ROFR Thread Jan to March 2023 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[TheLyinKing]

I'm all about the points!

Heck yeah! It's basically free money lol. On top of that, i have a card with no interest for 18mo. I CAN pay all cash, but why not spread it out for 18 months haha. Let that other money sit in a long term savings account/bonds for the time being

 

[Jimmy Geppetto]

So here's a question for the more experienced:

Made an offer last week on a contract through Fidelity, and was responded to by the listing agent. The next day a different agent responded as the first agent was 'out of the office.' Came to an agreement with the owners on an offer and received contracts, etc in less than an hour. Then we needed them to be adjusted for us to put a larger amount on our card for the deposit (gotta earn those points!) so we received new contracts and a NEW authorization form for the deposit. That took another day. At this point everyone (buyers and sellers) has signed the contract.
But.
The language on the deposit authorization form contradicts itself "charge my credit card or bank account indicated below for $5,000.00 (NOT TO EXCEED $2,500.00 USD)" which is a leftover amount from the first form where the deposit was $1000. So we emailed the agent we had been dealing with back about this Friday morning. Does this need addressed/changed before we complete this form? And this morning I also emailed the contracts/forms person. And I still haven't gotten a response.

Do I email again? Do I call tomorrow? Which agent do I use...the original listing agent or the 2nd one that has done all of the work at this point? The forms/contract person? The title company? I'm kind of annoyed at this point. I'd like to get this to ROFR, and was hoping that would happen today.

You should always keep the deposit to the lowest possible. After you pass ROFR then you can make an additional cc payment up to the title company’s maximum as per their policy.

For example when using Mason I place a $1000 deposit (sometimes only $500 with one broker) and then will make a cc payment of $4000 with Mason after passing ROFR. The remaining is sent via wire.

 

[Sunnyore]

You should always keep the deposit to the lowest possible. After you pass ROFR then you can make an additional cc payment up to the title company’s policy.

For example when using Mason I place a $1000 deposit (sometimes only $500 with one broker) and then will make a cc payment of $4000 with Mason after passing ROFR. The remaining is sent via wire.

Is it your broker that offers this or Mason? I know Mason is the one that takes your earnest money. I normally do the bare min but this time I wanted points like everyone else. But I also worry about tying up my money if anything goes awry. I guess I’m asking if you need to tell your broker you want to do this or just tell Mason once your contract is waived?

 

[Jimmy Geppetto]

Is it your broker that offers this or Mason? I know Mason is the one that takes your earnest money. I normally do the bare min but this time I wanted points like everyone else. But I also worry about tying up my money if anything goes awry. I guess I’m asking if you need to tell your broker you want to do this or just tell Mason once your contract is waived?

Title company always takes the deposit and subsequent payments. However the broker can collect payment details and pass it on to title company. Especially the deposit.

Alot of people don’t know title companies will collect second payments via credit card (up to their max) after passing ROFR.

Edit: PP increased deposit to $5k but will now lose that entire $5k if they default. Whereas keeping the deposit at $1000 avoids this while also still getting points on cc.

Not saying anyone would default but you never know what could happen. I could get cold feet? Lose my job? I always want to minimize my risk where I can.

 

[Jimmy Geppetto]

Is it your broker that offers this or Mason? I know Mason is the one that takes your earnest money. I normally do the bare min but this time I wanted points like everyone else. But I also worry about tying up my money if anything goes awry. I guess I’m asking if you need to tell your broker you want to do this or just tell Mason once your contract is waived?

Just advise title company after waiver.

 

[E2ME2]

How long after ROFR does it generally take to close and for the contracts to be under your control? I'm 3 weeks away from my 11 month window on my usual trip, so hoping it's pretty quick.

Good Luck - & I hope it's a speedy process for us both.
I am also racing to close so that I can book some late Feb dates at 11Months.

 

[E2ME2]

I just finished my taxes. Ouch. My contagion is cured!

I literally just hit the SEND button on my taxes, then I openend my email from Mason with my closing docs., and now here we are Disboard-ing together

 

[E2ME2]

eMoneyBug---$119-$6905-50-AKV-Oct-50/22, 100/23, 50/24-seller pays MF '22- sent 2/6, passed 2/21
eMoneyBug---$119-$6905-50-AKV-Oct-50/22, 100/23, 50/24-seller pays MF '22- sent 2/6, passed 2/21

International Seller was selling 2 twin max loaded small point contracts so we bought them both.
$119 per point
$440.50 reimb for 2023 Maint Fee
$515 buyer paid closing

We do not own AKL, so excited to join the animal owners, plan on keeping this 10+ years and than we'll see.

Congrats - & welcome to the AKL neighborhood.
We love staying there for the Theming, the great restaurants, and (of course) for the Savannas

 

[TheLyinKing]

Title company always takes the deposit and subsequent payments. However the broker can collect payment details and pass it on to title company. Especially the deposit.

Alot of people don’t know title companies will collect second payments via credit card (up to their max) after passing ROFR.

Edit: PP increased deposit to $5k but will now lose that entire $5k if they default. Whereas keeping the deposit at $1000 avoids this while also still getting points on cc.

Not saying anyone would default but you never know what could happen. I could get cold feet? Lose my job? I always want to minimize my risk where I can.

Good to know! I'll let my title company know when they send me closing docs!

 

[E2ME2]

Although if you use Mason for closing, then you will probably receive closing documents from Mason before hearing from Fidelity. That's been my experience.

I've heard that often, on these boards, BUT - I had Fidelity alert me on Thursday that I passed ROFR, and I didn't hear from Mason until this morning. No complaints about either, just pointing out that Fidelity is usually very responsive also!

 

[Cfabar1]

Am hoping some contracts that interest me show up soon… I’m ready for another bite at the ROFR apple!!!

 

[ClaraOswald]

Wait...you can pay for this stuff on a CC? What are the amount limits on that? Would love as many reward dollars as possible.

 

[intamin]

Wait...you can pay for this stuff on a CC? What are the amount limits on that? Would love as many reward dollars as possible.

You can pay the deposit with CC. Certain places will allow up to a 5,000 dollar deposit. The rest is done through wire or cashiers check.

 

[Herding_Cats]

Title company always takes the deposit and subsequent payments. However the broker can collect payment details and pass it on to title company. Especially the deposit.

Alot of people don’t know title companies will collect second payments via credit card (up to their max) after passing ROFR.

Edit: PP increased deposit to $5k but will now lose that entire $5k if they default. Whereas keeping the deposit at $1000 avoids this while also still getting points on cc.

Not saying anyone would default but you never know what could happen. I could get cold feet? Lose my job? I always want to minimize my risk where I can.

This is great advice that I wish I had known a week ago.

 

[Jimmy Geppetto]

Wait...you can pay for this stuff on a CC? What are the amount limits on that? Would love as many reward dollars as possible.

Mason is $5000

First Am is $2500

I haven’t used any others so can’t confirm Magic Title’s limit.

 

[DISJeff74]

DISJeff74---$100-$10360-90-OKW(E)-Apr-0/22, 180/23, 90/24 - sent 2/27

Lets goooooo!

 

[Iovethemouse]

lovethemouse---$151-$53983-333-VGF-Jun-0/21, 0/22, 333/23, 333/24- sent 2/13, passed 2/26 I thank all that have posted their experiences here. It definitely helped me during this process!

 

[HIRyeDVC]

Wait...you can pay for this stuff on a CC? What are the amount limits on that? Would love as many reward dollars as possible.

If you bought direct, you can charge the entire amount on your credit card. It glorious......ly easy and fast.

 

[HIRyeDVC]

I literally just hit the SEND button on my taxes, then I openend my email from Mason with my closing docs., and now here we are Disboard-ing together

well, I hope your tax situation was better than mine!

 

[AstroBlasters]

If you bought direct, you can charge the entire amount on your credit card. It glorious......ly easy and fast.

You can use the Disney CC to get 0% interest for 6-months and the reward points to pay dues. Given that money market are north of 4%, that’s like 2% cash back + the points!