Does amending a contrat restart the ROFR 30 day clock?

[Sheri in CT]

After 2 weeks of waiting, Disney discovered that my UY was wrong We amended the contract. Did I lose 2 weeks?

 

[ImagineerTHAT]

After 2 weeks of waiting, Disney discovered that my UY was wrong We amended the contract. Did I lose 2 weeks?

I would assume that contractually they have another 30 days of ROFR due to the amendment. That being said they have obviously already started reviewing your contract, so I wouldn't worry.

I guess it also depends on if they left the submission date and just amended the UY section or if they resubmitted altogether.

Good luck!

 

[Dean]

After 2 weeks of waiting, Disney discovered that my UY was wrong We amended the contract. Did I lose 2 weeks?

Technically yes, they will have another 30 days.

 

[maburke]

After 2 weeks of waiting, Disney discovered that my UY was wrong We amended the contract. Did I lose 2 weeks?

WOW! That's a big mess-up! Is it not the UY that was in the listing? (Meaning, are you not getting the UY you thought you were getting?) Or was it just a mistake in the paperwork they submitted? Which broker are you using?

 

[kkolbusz1]

Ours went on March 21st & ammended on April 1st. It didn't get pushed back too much, but it did take over 30 days. I think it was 32 if you count wkends.

 

[ImagineerTHAT]

Ours went on March 21st & ammended on April 1st. It didn't get pushed back too much, but it did take over 30 days. I think it was 32 if you count wkends.

I'm looking at the escrow document from my title company and it says "if you choose to add or delete any part of the title, it will prompt the ROFR process to start over again." I would have to agree that they technically do have another 30 days.

 

[drusba]

The rule is that you need to submit a final contract to Disney no less than 30 days before closing. It actually has up until just before closing to exercise ROFR whether you submit the contract to it 30 days out or more. Thus, the real issue is when is your estimated closing date. If it is still 30 days or more out, you will not be losing anything; if the newly signed sale documents are given to Disney less than 30 days out, you may need to move the closing date to at least 30 days out.

 

[Dean]

The rule is that you need to submit a final contract to Disney no less than 30 days before closing. It actually has up until just before closing to exercise ROFR whether you submit the contract to it 30 days out or more. Thus, the real issue is when is your estimated closing date. If it is still 30 days or more out, you will not be losing anything; if the newly signed sale documents are given to Disney less than 30 days out, you may need to move the closing date to at least 30 days out.

Just make sure they don't move the closing date our further than necessary, they have a tendency to give extra time in this situation, I'd insist otherwise.

 

[Sheri in CT]

WOW! That's a big mess-up! Is it not the UY that was in the listing? (Meaning, are you not getting the UY you thought you were getting?) Or was it just a mistake in the paperwork they submitted? Which broker are you using?

Yes, and I am a little annoyed. The broker listed it incorrectly. She claims the owner gave her the wrong info.

 

[dbs1228]

Yes, and I am a little annoyed. The broker listed it incorrectly. She claims the owner gave her the wrong info.

Regardless what the owner "says or details they give the broker" it is the brokers JOB to verify ALL the information # of points, UY and status of existing contract!!!!! I would ask your broker why she did not do her job that she is being paid for!

 

[maburke]

Regardless what the owner "says or details they give the broker" it is the brokers JOB to verify ALL the information # of points, UY and status of existing contract!!!!! I would ask your broker why she did not do her job that she is being paid for!

Seriously! That could be dealbreaker! (It would be for me, but having a uniform UY is very important to me.) If I did go ahead with it, and it was Fidelity, I sure wouldn't be paying that $195 fee.