Right of First Refusal Fee?

[HeatherPage]

Just curious, was looking at tug2.net classified and one ad for DVC said seller will pay transfer fee and right of first refusal fee. I sold my DVC last year (well actually Disney exercised the ROFR) and buyer said go with them but I was not aware of a ROFR fee. Can anyone clue me in?

Thanks in advance

 

[Happy Birthday Cat]

I have never heard of it either but went to TUG to see for myself and sure enough that's what it says.

Anyone else heard of this?

HBC

 

[KANSAS]

when you sell your disney vacation club contract.
Disney will charge you a $100 Transfer fee and a $20 RORF FEE.

If you state in your contract, buyer pay all closing costs,
you are expected to pay these $120 in fees as seller.

IF you do not want to pay these $120 in fees, you must specifically put in your contract.

 

[jcanary]

the only fee I see the seller responsible for in my contract is the $100 transfer fee. There is no RORF fee mentioned.

 

[Dean]

Kansas is the only one that has mentioned this fee to my knowledge. I have inquired by email of DVC about it but there were other questions and I heard from them that they were working on the answers. A prominent DVC resaler told me they hadn't heard of it either. I'm wondering it it wasn't a fee charged by a broker or closing agent rather than DVC itself.

 

[KANSAS]

I called my closing agent. The $20 ROFR fee is a bee charged by the county that WDW is in
and must be paid by the seller, plus the $100 Disney transfer Fee??

 

[all5ofus]

Originally posted by KANSAS
I called my closing agent. The $20 ROFR fee is a bee charged by the county that WDW is in
and must be paid by the seller, plus the $100 Disney transfer Fee??

When Disney issues a Waiver of Right of First Refusal, that document is filed with the Orange County Comptroller. They charge an $18.50 recording fee. As this is actually a transaction between the seller and Disney Vacation Development, it is usually paid by the seller.

 

[Dean]

The waiver must also be recorded and I'm wondering if this is not the recording fee for that form. Any ROFR fee to DVC would be due up fron, prior to the closing. If it's a recording fee, it would be part of the closing costs and should be included to the buyer or whoever was agreed to pay the closing costs I would think.

 

[KANSAS]

DEAN
I agree with you 100%

my dvc contracts stated. I would pay Disney transfer fee of $100
and the buyer should pay 100% of closing costs

The closing agent, said I was responsible for this $20 fee related to DVC ROFR still.

 

[HeatherPage]

Okay makes sense. I know it's only $20 but those little things can add up. Kansas, I hope you didn't think I was being too nosy, just trying to educate myself for when the time (hopefully) comes for me to buy a resale.