ROFR Thread April to June 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[E2ME2]

Interesting, I would never have guessed August would be a popular use year. I was trying to stay with my February use year but there were so many deals that passed me by because of a different use year that I decided I’m okay with a different one for the right price. When I was thinking about which use years would work I came to the conclusion that June would be best. It starts at the beginning of summer (still have school aged kids), and banking window is until end of January, so Christmas/New Year would be good to go as well. With December I’ll still have Christmas but only to the end of July to bank, so my February points will have to cover the summer.

Yuup - our guide suggested June to us for that reason, and it works for us.
I think that once you get a pattern going, you could probably learn to manage any use year. I just wouldn't want to deal with multiple use years across my 3 contracts.
ET

 

[Kdp2]

Kdp2---$149-$36569-240-VGF-Apr-0/19, 0/20, 240/21- sent 5/22

so excited! can’t wait to go back to disney again; more dvc points will have to do for now lol

 

[mmackeymouse]

I agree, definetly still a good deal, congrats!

If you cannot rent out the points, maybe you can still use them for yourself?

I am faced the same "problem" with my banked points of the contract I posted today, but as I got them for free, we will plan an Aulani trip with them (was anyway on the bucket list, now we do it a few months earlier)

Quite interesting is the big difference in price per point of our contracts. In my case MFs for 400 points and the closing are payed for by the buyer. Price 95$/Point

In our case its 81,25$/point and you pay the MFs (for 160 points I guess) + closing.

So in direct comparison the price per point is nearly the same --> 14768 / 160 --> 92,3 vs 19000 / 200 --> 95 (before 81,25 vs 95).

I now that the common calculation excludes MFs and closing, but I think in our case its two quite extreme examples how different contracts / agreements between buyer and seller can look like.

Congrats again to this nice deal, "hopefully" new neighbor

Thanks...I think? Haha. Now, I am feeling like maybe I didn't get so great a deal after all.

We currently have a cruise on the books that we are keeping our eyes on, but there is definitely a decent chance that we will get cancelled, and move to a WDW stay at that point. And, IF that happens, it will definitely be worth it to have those points, if you think of the out of pocket costs.

My concern is that IF this deal goes through, and by the time I get the points...I am not sure what availability will actually be. Fall availability is already pretty sketchy. And they have to be used by 1/31/21, so not sure there will be many multi day stays to choose from. There might be one day here, one day there, putting together piecemeal.

Congrats and good luck to you too!

View attachment 496310

As a huge Harry Potter fan, there is no higher honor.

 

[TheDuchess]

my prev post seems to have been missed so here it is again ....

TheDuchess---$115-$18940-150-BWV-Jun-147/19, 150/20, 150/21- sent 4/12, passed 4/23

 

[Heathernoel]

My 30 day mark is Tuesday. What happens if Disney gives no answer at 30 days?

I asked my broker and got a half answer, that Disney can exercise ROFR at any point, but they were sure we would hear before the 30 day mark (I understand right now all bets are off.) Does this mean my contract moves to closing and I continue to keep my fingers crossed? I don't have a good sense of the process. Thanks.

 

[hlhlaw07]

My 30 day mark is Tuesday. What happens if Disney gives no answer at 30 days?

I asked my broker and got a half answer, that Disney can exercise ROFR at any point, but they were sure we would hear before the 30 day mark (I understand right now all bets are off.) Does this mean my contract moves to closing and I continue to keep my fingers crossed? I don't have a good sense of the process. Thanks.

Disney has up until your closing date to make a decision. There is no 30 day deadline for Disney. The 30 day deadline applies to you. You have to submit it to them with at least 30 days before scheduled closing. If your closing is scheduled more than 30 days after you signed your contract and submit it to them, you effectively gave them that long to decide. They can take the whole time. Disney usually decides within 30 days, but there is absolutely no requirement that they have to. Unless of course you hold their feet to the fire and have a closing date at 30 days out. Brokers usually set it at 60 days out.

 

[Heathernoel]

Brokers usually set it at 60 days out.

Thank you for this. So I assume my broker will move forward with processing the documents and Disney will also do their end of the paperwork? I.e. Disney doesn't wait until they have made a decision to do their end of the paperwork?

 

[holyrita]

When do you normally receive your closing date? And is it from the broker? My contract was sent to Disney for ROFR and I don't see a closing date listed anywhere.

 

[hlhlaw07]

Thank you for this. So I assume my broker will move forward with processing the documents and Disney will also do their end of the paperwork? I.e. Disney doesn't wait until they have made a decision to do their end of the paperwork?

Technically there shouldn’t be any paperwork that is required from Disney if they fail to exercise their right within the given timeframe. If your closing date arrives (and you complied with giving them 30 days) and you haven’t heard anything from them, then they have effectively waived their right and you would be clear to close. That is at least how it works in theory under the law. I caveat that with the fact that a lot of brokers are not quick to do something they view as might be upsetting to Disney, so whether they would close the contract in the absence of something from Disney may be a YMMV situation. I know last year when there was a stretch of time when Disney was taking more than 30 days to decide a few people had brokers tell them the closing would be delayed until Disney gave the go ahead. That is not required by the contract, and anyone who finds themselves in that situation should definitely push back. The broker works for you and not Disney.

 

[hlhlaw07]

When do you normally receive your closing date? And is it from the broker? My contract was sent to Disney for ROFR and I don't see a closing date listed anywhere.

Every resale contract I have ever signed (approximately 10) has had the closing date in the contract. It probably won’t be listed as a specific date but instead state something like “this contract shall be closed within 60 days of the effective date.” So whatever date the last person signed the contract before submitting to ROFR is the effective date of the contract. You would just count 60 days from that date to calculate when your contract is scheduled to close.

 

[Ben@M1CK3Y]

Thanks...I think? Haha. Now, I am feeling like maybe I didn't get so great a deal after all.

We currently have a cruise on the books that we are keeping our eyes on, but there is definitely a decent chance that we will get cancelled, and move to a WDW stay at that point. And, IF that happens, it will definitely be worth it to have those points, if you think of the out of pocket costs.

My concern is that IF this deal goes through, and by the time I get the points...I am not sure what availability will actually be. Fall availability is already pretty sketchy. And they have to be used by 1/31/21, so not sure there will be many multi day stays to choose from. There might be one day here, one day there, putting together piecemeal.

Congrats and good luck to you too!



As a huge Harry Potter fan, there is no higher honor.

No, dont get me wrong! Of course this is a great deal! It was just interesting for me to see how different contracts can look like.

Your trip alternative sounds like a plan, fingers crossed all works out well We also had a cruise planned, which already got cancelled, so now those extra points come in handy for a nice alternative to a cruise.

 

[holyrita]

Every resale contract I have ever signed (approximately 10) has had the closing date in the contract. It probably won’t be listed as a specific date but instead state something like “this contract shall be closed within 60 days of the effective date.” So whatever date the last person signed the contract before submitting to ROFR is the effective date of the contract. You would just count 60 days from that date to calculate when your contract is scheduled to close.

I do see exactly that, thank you!!

 

[Heathernoel]

Technically there shouldn’t be any paperwork that is required from Disney if they fail to exercise their right within the given timeframe. If your closing date arrives (and you complied with giving them 30 days) and you haven’t heard anything from them, then they have effectively waived their right and you would be clear to close. That is at least how it works in theory under the law. I caveat that with the fact that a lot of brokers are not quick to do something they view as might be upsetting to Disney, so whether they would close the contract in the absence of something from Disney may be a YMMV situation. I know last year when there was a stretch of time when Disney was taking more than 30 days to decide a few people had brokers tell them the closing would be delayed until Disney gave the go ahead. That is not required by the contract, and anyone who finds themselves in that situation should definitely push back. The broker works for you and not Disney.

Thank you so much. One last question: my contracts says, "This contract shall be closed on or before 6/22/2020 or within 45 days from when the estoppel information is provided by Disney to the closing company". That was what had me wondering about Disney holding things up. How do you known Disney has sent that?

Thank you for helping me understand. I really do appreciate it!

 

[Sandisw]

Thank you so much. One last question: my contracts says, "This contract shall be closed on or before 6/22/2020 or within 45 days from when the estoppel information is provided by Disney to the closing company". That was what had me wondering about Disney holding things up. How do you known Disney has sent that?

Thank you for helping me understand. I really do appreciate it!

Typically, estoppel isn’t sent until they have waived ROFR...and many brokers won’t begin to process right at the 30 day mark so Disney can delay things to a certain extent,

The title company will send you closing documents once they get that from Disney...that is how you will know.

 

[hlhlaw07]

Thank you so much. One last question: my contracts says, "This contract shall be closed on or before 6/22/2020 or within 45 days from when the estoppel information is provided by Disney to the closing company". That was what had me wondering about Disney holding things up. How do you known Disney has sent that?

Thank you for helping me understand. I really do appreciate it!

Typically, estoppel isn’t sent until they have waived ROFR...and many brokers won’t begin to process right at the 30 day mark so Disney can delay things to a certain extent,

The title company will send you closing documents once they get that from Disney...that is how you will know.

Sandi is right, but just want to clarify that the 45 day extension to receive estoppel should not change your closing date for purposes of ROFR. Generally a party can’t act in bad faith and be rewarded for it under a contract. Disney would still be considered to have waived their right under ROFR if they don’t act before the close date in the contract. They can’t really sit on their hands and then point to the provision that provides an administrative delay for closing when they chose not to act and are the reason for the delay.

 

[pangyal]

Updated!

I'm not sure how I missed so many people (who even used the tool and everything!) so I apologize for that. You are all on there now!

Some awesome deals this week- congrats to all who scored

 

[MagicalAloha]

Updated!

I'm not sure how I missed so many people (who even used the tool and everything!) so I apologize for that. You are all on there now!

Some awesome deals this week- congrats to all who scored

Wawa Wewa

 

[Lorana]

Is it just me, or does it seem like ROFRs are trickling? Has anyone passed ROFR recently?

 

[MagicalAloha]

Is it just me, or does it seem like ROFRs are trickling? Has anyone passed ROFR recently?

Compared to a few weeks ago; def trickling. It’s been two weeks since mine was turned in but at this point no rush lol...

 

[Golfman 77]

Is it just me, or does it seem like ROFRs are trickling? Has anyone passed ROFR recently?

I've been waiting since 4/24. We are hoping to see it today. We are worried because we have some good offers in. I think that these may be the front end of some really good deals. I think this could be the begging of a longer wait for ROFR all around.