Difficulties with Seller

[DisneyKeepsUsYoung]

Is it possible for a seller to back out even after ROFR and Estopple? Due to some issues that are coming to light since we signed our offer contract, I'm afraid that even IF this does go to Disney for ROFR, there's a chance the seller won't close on it. Is that possible? I do NOT want to wait 2-3 months, pass and still not have a DVC purchase.

 

[GrnMtnMan]

Is it possible for a seller to back out even after ROFR and Estopple?

Yes, seller can back out any time s/he likes. S/he might owe something to somebody if they do so, but that would be spelled out in the contract.

 

[supersnoop]

Any deal can fall apart at any time. If the seller backs out, they'll owe the commission to the broker, and you'll get back your deposit.

 

[DisneyKeepsUsYoung]

So them still owing the commission is the built in "motivation" to make them go through with the sale? The RE agent is suggesting to me to consider backing out due to what he's hearing on his side. I'm not sure if I should or if I should give them a few more days. One of the sellers is "incapacitated" so they are having a hard time getting both signatures.

 

[GrnMtnMan]

So them still owing the commission is the built in "motivation" to make them go through with the sale? The RE agent is suggesting to me to consider backing out due to what he's hearing on his side. I'm not sure if I should or if I should give them a few more days. One of the sellers is "incapacitated" so they are having a hard time getting both signatures.

Sellers usually want to *sell*, so that''s usually motivation enough....they want the money.

And usually the buyer is not owed anything other than the deposit back if the deal falls through. A realtor may waive whatever they are owed, if they are understanding of the circumstances, but that's not really the business of the buyer.

Why don't you post the specifics, so you can get specific advice. If the sellers are saying they might not be able to close *before* its gone to ROFR, then I'd personally start looking elsewhere.

 

[DisneyKeepsUsYoung]

We've signed our offer contract and are waiting for the buyers to sign theirs. It's a full price offer. I was notified by the agent today that one seller is "incapacitated" and they are having a hard time getting the contract signed. So we should consider backing out now while we can. So in wondering IF this signature gets done and it actually does go to ROFR what if they have an even harder time 2-3 months from now to get that needed signature. So I was wondering IF we got that far in the process if we could likely still be left with no purchase. So I don't know if I should give then a few more days to get their stuff straightened out or if I should walk away now as the agent doesn't sound confidant in the way it's going. It has points that expire end Nov that we were assuming we could use even if just SSR. But maybe not if the seller can't get things signed.

 

[ziravan]

Sounds like the seller needs to go back to formula and do the legal work to bypass the incapacitated seller before putting the contract on the market.

Honestly, that could take months. Unless you want to wait 6-8 months to (maybe) close, I'd bail. It sounds to me that's what you got here: a very lengthy legal delay.

My take: there are plenty of fish in the sea. No contract is worth this kind of risk. If you're like me and will sweat every minute of the process until points are in your account, adding months to that timeline is a deal breaker.

 

[tasha99]

We've signed our offer contract and are waiting for the buyers to sign theirs. It's a full price offer. I was notified by the agent today that one seller is "incapacitated" and they are having a hard time getting the contract signed. So we should consider backing out now while we can. So in wondering IF this signature gets done and it actually does go to ROFR what if they have an even harder time 2-3 months from now to get that needed signature. So I was wondering IF we got that far in the process if we could likely still be left with no purchase. So I don't know if I should give then a few more days to get their stuff straightened out or if I should walk away now as the agent doesn't sound confidant in the way it's going. It has points that expire end Nov that we were assuming we could use even if just SSR. But maybe not if the seller can't get things signed.

It's taking up to 3 months for the points to be useable now, so that puts you into end of august. September will be right around the corner and possibly fully booked. Oct/Nov are high demand for dvc and mostly booked already. I would be looking at another contract.

 

[sndral]

If the agent who depends on selling the contract to make his/her commission is telling you to bail, I think you should follow that advice and find another contract to buy.

 

[DisneyKeepsUsYoung]

Turns out it was a divorce situation. The "incapacitated" seller ended up signing but the other party didn't. So we cancelled and have an offer on another contract. Our third offer so hopefully this one will actually go somewhere. Good thing I researched this board like crazy before we started this process so I was prepared for the long slowness of the resale process!

 

[DisneyKeepsUsYoung]

So incase anyone sees a fully loaded (2013,14,15,16 points) with Dec UY go back up on TSS, good luck getting the seller to sign!!!