ROFR Thread January to March 2019 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[JoeD07]

As @carli_h mentioned, Disney hasn't been taking BRV. I was looking at Boulder Ridge for my add-on-itis, and went down the geeky rabbit hole of tracking the deeds. If my analysis is correct, Disney has not ROFR'ed any BRV since at least August (I stopped tracking once I got that far).

I noticed the same and sent a few offers for BRV out... Haven't really seen too many BRV contracts sold either tbh. Hopeful, to be adding on soon

 

[dumaresq]

B
As it has been stated time and time again, YOU/your agent must send your contract to Disney at least 30 days before the closing date to give them adequate time to review the contract for ROFR. They do not have a 30 day requirement. They generally let you know within 30 days, but that timeline has gone out the window lately. I completely agree with you about needing to follow-up and see what's going on. 42 days is just plain crazy.

Oh, sorry about that, I was just parroting something that my agent had said, I didn't realize it was wrong... I had assumed the agent would know what they were talking about, I'm clearly new to all this, and still waiting to clear ROFR myself.

 

[Darth Poppy]

I talked with the broker Wednesday (20th). All she knew was that Disney had notified them that they are running behind considerably from the rush before the 19th. I may contact her again for an update.

 

[TexasChick123]

Oh, sorry about that, I was just parroting something that my agent had said, I didn't realize it was wrong... I had assumed the agent would know what they were talking about, I'm clearly new to all this, and still waiting to clear ROFR myself.

No worries at all. I actually get annoyed because it’s the agents that say this when it isn’t true. It’s no fault in the buyers’ part as they’re being misinformed. I have also been told this by an agent. Then, when buyers are calling asking what’s going on when a contract goes past 30 days, the agents tell them to sit tight. If they told them the real policy up front, I think it would alleviate some of the confusion. I’ve only had one agent word it as, “As you know, Disney will review this for ROFR, and they usually get back to us within 30 days.” That’s the most honest thing they can say. I don’t like the policy either, and I asked one broker why they don’t set the closing for 30 days from ROFR submission date to force Disney’s hand. There were a lot of reasons, but chief among them was the fact that if they don’t close by 30 days from that date, then buyers and sellers will complain about a delayed closing. They’re trying to manage expectations as to when closing will actually happen. It seems to defy logic that you would have a closing date, and Disney can choose whether or not to exercise ROFR up to the closing date since sooo many slow-moving things have to happen after the ROFR decision is handed down but before it can close. Sorry for the rant, but the process has never made a ton of sense to me. I guess in exchange for saving thousands, you get to deal with this super inefficient process.

 

[Paipt]

I contacted my broker this morning. They have confirmed with Disney that my contract is not lost and that it was received before the 1/19 changes. All I can do now is wait . . .

 

[TexasChick123]

I contacted my broker this morning. They have confirmed with Disney that my contract is not lost and that it was received before the 1/19 changes. All I can do now is wait . . .

Ugh. I’m frustrated for you. Sorry.

 

[SimbaAndSparkles]

To everyone who's (well) past 30 days: I feel your pain! My BLT contract was taken on day 38. It totally sucks to go past 30 and then have to start over at Day 1...wish there was some sort of "waiting credit"

SimbaAndSparkles---$92-$23690-250-BRV@WL-Jun-0/18, 0/19, 250/20- sent 2/25

 

[RamblinWreck]

Waiting....

RamblinWreck---$136-$6800-50-VGF-Jun-0/18, 0/19, 50/20,- sent 2/25


How do you like my odds?

 

[meekey7197]

Waiting....

RamblinWreck---$136-$6800-50-VGF-Jun-0/18, 0/19, 50/20,- sent 2/25


How do you like my odds?

You want honesty? Or just some pixie dust LOL

 

[adais]

I talked with the broker Wednesday (20th). All she knew was that Disney had notified them that they are running behind considerably from the rush before the 19th. I may contact her again for an update.

Wish you get an answer soon specially since they have started making decisions on contracts submitted after the 19.

 

[RamblinWreck]

You want honesty? Or just some pixie dust LOL

I can handle the truth!

 

[The Jackal]

Waiting....

RamblinWreck---$136-$6800-50-VGF-Jun-0/18, 0/19, 50/20,- sent 2/25


How do you like my odds?

Great price. Odds of it passing ROFR, not so great. Considering they sell this for $245 pp now.

 

[RamblinWreck]

Great price. Odds of it passing ROFR, not so great. Considering they sell this for $245 pp now.

Does the fact that it's pretty stripped help me at all?

I am a total noob to this but have been doing research for a while. I threw out this lowball offer only half seriously thinking it would never even be accepted by the seller.

 

[meekey7197]

I surprised the seller accepted, they must really want out from under it.

 

[meekey7197]

Does the fact that it's pretty stripped help me at all?

I am a total noob to this but have been doing research for a while. I threw out this lowball offer only half seriously thinking it would never even be accepted by the seller.

Stripped or not hasn’t been making a real difference lately.

We threw out a low ball offer on an AKV contract in Dec thinking they would counter and they didn’t. In the end I feel like we just presented it to Disney on a silver platter

 

[4luv2cdisney]

I surprised the seller accepted, they must really want out from under it.

No kidding! I've been bidding around $130 for small BWV contracts and can't get a single acceptance. Hard to believe VGF would go for a few bucks more.

 

[RamblinWreck]

Stripped or not hasn’t been making a real difference lately.

We threw out a low ball offer on an AKV contract in Dec thinking they would counter and they didn’t. In the end I feel like we just presented it to Disney on a silver platter

Ok, so being the noob I am... I suppose I was incorrect in thinking this had been sent off to Disney already.

I frantically called my broker and asked if it was too late to change the contract. I asked him to ask the sellers if they would be willing to cover all of the closing costs and admin fees (about $650) if I brought the total offer up to $152 per point (an $800 increase).

He reached out to them and they agreed. A new contract is being written up as we speak. How do you like my chances now?

 

[TexasChick123]

Ok, so being the noob I am... I suppose I was incorrect in thinking this had been sent off to Disney already.

I frantically called my broker and asked if it was too late to change the contract. I asked him to ask the sellers if they would be willing to cover all of the closing costs and admin fees (about $650) if I brought the total offer up to $152 per point (an $800 increase).

He reached out to them and they agreed. A new contract is being written up as we speak. How do you like my chances now?

DVD looks at the total cost (ppp, MF’s, and closing costs). They don’t care how it’s split up as it makes no difference to them or to you when cutting the check as the buyer. Good luck!

 

[RamblinWreck]

DVD looks at the total cost (ppp, MF’s, and closing costs). They don’t care how it’s split up as it makes no difference to them or to you when cutting the check as the buyer. Good luck!

Ouch! Oh well. Here I thought I was being clever.

How high do you think I'd need it to be in order to have a halfway decent shot at passing ROFR?

 

[LadyLvsTramp]

I say offer what you can afford not interested in inflating the prices for Disney! I do not believe they can take them all so just keep sending. Now the 19th has passed
what difference does it make. We offered on a contract that was headed for foreclosure and if Disney wants it now they will need to pay the seller a decent price. It did
not cost us anything but time. I think they should have to pay a premium if they keep it past 30 days after all the Brokers are working at that point and no compensation
or do they get paid by Disney?