ROFR Thread Jan to March 2020 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[Pintrader88]

congrats I have one from 2/26 so hopefully hear back today.

Same here on one from 2/26 congrats

 

[Mixed nuts]

2/26 as well
Good luck to all of us

 

[Brian Noble]

I can see Disney stepping up ROFR big time to hold the line on value in the secondary market.

IMO this is wishful thinking. They didn't do this during the Great Recession when resale prices dropped significantly. Since then, they have implemented three rounds of restrictions that reduce the value of resale.

 

[E2ME2]

IMO this is wishful thinking. They didn't do this during the Great Recession when resale prices dropped significantly. Since then, they have implemented three rounds of restrictions that reduce the value of resale.

Isn't there a delicate balance they need to maintain with respect to the Resale Prices?
If resale becomes o very cheap compared to Direct (say less than 50% of Direct, across the board), then many more people may opt for resale regardless of the Direct Perks.
So I don't think it's in DVC's best interest to decimate the resale market prices. If, on the other hand, they maintain the existing differentials between Resale & Direct, enough folks may consider the Direct benefits, particularly on contracts of 100 points or less.
????

 

[ndstaniv]

I can’t help but wonder how the following situation would unfold. If a buyer has a completed contract in ROFR and the contract has a delayed “no earlier than” closing date in early April based on a pending vacation the current owner is taking at the end of March. Then, while in ROFR, the resort in question closes preventing the planned vacation the seller has booked from happening. What happens to the unused points from the cancelled vacation. Do the unused points transfer with the sale? Does the sale cancel as the points in the contract have changed? I’d imagine no one knows the right answer as it’s an interesting situation which probably hasn't come up in the past. I welcome any theories.

 

[poofyo101]

I can’t help but wonder how the following situation would unfold. If a buyer has a completed contract in ROFR and the contract has a delayed “no earlier than” closing date in early April based on a pending vacation the current owner is taking at the end of March. Then, while in ROFR, the resort in question closes preventing the planned vacation the seller has booked from happening. What happens to the unused points from the cancelled vacation. Do the unused points transfer with the sale? Does the sale cancel as the points in the contract have changed? I’d imagine no one knows the right answer as it’s an interesting situation which probably hasn't come up in the past. I welcome any theories.

I am kind of in this situation now. Will let you know.

 

[Jetku]

I can’t help but wonder how the following situation would unfold. If a buyer has a completed contract in ROFR and the contract has a delayed “no earlier than” closing date in early April based on a pending vacation the current owner is taking at the end of March. Then, while in ROFR, the resort in question closes preventing the planned vacation the seller has booked from happening. What happens to the unused points from the cancelled vacation. Do the unused points transfer with the sale? Does the sale cancel as the points in the contract have changed? I’d imagine no one knows the right answer as it’s an interesting situation which probably hasn't come up in the past. I welcome any theories.

I didn’t even realize but I’m in that situation now. May 16th earliest closing.

I can’t imagine anything for us will change even if they cancel their trip though. It’s a June contract and their current trip is utilizing banked points from 2018. So once June 1 hits, those points will expire.

A real shame for the seller. . At this point, I hope this doesn’t shift our close but the world is going to change a lot in the next 2 months. I will definitely be understanding as possible, and hope we are still able to close as planned from our side too.

 

[Phijammamama]

SherylLC---$138-$15203-100-BCV-Apr-0/19, 200/20, 100/21- sent 3/13/20

that is a great price on all of those 2020 points! Well done!

 

[Sandisw]

I can’t help but wonder how the following situation would unfold. If a buyer has a completed contract in ROFR and the contract has a delayed “no earlier than” closing date in early April based on a pending vacation the current owner is taking at the end of March. Then, while in ROFR, the resort in question closes preventing the planned vacation the seller has booked from happening. What happens to the unused points from the cancelled vacation. Do the unused points transfer with the sale? Does the sale cancel as the points in the contract have changed? I’d imagine no one knows the right answer as it’s an interesting situation which probably hasn't come up in the past. I welcome any theories.

I have a contract with a delayed closing in June. Hopefully, that doesn’t get canceled as we should be open by then. Mine has not yet gone to ROFR, but I am paying all of 2029 MFs because I have 84 points out of 150 being used for the contract,

So, if we don’t find out within about 10 days...paperwork from buyer supposed to be signed tomorrow to be sent to Disney...then I’ll be out of luck because I’d be beyond the rescind date.

 

[superden]

UPDATE:

superden---$97-$9186-80-AUL-Jun-0/19, 80/20, 80/21-Subsidized Dues- sent 2/25, passed 3/13

 

[DisneyYannuzzFam]

How do you think ROFR will be affected with he recent closures and more and more non-essential businesses closes due to coronavirus?

 

[Jetku]

How do you think ROFR will be affected with he recent closures and more and more non-essential businesses closes due to coronavirus?

I suppose it depends if the folks can work remotely or not. The closures don’t impact remote workers. Legally though I believe Disney has only 30 days so I don’t think they get a grace period for closures. I wonder (and doubt) Disney would pursue legal action to extend their window.

Though perhaps estoppel will slow...?

 

[DisneyYannuzzFam]

I suppose it depends if the folks can work remotely or not. The closures don’t impact remote workers. Legally though I believe Disney has only 30 days so I don’t think they get a grace period for closures. I wonder (and doubt) Disney would pursue legal action to extend their window.

Though perhaps estoppel will slow...?

Also if the banks close not sure how I will get a certified check for closing.

 

[poofyo101]

I suppose it depends if the folks can work remotely or not. The closures don’t impact remote workers. Legally though I believe Disney has only 30 days so I don’t think they get a grace period for closures. I wonder (and doubt) Disney would pursue legal action to extend their window.

Though perhaps estoppel will slow...?

its not 30 days from when it is submitted. its 30 days prior to closing.

 

[hlhlaw07]

I suppose it depends if the folks can work remotely or not. The closures don’t impact remote workers. Legally though I believe Disney has only 30 days so I don’t think they get a grace period for closures. I wonder (and doubt) Disney would pursue legal action to extend their window.

Though perhaps estoppel will slow...?

its not 30 days from when it is submitted. its 30 days prior to closing.

Neither is correct. Disney doesn’t have 30 days to decide. You have to give them at least 30 days to decide. They can take all the way up to closing if they want. If closing is set 30 days after you sign the contract and send to Disney, then yes, they have 30 days to decide. But if closing is set at 60 days, then you have effectively given them 60 days to decide. And so on...

 

[CmdrThor]

Neither is correct. Disney doesn’t have 30 days to decide. You have to give them at least 30 days to decide. They can take all the way up to closing if they want. If closing is set 30 days after you sign the contract and send to Disney, then yes, they have 30 days to decide. But if closing is set at 60 days, then you have effectively given them 60 days to decide. And so on...

I always wonder why resale companies set the closing so far out. Mine put the contract must close within 75 days of the effective date of the contract. I suppose I could have asked to change that, but I am not in any real hurry so I did not. I would think the seller wants their money sooner than later though.

 

[poofyo101]

Neither is correct. Disney doesn’t have 30 days to decide. You have to give them at least 30 days to decide. They can take all the way up to closing if they want. If closing is set 30 days after you sign the contract and send to Disney, then yes, they have 30 days to decide. But if closing is set at 60 days, then you have effectively given them 60 days to decide. And so on...

Thanks for the clarification. makes sense.

 

[Sandisw]

I suppose it depends if the folks can work remotely or not. The closures don’t impact remote workers. Legally though I believe Disney has only 30 days so I don’t think they get a grace period for closures. I wonder (and doubt) Disney would pursue legal action to extend their window.

Though perhaps estoppel will slow...?

I can say that Disney sent emails to employees last week about being prepared to work from home. My DD 27 works for Disney Theater and with all the Broadway shows shut down, they aren’t going in and doing work remotely,

So, I think If those in the ROFR department can figure out how to do things remotely, it shouldn’t impact things.

 

[ScubaCat]

So, I think If those in the ROFR department can figure out how to do things remotely, it shouldn’t impact things

I'm sure that, from home, they can just as easily arbitrarily let contracts sit in their inboxes for approximately 7-35 days before spinning the official DVC roulette wheel to determine whether to waive or buy.

 

[LoveMugsNPins]

I'm sure that, from home, they can just as easily arbitrarily let contracts sit in their inboxes for approximately 7-35 days before spinning the official DVC roulette wheel to determine whether to waive or buy.

That could be an activity they can do with their kids!