ROFR From the Seller's Standpoint

[squirrel4569]

If you are a seller and your contract gets picked up via ROFR, how does the rest of that transaction go? Does it still need to go through estoppel and closing? Do you get your money quickly from Disney? It seems as if it's kind of a win-win for a seller because it will get bought one way or another.

 

[supersnoop]

If you are a seller and your contract gets picked up via ROFR, how does the rest of that transaction go? Does it still need to go through estoppel and closing? Do you get your money quickly from Disney? It seems as if it's kind of a win-win for a seller because it will get bought one way or another.

Yes, I'm under the impression that you'd have a check in about a week. It's much easier for a seller.

 

[ScubaCat]

Disney takes over the closing at that point so it's really fast. No title company is involved other than forwarding your escrow deposit.

 

[LAX]

I supposed the sellers still have to pay the broker commission on any contract that Disney decides to take.

LAX

 

[Deb & Bill]

I supposed the sellers still have to pay the broker commission on any contract that Disney decides to take.

LAX

Yes. You used their services to sell your contract.