ROFR Rules

[MountainMouse]

Can anyone tell me what the rules are if Disney doesn’t respond to ROFR in 30 days? What’s involved with moving forward if they don’t respond? Thanks.

 

[erionm]

The actual requirement is that it be submitted for ROFR at least 30 days prior to the anticipated closing date. Nothing says that have to respond in 30 days.

 

[MountainMouse]

The actual requirement is that it be submitted for ROFR at least 30 days prior to the anticipated closing date. Nothing says that have to respond in 30 days.

Thank you. What you read online is confusing. Some say that they have to respond in 30 days but nothing about what happens if they don’t. In most cases my guess is that the easiest and fastest path forward is just to wait until they reply but I would think that there has to be some process if they don’t.

 

[CastAStone]

Thank you. What you read online is confusing. Some say that they have to respond in 30 days but nothing about what happens if they don’t. In most cases my guess is that the easiest and fastest path forward is just to wait until they reply but I would think that there has to be some process if they don’t.

If you gave them 30 days and they don't respond by closing then you close. That's the process.

 

[Deeleebaker]

If you gave them 30 days and they don't respond by closing then you close. That's the process.

But it’s complicated. The next step is estoppel where Disney verifies the amount of points the seller is claiming. my title documents don’t say the title guarantees those numbers but only that Disney does not dispute them. And my contract allows for payment if they aren’t there.
I don’t think Disney would give estoppel without waiving ROFR first. So maybe you could get a title company to proceed with a deed transfer, but you’d have no way of knowing what points were there Until Disney gave you a membership and loaded the points.

 

[Dean]

Can anyone tell me what the rules are if Disney doesn’t respond to ROFR in 30 days? What’s involved with moving forward if they don’t respond? Thanks.

As noted, they have 30 days once received to respond. Technically if they miss this one could close but I am not personally aware of anyone taking that approach. IMO it would be a risk unless you could document both when they received it and that they actually hadn't responded. Normally when this happens the breakdown was not with DVD but on the other end, usually with the broker/closing company. Either they didn't send it, didn't send everything needed or a response was actually send back but it hasn't been communicated through.

 

[Sandisw]

As noted. They have up until closing to respond but need to be given at least 30 days.

The bigger problem is most brokers will not set closing that quickly. Most do put 60 days which then allows Disney to go beyond the 30 days.

I will say that this year is the only time since I became a member that going well beyond 30 days has been an issue. Other than a few here or there, they almost always responded during that time.

 

[MountainMouse]

Reply appreciate all of the information. I was told by title company it’s taking about 45 days to receive an ROFR response, I’m coming up on that now so if I don’t hear something soon I’ll ask that they go ahead and set the closing date. Not sure if they will or not. I’m not in a big hurry but I don’t like it open ended either. On our last contract in 2018 it took a couple of days over 30.

 

[What-r-ya Goofy?]

Reply appreciate all of the information. I was told by title company it’s taking about 45 days to receive an ROFR response, I’m coming up on that now so if I don’t hear something soon I’ll ask that they go ahead and set the closing date. Not sure if they will or not. I’m not in a big hurry but I don’t like it open ended either. On our last contract in 2018 it took a couple of days over 30.

It is my understanding that no resale broker wants to cause waves over at DVC making your chances of closing on your contract without ROFR approval slim and none regardless of what the rules say. The title companies seem go along with the program as well, so I don't think you will find an advocate in them either. Good thing you are not in a big hurry as the whole resale process has become long, unpredictable, and somewhat aggravating at times. Best of luck!

 

[poofyo101]

Reply appreciate all of the information. I was told by title company it’s taking about 45 days to receive an ROFR response, I’m coming up on that now so if I don’t hear something soon I’ll ask that they go ahead and set the closing date. Not sure if they will or not. I’m not in a big hurry but I don’t like it open ended either. On our last contract in 2018 it took a couple of days over 30.

Unlikely you will get a broker to set a closing date prior to it passing ROFR.

 

[Royal Consort]

Advice from these boards was to negotiate on closing date. I tried and it got me nowhere. Brokers just wont.

 

[CastAStone]

Advice from these boards was to negotiate on closing date. I tried and it got me nowhere. Brokers just wont.

Would @Jerry@dvcstore be able to help us understand what’s going on?

 

[Dean]

Advice from these boards was to negotiate on closing date. I tried and it got me nowhere. Brokers just wont.

Some will but generally not right at 30 days.

 

[Royal Consort]

Some will but generally not right at 30 days.

I was trying for 60!

 

[Dean]

I was trying for 60!

You should be able to find someone who will do that but I doubt it's worth adding that variable to those of price, home resort, use year, # of points etc. Even when they do they often include an amendment that allows for an extension under certain criteria.

 

[3 DD love princesses]

earliest I could get was 90 days on the contract. Brokers/title companies know its taking Disney longer to pass ROFR so I think thats the reasoning behind them extending it. Some are doing 120 days. If you can find one that says 60 days good luck

 

[Deeleebaker]

I asked for 45, they wrote it for 75. If the seller returns their package, we might get it in 46.

 

[meanwoodwhite]

On the DVC site, in the contract for UK buyers it clearly says that DVC has the right to be given a 30 day period to purchase the contract on the same terms.

Nothing about a closing date or at least 30 days.

It says a 30 DAY PERIOD

 

[Dean]

On the DVC site, in the contract for UK buyers it clearly says that DVC has the right to be given a 30 day period to purchase the contract on the same terms.

Nothing about a closing date or at least 30 days.

It says a 30 DAY PERIOD

But that's really the same thing. They get 30 days once it's in hand and if they don't respond, technically you can close at 31. It's just that why bother that something happened and they did respond but everyone didn't get the memo or if they refuse to transfer the contract.

 

[lovethesun12]

Advice from these boards was to negotiate on closing date. I tried and it got me nowhere. Brokers just wont.

Same. I ended up walking away so it’s not like they weren’t at least a little motivated...