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

[bookwormde]

I think the listing # was 5006213

what broker?

 

[MICKIMINI]

A fidelty agent told me they do their upload of new contracts between midnight and 2 am Eastern

Last year I bought a contract at 4 am as my DH was out snow blowing! It was a small OKW for $82. The contract was not there the night before which seems to confirm this information. I put in a full price offer (actually a bit over) and got the contract.

 

[shaunacb]

what broker?

Fidelity

 

[bookwormde]

Fidelity

Fidelity sequentially numbers their contracts 6213 would have originally been listed last fall

 

[Cyberc1978]

Thank you! That is exactly what I wanted to know. One follow up question - do you know if new contracts are listed at a specific time each day, or do they get loaded onto the website throughout the day? Thanks again.

no sorry, I have no idea when they update their website.

 

[lovethesun12]

Fidelity sequentially numbers their contracts 6213 would have originally been listed last fall

I saw that too (you mentioned it here before so I noticed ). I assumed it had been either reduced, or relisted somehow?

 

[Arguetafamily]

Took me a bit to figure this out, hope I did it right this time

Arguetafamily---$120-$32604-240-BWV-Dec-27/18, 240/19, 240/20, 240/21- sent 5/12

Arguetafamily---$106-$18112-160-AKV-Dec-0/18, 12/19, 2/20, 160/21-Seller pays closing- sent 6/3

 

[FinallyFL]

Took me a bit to figure this out, hope I did it right this time

Arguetafamily---$120-$32604-240-BWV-Dec-27/18, 240/19, 240/20, 240/21- sent 5/12

Arguetafamily---$106-$18112-160-AKV-Dec-0/18, 12/19, 2/20, 160/21-Seller pays closing- sent 6/3

Congrats! I assume you are having the seller bank the 2019 points.

 

[Arguetafamily]

Congrats! I assume you are having the seller bank the 2019 points.

You know for the first contract, they didn't ask, which is strange because all points are available. Maybe they assumed it would close before July and I would have access to bank them myself? I should ask, thanks for bringing it to my attention

Just looked...it reads banked, shows how new to this we are

 

[Sandisw]

You know for the first contract, they didn't ask, which is strange because all points are available. Maybe they assumed it would close before July and I would have access to bank them myself? I should ask, thanks for bringing it to my attention

Definitely ask. They will probably have to do an addendum and it may need to go to ROFR again, but worth it. I made it a part of my offer in early May and we have not even passed ROFR yet.

 

[Arguetafamily]

Definitely ask. They will probably have to do an addendum and it may need to go to ROFR again, but worth it. I made it a part of my offer in early May and we have not even passed ROFR yet.

Didn't notice it said banked. Thank you!

 

[Heathernoel]

Quick questions: I luckily had my late April contract pass ROFR on June 4th. We wired the money and signed the contract quickly but are still waiting for the seller. They are Canadian so I know it needs to be notarized. So I wondered 1)can the broker help nudge this along (i.e. is it worth reaching out to the broker)? 2) does it automatically close on the close date of they don't sign?

Thanks. I am trying to use my points for October so want this to move along! Plus I worry they have changed their mind...

 

[hlhlaw07]

Quick questions: I luckily had my late April contract pass ROFR on June 4th. We wired the money and signed the contract quickly but are still waiting for the seller. They are Canadian so I know it needs to be notarized. So I wondered 1)can the broker help nudge this along (i.e. is it worth reaching out to the broker)? 2) does it automatically close on the close date of they don't sign?

Thanks. I am trying to use my points for October so want this to move along! Plus I worry they have changed their mind...

1) the broker can send reminders, but there is not much else a broker can do to make someone get something notarized in Canada.

2) It will not automatically close on the close date. It cannot close until the seller returns the executed deed. Without a signed deed the property cannot be transferred to you. If they don’t return documents in time you can either continue to wait until they do, or you can decide to treat it as though the seller is in default and give notice that you are terminating the contract because of the seller’s default.

 

[Heathernoel]

1) the broker can send reminders, but there is not much else a broker can do to make someone get something notarized in Canada.

2) It will not automatically close on the close date. It cannot close until the seller returns the executed deed. Without a signed deed the property cannot be transferred to you. If they don’t return documents in time you can either continue to wait until they do, or you can decide to treat it as though the seller is in default and give notice that you are terminating the contract because of the seller’s default.

Thank you, that all makes sense. I figured the broker couldn't make someone do something (I am sure sometimes they wish they could) but I did wondered if they will gently prod someone to get it in.

That also makes sense about the contract and closing. If I decided to call the contract in default after the closing date (note, I have no plan on this) do I get my deposit back?

 

[MrWonderful]

If I decided to call the contract in default after the closing date (note, I have no plan on this) do I get my deposit back?

Read the contract - it should spell out EXACTLY what will occur if that were to happen. In every contract I have seen, yes you would receive your deposit back if seller is in default.

 

[hlhlaw07]

Thank you, that all makes sense. I figured the broker couldn't make someone do something (I am sure sometimes they wish they could) but I did wondered if they will gently prod someone to get it in.

That also makes sense about the contract and closing. If I decided to call the contract in default after the closing date (note, I have no plan on this) do I get my deposit back?

Unless you signed a very strange contract, you would get your deposit back. It may not be immediately though. There is likely a provision in the contract that provides you must give the other party notice that you consider them in default and then there is usually a waiting period to allow the other period to comply with the contract before any money is returned, whether it be a deposit or if you have already sent the total balance due under the contract. But without knowing what is in your contract I cannot speak specifically to what will happen in your case.

 

[stfxkid]

We are at the 43 day point, this is getting crazy.

 

[Hopfather28]

We are at the 43 day point, this is getting crazy.

I'm "only" at 35 at this point. I honestly believe this week we will see movement on more than one day (low bar I know).

 

[Lorana]

I'm "only" at 35 at this point. I honestly believe this week we will see movement on more than one day (low bar I know).

I'm only at 34 days for my SSR (and only 12 days for my CCV), and I am desperately hoping ROFR picks up again soon, too. All these posts are making me sad thinking I may not see my points till August/September.

 

[Paul Stupin]

Quick questions: I luckily had my late April contract pass ROFR on June 4th. We wired the money and signed the contract quickly but are still waiting for the seller. They are Canadian so I know it needs to be notarized. So I wondered 1)can the broker help nudge this along (i.e. is it worth reaching out to the broker)? 2) does it automatically close on the close date of they don't sign?

Thanks. I am trying to use my points for October so want this to move along! Plus I worry they have changed their mind...

I just experienced this on a Copper Creek contract. It took the seller forever, but when I had the broker nudge him, the signed docs were returned within a few days and the contract closed. Like you, it was the whole notary issue.
They can’t get their money until they do the paperwork, which should be sufficient motivation.