Does it Really take 30 days?

[geovaz641]

Does ROFR take 30 business days or 30 calendar days? and does it really take the whole 30 days wether its calendar or business?
If anyone that has recently passed ROFR tell me how long it took them to pass their ROFR I would really appreciate it.

Thanks

 

[DVCconvert]

I just passed and it was 28 calendar days.

 

[Buckeye Fan]

My guess is that it will take the full 30 days or close to it. Technically, you just have to give Disney at least 30 days before you close. Most of the time, they notify the brokers, but if you haven't heard back after 30 days, Disney will allow the contract to close. Looking at resales, there are fewer "for sale" listings than "sale pending" listings, so that means they are all being shipped to Disney around the same time. Unless Disney is just giving them a "stamp of approval" without reviewing, they are going to be flooded with contracts in the next month.

 

[palaemon]

I'm not sure if legally it's business or calendar days, but everyone seems to pass in just under 30 calendar days.

 

[DenLo]

In the Master Declaration for your resort under Article 13.1, it spells it out, that the seller must notify DVD 30 days before closing and that during that 30 days DVD can assert the right of first refusal and purchase the contract for the agreed amount.

So technically the resale agency can go ahead and set up a closing date when they submit the contract to ROFR. However, I don't think they do though because they only want to schedule contracts that are not ROFRd. I believe they will give you a tentative date and that's the date I would expect to close. Of course it will depend on whether the owners and you get all of the final paper work back in time after ROFR. Sometimes there's delays on either side. I believe we got the final documents and and returned to the sales agent, 12 days before the sellers did. So until the sellers returned the documents the closing was not scheduled.

I've seen posts here on the DIS that there is a board that does the ROFRs for DVD and they meet once a month, but the actual meeting dates varies. So all ROFRs for a month are done on the same day.

 

[juncker]

We just cleared ROFR in 28 calendar days on Feb 16th. I think it is supposed to be 30 calendar days at the max.

 

[csharpwv]

Our 30 days on our HHI contract come to a close this coming Friday, so we are holding out hope that we pass!
We are getting a great deal on a GREAT contract and we really want to pass ROFR!

This will be our fourth 'home' resort - where do you call home when you own more than one? HAHAHA

I am pretty positive that this is our last bout of Addonitis!

If this passes ROFR we will have added on every year since we became members. The madness has to end!

With DVC it was love at first bite! LOL The bug bit, BIG time! LOL

 

[geovaz641]

This will be our fourth 'home' resort - where do you call home when you own more than one?

Anyone you feel like at any given moment. When I grow up, I want multiple homes just like you . . . .

 

[ABE4DISNEY]

Just passed yesterday and it took the entire 30 days. Submitted 1/28 and passed 2/28.

 

[juncker]

Just got the notice that our contract closed today.

Our timing seems pretty typical of what I have read on these boards:

1/17 - Made Offer
1/18 - Offer submitted to Disney for ROFR
2/14 - Passed ROFR
2/23 - Received Closing documents
2/25 - Closing Documents (and check) received by Title Company
3/1 - Closed

Last thing is going to be when we are in the system so that we can make reservations. I'm hoping it's quick.

All in all, I have to say that re-sale was definitely the way to go for us. It has been tough to wait this out for 2 months, but for all the money it saved us, it was worth it.

You finally closed on your DVC resale, what are you going to do now?

I'M GOING TO DISNEYWORLD!!!

 

[johnsbelt]

Does ROFR take 30 business days or 30 calendar days? and does it really take the whole 30 days wether its calendar or business?
If anyone that has recently passed ROFR tell me how long it took them to pass their ROFR I would really appreciate it.

Thanks

We waited a grand total of 7 calendar days for ROFR. From looking at the ROFR thread, the time is all over the place. It definately depends on the resort but also the time of the month/year. I would suspect that going into the fall, the ROFR would be quicker since there are fewer resales. JMHO though.

I feel like an old timer now and we just purchased in September.

John

 

[Jason@dvcstore]

Does ROFR take 30 business days or 30 calendar days? and does it really take the whole 30 days wether its calendar or business?
If anyone that has recently passed ROFR tell me how long it took them to pass their ROFR I would really appreciate it.

Thanks

Disney typically take between 23 and 30 calendar days.

Jason

 

[Havana]

Just got the notice that our contract closed today.

Our timing seems pretty typical of what I have read on these boards:

1/17 - Made Offer
1/18 - Offer submitted to Disney for ROFR
2/14 - Passed ROFR
2/23 - Received Closing documents
2/25 - Closing Documents (and check) received by Title Company
3/1 - Closed

Last thing is going to be when we are in the system so that we can make reservations. I'm hoping it's quick.

All in all, I have to say that re-sale was definitely the way to go for us. It has been tough to wait this out for 2 months, but for all the money it saved us, it was worth it.

You finally closed on your DVC resale, what are you going to do now?

I'M GOING TO DISNEYWORLD!!!

Your time frame is great! We had about the same dates for making an offer, submitting to ROFR, and passing ROFR. We still don't have any news on closing documents yet.

 

[DenLo]

There's a ROFR thread by Donald is #1 on this DVC-Operations Forum. http://www.disboards.com/showthread.php?t=2661661&page=8 The March 1st summary is in post #117.

I just copied the first four DVC resorts from the ROFR thread. And I only selected offers that were submitted in 2011 and passed in 2011. As you can see most passed ROFR starting with day 25.


AKV
(sub 1/11, passed 2/4)
(sub 1/20, passed 2/18)
(sub 1/26, passed 2/22)

BCV

(sub 1/5, passed 2/4)
(sub 2/1, passed 2/28)
(sub 2/4, passed 2/28)

BLT

(sub 1/5, passed 2/4)
(sub 1/14, passed 2/11)
(sub 1/25, passed 2/21)
(sub 1/24, passed 2/21)

BWV

(sub 1/21, passed 2/18)
(sub 1/23, passed 2/20)
(sub 1/25, passed 2/20)

 

[mouseaider]

Yep..... and we are still waiting.

SSR, submitted 2/7...... but it's not my first rodeo !

I'm enjoying the ride !

 

[divehard]

We submitted to Disney on 1/21 and passed on 2/18. closing is set for 3/10 but i'm pushing to move faster. Kids are home from school next week and I'm hoping for some magic.


Closing agent just sent me email. The paperwork is finished. We are now waiting for the updates from Disney. Whatever they are and we're good to go . She says probably a few days.

 

[juncker]

Just got the notice that our contract closed today.

Our timing seems pretty typical of what I have read on these boards:

1/17 - Made Offer
1/18 - Offer submitted to Disney for ROFR
2/14 - Passed ROFR
2/23 - Received Closing documents
2/25 - Closing Documents (and check) received by Title Company
3/1 - Closed

Last thing is going to be when we are in the system so that we can make reservations. I'm hoping it's quick.

All in all, I have to say that re-sale was definitely the way to go for us. It has been tough to wait this out for 2 months, but for all the money it saved us, it was worth it.

You finally closed on your DVC resale, what are you going to do now?

I'M GOING TO DISNEYWORLD!!!

Just to complete out our entire resale experience, here was our calendar:

1/17 - Made Offer
1/18 - Offer submitted to Disney for ROFR
2/14 - Passed ROFR
2/23 - Received Closing documents
2/25 - Closing Documents (and check) received by Title Company
3/1 - Closed
3/8 - Showed up in Disney System, but no points
3/10 - Points were allocated and our first reservations were made.

This seems to be pretty typical of what I read on these boards to expect. It takes about 8 weeks for your resale to complete. Of course curve balls could slow down just about all of these steps.

 

[heynowirv]

We're into the 26 day waiting on DVC to Pass our 25 point add-on. Starting to get a little antsy now

 

[DougEMG]

We were told that our contract had been submitted on Feb 2nd and then didn't hear anything back till Mar 11th that it had been passed ROFR on Mar 8th. Talk about a long wait! I'm guessing that the contract wasn't really submitted on the 2nd like I was originally told.

 

[disneynutz]

Just expect a 30 day wait, Disney doesn't have any reason to process the ROFR sooner. I expect that the instant processing of a direct buy might cause some people pay more and buy from Disney.

Bill