ROFR Delays????

[GregBuch]

I have an accepted offer on a contract at Vero Beach. It was sent to Disney on July 7th. We are coming up on 5 weeks without hearing back yet. Other resale contracts I purchased took 2-3 weeks to find out. Is anyone else having delays on hearing back about ROFR?

 

[edudansil]

We also sent in on July 7th for BCV and are still waiting. The wait has been excruciatingly long!

 

[FSUSammy]

It took us about 35-ish days to hear back

 

[jenne]

Ours was submitted on the 7th as well. Still waiting...

 

[Sandisw]

It seems we are back to timeframes like last year at this time. 30 to 45 days again. Its the same with loading contracts. It is back to taking close to 3 weeks. I sold a contract and we closed on 7/21. That contract is still in my account which means my buyers don't yet have it.

So, it appears all departments are back to not completing things timely again.

 

[diskate10]

I’m waiting on a 6/25

 

[GregBuch]

We just passed ROFR. Found out last night. It took 35 days for us to receive the notification.

 

[Amyeliza]

Same with us, we close on a sale right around that time and I have the points in my account. Our title company won't release the funds to us, either, until the transfer is complete which is kind of annoying as the property is legally no longer ours.

Is this normally how it works? Who is your title company? First time seller here...and a bit nervous.

 

[Amyeliza]

I am using www.DVCresalemarket.com and their usual title company. I’m not sure if it normally works this way as this is my first time selling. I was expecting my money weeks ago, to be honest. They probably do this to make sure I don’t use any of the points after closing and can reimburse the buyer from the money in escrow. I’m not sure.

Ugh...that's who I'm using too! I do see the value in it, but waiting that much longer for your own money is pretty annoying.

 

[jbreen2010]

I am using www.DVCresalemarket.com and their usual title company. I’m not sure if it normally works this way as this is my first time selling. I was expecting my money weeks ago, to be honest. They probably do this to make sure I don’t use any of the points after closing and can reimburse the buyer from the money in escrow. I’m not sure.

I have bought (2) contracts via resale. The first with DVCresalemarket and the second with Fidelity. The DVC resale market one had some paperwork error...or some missing mysterious issue that was still never explained to me till this day...and that took 60 days to pass ROFR. I actually passed ROFR on the day of my "closing" date in which disney issued ROFR and Estoppel on the same day. It was quite a headache for me.

The second with Fidelity I heard back within 30 days.

BUT - I would also caveat like Sandisw noted that these have sometimes ebbed and flowed with timing on response to ROFR.
To me it's quite incredible that there is no hard and fast "you have 30-days to reply or we're closing".

 

[DVChris]

If Disney exercises ROFR, do they resell as direct points at the same quantity of points or can they break up the points any way they wish? I’m curious if the deed follows the ROFR points.

 

[softballmom3]

If Disney exercises ROFR, do they resell as direct points at the same quantity of points or can they break up the points any way they wish? I’m curious if the deed follows the ROFR points.

They can break them up if they choose to.