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

[hlhlaw07]

I checked on moving on with closing with title company and agent. Neither was willing to do anything even though technically we could. Basically told to just wait and it should eventually come. Worst case scenario I'm down to 26 days until I get my deposit back.

Which broker and closing company? I ask because they are being paid to act in the buyer’s and seller’s best interest, which would be closing on the scheduled date as long as 30 days have passed. Their reluctance to do so is they are probably hesitant to upset Disney, but that would be a breach of their obligations as they do not work for Disney.

I had a contract last year go over 50 days in ROFR (unfortunately the contract set closing at 60 days after execution). I ensured the broker and closing agent both knew I expected the contract to close as scheduled and they needed to do whatever they needed to do to ensure that it would if Disney either passed or failed to exercise their right by the scheduled closing date.

At the time there were quite a few people who had contracts going well past 30 days and there were a few agents who were willing to close on time and others who were worried about upsetting Disney. I would steer clear of those who are worried about upsetting Disney. That is not what they are being paid to do and is definitely not what they are contractually obligated to do.

Edited to add: of course none of it mattered as Disney exercised ROFR and took the contract.

 

[db24]

Which broker and closing company? I ask because they are being paid to act in the buyer’s and seller’s best interest, which would be closing on the scheduled date as long as 30 days have passed. Their reluctance to do so is they are probably hesitant to upset Disney, but that would be a breach of their obligations as they do not work for Disney.

I had a contract last year go over 50 days in ROFR (unfortunately the contract set closing at 60 days after execution). I ensured the broker and closing agent both knew I expected the contract to close as scheduled and they needed to do whatever they needed to do to ensure that it would if Disney either passed or failed to exercise their right by the scheduled closing date.

At the time there were quite a few people who had contracts going well past 30 days and there were a few agents who were willing to close on time and others who were worried about upsetting Disney. I would steer clear of those who are worried about upsetting Disney. That is not what they are being paid to do and is definitely not what they are contractually obligated to do.

Edited to add: of course none of it mattered as Disney exercised ROFR and took the contract.

I'm using Fidelity (www.fidelityresales.com) and Mason title. Title company basically said they couldn't move to closing without Fidelity telling them to. I wish I would've known about closing dates being important because I'd like to have this one at 60 days so I could just be done with it next week and move on to something else. The contract I have is set for 75 days closing after signing.

 

[RachStu]

I'm using Fidelity (www.fidelityresales.com) and Mason title. Title company basically said they couldn't move to closing without Fidelity telling them to. I wish I would've known about closing dates being important because I'd like to have this one at 60 days so I could just be done with it next week and move on to something else. The contract I have is set for 75 days closing after signing.

We are with Fidelity and Mason too and have a very similar deal to yours for AKV. We are still waiting for our contract to be submitted for ROFR having signed on 16 Feb. Just checked our contract and it also specifies 75 days as the closing period.

 

[hlhlaw07]

I'm using Fidelity (www.fidelityresales.com) and Mason title. Title company basically said they couldn't move to closing without Fidelity telling them to. I wish I would've known about closing dates being important because I'd like to have this one at 60 days so I could just be done with it next week and move on to something else. The contract I have is set for 75 days closing after signing.

Can’t say I’m surprised about it being fidelity. I have had a few really bad experiences with them to where I won’t even consider one of their contracts no matter the deal. After my experience last year, I now make any offers contingent on them writing the contract with a 30 day close. I don’t think they should give Disney any more time than required.

 

[poofyo101]

Was just told another one submitted on 2/11 was taken ROFR. will update thread later. AKL this time.

 

[Sandisw]

Was just told another one submitted on 2/11 was taken ROFR. will update thread later. AKL this time.

Im sorry you aren’t having a good day.

 

[Lizzy1311]

Was just told another one submitted on 2/11 was taken ROFR. will update thread later. AKL this time.

So your AKL and VGF were taken?!

 

[poofyo101]

Correct. VGF submitted 2/10 and AKL 2/11

 

[poofyo101]

Im sorry you aren’t having a good day.

Sucks when you have no control haha. but onto the next one.

 

[Lizzy1311]

Correct. VGF submitted 2/10 and AKL 2/11

That’s a tough day! Especially both of them. They’re moving through the take backs at a much quicker rate as I’m still seeing 2/5 waiting to hear back.
Mine went 2/13. Now I’m nervous.

 

[poofyo101]

That’s a tough day! Especially both of them. They’re moving through the take backs at a much quicker rate as I’m still seeing 2/5 waiting to hear back.
Mine went 2/13. Now I’m nervous.

yeah seems like it. I made sure to check the dates to confirm. I have two other ones submitted 2/11 which I have not heard back from yet.

 

[DadDVC]

This is my second BLT contract. My first one passed at $135 so I’m hoping this one does as well. However, this one has 2019 banked points.

DadDVC---$135-$23250-160-BLT-Feb-0/19, 320/20, 160/21- sent 2/24

 

[Adam Martinez]

I broke down and finally bought a Grand Californian contract, I’m so happy to put the days of relentless stalking behind me!

Adam Martinez---$190-$20668-100-VGC-Feb-0/19, 126/20, 100/21, 100/22- sent 2/5, passed 2/21

 

[Perelandra]

Correct. VGF submitted 2/10 and AKL 2/11

I’m curious what you paid per point for the AKL. I have one for $100 per point that still has some 19 points and all the 20 and 21 points that was submitted 2/14 and I’m anxious to see which way it goes.

 

[poofyo101]

I’m curious what you paid per point for the AKL. I have one for $100 per point that still has some 19 points and all the 20 and 21 points that was submitted 2/14 and I’m anxious to see which way it goes.

I paid 105 but the 2020 dues were paid by the seller.

 

[poofyo101]

poofyo101---$105-$32500-300-AKV-Dec-426/19, 270/20, 300/21-seller pays mf' 20- sent 2/11, taken 2/25

 

[Nappy1380]

I paid 105 but the 2020 dues were paid by the seller.

It seems like the seller paying dues really sealed the deal for this to be taken. Win/Win for Disney as those points are now pure profit.

 

[Perelandra]

It seems like the seller paying dues really sealed the deal for this to be taken. Win/Win for Disney as those points are now pure profit.

True, but I’m sure Disney considers the entire picture. After all they will still recoup most of the 20 maintenance fees when they sell the points direct to a new owner. What strikes me about that contract is how loaded it was. 426 points still left from 2019 that are available to bank.

 

[TexasChick123]

Correct. VGF submitted 2/10 and AKL 2/11

How much was the VGF one they bought back? Sorry they took two.

 

[poofyo101]

True, but I’m sure Disney considers the entire picture. After all they will still recoup most of the 20 maintenance fees when they sell the points direct to a new owner. What strikes me about that contract is how loaded it was. 426 points still left from 2019 that are available to bank.

Might be that they would get the dues twice essentially.