help! We just had a contract sent to Disney today for ROFR but the seller has a reservation for Oct. 19. Will Disney automatically exercise ROFR if this is the case? It's too late to call Sharon at Fidelity to check. I have been searching for this kind of contract for about a year:scared:. For some reason I thought the contract wouldn't be sent to Disney until after their reservation was complete. Does anyone know the answer?
     
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  3. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    There isn't any reason for Disney to automatically ROFR the contract. Did the contract show the pending reservation? We have 2 contracts scheduled to close at the end of the month due to a pending reservation, no big deal unless it wasn't disclosed.

    :earsboy: Bill
     
  4. JimMIA

    JimMIA A little Miami humor...

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    If the contract went to closing, DVC would cancel the reservation. But there is no reason to think there would be any impact one way or the other on their ROFR decision.

    A near-term reservation like this should not be any problem unless it changes the number of points you think you are getting. The reservation should have been fully disclosed, of course, as Bill already noted.
     
  5. ttepsich

    ttepsich Mouseketeer

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    Yes, the contract says that closing shall occur after the sellers reservation ends on Oct 19th. I don't know why I was thinking it would be in jeopardy if it was sent to ROFR before their trip was complete. Probably because I was negotiating the offer while on my cellphone in rush hour traffic (I was hands-free)! I wasn't going to let another contract get away from me because I wasn't quick enough. Hopefully the points that were listed remain the same. It is a nicely loaded contract. (pending passing ROFR of course) Thanks for the quick responses!
     
  6. Sandisw

    Sandisw Moderator Moderator

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    Sold two contracts that had delayed closing because I had reservations and didn't want to sell until those were over. One had a delayed closing of 4 months and the other one had a delayed closing of about 6 weeks.

    It didn't stop Disney from reviewing and we passed both times in less than 3 weeks.
     
  7. ttepsich

    ttepsich Mouseketeer

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    Who did you sell through, if I may ask? We have used TSS in the past and they were very speedy. I understand Fidelity usually takes a little longer. This is the worst part.....the waiting!
     
  8. ace21

    ace21 Earning My Ears

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    No Worries, we just closed on our 250 OKW with a pending reservation.

    Good Luck Getting Past ROFR!

    :banana::banana::banana::banana::banana:

    Here are some bananas for that monkey
     
  9. Sandisw

    Sandisw Moderator Moderator

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    We used TSS and another big company. Both times, things went along schedule and the contracts closed the day after we checked out of the reservation.
     

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