calculating points/ other questions

[goofy78]

If you read the documents carefully, Disney can exercise ROFR anytime up to the date of closing. They have a practice of exercising or waiving ROFR approx thirty days before closing, which is why a broker will always try to set a target closing date, so that Disney exercises or waives. So it is not 30 days after submittal. It is 30 days prior to closing. In practice, this can look the same, because most brokers will allow 2 months to clear ROFR and Estoppel.

Are peoples contract regarding ROFR different? I re-read my contract and can not see where it states the ROFR time frame information?

 

[miTnosnhoJ]

Here is the section on ROFR from the VGF Declaration of Condominium - Page 31

13. ALIENABILITY OF UNITS OR OWNERSHIP INTERESTS.
13.1 Alienability Restrictions; DVD's Right of FirstRefusaltoPurchase.The rightofOwners orCotenants
to sell,transfer,assign or hypothecatetheirUnitor Ownership Interestis not subjectto the approvalof the
Association.Accordingly,a propertransferor conveyance of such Unitor Ownership Interestdoes notrequirethe
writtenapprovaloftheAssociation.However,ifan Owner orCotenantdesirestosell,transfer,assignorhypothecate
thatOwner's UnitorOwnership interest,DVD has therightoffirstrefusaltopurchasetheUnitorOwnership Interest
inthe Unitunderthesame termsand conditionsas areofferedtoor by a bona fidethirdparty,includingfinancing.
Accordingly,Owners or CotenantsdesiringtoselltheirUnitor Ownership Interestmust notifyDVD inwritingno less
than thirty(30)days inadvance ofthe proposed closingdate oftheirintentoselland must includea copy ofthe
proposedtransactionreducedtowritinginallrespects.On receiptofsuch writtennotice,DVD may determinepriorto
theproposedclosingdatewhethertoexerciseitsrightoffirstrefusalsetforthinthisSection13.1.IfDVD electsto
exerciseitsrightoffirstrefusal,DVD must notifytheOwner orCotenantinwritingofsuch election,and thepurchase
by DVD must be closedon or beforethe proposedclosingdate.IfDVD failstonotifytheOwner or Cotenantof its
electionto exerciseitsrightof firstrefusalpriorto the proposed closingdate,then the Owner or Cotenantmay
proceedtocloseon thetransactionwithsuch bona fidethirdparty.Inallevents,membership intheDisneyVacation
Club,inaccordancewiththisDeclaration,and DVD's rightoffirstrefusal,as setforthabove,arecovenantsrunning
withthe land.Furthermore,subjectto the Condominium Documents, Membership inthe Disney VacationClub is
always a requirementof any successor in titleto an Owner or Cotenant and is an appurtenance to each
Condominium Parcel.IN ADDITION, ANY PERMITTED SALE BETWEEN AN OWNER OR COTENANT AND A
BONA FIDE THIRD PARTY IS DEEMED TO CONTAIN A PROVISION REQUIRING THAT ANY SUMS DUE TO
THE ASSOCIATION AS ASSESSMENTS MUST BE PAID IN FULL AS A CONDITION OF CLOSING OF THE
SALE.