ROFR Thread April to June 2022 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

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Well our POLY 100pt/$162 passed today, and then our broker informed us that the seller messed up and didn’t disclose a Jan reservation so we can’t close until end of January. So we are out- not waiting. So on to the next one….

I am so sorry. Is it me, or do we seem to be getting more reports lately of sellers not being up front with future reservations? You may be the 3rd person lately who has mentioned it wasn't disclosed at the start...
 
I am so sorry. Is it me, or do we seem to be getting more reports lately of sellers not being up front with future reservations? You may be the 3rd person lately who has mentioned it wasn't disclosed at the start...
I was wondering the same thing. There should be some sort of financial penalty to the seller for not properly disclosing the conditions of the points that they are selling. That's a lot of wasted time, energy, and effort for the buyer to have to just shrug their shoulders and move on.
 
I was wondering the same thing. There should be some sort of financial penalty to the seller for not properly disclosing the conditions of the points that they are selling. That's a lot of wasted time, energy, and effort for the buyer to have to just shrug their shoulders and move on.

You mean the Brokers would actually have to look out for the buyers best interest for once? Say it ain’t so. (Sarcasm folks).
 


I was wondering the same thing. There should be some sort of financial penalty to the seller for not properly disclosing the conditions of the points that they are selling. That's a lot of wasted time, energy, and effort for the buyer to have to just shrug their shoulders and move on.
With dvcstore.com they made us provide a point history going back years before listing as well as respond as to whether we have any current reservations. So if other other brokers do the same it sure seems like fraud on the sellers part. There should surely be repercussions.
 
I had a small glitch with my poly resale (that I'm waiting on in rofr) too. Broker and seller did inform and work to resolve in the contract almost immediately... but it was a wrinkle, and it did affect points by having borrowed some from the next year which I will have to sell now (assuming ROFR clears). Not a game changer, but a small irritation.
One could wonder, are the sellers being kinda clueless, or intentionally hoping buyer will be consumed with buyer's euphoria that they will overlook just wanting to move forward...
 
With dvcstore.com they made us provide a point history going back years before listing as well as respond as to whether we have any current reservations. So if other other brokers do the same it sure seems like fraud on the sellers part. There should surely be repercussions.
I'm surprised this isn't standard practice. I asked for screenshots/verification of points after we went through ROFR on my first contract (didn't know if that was something we could do when making the offer). Did the same for the second one as well both before going to ROFR and before sending money for closing. Both times seller had no problems providing them.
 


I had a small glitch with my poly resale (that I'm waiting on in rofr) too. Broker and seller did inform and work to resolve in the contract almost immediately... but it was a wrinkle, and it did affect points by having borrowed some from the next year which I will have to sell now (assuming ROFR clears). Not a game changer, but a small irritation.
One could wonder, are the sellers being kinda clueless, or intentionally hoping buyer will be consumed with buyer's euphoria that they will overlook just wanting to move forward...
Oops. I left out they had made a large Dec reservation they forgot to mention since the listing. They accepted my offer, canceled the reservation, but points had shifted due to being borrowed. It's my bad luck I can't use personally before end of use year. If we get it.
 
With dvcstore.com they made us provide a point history going back years before listing as well as respond as to whether we have any current reservations. So if other other brokers do the same it sure seems like fraud on the sellers part. There should surely be repercussions.

I have dealt with several brokers and they all did the same. Now, owners with multiple contracts can make mistakes...I did when sellling...but the other way...delayed closing and realized the trip was on a different membership! LOL

But, maybe some penalty for it might be in order...
 
I had a small glitch with my poly resale (that I'm waiting on in rofr) too. Broker and seller did inform and work to resolve in the contract almost immediately... but it was a wrinkle, and it did affect points by having borrowed some from the next year which I will have to sell now (assuming ROFR clears). Not a game changer, but a small irritation.
One could wonder, are the sellers being kinda clueless, or intentionally hoping buyer will be consumed with buyer's euphoria that they will overlook just wanting to move forward...

Ask the seller to reach out to MS and see if they can get an exception to un-borrow the points because they are selling. They did it for me in March! It can't hurt to ask!
 
I wonder if something happened with the estate. But it seems like they would have notified the title company...unless they know that you, as a buyer, can back out and want you to do that...this way, they don't breach the contract?

I hope you hear something soon. Personally, would have canceled a long time ago, but getting a contract at that price won't be easy again.
Yeah- if the administrator/executor doesn’t have full letters yet or if they haven’t set up a tax ID for the estate, that can take time. The surrogates courts in NY are horribly slow and backed up right now.
 
Ask the seller to reach out to MS and see if they can get an exception to un-borrow the points because they are selling. They did it for me in March! It can't hurt to ask!
Great idea! This would be our 1st dvc contract so I am still noobie naive, scouring the board for knowledge. Really appreciate the recommendation!
 
Anyone have experience with a seller ghosting them? We passed ROFR on an 80 Pt SSR contract at $126/pt on May 4. We sent our documents back right away. Cammy said the sellers had an appt with notary that next week but apparently they’ve received no other updates and the sellers are unresponsive. Broker was very apologetic and said we can get refund at this point. BTW the owner is deceased and someone is selling on his behalf…there was an extra addendum in the contract for it. We’re thinking we’ll just try to wait it out but I’m not very confident at this point. But I’m less confident in passing ROFR again.
Have you gone past the closing date? Read your contract. I had a buyer back out on closing day and they lost their deposit which was split with the broker, title agent and us as detailed in the contract. We just kept the contract.

Good luck!
 
I was wondering the same thing. There should be some sort of financial penalty to the seller for not properly disclosing the conditions of the points that they are selling. That's a lot of wasted time, energy, and effort for the buyer to have to just shrug their shoulders and move on.
I agree. I was so mad too because the broker was kind of so nonchalant about it. He was like- oh well they made a mistake. Sorry. They are probably the biggest company out there and I was shocked they don’t go over this with these sellers before they list. Well we already have an accepted offer on another one- with a different company, so whatever. Just mad we waited a month for nothing.
 
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