ROFR Thread July to Sept 2021 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[sgricewich]

Question for you guys… my contract got ROFR’d. The broker I’m using (who I really like), has no other contracts currently that we want to bid on. Other brokers have several. I don’t really want to go with another broker since we have established relationship and they’ve been fantastic to me. But I also don’t want to wait forever for the right contract to come up with them. What do you all do in this situation when you’re wanting to purchase resale?

 

[MICKIMINI]

I've bought from many resellers and have favorites, but you could wait forever to get the right match...

 

[Chia1974]

Question for you guys… my contract got ROFR’d. The broker I’m using (who I really like), has no other contracts currently that we want to bid on. Other brokers have several. I don’t really want to go with another broker since we have established relationship and they’ve been fantastic to me. But I also don’t want to wait forever for the right contract to come up with them. What do you all do in this situation when you’re wanting to purchase resale?

I wouldn’t wait. Finding a match can be hard while the prices are rising.

 

[Paul Stupin]

Question for you guys… my contract got ROFR’d. The broker I’m using (who I really like), has no other contracts currently that we want to bid on. Other brokers have several. I don’t really want to go with another broker since we have established relationship and they’ve been fantastic to me. But I also don’t want to wait forever for the right contract to come up with them. What do you all do in this situation when you’re wanting to purchase resale?

Go with the contract you want, not the broker. Many of us have bought from many brokers, and you’ll find a lot of them are great to work with.

 

[sgricewich]

I wouldn’t wait. Finding a match can be hard while the prices are rising.

That’s what I thought too, prices keep going up. Part of me just wants to say heck with it and buy direct but we’re looking at the 200 point range, so we’d like to save the money buying resale.

 

[softballmom3]

Experienced my first "seller's decision not to go with your full asking price offer" as soon as I saw the listing pop up on the screen. At the end of the day, I received an email- we are sorry that the seller decided to go with another offer. I'm curious to see it pop up on these boards (maybe.) It was a sane price and met with the exact terms. This is a crazy market.

This basically happened to me. I offered very close to asking price and it wouldn't have even mattered if I had offered asking. The broker told me to send them my best offer because they were presenting all offers to the seller at 5 pm. I modified and did that. At around 6 or so the broker emailed to tell me they weren't accepting asking price because they were going to up their price and relist. I told them I wouldn't go any higher. They emailed back that the seller would take "x" amount and that's as low as they would go. I still declined. It just all pretty much stank to me. They should have listed what they wanted to begin with and not do this crazy run around stuff. Of course in this market they still sold it lol.

 

[Jen0718]

That’s what I thought too, prices keep going up. Part of me just wants to say heck with it and buy direct but we’re looking at the 200 point range, so we’d like to save the money buying resale.

Any good broker would not be upset if you went somewhere else. They understand that they don’t hold all of the listings and it’s YOUR money. Buy what you want, where you can find it.

 

[FSUSammy]

So at what point do you check with your broker to see if they've heard anything about ROFR? I'm already checking my span folders daily lol They initially said it can take up to 45 days...so do I try to be super patient and wait until I hit 45 days? I'm currently at day 33 so 45 days will put me around August 9th.

 

[Cleeevus]

So at what point do you check with your broker to see if they've heard anything about ROFR? I'm already checking my span folders daily lol They initially said it can take up to 45 days...so do I try to be super patient and wait until I hit 45 days? I'm currently at day 33 so 45 days will put me around August 9th.

I had to email my broker with a different question and couldn’t help but to ask for a ROFR update while I was at it (day 29 for me). She said Disney is about a week behind from “normal” ROFR times due to the closure. I am assuming that would mean more like 40+ days average right now?

 

[KTownRaider]

Question for you guys… my contract got ROFR’d. The broker I’m using (who I really like), has no other contracts currently that we want to bid on. Other brokers have several. I don’t really want to go with another broker since we have established relationship and they’ve been fantastic to me. But I also don’t want to wait forever for the right contract to come up with them. What do you all do in this situation when you’re wanting to purchase resale?

Your relationship with your eventual contract will last years/decades. You're relationship with your favorite broker- probably not as long. If you see a contract that fits your DVC jigsaw, go for it.

 

[Chia1974]

Question for you guys… my contract got ROFR’d. The broker I’m using (who I really like), has no other contracts currently that we want to bid on. Other brokers have several. I don’t really want to go with another broker since we have established relationship and they’ve been fantastic to me. But I also don’t want to wait forever for the right contract to come up with them. What do you all do in this situation when you’re wanting to purchase resale?

I bought from 4 different brokers including Disney. I’m sure he wants your loyalty but you do what’s best for you. You can still give him your business in the future.

 

[Ginamarie]

Did you offer the full asking price include closing and was declined? Doesn’t the seller have to accept full price offer per contract? I don’t know enough about selling.

Seller is not legally obligated to take any offers. Offers are not binding. (depending on the contract they have with their real estate agent, they CAN be on the hook for commissions if the broker brings a ready/willing/able buyer and they just want to back out of the transaction altogether, but that has nothing to do with the potential purchaser).
It's possible someone offered full price earlier or that someone offered more than full price. This market is insane, so I have seen people making offers that say they'll go above asking, especially if it's listed at a decent price anyway.

 

[ABE4DISNEY]

Welp, 6/25 group here.

ABE4DISNEY---$115-$23862-200-OKW(E)-Feb-0/20, 0/21, 200/22, 200/23- sent 6/25, taken 7/28

Don't cry for me! I'm getting ready to go shopping again!!! Woohoo!

 

[Ginamarie]

Welp, 6/25 group here.

ABE4DISNEY---$115-$23862-200-OKW(E)-Feb-0/20, 0/21, 200/22, 200/23- sent 6/25, taken 7/28

Don't cry for me! I'm getting ready to go shopping again!!! Woohoo!

Oh no!! This was actually a contract I was interested in, but not ready to buy yet. I need OKW-E points!

 

[Ginamarie]

Yes-full asking price, closing, dues. Popped up early yesterday morn, the broker contacted me, double-checked my offer, and said she would reach out to the seller. At the end of the day, the decline came.

Was this Feb use year? I saw a 160 pointer go up on Fidelity and it was tempting at the $120/point price, but I really want a different resort. (it's still showing as listed there. I'm also wondering if this was a listing that went up onto several brokerage websites at the same time and a different broker already made the sale. I've had that happen before.)

 

[Sandisw]

P.S. I’m not so sure that the seller is legally obligated to take an asking-price offer but that it is customary in the DVC resale world. And a seller who turned down an asking-price offer may be liable for the broker’s commission.

When I have sold, a full asking price meant it was sold.

It happened 3 times for me and in all cases I just got the email of Congratulations your contract is sold at your asking price. Most recent was my BLT in May.

The only thing I can think of is that multiple offers came in close enough to each other, all at or above asking to give the seller a choice.

 

[ABE4DISNEY]

Was this Feb use year?

Yes, it was that one. It was a sweeeeeeeeet deal, but I guess Disney saw that and decided to take it.

The 160 pointer--it was listed elsewhere? That sounds like a crazy story.

 

[Red Dog Run]

Was this Feb use year? I saw a 160 pointer go up on Fidelity and it was tempting at the $120/point price, but I really want a different resort. (it's still showing as listed there. I'm also wondering if this was a listing that went up onto several brokerage websites at the same time and a different broker already made the sale. I've had that happen before.)

It was an Oct UY, but probably much the same situation. The broker, though, didn't act like she knew of any other offers. My consolation was that it could have been done by ROFR later in the month. It was worth a try. Don't mind trying.

 

[Sandisw]

Seller is not legally obligated to take any offers. Offers are not binding. (depending on the contract they have with their real estate agent, they CAN be on the hook for commissions if the broker brings a ready/willing/able buyer and they just want to back out of the transaction altogether, but that has nothing to do with the potential purchaser).
It's possible someone offered full price earlier or that someone offered more than full price. This market is insane, so I have seen people making offers that say they'll go above asking, especially if it's listed at a decent price anyway.

The contracts I have signed for selling with different brokers stated that if they received a full price offer it was considered sold and commission was due.

So, I don’t think a seller has an option to simply reject unless there are other offers at the same time.

 

[LilyJC]

Pleasantly surprised....

LilyJC---$151-$8570-50-BLT-Aug-4/20, 44/21, 50/22- sent 6/24, passed 7/28