Question-Disney Wants Contract Reworded

[TLSnell1981]

I have been waiting for ROFR to come back. Disney sent my contract back wanting part of the contract reworded. Nothing major, just the wording on how the maintenance fee on borrowed points will be paid. My question is, does this give any indication on if they are going to buy or refuse my contract?

 

[Dean]

I have been waiting for ROFR to come back. Disney sent my contract back wanting part of the contract reworded. Nothing major, just the wording on how the maintenance fee on borrowed points will be paid. My question is, does this give any indication on if they are going to buy or refuse my contract?

Likely not. DVC wants things clear and covered. I had this happen on a swap of one of my timeshares for a small OKW contract. After we reworded it, they let it pass ROFR. They may or may not buy it back but it'll be based on price and similar issues once they have the info to know what that is. The more they would have to pay themselves, the less likely they are to take it but you need to stay within the spirit of the original agreement.

 

[CarolMN]

Assuming you are the seller. If so, does the requested re-wording change the amount of money you will receive from the contract?

Not sure why you need to make a change. If you already have a buyer who agreed to your terms, why would you want/need to go to the trouble of changing something? If you change the wording, wouldn't that give Disney another 30 days to say yes or no under ROFR?

I am not a lawyer - just posting the questions I would ask Disney.

 

[TLSnell1981]

Assuming you are the seller. If so, does the requested re-wording change the amount of money you will receive from the contract?

Not sure why you need to make a change. If you already have a buyer who agreed to your terms, why would you want/need to go to the trouble of changing something? If you change the wording, wouldn't that give Disney another 30 days to say yes or no under ROFR?

I am not a lawyer - just posting the questions I would ask Disney.

I am the buyer. Seller had borrowed 5 points from next year and didn't use them. Seller must pay for them and I pay for all of '07. This remains the same, Disney just wanted it worded differently.

 

[epicureangirl]

Arrrgh! This is happening to me too! My realtor said "I just had an e-mail from Disney and they want me to send you an addendum clarifying the point status of the contract". Basically, there are 15 points that will expire by our use year date in 2008, and Disney wants to spell that out so we are fully informed. I don't think it is necessarily a bad sign, but it just delays things another week (the sellers are out of town but need to sign too). I'm not good at waiting!

 

[TLSnell1981]

Arrrgh! This is happening to me too! My realtor said "I just had an e-mail from Disney and they want me to send you an addendum clarifying the point status of the contract". Basically, there are 15 points that will expire by our use year date in 2008, and Disney wants to spell that out so we are fully informed. I don't think it is necessarily a bad sign, but it just delays things another week (the sellers are out of town but need to sign too). I'm not good at waiting!

I hope your delay isn't as long as mine was. I sent my contract back immediately, but because of the long weekend, Disney didn't receive it until 9/4. They didn't review it and waive ROFR until 9/26. I know this because my agent kept checking on it periodically. It was very fustrating considering they looked at it originally in one weeks time. While seeing others submit their contracts after me and pass ROFR before me was fustrating, I was happy for them. I was told they were going to rush closing. I have yet to hear anything else.

 

[drusba]

Legally, Disney cannot require, in relation to a resale, a change to the contract of sale between the seller and buyer. Its right is to exercise ROFR or choose not to. However, it can and should suggest changes if it appears there has been some inartful drafting or unclarity created that itself could lead to disputes between the buyer and seller or between the buyer and DVC. That sounds like what Disney was doing in relation to all the examples given above. I would not construe the requests as indicating one way or the other whether Disney will exercise ROFR.

 

[Granny]

Basically, there are 15 points that will expire by our use year date in 2008, and Disney wants to spell that out so we are fully informed.

Sounds like Disney is trying to make sure that buyers have complete understanding of the point situation before approving the sale. Makes sense....guess who gets to listen to buyers when they try to make a reservation with points they thought they could use?

 

[sznk]

I would hope the realtors that handle DVC Resales on a regular basis would know how Disney needs contracts worded. I'm not bashing all realtors, so please don't beat me - some are very efficient.
We're waiting for the ROFR decision thru 'a timeshare store' and as we all know, the waiting takes sooooooooooooo long...

 

[epicureangirl]

Sounds like Disney is trying to make sure that buyers have complete understanding of the point situation before approving the sale. Makes sense....guess who gets to listen to buyers when they try to make a reservation with points they thought they could use?

Yes, but I did know that these points would expire, so to have Disney ask for this to be put in an addendum is annoying (it's not just me having to sign it, but it goes back to the buyer who is on vacation right now) -- I just want to have it go quickly through ROFR. However, part of me was thinking "shouldn't the realtor have come across this before and included this information?". In any event, my realtor has been excellent and always available for me, even though I bug her every week to 'touch base'.

I keep telling myself it will all be over very soon, and I can be booking BCV next year!

 

[TLSnell1981]

I am the buyer. Seller had borrowed 5 points from next year and didn't use them. Seller must pay for them and I pay for all of '07. This remains the same, Disney just wanted it worded differently.

In my case, Disney wanted it worded that the seller would pay MF for the 5 borrowed points this year and I would pay for the remainder. It originally stated that I would pay MF for all points this year and seller would pay for 5 next year. I understood it. A small change to hold me up for over 3 weeks!(26 days to be exact)

 

[Dean]

In my case, Disney wanted it worded that the seller would pay MF for the 5 borrowed points this year and I would pay for the remainder. It originally stated that I would pay MF for all points this year and seller would pay for 5 next year. I understood it. A small change to hold me up for over 3 weeks!(26 days to be exact)

I'm sure the reason is that they want to have things settled at closing as next years fees aren't due until Jan.