While it’s unusual for Disney to take more than 30-45 days, the actual wording on the original contract says DVD has until your closing date, which could exceed that. Do you remember what your current purchasing contract says?
I think you can also say you are the fence and they will start a quote for you that can hold the discount for a little longer. They offered to do this for me for Riviera. I told them I couldn’t decide between SSR and Riviera.
I am glad you told me that! I wasn’t aware it could take until the closing date because I had already asked the person who sent the contract (not the agent I dealt with but someone else) via email why the closing date (close in ___ days) was blank. I haven’t yet received a response. My plan is to give it until tomorrow for a response and then, if I still don’t hear back, to send out a letter of recession since I’m still in the recission period until Monday.
That’s weird. Your resale contract should have a close by date. Who is your broker if you don’t mind me asking?
It is weird and I thought so, too. But we didn’t want to hold anything up (or have the sellers change their minds) and figured we would just email the person sending the contract directly, which we did three days after we received the signed contract.
I just bought a resale for CCV and the closing date was also left blank. I called and they gave me the date, which was in early July. Regarding ROFR and your closing date, you will not be able to close on the contract until you pass ROFR. If you haven’t heard by your closing date (highly unlikely), the title company and realtor will not allow you to close.
Thank you! Hopefully they let me know the closing date soon.
The closing typically happens 2-3 weeks after you pass ROFR, once the title company receives the estoppel from Disney. But nothing will happen until you pass ROFR, no matter what closing date they tell you.
Thank you!
As long as it’s the same use year, it should be under the same account.
You never know! Mine passed in about 20 days and I received the closing docs 2 days later! I closed 2 weeks after that, so it was only 5 1/2 weeks from offer to close.
Geez, I hope not. My closing date is September 27th. Can you imagine waiting that long for ROFR when we can barely wait past weeks.
It is probably highly unlikely that Disney would take that long but my direct contract reads “If DVD fails to notify the member of its election to exercise its right of refusal prior to the proposed closing date, the member may proceed to close the transaction with the third party upon the original terms and conditions offered by or to the third party.”
I feel ya and always wondered about the huge disparity in closing dates. I’ve seen some as early as 6 weeks and as long as 6 months! What gives?
Thanks for sharing! Mine was also at the exact price per point!
This actually happened in the fall for some people when it was taking disney 45 to 60 days to pass ROFRs. From what I read then, even with this wording your broker will not close until Disney responds.
I could see why the broker would hold off until Disney actually decides. It’s like a loose end...
