ROFR longer than 30 days?

[mtm65]

Our title company submitted our agreement to Disney for ROFR consideration on 3/5/15 and we haven't heard anything back yet. Our broker and the title company do not seem concerned but I am concerned.

Is it common or acceptable for ROFR to take longer than 30 days? Is there any recourse if Disney is dragging their feet on the decision?

I know it's a slow process and I've been very patient, not bugging the title company until the 30 day mark.

Thanks in advance for any advice

 

[supersnoop]

Technically, after 30 days, you can close and Disney would have no recourse. But no title company seems willing to force that issue.

 

[erionm]

The actual requirement is that it be submitted for ROFR at least 30 days prior to the scheduled closing. If it was submitted more than 30 days prior to closing, they can take up until the scheduled closing date to make a decision.

 

[Minniesgal]

This is one of those things that just takes as long as it takes. You will hear soon. All you can do is wait.

 

[mtm65]

Thanks for the replies. We heard back today and DVC waived their right Took a total of 34 days. Our settlement isn't until July. Maybe that's why they weren't in a hurry?

 

[hopeful4fl]

It seems that "everything"within the process has slowed down lately. Not sure if this is an issue with Disney resources, or if they are making it more painful than in the past.
Glad you passed. It will be worth it