ROFR Thread April to June 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[mkatsy]

Unfortunately it did for the guy in the Navy…he just didn’t want to take a day off mid week and was waiting for his day off to fall on a week day.

It’s one of the worst part of resale.

I know..,which is why I was willing to lose my deposit and walk away…there was a direct incentive for RIV going on that I wanted to take advantage of if the resale fell through and would be ending.

But, to be honest, I prefer direct now so I dont need to do this anymore! Lol

that's what I brought up to my broker ... there is a great direct incentive at VGF right now, and I've got tens of thousands of dollars sitting in escrow collecting dust. I told him I'd rather have the VGF direct and he said he'd reach out to the seller and see what the delay is. I wish (and perhaps there is) an option to change the contract verbiage to reflect at 14 day wait to cancel verses a 30 day. I don't have the patience for this.

 

[karen4546]

I was going to walk before the closing date of the contract so it would be considered a buyer default.

The closing date was still 3 weeks away and after the incentive would end so it was worth it if I had to walk away. But, it was enough for seller to become motivated.

This may be a dumb question, but what was the motivation to the seller if you were the one going to lose your deposit?

What would they lose?

I ask this because the person we are buying from had difficulty figuring out docusign and then had to have her daughter upload docs for her which caused a week delay before the contract was sent to ROFR.

I am expecting the similar scenario when and if the contract passes ROFR-the seller having issues with notary, sending in docs etc.

 

[mkatsy]

This may be a dumb question, but what was the motivation to the seller if you were the one going to lose your deposit?

What would they lose?

I ask this because the person we are buying from had difficulty figuring out docusign and then had to have her daughter upload docs for her which caused a week delay before the contract was sent to ROFR.

I am expecting the similar scenario when and if the contract passes ROFR-the seller having issues with notary, sending in docs etc.

If the issue is simply that they are elderly and they can't navigate the technology, they can hire a mobile notary to come to their home/work.

 

[Sandisw]

This may be a dumb question, but what was the motivation to the seller if you were the one going to lose your deposit?

What would they lose?

I ask this because the person we are buying from had difficulty figuring out docusign and then had to have her daughter upload docs for her which caused a week delay before the contract was sent to ROFR.

I am expecting the similar scenario when and if the contract passes ROFR-the seller having issues with notary, sending in docs etc.

They lose the sale and have to start all over again. So, it was enough, I guess.

 

[karen4546]

If the issue is simply that they are elderly and they can't navigate the technology, they can hire a mobile notary to come to their home/work.

as i posted when asking sandisw, seller has her daughter. Surely the broker has given those options to the seller.

I don't know that it is "simply that they are elderly". Plenty of people who some may consider "elderly" are fine with navigating technology. I am no spring chicken myself---lol. Just turned 54 this week

fingers crossed the rest of the process goes smoothly.

 

[karen4546]

They lose the sale and have to start all over again. So, it was enough, I guess.

Oh, well I sort of lowballed @ $95 pp and they probably could get more if they wanted to pull out of the deal.

 

[Sandisw]

that's what I brought up to my broker ... there is a great direct incentive at VGF right now, and I've got tens of thousands of dollars sitting in escrow collecting dust. I told him I'd rather have the VGF direct and he said he'd reach out to the seller and see what the delay is. I wish (and perhaps there is) an option to change the contract verbiage to reflect at 14 day wait to cancel verses a 30 day. I don't have the patience for this.

Once you are beyond the 10 days you can back out as a buyer, you are bound to follow through with the contract unless the seller defaults.

The closing date is never going to be set too soon because it needs to be far enough out for the process to happen.…which is at least 30 days for ROFR. then at least 10 days for estoppel which is the law, time to get closing documents to both seller and buyer, and enough reasonable time for a seller and buyer to complete the transaction.

It is why most closing dates are at least 60 days out. As a seller, I would never had sold without that timeline either.

It is frustrating, but as a buyer, your only recourse is seller default, which means the contract doesn’t close as promised.

 

[Sandisw]

Oh, well I sort of lowballed @ $95 pp and they probably could get more if they wanted to pull out of the deal.

They would owe the commission though to the broker so I very much doubt you have sellers who want to go through it all for a few extra dollars.

 

[WDWfantasy]

WDWfantasy---$100-$16725-155-SSR-Feb-0/22, 75/23, 155/24, 155/25- sent 5/29, passed 6/16

Yippee!!

 

[pixieprincess925]

pixieprincess925---$138-$23403-160-BLT-Apr-0/22, 116/23, 160/24, 160/25- sent 6/16

 

[sndral]

Now THAT is not okay!! What if his next weekday off wasn't until another month?

Technically as long as the seller returns their notarized doc.s & funds for any shortage if they have a mortgage & are selling at a loss before the closing date stated in the contract it is ok, not that I liked the fact that the closing date was so long after I passed ROFR the time I had really slow sellers & lost any chance to use a lot of unbanked current use year points - those sellers were just breaking even, so no rush on their end I guess .

 

[Carito]

WDWfantasy---$100-$16725-155-SSR-Feb-0/22, 75/23, 155/24, 155/25- sent 5/29, passed 6/16

Yippee!!

we sent 6/2. Can’t wait!

 

[pixieprincess925]

WDWfantasy---$100-$16725-155-SSR-Feb-0/22, 75/23, 155/24, 155/25- sent 5/29, passed 6/16

Yippee!!

that was really quick!
I always wonder what make Disney sit on some ROFRs and quickly pass others...

 

[WDWfantasy]

that was really quick!
I always wonder what make Disney sit on some ROFRs and quickly pass others...

I wonder the same thing . I had no idea what to expect for the waiting periods going into this purchase. Everyone’s timing of all the different steps seems to vary quite a bit!

 

[NY Pirate Princess]

Huzzah! We passed ! Got the email at 5:30. We have magic for title company so another long wait for closing docs....

NY Pirate Princess---$92.5-$10875-100-OKW-Jun-0/22, 100/23, 100/24- sent 5/26, passed 6/16

 

[KStocker]

KStocker---$52-$27160-400-VB-Jun-0/22, 400/23, 400/24- sent 5/28, passed 6/16 and estoppel certificate was issued at the same time.

 

[SleighBelle]

For anyone interested in the next steps after ROFR, my timeline has been longer than others. I bought through the board sponsor and they are using Magic Vacation Title. Since there are no 2023 points left, and I am trying not to borrow points, I wasn’t in a hurry to close. But, yeesh, I am glad I am not in a hurry!

Sleighbelle---$135-$34839-250-PVB-Jun-0/21, 0/22, 0/23, 250/24- sent 4/25, passed 5/16—closing docs received 6/14–returned 6/16

 

[Good Ol Gal]

For anyone interested in the next steps after ROFR, my timeline has been longer than others. I bought through the board sponsor and they are using Magic Vacation Title. Since there are no 2023 points left, and I am trying not to borrow points, I wasn’t in a hurry to close. But, yeesh, I am glad I am not in a hurry!

Sleighbelle---$135-$34839-250-PVB-Jun-0/21, 0/22, 0/23, 250/24- sent 4/25, passed 5/16—closing docs received 6/14–returned 6/16

Yuck! That was a long time between ROFR and receiving closing docs.

Thank goodness you weren't in a hurry.

 

[Cfabar1]

Yuck! That was a long time between ROFR and receiving closing docs.

Thank goodness you weren't in a hurry.

When I used Magic and I was in a slight hurry, and shared it with them, they did absolutely nothing to help move the process along. I will not use them again.

 

[karen4546]

When I used Magic and I was in a slight hurry, and shared it with them, they did absolutely nothing to help move the process along. I will not use them again.

Thanks for the tip.
We are using Masontitle and heard great things —— with Cammie. But hopefully everything goes great. Of course I need to hear we passed ROFR first ! Sent 6/9