ROFR Thread April to June 2019 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Daisybell911]

Out of curiosity where does it legally say that they will return a decision in 30 days? I'm looking through my paperwork and can't find that verbiage. Am I missing something or is "30 days" something that brokers say based on past history? I've always heard that it was a 30 day answer period but I'm starting to believe, thanks to the great info here, that that is just an Urban Legend. If that time frame isn't something that Disney is legally bound to, brokers need to stop saying it and need to say that Disney has up to the day of closing to make a decision. Does it suck? Sure does but it is honest, transparent and takes away a good amount of anxiety and frustration on both the buyer and sellers part

 

[mrsap]

Out of curiosity where does it legally say that they will return a decision in 30 days? I'm looking through my paperwork and can't find that verbiage. Am I missing something or is "30 days" something that brokers say based on past history? I've always heard that it was a 30 day answer period but I'm starting to believe, thanks to the great info here, that that is just an Urban Legend. If that time frame isn't something that Disney is legally bound to, brokers need to stop saying it and need to say that Disney has up to the day of closing to make a decision. Does it suck? Sure does but it is honest, transparent and takes away a good amount of anxiety and frustration on both the buyer and sellers part

@RamblinWreck posted this yesterday

https://www.disboards.com/threads/r...formatting-tool.3743908/page-14#post-60511675

 

[Iestyn5150]

Out of curiosity where does it legally say that they will return a decision in 30 days? I'm looking through my paperwork and can't find that verbiage. Am I missing something or is "30 days" something that brokers say based on past history? I've always heard that it was a 30 day answer period but I'm starting to believe, thanks to the great info here, that that is just an Urban Legend. If that time frame isn't something that Disney is legally bound to, brokers need to stop saying it and need to say that Disney has up to the day of closing to make a decision. Does it suck? Sure does but it is honest, transparent and takes away a good amount of anxiety and frustration on both the buyer and sellers part

There is no legal requirement for Disney to decide within 30 days. The only mention of 30 days anywhere is sellers have to give Disney at least 30 days before closure to make a decision. The 30 day window for them to decide is nonsense and has now been proven with Disney stating it!

 

[Cyberc1978]

Out of curiosity where does it legally say that they will return a decision in 30 days? I'm looking through my paperwork and can't find that verbiage. Am I missing something or is "30 days" something that brokers say based on past history? I've always heard that it was a 30 day answer period but I'm starting to believe, thanks to the great info here, that that is just an Urban Legend. If that time frame isn't something that Disney is legally bound to, brokers need to stop saying it and need to say that Disney has up to the day of closing to make a decision. Does it suck? Sure does but it is honest, transparent and takes away a good amount of anxiety and frustration on both the buyer and sellers part

Disney is not legally bound by the 30 days, its a myth. In the past it took roughly 30 days to get an answer. Legally Disney have until closing date to decide. I think that is the reason why brokers claim it takes 30 days, its based on past experience and not current.

 

[RamblinWreck]

Out of curiosity where does it legally say that they will return a decision in 30 days? I'm looking through my paperwork and can't find that verbiage. Am I missing something or is "30 days" something that brokers say based on past history? I've always heard that it was a 30 day answer period but I'm starting to believe, thanks to the great info here, that that is just an Urban Legend. If that time frame isn't something that Disney is legally bound to, brokers need to stop saying it and need to say that Disney has up to the day of closing to make a decision. Does it suck? Sure does but it is honest, transparent and takes away a good amount of anxiety and frustration on both the buyer and sellers part

They have up until the closing date.

However, you only have to send them the paperwork with at least 30 days left until closing. So in theory, if you sent the paperwork to them exactly 30 days before closing, they would only have 30 days to take action. Failure to take action would be considered the same as an ROFR waiver.

 

[RamblinWreck]

DAY 47.............

Hi guys, I just wanted to update you all. I received a phone call back yesterday from Disney. They told me they still do not have a decision on my contract... that contracts go through two stages, and mine has only gone to the first one. I’m assuming that means it’s being taken, but she would not tell me either way. However, she did tell me that they have been basing the speed of their responses on ROFR based on contract closing dates. Because my contract closing date shows May 22, mine would go towards the bottom of the pile - where say somebody who has a closing date of May 1 would get more of a priority. She also mentioned they do have until the closing date to make a decision. I told her that timeframe is ridiculous and that having to wait almost 50 days to be told it was taken, is absolutely unacceptable. I told her not only am I a direct owner/buyer, but I am also a resale owner/buyer. I told her with my first resale contract one year ago, I heard I passed ROFR within 14 days and was closed within a timely fashion. This isn’t the same great experience that I had the first time around. She apologized and said she will voice my concerns to the proper people. So we’ll see. I hope they let me know by the weekend. I’m SO beyond over it.

Awesome info.

So basically, there really is no reason to give them any more than the minimum required heads up. We really should stop doing them favors at our own expense.

 

[Daisybell911]

They have up until the closing date.

However, you only have to send them the paperwork with at least 30 days left until closing. So in theory, if you sent the paperwork to them exactly 30 days before closing, they would only have 30 days to take action. Failure to take action would be considered the same as an ROFR waiver.

That’s exactly what I’m thinking. We were told wrong. They don’t have 30 days. It’s a myth that needs to stop. They have until closing which means closing dates need to be changed. And maybe, needs to become part of the negotiations because that is the only thing that will quicken the decision policy. Disney has proven it over and over again and has even said it to members who have called.

I wouldnt even have a problem with it if there was truth from the beginning. I can deal with anything if I know the cards on the table. Tell me that I won’t know until date of close and then I can make an informed decision whether or not resale is a path I want to take. That’s probably what everyone wants.

 

[RamblinWreck]

That’s exactly what I’m thinking. We were told wrong. They don’t have 30 days. It’s a myth that needs to stop. They have until closing which means closing dates need to be changed. And maybe, needs to become part of the negotiations because that is the only thing that will quicken the decision policy. Disney has proven it over and over again and has even said it to members who have called.

I wouldnt even have a problem with it if there was truth from the beginning. I can deal with anything if I know the cards on the table. Tell me that I won’t know until date of close and then I can make an informed decision whether or not resale is a path I want to take. That’s probably what everyone wants.

It's kind of a ridiculous policy if you think about it. If Disney were to take all the way up until the closing date to decide, and then they waive the contract on the day of your closing... how are you possibly going to close on that day? Whoever wrote that up wasn't thinking IMO. It seems like it would make WAY more sense to require that you give Disney 60 days heads up at minimum, and that if they don't make a decision with at least 30 days left to closing that it counts the same as a waiver.

 

[Daisybell911]

It's kind of a ridiculous policy if you think about it. If Disney were to take all the way up until the closing date to decide, and then they waive the contract on the day of your closing... how are you possibly going to close on that day? Whoever wrote that up wasn't thinking IMO. It seems like it would make WAY more sense to require that you give Disney 60 days heads up at minimum, and that if they don't make a decision with at least 30 days left to closing that it counts the same as a waiver.

I agree 100% but there is this little clause in my contracts that covers that base:


So, in my instance, Disney could say yes on 5/28 and it automatically bumps my closing date to a max of 45 additional days. Disney is still legally covered and all is well in their world.

As the old commercial used to say "Pretty sneaky, Sis!"

 

[lovin'fl]

The mouse is no chump. He covers his bases.

 

[Daisybell911]

The mouse is no chump. He covers his bases.

Truest statement of the day!!!!

 

[MICKIMINI]

Newbie here but DVC veteran back to 1996! We have purchased multiple times both direct and resale. This is a little add on and we are currently at fifty one (51) days! All Disney will tell me is that the broker sent in the Estoppel information in early April. My broker has not returned the last several emails inquiring as to what is going on... We don't feel the love anymore Disney - are you breaking up with us after 23 years?

 

[Iestyn5150]

I agree 100% but there is this little clause in my contracts that covers that base:
View attachment 395079

So, in my instance, Disney could say yes on 5/28 and it automatically bumps my closing date to a max of 45 additional days. Disney is still legally covered and all is well in their world.

As the old commercial used to say "Pretty sneaky, Sis!"

My contract doesn’t have that little addition in it. That must have been added by your broker, not Disney.

 

[Daisybell911]

My contract doesn’t have that little addition in it. That must have been added by your broker, not Disney.

Probably but it makes sense. There’s no way we can get the decision and settle on the same day

 

[DisneyOutsider]

We don't feel the love anymore Disney - are you breaking up with us after 23 years?

Unfortunately you're not the customer in this transaction for the DVC contracts office. They're serving the interest of DVD as a whole and we're just a collateral 3rd party. Try not to take it personally... I promise when you eventually get the contract you want it will be worth the savings.

 

[denecarter]

denecarter---$85-$21679-220-AUL-Feb-0/18, 220/19, 220/20, 220/21- sent 4/17

Good news... Disney hasn’t taken any Aulani contracts that we know of for a while now

Bad news... my stupid contract says it will close within 120 days of the effective date

 

[jamie3631]

denecarter---$85-$21679-220-AUL-Feb-0/18, 220/19, 220/20, 220/21- sent 4/17

Good news... Disney hasn’t taken any Aulani contracts that we know of for a while now

Bad news... my stupid contract says it will close within 120 days of the effective date

Wow I wonder why your broker gave so much time until closing? Well hopefully you get news soon, as I know typically Aulani passes, and I think they pass quickly! Good luck!

 

[RamblinWreck]

I officially have a new offer accepted!

Thus begins the push to put the closing date only 31 days out from when we send the contract to Disney....

 

[Katie L]

I officially have a new offer accepted!

Thus begins the push to put the closing date only 31 days out from when we send the contract to Disney....

Good luck! What broker?

 

[RamblinWreck]

Good luck! What broker?

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