ROFR Exercised? Make another offer!

[zzotto]

How come it is not widely known that if Disney exercises their ROFR, that the seller does not have to sell to Disney and that the buyer can offer more $$$ to the seller.

In this way, if your broker knows that you may be willing to offer more $$$ per point, you can get what you really want.

Afterall, if you are buying 200 points, and Disney exercises their ROFR, when you offer an additional $1.00/point, it would be an additional $200.00 for the contract. That may be reasonable if you are getting exactly what you want.

You just may need to be a little patient and work your way throught the offer, the ROFR, the new offer, etc..

 

[bobbiwoz]

You're right, it's not a widely known fact. When what we were trying to buy was then bought by Disney, I asked Shontelle, "what's next." She suggested waiting for awhile and then bidding on something else. If she had even hinted that we could then offer more money to the seller, we would have. But perhaps, the seller was eager to get the money. But if the broker really is working for the seller, because that's where the commission is coming from, I would think the broker would be doing this negotiation.

How did you find out that you can make another offer? Which broker did you work with, or were you doing a sale privately? Also, it seems that someone didn't find out until 2 weeks after Disney did it, that Disney used ROFR, I think in that case, it would have been a done deal by the time the "buyer" found out.

This is something to think about for future add-ons.

But I think we better enjoy DVC and what we have before thinking of any more add-ons!

 

[Granny]

I'm not sure but I have a feeling that most sellers are trying to dump their point ownership and not much into making it a long netotiating process.

If they agreed to terms with a prospective buyer, and were happy with those terms then why would they want to start haggling just because Disney exercised ROFR?

I understand that they might get some more money out of it if they went back to the buyer, but again, if they were okay with the deal as it stood my guess is they would just grab it and get it over with.

I don't think it's driven by the agent...I think it's the buyer wanting to get the deal done at an agreed upon price.

Just my opinion.

 

[CRobin]

Originally posted by zzotto
How come it is not widely known that if Disney exercises their ROFR, that the seller does not have to sell to Disney and that the buyer can offer more $$$ to the seller.

That is interesting. Have you had personal experience with this approach?

I tend to be in Granny's court on this one; if I'm a seller and looking to unload, do I really want to mess with the back and forth? Maybe, maybe not.

JMHO

 

[Johnnie Fedora]

Wouldn't a 2nd offer have to go through Disney's ROFR process again. It would in essence be a new 1st offer because the terms have changed. Otherwise, a rejected buyer could come back to the table with an offer that is $0.01 more/pt and say " my offer is better than Disney's".

 

[Dean]

It's been discussed on this board several times. DVC previously did this automatically but they rarely offer this suggestions now days. They will usually entertain additional offers if you track them down but there is no requirement to do so and they rarely offer this option on their own.

 

[stacy6552]

The problem with the theory is that Disney contacts the seller not the broker. We didnt even know Disney had taken our contract until 2 weeks later, probably after they had closed.

 

[Nana Sue]

It is my understanding that Disney does not allow you to do this anymore.

 

[Poorman]

Go here :

http://www.disboards.com/showthread.php?s=&threadid=334893


I did it last winter........

 

[mickeyc]

If Disney exercises it ROFR, and contacts the seller directly, does the broker get a fee?

It seems to me the broker is no longer in the picture at this point and no fee would be due since they did not sell to the person making the offer, unless there is a provision in the listing agreement. Just curious!!

 

[Dean]

Originally posted by mickeyc
If Disney exercises it ROFR, and contacts the seller directly, does the broker get a fee?

It seems to me the broker is no longer in the picture at this point and no fee would be due since they did not sell to the person making the offer, unless there is a provision in the listing agreement. Just curious!!

The broker gets the fee specified in the contract.

 

[RLAlden]

Why would the broker want to suggest you add to your asking price? They're getting their commision from Disney exercising their ROFR AND there's a good chance that you will try to buy something else. So, instead of getting 1 commission, they could be getting 2.