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

[DonMacGregor]

I send my funds as soon as I sign... I want them to be there so that they can close ASAP once the seller gets everything back rather than having to wait again for me to wire the funds. Not really doing much for me sitting in a checking account waiting and not really worried about getting it back if the deal falls apart... but everyone is different...

Same here. A bank is a bank, and title companies are heavily regulated and have fiduciary responsibilities under the law. The money isn't going anywhere.

 

[Morganjacar]

Morganjacar---$80-$12000-150-SSR-Jun-150/22, 300/23, 150/24-Seller pays closing- sent 3/8

Update- fidelity still hasn't sent to ROFR. Seller and I both signed promptly and all paperwork returned immediately. Evy must be overwhelmed because she's definitely not responding to my inquiry as to when it will be sent to ROFR.

 

[Herding_Cats]

Update- fidelity still hasn't sent to ROFR. Seller and I both signed promptly and all paperwork returned immediately. Evy must be overwhelmed because she's definitely not responding to my inquiry as to when it will be sent to ROFR.

It just took 4 days for our contract to get sent to rofr with fidelity

 

[Morganjacar]

It just took 4 days for our contract to get sent to rofr with fidelity

but why!

 

[AstroBlasters]

I send my funds as soon as I sign... I want them to be there so that they can close ASAP once the seller gets everything back rather than having to wait again for me to wire the funds. Not really doing much for me sitting in a checking account waiting and not really worried about getting it back if the deal falls apart... but everyone is different...

I’m earning 4.5% in a money market.

I’ve also had a seller fail to close after going dark for weeks.

I don’t see any upside to wiring the money before the seller sends back the notarized docs.

 

[DisneyTakeAllMyMoney]

I’m earning 4.5% in a money market.

I’ve also had a seller fail to close after going dark for weeks.

I don’t see any upside to wiring the money before the seller sends back the notarized docs.

So if it's held up a month, you lose $75 in interest (ballparking a $20k transaction which most of my recent ones are)... which perhaps matters to you, but I would not sweat that. I'm on the hook until the close date either way, I can't go take the funds to buy something else, it's in the hands of a reputable title company, and I want to be able to close as soon as the sellers send their docs. They could forget to let you know they had the seller's docs for a week... and then you still have to set up the wire and if it's after the cutoff it doesn't go until the next day... and who knows when they will check the file again to make sure everything is in. I don't want to keep going into another pile/queue in the title company personally - want them to have everything from me and then when everything comes in from the seller there's no need for extra communication or touches to prolong the close... but to each his own I prefer the one touch sort of route wherever possible and also know that's easier on the title company's side than multiple touches and multiple communication points. If the seller goes dark, I can't do anything until the close date comes and goes, and then they owe me my money back. So to me there's no upside to making my transaction more complicated and piecemeal. And I've thankfully never had a seller stall LOL - 19 resale contracts later they all seem to want their money. But I wouldn't stress if they did - gotta wait out the close date and if they breach the contract by not doing their part to close I will just move on.

 

[CathoDad22]

I've emailed a few times now and finally got her to tell me it would be by wednesday, which would be 19 calendar days (not business days). But my last email bluntly said, "other companies are getting documents out faster, what's going on with you guys?"

I emailed back today to say I was a little frustrated at how long it was taking, given that I was still seeing people here getting docs in 2-3 days. They sent my closing docs 30 minutes later.

 

[E2ME2]

I’m earning 4.5% in a money market.

I’ve also had a seller fail to close after going dark for weeks.

I don’t see any upside to wiring the money before the seller sends back the notarized docs.

My seller is AWOL also !? It took them a week to sign the original purchase contract, but it;s been 2 weeks since we returned our Closing Docs. We learned from our last purchase to only send the minimum required to cover downpayment and closing, and will not release the balance until we get confirmation that the sellers have signed. However, I'd still like to have that happen quickly, as I am running out of time to be able to use my new points at the 11-month mark!!

 

[Paul Stupin]

Same here. A bank is a bank, and title companies are heavily regulated and have fiduciary responsibilities under the law. The money isn't going anywhere.

Same here as well. I’ve never had any issues, and it’s not like holding the money back provides any leverage. It also leads to a faster closing.

 

[AstroBlasters]

My seller is AWOL also !? It took them a week to sign the original purchase contract, but it;s been 2 weeks since we returned our Closing Docs. We learned from our last purchase to only send the minimum required to cover downpayment and closing, and will not release the balance until we get confirmation that the sellers have signed. However, I'd still like to have that happen quickly, as I am running out of time to be able to use my new points at the 11-month mark!!

I empathize with you. I hope it gets resolved quickly! The waiting and uncertainty is stressful when your vacation is on the line.

With my most recent contract the agent let me know that the seller is out of town on business next week and that he may try to run to a bank to get a notary or he may not get the docs signed until 2 weeks from now. We are not in a rush, but it was really nice to have the communication.

 

[Bmramaut]

Update- fidelity still hasn't sent to ROFR. Seller and I both signed promptly and all paperwork returned immediately. Evy must be overwhelmed because she's definitely not responding to my inquiry as to when it will be sent to ROFR.

We are working with Evy too. I finally got a hold of her about the delay on being sent to ROFR. I got the email about an hour later that it had.

 

[dizzy.cali]

I emailed back today to say I was a little frustrated at how long it was taking, given that I was still seeing people here getting docs in 2-3 days. They sent my closing docs 30 minutes later.

Same. I was next on the list apparently.

 

[Electron_si]

For several months now, it has been typical for estoppel to be issued at the same time the ROFR waiver is issued.

Good to know, thank you

 

[ClaraOswald]

ClaraOswald---$235-$39594-160-VGC-Jun-0/22, 185/23, 160/24- sent 3/11

 

[Chili327]

ClaraOswald---$235-$39594-160-VGC-Jun-0/22, 185/23, 160/24- sent 3/11

Awesome.!!

 

[ClaraOswald]

Awesome.!!

I'm super excited! I feel like maybe I could have waited around longer for a slightly better price, but in the end, I decided I didn't want to take that risk and miss out on a contract that works for us.

 

[Jenglish13]

I was told the same thing by Fidelity.

So I did two things. First I called Disney’s QA team and was told the opposite - they are not requiring that.

Second call I made was to Fidelity’s senior manager.

Proceeded with contracts combined into one closing.

Magic.

It’s called “make a story so we can collect multiple admin fees”. Same old Fidelity BS.

Wow, that's so shady and unethical!

 

[elenex]

I'm super excited! I feel like maybe I could have waited around longer for a slightly better price, but in the end, I decided I didn't want to take that risk and miss out on a contract that works for us.

Good job and good price. Welcome home, neighbor!

 

[Paul Stupin]

I was told the same thing by Fidelity.

So I did two things. First I called Disney’s QA team and was told the opposite - they are not requiring that.

Second call I made was to Fidelity’s senior manager.

Proceeded with contracts combined into one closing.

Magic.

It’s called “make a story so we can collect multiple admin fees”. Same old Fidelity BS.

I think I would have walked away from the deal so that crooked Fidelity agent would not get rewarded with a commission. But kudos for the savings!

 

[Jimmy Geppetto]

I think I would have walked away from the deal so that crooked Fidelity agent would not get rewarded with a commission. But kudos for the savings!

I thought about it. But it was an OKWE for $90 per point. 47 and 30 point contracts.

Couldn’t say no to that even though I detest Fidelity.