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

Status
Not open for further replies.
Fidelity is the Broker. They will send your file to a title insurer. They typically use Mason or First American. When you receive closing documents it will include a settlement statement. On this statement you will see all of your closing fees. For example with Mason they charge a closing fee of $300 which is their fee to handle your file. But the title insurance premium is $100 (for my last file. It varies depending on the value of the contract). They also charge other fees for title searches and deed registration etc. Brokers typically bundle all of these fees together when quoting your closing costs. Be careful with Fidelity as some agents add the admin fee to the closing fee and don’t disclose. Others are very transparent about it.
Thank you for the details. Thankfully, the agent mentioned the admin fee upfront. Our offer was accepted yesterday and docs were signed by both us and the seller. Waiting for escrow to post deposit and it’ll be sent to ROFR. Looks like the escrow company is First American, not sure if it was the only option being an Aulani contract? I am looking forward to reviewing closing documents. 😬
 
Does the email notice come from your brokerage or is that a direct email from Disney? I'm assuming it's from the brokerage but am anxiously awaiting mine (also sent 3/16) and curious who delivers the news. Thanks.
I received an email from the contract coordinator at my broker’s office this morning.
 

Maggie713---$90-$20225-200-SSR-Sep-241/22, 200/23, 200/24- sent 3/23
My first contract, I’m so excited. This board has been an invaluable tool, the info, knowledge and guidance from members has been so incredibly helpful. I am so grateful. I think I have addonitis already
 
Narrator: We interrupt this thread for a moment of reflection.

Just as the run-up led to a lot of irrational exuberance on "prices will never fall and I can always rent so I will always make money!", the current market environment is creating a lot of froth as well. Everyone sees the newest low-water-mark, and suddenly assumes that every single seller is going to have to take that price, or even something lower. The ROFR thread has always had an element of one-upsmanship (or maybe downsmanship) but you can feel it gaining more momentum nearly every day.

It's easy to get caught up in the frenzy and decide you need to get an agreement no higher than the very best price reported, and even that is only "okay". And if you can't get that, there is no deal.

Don't get me wrong, that's totally fine! If that's what you want to do, there is no reason not to. But if the most important goal is to buy more points at a particular resort in a particular UY (or set of resorts/UYs) it might be worth a few extra dollars to get agreement and get it over with, because your time is worth money too.

Before any one accuses me of being a shill: No I don't work for a broker, and no I am not (nor will I be) selling DVC points. I have nothing to gain by any particular sales price. This is just how I tend to do things.

The last time we moved, we priced the house we were selling a little lower than the agent thought he could get, because moving was more important than getting the last thousand dollars. We offered a bit above asking for the house we were buying, because it had just come on the market and we expected there to be competition.

There was competition, but we go the house we wanted, and we sold the one we had quickly. That removed a lot of anxiety and that was worth the money we "lost".
 
Farmermax13—-$136pp-$51000-375-BLT-Dec 223/22, 375/23, 375/24- sent 3/23

Went under contract on 3/13 passed ROFR on 3/22

Feel like I over paid now
I wouldn't say over paid... $136 is a good price, but might have got cheaper for that many points. With 375 points, pay more attention to what you get to look forward to for the next couple decades.!! :)
 
AmyJoyce---$135-$14888-100-BCV-Aug-101/22, 100/23, 100/24- sent 3/16

I guess I needed a second contract before my first DVC purchase closed 😬

Will now own at Polynesian and Beach Club. I was hesitant because of the 2042 expiration but since it’s not a ton of points, I felt good about it. Excited to get access to these points and start vacation planning.
Update-passed!

AmyJoyce---$135-$14888-100-BCV-Aug-101/22, 100/23, 100/24- sent 3/16- passed 3/23
 
Now that I have passed…. How long does it take from the time you close to the time points are in your account?

My closing will probably be next week. Just wanted to get started on booking a trip
 
Narrator: We interrupt this thread for a moment of reflection.

Just as the run-up led to a lot of irrational exuberance on "prices will never fall and I can always rent so I will always make money!", the current market environment is creating a lot of froth as well. Everyone sees the newest low-water-mark, and suddenly assumes that every single seller is going to have to take that price, or even something lower. The ROFR thread has always had an element of one-upsmanship (or maybe downsmanship) but you can feel it gaining more momentum nearly every day.

It's easy to get caught up in the frenzy and decide you need to get an agreement no higher than the very best price reported, and even that is only "okay". And if you can't get that, there is no deal.

Don't get me wrong, that's totally fine! If that's what you want to do, there is no reason not to. But if the most important goal is to buy more points at a particular resort in a particular UY (or set of resorts/UYs) it might be worth a few extra dollars to get agreement and get it over with, because your time is worth money too.

Before any one accuses me of being a shill: No I don't work for a broker, and no I am not (nor will I be) selling DVC points. I have nothing to gain by any particular sales price. This is just how I tend to do things.

The last time we moved, we priced the house we were selling a little lower than the agent thought he could get, because moving was more important than getting the last thousand dollars. We offered a bit above asking for the house we were buying, because it had just come on the market and we expected there to be competition.

There was competition, but we go the house we wanted, and we sold the one we had quickly. That removed a lot of anxiety and that was worth the money we "lost".

I agree with this! I know I didn't get the lowest price for VGC but I got a price I'm comfortable with for the UY I wanted and the amount of points I wanted. So I'm happy! Sure, I could have waited around and offered lower prices to see what happens. And maybe I would have for other resorts with more inventory. But...I'm really excited that I got a contract that works for us.
 
Status
Not open for further replies.












New Posts





DIS Facebook DIS youtube DIS Instagram DIS Pinterest

Back
Top